Association For Strategic Culture and Research Foundation

The aim of the EU programme -- called Global Gateway -- is to help underpin the global recovery by mobilising investments in digital, clean energy and transport networks, as well as boosting health, education and research systems across the world. Low and middle-income countries were already facing a US$2.7 trillion infrastructure investment gap before the pandemic, according to World Bank estimates.

The potential to increase trade, economic growth, job creation and integration across the continent remains enormous, because today, only around 17% of African trade flows take place between African countries.

Long before this summit, European Union members and business investors have been making consistent efforts at capitalizing on and exploring several emerging opportunities offered by the newly introduced African Continental Free Trade Area (AfCFTA), which provides a unique and valuable access to an integrated African market of 1.3 billion people. In practical reality, it aims at creating a continental market for goods and services, with free movement of business people and investments in Africa.