Luanda – The African Union (AU) has called for more equitable trade partnerships between Africa and Europe. The appeal was made by the Chairperson of the AU Commission, Mahmoud Ali Youssef, during the opening of the 7th African Union-European Union Summit on Cooperation and Partnership held today.
Youssef emphasized the need to address the existing trade imbalances that disproportionately favor European economies. He stated that a more balanced approach is crucial for fostering sustainable economic growth and development across the African continent. He argued that current trade arrangements often hinder African nations from fully realizing their economic potential.
“Our partnership with Europe must evolve beyond traditional donor-recipient relationships,” Youssef asserted. “We need trade agreements that promote value addition within Africa, encourage industrialization, and create employment opportunities for our growing youth population.”
The AU’s call for fairer trade practices comes amid growing concerns about the impact of existing Economic Partnership Agreements (EPAs) on African economies. Critics argue that these agreements often undermine local industries and impede regional integration efforts.
The summit provides a platform for African and European leaders to discuss a wide range of issues, including trade, investment, security, and climate change. The AU hopes that the summit will result in concrete commitments from the EU to support Africa’s development agenda and promote a more balanced and mutually beneficial partnership. The discussions are ongoing, and further updates will be provided as they become available.
The AU’s renewed push for equitable trade relations signifies a growing determination among African nations to assert greater control over their economic destinies. It remains to be seen whether the EU will heed the call and embrace a new paradigm of partnership based on fairness, mutual respect, and shared prosperity.
