Luanda: The African Union (AU) on Monday called for strengthened cooperation between the European Union (EU) and Africa in the realm of digital investments, urging a departure from protectionist policies and what it termed a 'narrow-minded' approach.

According to Anadolu Agency, AU Commission Chair Mahmoud Ali Youssouf highlighted the need for increased investment in innovation, technology, artificial intelligence, and the digital economy during the opening ceremony of the 7th EU-Africa Summit held in Luanda, Angola. Youssouf pointed out that while countries like China and the United States are channeling substantial funds into artificial intelligence, Africa remains in dire need of financial resources and EU support.

Youssouf emphasized the mutual benefits of collaborative development over protectionist and self-centered policies. He asserted that such cooperation could yield more significant advantages for both continents.

European Commission chief Ursula von der Leyen, present at the summit, acknowledged the challenges presented by a harsher global environment since the last summit in 2022. However, she expressed optimism about the deepening relationship between Africa and Europe. Von der Leyen noted that Europe remains Africa's largest trading partner and investor, with investments reaching 240 billion euros in 2023, a figure poised to grow.

Von der Leyen also underscored Africa's vast potential, mentioning its rich natural and human resources, particularly its possession of 60% of the world's best solar resources. She concluded by stating that Africa's potential, coupled with the right capital infusion, could significantly influence the global economy.