With a Trump induced rethink of strategic alliances in throw, should Europe (including the UK) turn to Africa for a long-term economic partnership? The RENEW group in the European Parliament have been working on this idea for 2 years now through RENEWPAC, it’s engagement project with the Africa, Caribbean and Pacific (ACP) allied political groups. The third such congress took place in Abidjan, Cote d’Ivoire last month, the second I have attended on behalf of Liberal International, and the enthusiasm for a deep economic partnership was heightened by the unstable geopolitics of the moment. It was hosted generously by the Ivorian government and in particular Fisheries minister Sidi Touré, my fellow Vice President of Liberal International.
The basic theory is that Europe has shortages of labour and natural resources alongside an inward migration challenge, largely across the Mediterranean, but is relatively rich and well placed with investment resources. Africa conversely has an excess of available labour and copious natural resources, but a severe shortage of capital for investment. The African perspective is that Europe is a far better fit for economic partnership than China, as China also has excess labour and is more interested in importing African raw materials than the possibility of adding value in Africa. Europe is also much closer geographically and culturally. The Africans all stress that they do not want to replace Chinese investment, but to more than match it with investment from Europe.
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