The Atlantic Ocean: A new frontier for global cooperation and African growth

Karim El Aynaoui

No 2436, Policy briefs on Economic Trends and Policies from Policy Center for the New South

Abstract: This paper (see pages: 182-186), included in the report 'Foresight Africa - Top Priorities for the Continent 2025-2030,' was originally published on brookings.edu In an increasingly fragmented world grappling with common challenges such as the global climate crisis, the Atlantic Ocean can be leveraged for Africa’s climate action, continental integration, contribution to the provision of global public goods, development, improved participation to the global economy, international cooperation, and peace and security. The global context in which this opportunity should be seized is two-pronged. On the one hand, in recent years, geopolitical conflict has blocked multilateral institutions, fueled military expenditures, increased barriers to investment and trade restrictions, and led to a surge in violent deaths and forced displacement. It is against this backdrop that internationalized civil wars in the Great Lakes, Horn, and Sahel regions, the effects of which have often been compounded by climate change, have claimed hundreds of thousands of African lives and displaced millions. Geo-economic fragmentation driven by heightened competition over global influence, technology, and manufacturing jobs and value added adds another layer of complexity. For instance, the disruption of global value chains triggered by the COVID-19 pandemic and the Russia-Ukraine war increased the number of people suffering from acute food insecurity in sub-Saharan Africa by 40 million in 2020-22 alone, giving an indication of Africa’s vulnerability to trade imbalances. On the other hand, nations have also demonstrated increased appetites for entering agreements with each other. Minilateralism and multi-alignment are becoming commonplace. New international coalitions, groupings, fora, and organizations have blossomed on topics such as biodiversity, clean energy, economic cooperation, food security, and technology. In the face of global challenges, the contribution of nations to global initiatives aiming at the delivery of global public goods is an increasingly important aspect of policymaking and smart power...

Date: 2025-01
New Economics Papers: this item is included in nep-afr, nep-cis, nep-env and nep-int
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