Blitz Bureau
NEW DELHI: Officials from the U.S. and African Union met in Addis Ababa on January 28 to discuss a deal to create a task force to boost infrastructure and investments in the US as well as in African countries.
African Union Commission Chairperson Mahmoud Ali Youssouf said, “We live in a globalised world. I believe that we all need each other. The United States needs Africa for its resources, wealth, etc. And Africa needs the United States for its expertise, technology and investment. I think it is very important to reiterate here that Africa is ready to continue working with the United States. Africa considers its partnership with the United States to be a strategic one.”
The sentiment was shared by Christopher Landau, US Deputy Secretary of State, who said, ”It’s in our interest to have a stable and prosperous Africa. Africa presents many economic and commercial opportunities.” A joint statement noted that the task force seeks to enhance economic partnerships between the U.S. and Africa, shore up economic security and help job creation.
The African Union Commission and the US Government have agreed to establish a U.S.-AUC Strategic Infrastructure and Investment Working Group (SIWG), to advance U.S.-Africa economic partnerships that create jobs and economic security.
The SIWG will serve as a platform for senior officials and technical experts across the AUC and the U.S. government to identify and advance opportunities for U.S. private sector investment and engagement in AU-backed infrastructure projects and related initiatives.
Two-way trade
The investments will leverage AU convening authority and expertise alongside U.S. capital and innovative financing tools to develop critical minerals and commodities supply chains, energy networks, and regulatory harmonization, as well as to increase two-way trade, secure digital infrastructure, and improve health security that will make Americans and Africans safer and more prosperous. The US and Africa will seek durable, profitable investments to drive economic goals in place of foreign assistance.
