Africa’s fifty four countries joined South America “in recognizing the legitimate sovereignty rights of Argentina over the Malvinas, South Georgia and South Sandwich Islands and the adjoining maritime spaces”, announced the Argentine Ministry of Foreign Affairs in a communiqué in reference to the so called Declaration of Malabo, capital of Equatorial Guinea.
The African countries position reflected in the Malabo declaration was born out of the III Summit of South American and African countries which was held during two days precisely in Malabo.
The declaration also includes Argentina’s claim condemning hedge funds (‘vulture funds’) and measures to promote cooperation South to South programs and projects among the two regions.
The Argentine ministry in the release underlines that the “document is a diplomatic victory for our country since it is the first time that the whole of Africa joins our continent in declaring legitimate the rights of the Argentine Republic in the sovereignty dispute over the Falkland Islands”.
The declaration also calls on “the UK to resume negotiations with Argentina for a fair, peaceful and definitive solution to the dispute, as soon as possible and in conformity with the relevant resolutions from the UN and other regional and international organizations”
Foreign minister Hector Timerman thanked at Equatorial Guinea the solidarity from the leaders and Foreign ministers whom participated at the III summit of South America-Africa (ASA) and pointed out that “Africa is currently a priority for Argentina’s foreign policy”.
The statement is supported by the fact that the administration of President Cristina Fernandez had decided to re-open and open several diplomatic legations in Africa and specifically mentioned Ethiopia and Mozambique.
The first ASA Summit was held in Abuja, Nigeria, November 30, 2006, while the second, on Isla Margarita, Bolivarian Republic of Venezuela, September 27, 2009.
Article 26 of the declaration refers to the Falklands:
26. We recognize the legitimate rights of the Argentine Republic in the sovereignty dispute over the Malvinas Islands, South Georgias and South Sandwich Islands, and the surrounding maritime areas, and urge the United Kingdom of Great Britain and Northern Ireland to resume negotiations with the Argentine Republic in order to find, as soon as possible, a fair, peaceful and definitive solution to the dispute, in accordance with the relevant resolutions of the United Nations and other regional and international organizations.
Article 58 refers to the ‘vulture funds’:
58. We reiterate that financial reform should aim to facilitate that investments are channelled to development objectives and not to speculative activities. We support a reduction in the mechanical dependency on the Credit Rating Agencies, an increase in their transparency, accountability and competition amongst them. Furthermore, we recognize the need to tackle tax havens, which facilitate tax evasion, corruption and criminal activities and offer an operating base to vulture funds. Finally, we emphasize the need to put limits to the action of these funds in order to avoid that their behaviour jeopardize the international financial stability