Economic involvment of Persian gulf countries in Africa

Occupation: Director, Center for Middle Eastern Studies, MGIMO University; Leading Research Fellow, Institute of Oriental Studies, Russian Academy of Sciences
Affiliation:
MGIMO University
Institute of Oriental Studies, Russian Academy of Sciences
Address: Russian Federation, Moscow

Victor F. Artyushkin

Occupation: Associate Professor, Department of Mathematics, Econometrics and IT
Affiliation: MGIMO University
Address: Russian Federation, Moscow

Journal name

Asia and Africa Today

Edition

Issue 4

Pages

26-33

Abstract

The article deals with a relatively new - African vector in the foreign economic strategy of a number of Arabian monarchies. The author analyzes the political background of economic relations, traditional trade relations between GCC countries and Africa.

The main investment directions of the Arabian monarchies on the African continent are determined. It is concluded that the political component is still strong in the export of Arabian capital to Africa, since there are more manifestations of socio-economic backwardness on the continent than in other developing regions. Securing the purely economic interests of Arabian public and private investors has to be put off for at least the medium term.

The nature of military-technical cooperation is separately considered. One of the components of the strategy of the GCC countries on the continent is the provision of security and the conclusion of military transactions, only a small part of which (in value) is associated with the trade in arms and military equipment. The market successes of arms supplies by the Gulf monarchies to Africa, compared with the world’s major suppliers, are more than modest.

In the final part of the article, the possibilities of Russian-Arabian cooperation in the implementation of African projects are outlined. The implementation of economic projects based on the creation of “triangles” with the participation of Russia, African countries and Arabian monarchies can be a promising method of strengthening Russian positions on the African continent.

Keywords

African economy, GCC, foreign trade, investment, military-technical cooperation

Publication date

29.05.2020

Number of characters

31531

Cite

GOST	Fedorchenko A., Artyushkin V. Economic involvment of Persian gulf countries in Africa // Asia and Africa Today – 2020. – Issue 4 C. 26-33 [Electronic resource]. URL: https://asaf-today.ru/S032150750009089-9-1 (circulation date: 24.04.2024). DOI: 10.31857/S032150750009089-9
MLA	Fedorchenko, Andrey V, Artyushkin, Victor F. "Economic involvment of Persian gulf countries in Africa." Asia and Africa Today 4 (2020):26-33. DOI: 10.31857/S032150750009089-9
APA	Fedorchenko A., Artyushkin V. (2020). Economic involvment of Persian gulf countries in Africa. Asia and Africa Today (4), pp.26-33 DOI: 10.31857/S032150750009089-9

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