The Prague Post - French president announces economic deals with Madagascar

EUR -
AED 4.119695
AFN 72.354221
ALL 90.782047
AMD 404.118279
ANG 2.007724
AOA 1028.661216
ARS 1706.04672
AUD 1.597164
AWG 2.021987
AZN 1.903312
BAM 1.955413
BBD 2.254454
BDT 138.432623
BGN 1.960661
BHD 0.422416
BIF 3355.057037
BMD 1.121768
BND 1.430641
BOB 13.180335
BRL 5.583485
BSD 1.119379
BTN 106.208996
BWP 15.41995
BYN 3.28665
BYR 21986.655821
BZD 2.251155
CAD 1.572124
CDF 2598.014842
CHF 0.924567
CLF 0.028197
CLP 1113.377077
CNY 7.491223
CNH 7.480202
COP 3545.381904
CRC 510.798982
CUC 1.121768
CUP 26.863687
CVE 110.242707
CZK 24.356505
DJF 199.320581
DKK 7.475586
DOP 68.656422
DZD 150.473242
EGP 62.242315
ERN 16.826522
ETB 182.063694
FJD 2.509616
FKP 0.838755
GBP 0.838976
GEL 2.905268
GGP 0.838755
GHS 12.978375
GIP 0.838755
GMD 83.010714
GNF 9905.511226
GTQ 8.55627
GYD 234.432593
HKD 8.799379
HNL 30.051057
HRK 7.535365
HTG 146.693143
HUF 366.90457
IDR 20327.560721
ILS 3.49666
IMP 0.838755
INR 106.730463
IQD 1696.864421
IRR 2055499.921566
ISK 136.410186
JEP 0.838755
JMD 177.644868
JOD 0.795295
JPY 176.190499
KES 145.695284
KGS 98.097055
KHR 4572.851065
KMF 493.013792
KPW 1009.591295
KRW 1484.503567
KWD 0.348522
KYD 0.932816
KZT 508.219492
LAK 25187.906459
LBP 100235.876906
LKR 371.674839
LRD 190.842258
LSL 18.54485
LTL 3.31229
LVL 0.678546
LYD 7.168582
MAD 10.994577
MDL 20.203914
MGA 5061.998917
MKD 61.592545
MMK 2355.546526
MNT 4037.237594
MOP 9.043012
MRU 44.734153
MUR 52.880709
MVR 17.342278
MWK 1940.916156
MXN 20.999273
MYR 4.581264
MZN 71.685185
NAD 18.544932
NGN 1510.438699
NIO 41.189651
NOK 10.462393
NPR 169.934393
NZD 1.968613
OMR 0.428975
PAB 1.119274
PEN 3.84414
PGK 5.012741
PHP 71.674818
PKR 309.746243
PLN 4.404813
PYG 6473.719728
QAR 4.080175
RON 5.349038
RSD 117.476767
RUB 91.453301
RWF 1653.772942
SAR 4.200839
SBD 9.057806
SCR 15.746252
SDG 674.729276
SEK 11.139608
SGD 1.434461
SHP 0.838298
SLE 25.744543
SLL 23522.922241
SOS 639.673495
SRD 42.209863
STD 23218.33595
STN 24.493846
SVC 9.794063
SYP 14585.229186
SZL 18.544333
THB 37.903987
TJS 10.31466
TMT 3.937406
TND 3.342424
TOP 2.700948
TRY 55.821876
TTD 7.605496
TWD 36.545973
TZS 2967.057672
UAH 50.674378
UGX 4931.002844
USD 1.121768
UYU 44.890922
UZS 13395.350876
VES 986.91917
VND 29003.876509
VUV 133.25663
WST 3.10482
XAF 655.957
XAG 0.020732
XAU 0.000279601835
XCD 3.031634
XCG 2.017301
XDR 0.793148
XOF 655.957
XPF 119.331742
YER 264.848348
ZAR 18.647679
ZMK 10097.257485
ZMW 22.504549
ZWL 361.208888
SSP 6444.894301
MXV 2.369154
  • CMSC

