- October 30, 2023
EU Signs Key Agreements with DRC and Zambia to Develop Raw Material Value Chains and Transport Connectivity
The European Union (EU) has inked significant agreements with the Democratic Republic of the Congo (DRC) and Zambia to develop critical raw materials value chains and boost transport connectivity. These countries are rich in resources – such as copper, cobalt and lithium deposits and eager to generate local added value. These partnerships aim to create sustainable and resilient value chains for essential raw materials, generate local jobs, and enhance regional and global trade. Additionally, a Memorandum of Understanding was signed to support the development of the "Lobito Corridor," connecting parts of DRC and Zambia to global markets via Angola's Port of Lobito. Once operational, the corridor is expected to facilitate exports and promote the movement of goods and people in the region, furthering economic development.
These agreements align with the EU's strategy to secure a sustainable supply of critical raw materials, essential for its green and clean energy objectives. The Global Gateway Forum, where these partnerships were formalized, represents a step towards addressing global investment disparities and promoting sustainable growth and resilience worldwide, covering key sectors like digital, energy, transport, and social systems.
Link to EU Commission Press Release (26 October 2023) - "EU signs strategic partnerships on critical raw materials value chains with DRC and Zambia and advances cooperation with US and other key partners to develop the ‘Lobito Corridor"