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U.S. & African Union Agree to Set up Strategic Investment Working Group
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The North Africa Post
The United States and the African Union Commission have agreed to establish a Strategic Infrastructure and Investment Working Group (SIWG), to advance U.S.-Africa economic partnerships that create jobs, prosperity, and economic security both in America and across Africa.
The announcement was made by the U.S. State Department in a press release issued Wednesday following the meeting held in Addis Ababa between U.S. Deputy Secretary of State Christopher Landau and AUC Chairperson Mahmoud Ali Youssouf.
As the United States and Africa seek durable, profitable investments to drive economic goals in place of foreign assistance, the SIWG will provide a foundation for strategic economic cooperation that will grow and shape the relationship for years to come.
Alongside their shared commitment to protecting peace and security on the Continent, Deputy Secretary of State Christopher Landau and AUC Chairperson also agreed that economic growth forms the foundation of a peaceful and prosperous Africa.
They are convinced that the development of quality, trade-enabling infrastructure is a critical next step in advancing that growth, the AU’s Agenda 2063 and its flagship priorities, including the Program for Infrastructure Development in Africa (PIDA) priority corridors, and the African Continental Free Trade Area (AfCFTA).