The Fort Worth Press - EU, Africa leaders talk trade and minerals in Angola summit

USD -
AED 3.6725
AFN 64.999826
ALL 80.789107
AMD 361.004402
ANG 1.789785
AOA 917.000213
ARS 1525.758604
AUD 1.425161
AWG 1.80125
AZN 1.699385
BAM 1.741128
BBD 2.014253
BDT 123.698583
BGN 1.747831
BHD 0.377454
BIF 2999.768543
BMD 1
BND 1.277535
BOB 11.726321
BRL 5.027795
BSD 1.000093
BTN 94.527066
BWP 13.700642
BYN 2.970368
BYR 19600
BZD 2.011315
CAD 1.40168
CDF 2315.999751
CHF 0.81951
CLF 0.024873
CLP 978.929973
CNY 6.67805
CNH 6.67209
COP 3198.44
CRC 455.348678
CUC 1
CUP 24.001709
CVE 98.165599
CZK 21.613603
DJF 178.083228
DKK 6.65328
DOP 61.416433
DZD 134.612287
EGP 54.612984
ERN 15
ETB 163.80737
EUR 0.890091
FJD 2.24975
FKP 0.746996
GBP 0.745725
GEL 2.589725
GGP 0.746996
GHS 11.656199
GIP 0.746996
GMD 72.999779
GNF 8851.400975
GTQ 7.642966
GYD 209.234522
HKD 7.84074
HNL 26.84691
HRK 6.706099
HTG 131.038811
HUF 326.138501
IDR 18066.75
ILS 3.101299
IMP 0.746996
INR 94.86465
IQD 1516.075474
IRR 1832374.999915
ISK 121.229907
JEP 0.746996
JMD 158.72055
JOD 0.708985
JPY 156.8955
KES 129.907292
KGS 87.450014
KHR 4066.51711
KMF 439.496719
KPW 899.999961
KRW 1321.950467
KWD 0.31019
KYD 0.833441
KZT 446.721476
LAK 22509.670211
LBP 89556.349846
LKR 332.0232
LRD 170.520759
LSL 16.405842
LTL 2.95274
LVL 0.60489
LYD 6.416836
MAD 9.816031
MDL 17.991712
MGA 4519.758922
MKD 54.821038
MMK 2100.035197
MNT 3598.866322
MOP 8.082872
MRU 40.112524
MUR 47.130172
MVR 15.460292
MWK 1734.102502
MXN 18.8042
MYR 4.0823
MZN 63.90174
NAD 16.405842
NGN 1332.62022
NIO 36.80146
NOK 9.35785
NPR 151.238099
NZD 1.75733
OMR 0.384505
PAB 1.000102
PEN 3.43709
PGK 4.477977
PHP 63.483498
PKR 276.794698
PLN 3.888025
PYG 5754.499041
QAR 3.646011
RON 4.759598
RSD 104.569012
RUB 81.10852
RWF 1478.068887
SAR 3.766715
SBD 8.07458
SCR 13.843313
SDG 601.49913
SEK 9.89553
SGD 1.276755
SHP 0.7473
SLE 23.91985
SLL 20969.504398
SOS 571.5354
SRD 37.735498
STD 20697.981008
STN 21.811222
SVC 8.75104
SYP 13001.999685
SZL 16.41243
THB 33.687504
TJS 9.210916
TMT 3.51
TND 2.98552
TOP 2.40776
TRY 49.616801
TTD 6.789846
TWD 32.552988
TZS 2644.989688
UAH 45.030491
UGX 4205.522196
UYU 40.15081
UZS 11971.031652
VES 879.7889
VND 25839.5
VUV 118.676507
WST 2.769234
XAF 583.861105
XAG 0.017901
XAU 0.000245003761
XCD 2.70255
XCG 1.802376
XDR 0.707052
XOF 583.861105
XPF 106.170268
YER 236.100731
ZAR 16.484435
ZMK 9001.200156
ZMW 20.061515
ZWL 321.999592
SSP 5745.343966
MXV 2.122425
  • RIO

