AFRICA - BRICS COOPERATION

Abstract

The article analyzes the significance of the BRICS (Brazil, Russia, India, China and South Africa) on the African continent. The basic aspects of cooperation and the main areas of partnership of the group with the African continent identifies. The article aims to explore different aspects of cooperation among BRICS countries on the African continent, identify trends and development prospects of partnership. The scientific novelty of the article is an investigation of the cooperation between BRICS countries and Africa in different fields and how it influence on the continent. If it has positive or negative effects. The importance of the BRICS for Africa’s development can be analyzed through several prisms. Most BRICS and Africa cooperation is in the following areas: trade, investment and development assistance. Today BRICS influence on the continent is clearly evident. For example, BRICS’s foreign trade with Africa, growing faster than trade with any other region in the world. The reasons behind BRICS countries’ involvement in Africa include their appetite for the continent’s natural resources, Africa’s large and untapped agricultural sector as well as the opportunity for investments and transfer of technology and knowledge targeting the growing middle class. Africa’s engagement with the BRICS and other countries of the South has grown rapidly over the last decade, offering great promise in the continent’s relations with the BRICS because, distinctively, they are predicated more on mutual benefit and solidarity bases rather than on gift giving or pure commerce. Key words: BRICS; Africa; cooperation; partnership; foreign trade; investment; infrastructure projects; international economic relations.