The United States and the European Union have officially expressed their support for the Lobito Corridor, a significant trade initiative spearheaded by Zambia, Angola, and the Democratic Republic of Congo. In a joint statement issued during the ongoing G20 Summit in India, both the USA and the EU applauded the recent commitment made by these African nations to advance the project.
This partnership declaration, available on the White House website, underscores the collaborative efforts of the European Union and the United States to contribute to the development of the Lobito Corridor. One of the key initiatives mentioned is the launch of feasibility studies for a new Greenfield rail line expansion between Zambia and Angola.
The USA and the EU have joined forces with the three African countries involved in the Lobito Corridor project, leveraging financial resources and technical expertise to expedite its development. The collaborative effort also encompasses investments in digital access and agricultural value chains, which are expected to enhance regional competitiveness.
The primary objective of the Zambia-Lobito railway line is to reduce transport times, lower logistics costs, and reduce the carbon footprint associated with the export of metals, agricultural commodities, and other products. This initiative is poised to streamline trade routes and bolster economic connectivity between Zambia, Angola, and the Democratic Republic of Congo.
The Lobito Corridor project is seen as a critical catalyst for economic growth and trade facilitation in the region, and the backing of the United States and the European Union is expected to further accelerate its progress.