    0.0000

    19.6

    0%

  • NGG

    -0.7800

    81.86

    -0.95%

  • BCE

    -0.4100

    20.4

    -2.01%

  • RBGPF

    2.6200

    72.77

    +3.6%

  • GSK

    -0.4600

    50.75

    -0.91%

  • BTI

    -0.9900

    59.48

    -1.66%

  • RIO

    -0.7200

    83.42

    -0.86%

  • BP

    1.2700

    51.32

    +2.47%

  • RELX

    -0.0800

    40.54

    -0.2%

  • CMSD

    0.1800

    19.78

    +0.91%

  • RYCEF

    -1.7500

    15.26

    -11.47%

  • VOD

    -0.3800

    15.74

    -2.41%

  • BCC

    -0.5500

    77.74

    -0.71%

  • JRI

    0.0700

    10.75

    +0.65%

  • AZN

    -1.0800

    171.49

    -0.63%

French president announces economic deals with Madagascar
French president announces economic deals with Madagascar / Photo: Ludovic MARIN - POOL/AFP

French president announces economic deals with Madagascar

France and Madagascar announced Wednesday they would strengthen economic cooperation through several ambitious projects, including a major hydroelectric dam, as President Emmanuel Macron kicked off a two-day state visit to the Indian Ocean island.

Text size:

The visit, the first official trip by a French president in 20 years, is intended to strengthen bilateral ties and consolidate France's presence in the Indian Ocean despite ongoing colonial-era disputes.

Macron announced after talks with President Andry Rajoelina that several agreements would be concluded during the visit, covering energy, digital technology, infrastructure and tourism.

They include funding from the French development agency, AFD, and a loan from the French treasury to support the construction of a major hydropower dam in Volobe, in the east of the country, which has been in the pipeline for almost a decade.

A deal is also expected to be reached for the entry of French electricity giant EDF into Madagascar's hydroelectric company, CGHV, an official told AFP.

Macron called for a "partnership" between the two nations over strategic rare earth minerals needed for renewable energies, of which Madagascar has extensive reserves.

Rajoelina meanwhile urged future investment in the island's "immense potential", of which France is already the top trading partner.

Macron's trip comes with France facing challenges to its sovereignty of some of its Indian Ocean territories and the growing ambitions of China and Russia in the region.

Madagascar, a French-speaking island of 30 million people, disputes France's ownership of several small islets nearby called the Scattered Islands that stayed under French rule when its other African colonies became independent.

Similarly, the neighbouring archipelago nation of the Comoros claims the right to the island of Mayotte, a French department.

Both occupy a strategic position in the Mozambique Channel, a major transit route for international trade and rich in gas and oil.

- Land and legacy -

Demands for the handover of these territories are about "national identity, access to resources and, moreover, a means of pressure to obtain something else from France", said Denys-Sacha Robin, an international maritime law specialist at the University of Paris-Nanterre.

While Paris favours a "co-management"of the Scattered Islands, there is a push for Rajoelina to raise a full handover, similar to the 2024 deal for Britain to return the Chagos Islands to Mauritius.

Another theme running through the visit is the uncomfortable legacy of France's colonisation of Madagascar -- the fifth largest island in the world and known for its rich biodiversity and natural resources but burdened by high poverty.

While Macron has pledged to return various cultural items taken by the French occupiers, plans were called off for him to bring back the skull of a king decapitated in 1897 by French troops and taken to France as a trophy.

One issue holding up the restitution of the remains of King Toera is a family request that his desecrated tomb be restored.

There are also demands for France to make a stronger admission of its colonial-era transgressions on the island, which gained full independence in 1960.

This includes the establishment of a commission "to shed full light on what are called colonial abuses", said University of Antananarivo historian Jeannot Rasoloarison.

The French president will also advocate for greater economic, health, maritime and security cooperation between Madagascar and France's regional possessions, including Mayotte and the island of Reunion.

On Thursday, he will call at a summit in Antananarivo of the Indian Ocean Commission (IOC) for Mayotte to be included in the grouping, which is being blocked by the Comoros.

His co-accused Philippe Francois, sentenced to 10 years, was transferred to France in 2023.

J.Simacek--TPP