Summary
- EU needs to be strategic in choosing partners for Clean Trade and Investment Partnerships
- Existing partnerships with 14 countries need to be more effective in critical minerals diplomacy
- EU should leverage its financial, technological, and diplomatic strengths in partnerships
- Focus on value addition and industrial development in partner countries
- EU should uphold high standards and environmental stewardship in projects but provide support for implementation.
Article
The European Union (EU) is looking to establish Clean Trade and Investment Partnerships (CTIP) to enhance its resource diplomacy efforts. These partnerships aim to diversify supply chains and create mutually beneficial deals. Despite existing partnerships with various countries, the EU’s progress in critical minerals diplomacy has been lackluster. The EU needs to strategically select partners and leverage its financial, technological, and diplomatic strength to improve its minerals fortunes and benefit resource-rich countries.
To turn around the continent’s minerals fortunes, the EU must strategically choose key countries and raw materials for partnerships, considering geopolitical and economic factors. By identifying opportunities and aligning with countries that have potential for value addition, the EU can make a positive impact. For example, the EU could support the Philippines’ efforts to process nickel locally, which presents a prime opportunity for collaboration and sharing policy experiences in governance and minerals standards.
Understanding its strengths and aligning with partner countries’ needs is crucial for the EU to succeed in minerals diplomacy. Many resource-rich countries require financial support to develop their resources, presenting an opportunity for the EU to leverage its financial power and become an investor in strategic projects. Additionally, focusing on value addition and supporting the development of local industries through technology and expertise can bring significant benefits to both the EU and partner countries.
While upholding high standards and environmental stewardship is vital, the EU must ensure that these efforts are not simply symbolic gestures. The EU can use its influence to control project conditions and promote sustainability measures, such as implementing better water and waste treatment facilities in resource-rich countries. By providing financial and technological support for environmental initiatives, the EU can help Global South countries benefit from high standards and environmental protections.
Overall, the EU needs to enhance its minerals diplomacy efforts through the new Clean Trade and Investment Partnerships. By prioritizing strategic partnerships, focusing on tangible projects on the ground, and aligning with partner countries’ needs, the EU can create a successful framework for resource diplomacy. These partnerships have the potential to not only benefit the EU in terms of resources and investments but also to support the sustainable development and growth of resource-rich countries.
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