EU, US, DRC, Zambia, and Angola Join Forces to Extend Lobito Corridor
On October 26, 2023, during the Global Gateway Forum in Brussels, the European Union (EU) entered a significant strategic partnership with the Democratic Republic of the Congo and Zambia.
EU Commissioner for International Partnerships, Jutta Urpilainen, alongside representatives from the US, DRC, Zambia, Angola, the African Development Bank, and the Africa Finance Corporation, signed a Memorandum of Understanding (MoU) to further develop the "Lobito Corridor."
The Lobito Corridor is set to connect the southern part of the DRC and northwestern Zambia to global trade markets through Angola's Port of Lobito. The MoU delineates roles and objectives, emphasising investments in digital infrastructure and agricultural value chains to enhance regional competitiveness.
The partnership focuses on three key areas: transport infrastructure investments, measures to facilitate trade and transit, and support for related sectors to stimulate inclusive and sustainable economic growth in the three African countries.
European Commission President Ursula von der Leyen expressed optimism, stating that the Lobito Corridor would be a "game-changer" for regional and global trade. The corridor is expected to boost export opportunities, goods circulation, and citizen mobility.
The US Department of State acknowledges the Lobito Corridor as a milestone in US-Africa infrastructure development, set to enhance regional trade and fulfil the vision of an open-access rail network from the Atlantic to the Indian Ocean.
Jose de Lima Massano, Minister of State for Economic Coordination of Angola, highlighted the corridor's potential to stimulate various industries, including raw materials and agriculture, contributing to regional food security.
The US-EU partnership will combine resources and expertise to accelerate the Lobito Corridor's development, including feasibility studies for a new railway expansion and infrastructure upgrades. It promises to reduce travel times significantly, providing an eco-friendly alternative to traditional road transport.