Equatorial Guinea: intelligent strategies needed for sustainable development

Equatorial Guinea’s President, Obiang Nguema Mbasogo, has called for stronger South-South economic global cooperation aimed at providing guidance for strategy and policies that allow the African, Caribbean and Pacific (ACP) group of nations to play an effective role in the international arena.

He was addressing ACP heads of state gathered in the capital, Malabo, for the 7th Summit for African Caribbean and Pacific Heads of State and Government (ACP). 

President Obiang urged the ACP Countries to strengthen their existing economic and regional groups to reach total production capacity and become emergent economies. Equatorial Guinea proposed the creation of a mechanism for South-South global economic cooperation to replace the ACP Group's many subsets.

"The new group can strengthen the Group of 77 to redirect it toward building the political, economic and social systems of the countries of the south, and he said that the meeting in Malabo may be the birth of this organization. "Whether we form a new group or provide assistance to the current ones, we should provide guidance and political strategy that allow our groups to play an effective role in the international arena," said President Obiang.

He said: "We enjoy commercial flow with the European Union thanks to our natural resources. Cooperation with developed countries should allow ACP economies to reach sustainability; this cooperation should produce beneficial effects for both."

"Energy problems, poverty struggles and climate change call for the ACP Group to strengthen security ties and cooperation, given the similarity of our socio-economic problems, in order to face these common challenges," said President Obiang. "We must face the challenges derived from globalization and [our] economies. So our countries must commit to change through reforms."

He said, "Secure access to energy will allow us to develop access to other areas that our countries need."

The conference session on "The Future of the ACP Group in a Changing World: Challenges and Opportunities" dealt with economic partnership agreements (EPAs) and other trade-related issues; meeting the challenges of peace, security, stability, and good governance; the future of development finance; and the enhancement of intra-ACP cooperation.

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