Top Story of the Week: EU-Africa Summit Focuses on Economic Development, Good Governance

European and African leaders ended their third summit in Tripoli, Libya, with an agreement to implement an action plan that aims to spur economic development and boost poverty reduction efforts in Africa.

More than 80 leaders from European Union member-countries and African nations met in Tripoli Nov. 29-30 for the summit, which was dominated by talks about economic growth, job creation, and peace and security.

The action plan adopted at the end of the summit plots measures to address the various development and security challenges faced by the region. The plan’s goal is to help Africa become economically stable, united and capable of addressing its own conflicts. Dubbed the “Tripoli Declaration,” it identifies Somalia and Sudan as focus areas of EU-AU cooperation. The EU has allocated euro24.4 billion (USD32 billion) for the three-year plan, according to news reports.

European Commission President Jose Manuel Barroso identified clean energy, climate measures, and improved agricultural security and trade as the key elements needed to fuel Africa’s growth. He also highlighted the importance of security and peace, which he said are necessary conditions to help the continent move forward with economic development initiatives.

Meanwhile, Libyan leader Moamer Kadhafi said Africa wants “win-win relations based on mutual interest” from the EU. He added that the continent “needs economics, not politics.”

The EU-Africa summit also assessed the progress of the EU-Africa strategy adopted in 2007 and charted steps needed to further advance the two blocs’ economic relationship.

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  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.