What is the Alliance?
In his State of the Union Address on 12 September 2018, President Jean-Claude Juncker announced a new Africa-Europe Alliance for Sustainable Investment and Jobs.
It complements the long-standing political partnership between the two continents. It deepens the economic and trade relations and goes beyond a donor-recipient approach, an "equals’ alliance".
At the 5th African Union – European Union Summit both partners agreed that economic investment, job creation and trade were common priorities, requiring joint commitment.
The EU is Africa’s first partner in trade, in foreign investment and in development:
This graph shows 36% of Africa’s trade is with the EU. The EU’s investment stocks represent 40% of FDI in Africa and the continent receives on average around EUR 22 billion in EU Official Development
Assistance (ODA) per year.
The Alliance proposes
- Boosting strategic investment and strengthening the role of the private sector to create jobs
- Investing in people by investing in education and skills
- Strengthening business environment and investment climate
- Tapping the full potential of economic integration and trade
There are notable resources underpinning the Alliance, not least those proposed as part of the long-term EU budget, in which Africa remains a priority.