Abstract
The global economy continues to suffer the consequences of the 2020 global recession caused by the COVID-19 pandemic and the dramatic shifts in international relations in 2022 triggered by severe sanctions imposed by Western nations against Russia. Many countries have been affected by the restrictions. African economies were no exception, experiencing a strong negative impact of these sanctions because of rising global prices on cereal crops, oil, natural gas, and mineral fertilizers, which caused a decrease in their imports felt primarily by the most vulnerable population groups. In addition, the region has seen a retreat from basic gains in living standards and social problems. This situation has once again made it clear to African countries that they should pool efforts in order to minimize damage and facilitate economic recovery. In this regard, the issues of developing economic integration, such as the transition from the subregional to regional (continental) level of economic integration, which is the subject of this paper, have become more relevant. The African Continental Free Trade Area, launched on January 1, 2021, is the largest in the world in terms of the number of participating countries with a total population of 1.3 billion USD and GDP of 3.4 trillion USD, and is expected to more than double by 2050. An important achievement of economic integration in Africa is the creation in 2018 of the African Single Market for Air Transport and plans for the introduction of a single passport, which are designed to ensure the free movement of Africans across the continent. Thus, continental integration is an extremely important and necessary tool for Africa to strengthen intra-regional ties, increase labor productivity and enhance the competitiveness of African goods. In addition, the promotion of integration helps to strengthen Africa’s economic and political positions in the world, which objectively contributes to the movement towards a multipolar world.
Publisher
Peoples' Friendship University of Russia
Subject
Political Science and International Relations,History,Development
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