Communication: A new Africa-Europe alliance for sustainable investment and jobs: Taking our partnership for investment and jobs to the next level

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In a rapidly changing global landscape, Europe and Africa have much to gain from increased economic and political ties. This document sets out the key strands of action for a strong economic agenda for the EU and its African partners. It seeks to promote a substantial increase of private investment from both Africans and Europeans, boost trade, enhance job creation and contribute to sustainable and inclusive development, promoting standards of modern and sustainable technology, environmental and labour protection, and responsible business conduct. It amounts to an Alliance for Sustainable Investment and Jobs as part of the European Union – African Union Partnership.

This Alliance is more than a financial plan. It represents a radical shift in the way we work as partners towards a logic focussed on Africa’s economic potential and the mobilisation of the private sector. The Alliance is about unlocking private investment and exploring the huge opportunities that can yield benefits for African and European economies alike, with a specific focus on jobs for youth, responding also to Africa’s demographic patterns. It is an economic strategy that puts the respective strengths of Europe and Africa to work, taking the ambition of the External Investment Plan to the next level.

As the dynamics of growth, employment and inequalities and the challenges regarding instability, resilience, health and governance vary across Africa’s regions and between countries, the Alliance will take into account the diversity across the African continent and the specificities of each country, including the specific challenges of fragile situations and the contractual relations of the Northern African countries through their Association Agreements and their experience of cooperation with the European Union through the European Neighbourhood Policy.