EXPLORING AFRICA’S GROWTH AND DEVELOPMENT THROUGH ENGAGEMENT WITH BRICS AND EU

Анотація

The European Union has historically been the primary trade partner for African countries, functioning as a pivotal market for African exports and a substantial source of foreign investment. It is evident that, over the course of several decades, this longstanding economic relationship has exerted a significant influence on the trade and development trajectory of the African continent. Nevertheless, in recent years, there has been a marked decline in the relative role of the European Union in Africa's trade landscape. The global economic power balance has undergone a shift, with new and emerging economies acquiring increasing significance in Africa's economic relations. Notably, the BRIC countries (Brazil, Russia, India and China) have become significant external actors, creating new dynamics in Africa's trade partnerships. This paper presents and discusses the scale of increasing trade with these new external actors in Africa, its impact on African countries and the likely future size and structure of this trade, as well as its impact on Africa–Europe relations. The research employs a mixed-methods design, combining a quantitative analysis of international trade statistics with a comparative regional assessment, to examine the changing roles of the BRIC countries and the European Union in Africa's economic landscape. A particular emphasis is placed on the consideration of the size of the countries in question, in addition to their geographic location and the quality of their institutions and governance. The findings indicate that the trade relations between Africa and the European Union, as well as the BRIC countries, are characterised by a structural imbalance. While the continent continues to export primarily to the EU, there is an increasing reliance on imports from BRIC economies. This trend underscores Africa's mounting significance as a consumer market for emerging powers, notably BRIC nations. In contrast, the EU's role remains predominantly that of a resource supplier. Exports from Africa have been demonstrated to contribute to employment and income generation, while imports have been shown to facilitate technological advancement and support domestic development. The paper concludes with the presentation of recommendations to African and EU governments. It is recommended that African governments consider ways to expand intra-African trade, accelerate the implementation of mutual agreements, and coordinate trade policies to enhance collective agency in global negotiations. The enhancement of research capacity, the diversification of trade structures, and the identification of supply constraints are pivotal to the enhancement of competitiveness and economic resilience.