EU-African Union Summit
€150 billion Investment Package towards Africa
On February 17 and 18, EU and African Union leaders met in Brussels for the sixth EU-African Union Summit, themed “Africa and Europe: A joint vision for 2030”. The 2022 EU-African Union Summit was the key moment when African and European leaders met to determine a cohesive plan for their common future.
The EU and African leaders adopted a joint declaration ‘Joint vision for 2030’ and launched an ambitious Africa-Europe Investment Package of €150 billion to support common ambitions for 2030. These include the boosting of public and private investment and large-scale sustainable investment.
The relationship between the EU and Africa is quite important due to the various shared interests these two blocks possess. The summit was hosted by the President of the European Council, Charles Michel, the President of the European Commission, Ursula von der Leyen, the High Representative for Foreign Affairs and Security Policy, Josep Borell Fontelles and Emmanuel Macron for the French EU Council presidency. EU Member States and African Union countries were represented by their respective Heads of State or Government.
The summit laid out the foundations for a renewed and deeper partnership between the EU and the African Union, characterised by high political involvement and an establishment of clear mutual interests. The discussions revolved around building a more prosperous relationship between the two sides. Moreover, the summit talks focused on the importance of the promotion of stability and security, constructing a renewed peace and security architecture.
The wide-ranging topics discussed were as follows: growth financing; healthcare; production of vaccine; agriculture and sustainable development; education, culture and vocational training; migration, and mobility; private sector support and economic integration; peace, security, and governance; climate change and energy transition; digital and transport.
EU - Africa relations
The EU is the biggest contributor for the promotion of development, stability, and peace in Africa. In 2019 alone, the EU and its Member States invested €75.2 billion in official development assistance (ODA). This amounted to 55.2% of the total global assistance to the continent. According to the European Commission, total trade in goods between the EU Member States (EU27) and Africa was worth €235 billion in 2018. In 2020, Africa's total trade in goods with the EU27 stood at 25.6%. Such investment continuously enables the countries within Africa to keep developing.
There are multiple frameworks that construct the EU and African Union relations. The joint Africa-EU strategy was established after the Africa-EU summit of the year 2000 to serve as a formal channel for EU relations with African countries and enhance political dialogue and further integration.
On a wider scale, the Cotonou agreement - a partnership adopted in 2000 between the EU and the African, Caribbean and Pacific (ACP) countries - was mainly established to fight poverty and further integrate the ACP countries into the world economy.
The deepening of cooperation based on shared interests and values is certainly of both the EU's and Africa's interest. This will enable both sides to achieve their common goals and tackle global challenges.
Further information on EU-Africa Relations here.
Joint Declaration here.