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An ambitious Africa-Europe investment package on the table as AU-EU summit begins in Brussels

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Yesterday, President Muhammadu Buhari received in audience the President of Guinea-Bissau Umaro Sissoco Embalo, on the Sideline of the EU-African Union Summit in Brussels, Belgium.|Photo Credit, Presidency
Access Pensions, Future Shaping

THUR 17 FEB, 2022-theGBJournal- The Heads of State of Government of the African Union and the European Union is meeting for a summit in Brussels today, aiming to jointly lay the foundations of a renewed partnership between the two continents.

The AU-EU summit is a key moment and opportunity to strengthen political and economic ties between the two continents. Leaders are expected to discuss how both continents can build greater prosperity.

The aim is to launch an ambitious Africa-Europe Investment Package, taking into account global challenges such as climate change and the current health crisis. The discussions also focus on tools and solutions to promote stability and security through a renewed peace and security architecture.

The last AU-EU summit took place over four years ago, in November 2017, in Abidjan.

Macky Sall, President of Senegal and Chairperson of the African Union, and Charles Michel, President of the European Council, in a joint article, outlined the two fundamental principles on which the summit will be based viz, respect as well as rights and values of dignity, freedom and solidarity, exercised within the framework of the rule of law and good governance.

The leaders noted that the EU will provide public and private investment capacity, as well as expertise with the green infrastructure and technologies that are vital to their common fight against climate change and to transforming African economies.

According to them, Africa has vast natural resources, a young and dynamic population just waiting to step up, and an impressive capacity for innovation and invention.

‘’It also needs better access to resources, including through the reallocation of special drawing rights on a voluntary basis, in order to finance its massive economic and social development requirements. In the same vein, a debt relief initiative for poor countries should be put in place to support the resilience and recovery efforts of African countries.’’

They called for a fair and just energy transition which takes Africa’s specific needs into account, in particular industrialisation and universal access to electricity.

More than 600 million Africans still do not have access to electricity.

‘’ Peace and security will also be key priorities for our strengthened partnership. The threats are becoming increasingly transnational and complex. They are a problem for all of us in whatever form they take, including cyberattacks and hybrid attacks. We must continue to address these common threats together, including in Africa, and in particular in the fight against terrorism,’’ President Sall and European Council President Michel said.

They emphasised the need to continue working together, under the aegis of the African Union and the European Union, to better coordinate our efforts in this joint fight against a common enemy.

‘’Addressing this major challenge means beginning with the root causes, instability and radicalisation, in order to reach a long-term solution to the crises and build a real and lasting peace.’’

They also spoke to the COVID-19 pandemic which they said highlighted the two continent’s common vulnerabilities and their interdependence, and harped on the need to act together and in concert to tackle it and to better prepare for possible future health crises.

‘’Defeating COVID-19 remains an immediate priority,’’ they said.

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Access Pensions, Future Shaping
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