European Parliament advocates equalizing EU trade relations with Africa

Africa exports primary goods to Europe, while importing higher-valued manufactured goods

 

The use of trade policy to equalize ties between African nations and the European Union received support from the European Parliament on Thursday.

 

In a statement, Kathleen Van Brempt, a Belgian Social Democrat and member of the European Parliament, said that "Africa has been confined for far too long to a provider of raw materials, with the result that the continent's great economic potential remains untapped."

 

The 27-country bloc should focus on five strategic areas as set out in the report, according to fellow Belgian MEP Saskia Bricmont of the Green Party: efficient infrastructure, food security, civil society, fair-trade agreements and sustainable economic development.

 

Trade still linked to colonial era

 

One major issue raised in the European Parliament report on the future of African trade relations is the fact that the majority of goods imported into the EU from Africa are less expensive basic goods like food, drink, and energy, while the majority of goods shipped out of the EU are higher-value manufactured goods like machinery and pharmaceuticals.

 

The research claims that money is continuously moving from the African periphery to the industrialized and increasingly digitalized centers "due to the persistent direction of trade from colonial times."

 

Therefore, in order to promote local manufacturing, the EU ought to impart more of its technical know-how to Africa, Van Brempt told media during a briefing.

 

Countering Chinese, Russian influence

 

As well as mutual commercial benefits in areas of strategic importance, like the supply of hydrogen for green energy, Van Brempt said overhauled trade ties could help bring Africa back to the EU. Chinese and Russian investment has been booming in Africa in recent years.

 

"On China, for sure the advantage that we have right now is that I think a lot of African countries, not all of them, but a lot of African countries have had negative experiences the last couple of years with Chinese investments," Van Brempt said. Many are now having to pay back loans from Beijing in an "indecent way," she added.

 

The European Parliament alone only has modest trade and foreign policy authority. Van Brempt stated, "We want to pressure the [European] Commission to substantially redefine relations with Africa.

 

A disagreement over whether to waive intellectual property rights for COVID-19 vaccinations, many of which are made by EU companies, has strained ties between African nations and the EU in recent years.

 

Under President Ursula von der Leyen, the EU executive body has prioritized strengthening connections with Africa as one of its main foreign policy objectives. The commission announced plans to invest €150 billion ($156 billion) in Africa at a conference of European and African leaders earlier this year.

 

Source: DW