    -0.3300

    97.04

    -0.34%

  • CMSC

    -0.0400

    20.67

    -0.19%

  • RELX

    0.0000

    33.41

    0%

  • RBGPF

    0.0000

    67.95

    0%

  • BCE

    -0.0700

    21.99

    -0.32%

  • BCC

    -0.0300

    75.66

    -0.04%

  • GSK

    0.8600

    51.08

    +1.68%

  • JRI

    -0.0300

    11.52

    -0.26%

  • NGG

    -0.1200

    76.68

    -0.16%

  • CMSD

    0.0900

    20.54

    +0.44%

  • BTI

    -0.0800

    55.75

    -0.14%

  • AZN

    2.0200

    168.1

    +1.2%

  • BP

    -1.4200

    43.16

    -3.29%

  • RYCEF

    0.4600

    19.7

    +2.34%

  • VOD

    0.0700

    17.02

    +0.41%

EU, Africa leaders talk trade and minerals in Angola summit
EU, Africa leaders talk trade and minerals in Angola summit / Photo: © POOL/AFP

EU, Africa leaders talk trade and minerals in Angola summit

European and African leaders gathered in Angola Monday for a summit to deepen economic and security ties that also presented the chance for emergency talks on Ukraine.

Text size:

European Union chief Antonio Costa chaired an impromptu EU summit at a Luanda hotel in the morning, as Europe and Kyiv push to review a US proposal to end the Ukraine war seen as heavily favouring Moscow.

"While work remains to be done, there is now a solid basis for moving forward," European Commission President Ursula von der Leyen said after the meeting, which followed Sunday talks between US, Ukrainian and European officials in Geneva.

EU leaders including Germany's Friedrich Merz and Poland's Donald Tusk then headed to a conference centre in the Angolan capital for a summit with their African counterparts.

South Africa's Cyril Ramaphosa and Felix Tshisekedi of the Democratic Republic of Congo were among a stream of heads of state and government welcomed by host Joao Lourenco of Angola.

"We expect the partnership between the two continents to get stronger and stronger," Ramaphosa said upon arrival.

"The Europe-Africa axis must increasingly become the central axis of the international community," said UN chief Antonio Guterres.

- 'Implementable commitments' -

The seventh EU-African Union gathering, the two-day summit comes on the heels of a G20 meeting in South Africa where a US boycott underscored geopolitical fractures.

It marks 25 years of EU-African Union relations -- ties that analysts say need revamping if Europe wants to hold on to its role as the continent's top partner.

"Our prosperity is more connected than ever. We both need to build the industries of tomorrow. We both need to make the most of our talent and resources and get rid of dangerous dependencies," von der Leyen said in opening remarks.

"The case for Africa and Europe to join forces is overwhelming. Let us find new ways of doing so."

Africa has emerged as a battleground for its critical minerals and energy potential, with China, the United States and Russia also seeking to foster stronger ties.

The EU is the leading supplier of foreign direct investment to the continent and its top commercial counterpart. Trade in goods and services hit 467 billion euros ($538 billion) in 2023, according to Brussels.

The Gulf states and Turkey have also made significant inroads, granting African nations bargaining power with the EU, said Geert Laporte of ECDPM, a European think tank.

"We don't have that situation anymore where Europe was the only partner," he said.

Observers say Europe needs to invest in infrastructure, energy and job-creating industrial projects in Africa, and a move away from lofty statements of support.

"Africa is looking not for new declarations but for credible, implementable commitments," said AU spokesman Nuur Mohamud Sheekh.

- Minerals and credibility -

Boosting trade will likely be a top priority as US tariffs buffet both continents.

The EU is expected to offer expertise to help build up intra-African trade, which currently accounts for a paltry 15 percent of the global total, diplomats said.

It will also seek to secure critical minerals needed for its green transition and ease dependency on China for rare earths, essential for tech and electronic goods.

The 27-nation bloc will likely showcase new investments under the Global Gateway -- a massive infrastructure plan that Brussels hopes can counter China's growing influence.

Summit-host Angola is home to one of the EU's signature undertakings: the Lobito corridor, a railway project funded in partnership with the United States to connect mineral-rich areas of the Democratic Republic of Congo and Zambia to the Atlantic coast.

"Europe's credibility now depends on whether it can support the delivery of projects that create value in Africa, not just visibility for Brussels," said Ikemesit Effiong, of the Nigeria-based consultancy SBM Intelligence.

A.Williams--TFWP