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Strengthening Ties: EU Reaffirms Commitment to Africa Amidst Global Shifts
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luanda, Angola – February 29, 2024 – Teh recent Africa-EU summit in Luanda has underscored a continued commitment to partnership, with the european Union signaling its intent to deepen economic and strategic ties with the continent.
Expanding Trade and investment
European Commission President Ursula von der Leyen highlighted the potential for expanding upon existing trade relationships, noting that Europe already receives approximately one-third of Africa’s total exports. This suggests a strong foundation upon which to build further economic collaboration.
Von der Leyen also emphasized the multifaceted nature of the EU’s ”Global Gateway” initiative.Beyond its widely recognized infrastructure advancement component,the program aims to foster broader cooperation and investment across various sectors.
Important Investment Already Mobilized
Recalling the commitments made at the previous EU-africa summit three years ago,Von der Leyen stated that a goal of €150 billion in investment for Africa by 2027 was established. She reported that over €120 billion has already been mobilized, demonstrating tangible progress towards this objective. This commitment stands in contrast to a perceived reassessment of global engagement by other major investors, reinforcing Europe’s dedication to the African continent.
Broad Agenda and Ongoing Discussions
The Luanda summit addressed a thorough range of critical issues, including peace and security, multilateral cooperation, migration, mobility, and overall prosperity. A joint summit declaration outlining key agreements and future collaborations is expected to be released on Tuesday.
however, discussions at the summit have been partially overshadowed by ongoing diplomatic efforts surrounding a proposed US peace plan aimed at resolving the conflict initiated by Russia in Ukraine. This highlights the interconnectedness of global geopolitical challenges and their impact on international partnerships.
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