Russia and the European Union are in the ambitious pursuit of Africa’s heart. Both parties continue to pursue their own rigorous cooperation strategies with the continent – Russia is preparing to open its very first industrial zone in Egypt, and the EU has guaranteed its seat at African Continental Free Trade Agreement (AfCFTA) negotiations, allocating more than 50 Million Euros and even more generous consultative assistance to the involved African parties. Apart from that, just recently the European Union published its updated strategy with Africa ahead of the 6th EU-Africa Summit this October, while Russia rounded up its very first Russia-Africa Summit in October 2019.
Yet, as the old African proverb says, “If you want to go fast, go alone. If you want to go far, go together.” A well-coordinated and thought-through trilateral Russia-EU-Africa strategy could fulfil the political and economic needs of all three parties and elevate collaboration for the benefit of the continent.
Nonetheless, one should refrain from overestimating the desire and readiness of both Russia and the EU to collaborate on matters they are accustomed to perceiving as their own. Instead, an updated focus on mutual concessions and novel cooperation models could prove to be constructive. Additionally, that would push both the EU and Russia to have an honest conversation about the value of their proposals to the continent, as well as their capabilities right now. Paramount in finding ground for cooperation would be a refreshed focus on what should be the central figure of a new strategy – Africa.
This policy paper will delve into EU-Russia-Africa collaboration within the context of the newly founded AfCFTA.
Exploring the opportunities presented by the Agreement would allow the EU and Russia to seek new development and business ventures with the continent, as well as prepare the legal framework for spearheading updated trade agreements with the rapidly developing continent. Opening the EAEU market to African countries could also help the continent achieve its goal of economic diversification and added-value chains.
The paper will focus on determining the potential, capabilities and opportunities all three parties have to offer. Additionally, the purpose of the paper is to explore novel ideas for cooperation, encourage their further discussion and seek to lay the foundation for an EU-Russia-Africa strategy.
Policy Brief #25/2020
A Russia-EU-Africa Strategy for Economic Development and Prosperity
Russia and the European Union are in the ambitious pursuit of Africa’s heart. Both parties continue to pursue their own rigorous cooperation strategies with the continent – Russia is preparing to open its very first industrial zone in Egypt, and the EU has guaranteed its seat at African Continental Free Trade Agreement (AfCFTA) negotiations, allocating more than 50 Million Euros and even more generous consultative assistance to the involved African parties. Apart from that, just recently the European Union published its updated strategy with Africa ahead of the 6th EU-Africa Summit this October, while Russia rounded up its very first Russia-Africa Summit in October 2019.
Yet, as the old African proverb says, “If you want to go fast, go alone. If you want to go far, go together.” A well-coordinated and thought-through trilateral Russia-EU-Africa strategy could fulfil the political and economic needs of all three parties and elevate collaboration for the benefit of the continent.
Nonetheless, one should refrain from overestimating the desire and readiness of both Russia and the EU to collaborate on matters they are accustomed to perceiving as their own. Instead, an updated focus on mutual concessions and novel cooperation models could prove to be constructive. Additionally, that would push both the EU and Russia to have an honest conversation about the value of their proposals to the continent, as well as their capabilities right now. Paramount in finding ground for cooperation would be a refreshed focus on what should be the central figure of a new strategy – Africa.
This policy paper will delve into EU-Russia-Africa collaboration within the context of the newly founded AfCFTA.
Exploring the opportunities presented by the Agreement would allow the EU and Russia to seek new development and business ventures with the continent, as well as prepare the legal framework for spearheading updated trade agreements with the rapidly developing continent. Opening the EAEU market to African countries could also help the continent achieve its goal of economic diversification and added-value chains.
The paper will focus on determining the potential, capabilities and opportunities all three parties have to offer. Additionally, the purpose of the paper is to explore novel ideas for cooperation, encourage their further discussion and seek to lay the foundation for an EU-Russia-Africa strategy.
Trade, Investment and the AfCFTA, 1.3 Mb
