JERUSALEM (dpa-AFX) - The United States and African Union have agreed to launch a Strategic Infrastructure and Investment Working Group to promote and advance U.S.-Africa economic partnerships that create jobs, prosperity, and economic security both in the U.S. and across Africa.
The agreement to establish a U.S.-AUC Strategic Infrastructure and Investment Working Group was signed in a meeting between U.S. Deputy Secretary of State Christopher Landau and AUC Chairperson Mahmoud Ali Youssouf at the African Union Commission in Addis Ababa to reaffirm the importance of the U.S.-Africa relationship through the African Union.
The SIWG will serve as a platform for senior officials and technical experts across the U.S. government and AUC to identify and advance opportunities for U.S. private sector investment and engagement in AU-backed infrastructure projects and related initiatives that advance the shared strategic priorities of the United States and the AU, its member states, and Africa's Regional Economic Communities - enabling trade and logistics infrastructure, as well as continent-wide digital transformation.
These investments will leverage AU convening authority and expertise alongside U.S. capital and innovative financing tools to develop critical minerals and commodities supply chains, transportation corridors, energy networks, and regulatory harmonization, as well as to increase two-way trade, secure digital infrastructure, and improve health security that will make Americans and Africans safer and more prosperous.
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, says a joint statement issued by the United States and African Union.
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