– ‘An attractive bride’ –
Trade has been another cause of tension as the two continue to struggle to agree trade deals – economic partnership agreements (EPA) – giving Africa better access to EU markets while lifting tariffs in Africa, seen as a vital source of income to governments and a protection to its fledgling industry.
Meanwhile China has increased its penetration of Africa, overtaking Europe as the main partner in 2009, while India, Brazil, Turkey and South Korea are all looking for opportunities as stability and growth improve.
“In just a few years Africa has become an attractive bride that can choose among several candidates,” said analyst Geert Laporte of the European Centre for Development Policy Management. But Europe “right now does not have a lot of sex appeal.”
The EU continues to be Africa’s largest donor but now is looking to switch from its historic role of providing assistance to a more dynamic one of investor.
“The need for investment in Africa is so huge that the more investment coming, the better,” EU development commissioner Ndris Piebalgs told AFP.
Though in the last five years Africa’s economy has grown faster than Asia’s, the continent remains mired in poverty with millions jobless and seeking to reach Europe’s shores in hopes of a better future.
Remittances, the cash sent home by migrant workers, in 2012 reached $60.4 billion, becoming the continent’s largest source of foreign income.
A key issue in consequence at the summit will be illegal migration as the EU offers to open its borders to legal migrants, students and business people in exchange for greater control by Africans of their own borders.
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