Modern Africa’s Trade and Economic Cooperation Models

Geographical location of the African continent at the crossroads of the most important trade routes between Europe, Asia and the Americas, wealth of its natural resources, demographic potential, economic growth and increasing productive capacity predetermine the intensity of the involvement of individual African countries in world trade. The study of the factors and structural characteristics of Africa’s foreign trade is relevant for identifying the most promising areas of cooperation with the continent. In order to intensify their participation in world trade as well as to achieve economic growth through foreign trade, the countries of the continent are seeking to increase the exports of their goods and services, attracting foreign investment and participating in regional and international integration processes. Understanding how African countries as a whole and individually carry out their external economic activities can help identify opportunities for investment and cooperation. In this regard, the main focus of the present study is the parametrization of patterns of foreign economic activity of African countries and the analysis of the main approaches of individual countries of the continent to the development of foreign economic activity.

Africa, foreign trade, exports, imports, foreign trade factors, export-oriented model, trade balance, commodity nomenclature, commodities, foreign economic models