The United States and the European Union have thrown their weight behind the Lobito Corridor which is being developed by Zambia, Angola and the Democratic Republic of Congo to promote trade.
In a joint statement issued by the USA and the EU the two have welcomed the recent commitment by Angola, Zambia and the Democratic Republic of the Congo on the project.
They said this on the margins of the Partnership for Global Infrastructure and Investment event at the ongoing G20 Summit in India today.
The statement, which has been published on the White House website, said the European Union and the United States are teaming up to support the development of the Corridor by launching feasibility studies for a new Greenfield rail line expansion between Zam
ia and Angola.
It said the partnership with the three African countries will combine financial resources and technical know-how to accelerate the Lobito Corridor development, including investments in digital access and agricultural value chains that will increase regional
competitiveness.
The USA and the EU are of the view that the Zambia-Lobito railway line will reduce the average transport time and lower the logistics costs and carbon footprint of exporting metals, agricultural goods, and other products.
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