Zürcher Nachrichten - French president announces economic deals with Madagascar

EUR -
AED 4.276798
AFN 76.973093
ALL 96.541337
AMD 443.660189
ANG 2.0846
AOA 1067.888653
ARS 1669.958677
AUD 1.752514
AWG 2.096182
AZN 1.984351
BAM 1.955625
BBD 2.34549
BDT 142.477215
BGN 1.956439
BHD 0.439061
BIF 3440.791247
BMD 1.164546
BND 1.508565
BOB 8.047278
BRL 6.334667
BSD 1.164496
BTN 104.702605
BWP 15.471612
BYN 3.348
BYR 22825.091832
BZD 2.34209
CAD 1.610159
CDF 2599.265981
CHF 0.936209
CLF 0.027366
CLP 1073.571668
CNY 8.233458
CNH 8.232219
COP 4424.302993
CRC 568.848955
CUC 1.164546
CUP 30.860456
CVE 110.255106
CZK 24.203336
DJF 207.371392
DKK 7.470448
DOP 74.533312
DZD 151.505205
EGP 55.295038
ERN 17.468183
ETB 180.629892
FJD 2.632397
FKP 0.873977
GBP 0.872973
GEL 3.138497
GGP 0.873977
GHS 13.246811
GIP 0.873977
GMD 85.012236
GNF 10119.091982
GTQ 8.9202
GYD 243.638138
HKD 9.065875
HNL 30.671248
HRK 7.535429
HTG 152.446321
HUF 381.994667
IDR 19435.740377
ILS 3.768132
IMP 0.873977
INR 104.760771
IQD 1525.563106
IRR 49041.926882
ISK 149.038983
JEP 0.873977
JMD 186.393274
JOD 0.825709
JPY 180.924237
KES 150.636483
KGS 101.839952
KHR 4662.581612
KMF 491.43861
KPW 1048.137083
KRW 1716.311573
KWD 0.357481
KYD 0.970513
KZT 588.927154
LAK 25252.733992
LBP 104283.942272
LKR 359.197768
LRD 204.961608
LSL 19.736529
LTL 3.438601
LVL 0.704422
LYD 6.330432
MAD 10.755735
MDL 19.814222
MGA 5194.533878
MKD 61.634469
MMK 2445.172268
MNT 4132.506664
MOP 9.338362
MRU 46.438833
MUR 53.651052
MVR 17.938355
MWK 2019.3188
MXN 21.165153
MYR 4.787492
MZN 74.426542
NAD 19.736529
NGN 1688.68458
NIO 42.856154
NOK 11.767853
NPR 167.523968
NZD 2.015483
OMR 0.447772
PAB 1.164595
PEN 3.914449
PGK 4.941557
PHP 68.66747
PKR 326.476804
PLN 4.229804
PYG 8009.281302
QAR 4.244719
RON 5.092096
RSD 117.389466
RUB 88.93302
RWF 1694.347961
SAR 4.370508
SBD 9.584899
SCR 15.774978
SDG 700.4784
SEK 10.946786
SGD 1.508673
SHP 0.873711
SLE 27.603998
SLL 24419.93473
SOS 664.340387
SRD 44.985272
STD 24103.740676
STN 24.497802
SVC 10.190086
SYP 12876.900539
SZL 19.72123
THB 37.119932
TJS 10.684641
TMT 4.087555
TND 3.416093
TOP 2.803946
TRY 49.523506
TTD 7.894292
TWD 36.437508
TZS 2841.64501
UAH 48.888813
UGX 4119.630333
USD 1.164546
UYU 45.545913
UZS 13931.74986
VES 296.437311
VND 30697.419423
VUV 142.156724
WST 3.247609
XAF 655.898144
XAG 0.019993
XAU 0.000277
XCD 3.147243
XCG 2.098812
XDR 0.815727
XOF 655.898144
XPF 119.331742
YER 277.802752
ZAR 19.711451
ZMK 10482.311144
ZMW 26.923584
ZWL 374.983176
  • RBGPF

    0.0000

    78.35

    0%

  • CMSD

    -0.0700

    23.25

    -0.3%

  • AZN

    0.1500

    90.18

    +0.17%

  • GSK

    -0.1600

    48.41

    -0.33%

  • CMSC

    -0.0500

    23.43

    -0.21%

  • NGG

    -0.5000

    75.41

    -0.66%

  • RELX

    -0.2200

    40.32

    -0.55%

  • SCS

    -0.0900

    16.14

    -0.56%

  • BTI

    -1.0300

    57.01

    -1.81%

  • BCC

    -1.2100

    73.05

    -1.66%

  • RIO

    -0.6700

    73.06

    -0.92%

  • VOD

    -0.1630

    12.47

    -1.31%

  • BCE

    0.3300

    23.55

    +1.4%

  • BP

    -1.4000

    35.83

    -3.91%

  • RYCEF

    -0.0500

    14.62

    -0.34%

  • JRI

    0.0400

    13.79

    +0.29%

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.

F.Carpenteri--NZN