Holding discussions centering a range of sectors that can drive growth and prosperity wheel well would be a viable means to successfully defeat poverty from the soil of the planet, with a peculiar focus on the lands of developing nations.
In addition to deciding new goals, the international community will need to agree on how the already set goals will be implemented and put into effect as properly and timely as possible. Development cooperation is one key tool for implementing the new adjustment frameworks and attaining various national and international ambitions.
The quality or effectiveness of co-operation is as important as the volumes of resources provided. It also needs to recognize diversity across countries, and the specificities of different types of cooperation extended by governments including through south-south and triangular collaboration.
A number of African leaders, including Ethiopian Prime Minister Abiy Ahmed recently participated in “Compact with Africa” summit in Berlin, Germany. True, the summit is a central pillar of the G20 -Africa partnership that aims to promote private sector-led development by improving the conditions for private participation and investment.
Propelled under the German G20 Presidency in 2017, the G20 Compact with Africa (CwA) has become a platform for dialogue and cooperation between reform-oriented African countries, G20 partners and beyond. Yes, the session focused on economic cooperation and enhancing private sector involvement.
The member countries of the G20 Compact are Benin, Burkina Faso, Democratic Republic of Congo, Egypt, Ethiopia, Ghana, Guinea, Ivory Coast, Morocco, Rwanda, Senegal, Tunisia and Togo.
Leaders from more than 10 African countries took part in the summit and discussed how to promote private investment in the African continent. Africa plays an important role in helping Germany better diversify its supply chains, secure skilled workers, reduce illegal migration and achieve a green transition.
It is recurrently heralded that expanding relations with Africa is part of the foreign policy that has been promoted by the German Government to strengthen the role and position of the European economic leader on the African continent.
The aforementioned summit is held annually within the framework of the G20 Compact with Africa, with the expectation of strongly attracting investors to the African market.
Meanwhile, many German companies are looking to boost their business in Africa, especially in the fields such as green hydrogen and liquefied natural gas. According to head of the German-Africa Business Association Christoph Kannegiesser, in the context of Germany seeking to reduce its dependence on Russian gas, he realizes the great potential of the energy sector in Africa.
Cognizant of the fact that diversifying trading partners and expanding cooperation among /between countries is of paramount importance in bringing about change, many countries are now working to firmly solidify that line.
Taking the opportunity garnered out of the summit, Prime Minister Abiy Ahmed and German Chancellor Olaf Scholz held discussions to bolster the relationship between the two countries on new spheres of cooperation.
Ethiopia and Germany enjoy close cooperation on matters of climate change, energy, education, regional peace and security. It was also stated that the German government is providing support to strengthen the technical and vocational training sector in Ethiopia and ensure the country’s effort in food security.
African leaders used the G20 Compact with Africa summit to call attention to Africa’s stupendous need for more investment and for positive competition between Europe and China.
It is also attested that internal investment among African nations is quite colossal. Aiming at sparking greater private investment in Africa, the CwA initiative brings 13 African members together with representatives from the G20 major economies, the World Bank, the International Monetary Fund and the African Development Bank.
Underscoring renewed interest in Africa, many countries of the world are now willing to work with the continent. True, as international development co-operation can be a powerful tool in helping countries to realize their own development goals and ambitions, the effectiveness of development co-operation.
Thinking on effective partnerships will continue to evolve, and will be shaped by discussions in various forums– not least the Global Partnership for Effective Development Co-operation, and UN entities such as the Development Cooperation Forum.
Successful partnership models need to be replicated and scaled up in every part of the world as they help amalgamate synergy for change.
Thinking on development co-operation has evolved, and South-South and triangular co-operation, climate finance, co-operation among governments on non-aid policies, and co-operation with and among non-governmental actors such as businesses and civil society is vital. Besides, effective co-operation is about maximizing the impact of all of these instruments and inputs.
Curbing illicit financial flows by helping developing countries to strengthen their institutional, regulatory and legal arrangements and by facilitating global dialogue has to be further bolstered to make a difference.
In sum, promoting policy coherence for development, incorporating inclusive green growth into development policies as part of efforts to promote sustainable development and supporting capacity development for growth like what the European countries such as Germany are doing with Africa needs to be well acknowledged, and feasibly put into effect.
BY MENGESHA AMARE
Editor’s Note: The views entertained in this article do not necessarily reflect the stance of The Ethiopian Herald
The Ethiopian Herald November 30/2023
