The Japan Times - EU, Africa leaders talk trade and minerals in Angola summit

EUR -
AED 4.229988
AFN 73.146945
ALL 96.133079
AMD 434.212947
ANG 2.061819
AOA 1056.200947
ARS 1595.729488
AUD 1.676138
AWG 2.073241
AZN 1.95884
BAM 1.9575
BBD 2.319785
BDT 141.322745
BGN 1.968783
BHD 0.434815
BIF 3421.327021
BMD 1.1518
BND 1.483169
BOB 7.988181
BRL 6.046028
BSD 1.151795
BTN 109.176408
BWP 15.880861
BYN 3.428493
BYR 22575.287657
BZD 2.316392
CAD 1.600253
CDF 2628.988678
CHF 0.919315
CLF 0.02693
CLP 1063.36549
CNY 7.961072
CNH 7.958342
COP 4233.211976
CRC 534.857582
CUC 1.1518
CUP 30.52271
CVE 110.369005
CZK 24.518422
DJF 205.093682
DKK 7.472328
DOP 68.558058
DZD 153.334083
EGP 61.736268
ERN 17.277006
ETB 178.048178
FJD 2.580321
FKP 0.866974
GBP 0.867284
GEL 3.086771
GGP 0.866974
GHS 12.620455
GIP 0.866974
GMD 84.656271
GNF 10098.639609
GTQ 8.815384
GYD 241.106739
HKD 9.021621
HNL 30.579896
HRK 7.535884
HTG 150.976542
HUF 389.090264
IDR 19570.240438
ILS 3.616135
IMP 0.866974
INR 108.896278
IQD 1508.830137
IRR 1512601.862779
ISK 143.606561
JEP 0.866974
JMD 181.293527
JOD 0.816578
JPY 183.86078
KES 149.734428
KGS 100.724635
KHR 4612.886352
KMF 492.970864
KPW 1036.623761
KRW 1744.390407
KWD 0.354775
KYD 0.959846
KZT 556.830884
LAK 25050.648874
LBP 103140.830206
LKR 362.813545
LRD 211.358254
LSL 19.777978
LTL 3.400967
LVL 0.696713
LYD 7.352226
MAD 10.765177
MDL 20.230571
MGA 4800.106597
MKD 61.676346
MMK 2417.436221
MNT 4113.24352
MOP 9.293293
MRU 45.987343
MUR 54.017007
MVR 17.795778
MWK 1997.10857
MXN 20.796407
MYR 4.629663
MZN 73.657744
NAD 19.778236
NGN 1591.99517
NIO 42.386262
NOK 11.212362
NPR 174.665914
NZD 2.005595
OMR 0.442792
PAB 1.151815
PEN 4.012185
PGK 4.977258
PHP 69.977059
PKR 321.451413
PLN 4.279935
PYG 7530.377025
QAR 4.199475
RON 5.097752
RSD 117.405319
RUB 93.874992
RWF 1681.924321
SAR 4.322129
SBD 9.262822
SCR 17.163771
SDG 692.232263
SEK 10.889179
SGD 1.482949
SHP 0.864149
SLE 28.276608
SLL 24152.69076
SOS 658.257439
SRD 43.308822
STD 23839.942611
STN 24.520978
SVC 10.077884
SYP 127.305795
SZL 19.775833
THB 37.764652
TJS 11.005823
TMT 4.031301
TND 3.395971
TOP 2.773258
TRY 51.215473
TTD 7.825763
TWD 36.869937
TZS 2977.40446
UAH 50.484891
UGX 4290.85719
USD 1.1518
UYU 46.623733
UZS 14046.382845
VES 538.960062
VND 30332.663288
VUV 137.508177
WST 3.196803
XAF 656.512961
XAG 0.016275
XAU 0.000254
XCD 3.112798
XCG 2.07583
XDR 0.816616
XOF 656.512961
XPF 119.331742
YER 274.819021
ZAR 19.662788
ZMK 10367.582559
ZMW 21.681643
ZWL 370.879256
  • RBGPF

    -13.5000

    69

    -19.57%

  • BCC

    0.5200

    74.95

    +0.69%

  • RYCEF

    -0.4000

    14.29

    -2.8%

  • CMSC

    -0.1000

    22.67

    -0.44%

  • BCE

    -0.0200

    25.23

    -0.08%

  • VOD

    0.2100

    14.7

    +1.43%

  • RIO

    2.1800

    88.82

    +2.45%

  • GSK

    0.3900

    54.23

    +0.72%

  • NGG

    1.7700

    83.69

    +2.11%

  • RELX

    0.7800

    32.75

    +2.38%

  • BTI

    0.4600

    58.26

    +0.79%

  • JRI

    0.1200

    11.92

    +1.01%

  • CMSD

    -0.1600

    22.5

    -0.71%

  • AZN

    5.4600

    193.88

    +2.82%

  • BP

    0.6700

    47.35

    +1.41%

EU, Africa leaders talk trade and minerals in Angola summit
EU, Africa leaders talk trade and minerals in Angola summit / Photo: Michael Kappeler - 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.

H.Takahashi--JT