The European Union says it has offered Africa a free trade deal which will bring new investments to the continent.
European Union Commission President Jean-Claude Juncker revealed this in a keynote speech on Wednesday. He said the offer will bring prosperity to Africa which is Europe’s closest neighbour.
Juncker told the European Union Parliament that what Africa needs is a more equal partnership and investment and not aid.
36 percent of Africa’s trade is with the European Union. The continent’s trade with China is 16 percent while that with United States is 6 percent.
Despite that Juncker says trade percentage between Africa and the EU “is not enough.”
“I believe we should develop the numerous European-African trade agreements into a continent-to-continent free trade agreement, as an economic partnership between equals,” he adds.
The EU chief has already held talks with African leaders and proposed an investment package which could create up to 10 million jobs in Africa in the next five years.
Juncker said “Today we are proposing a new alliance between Europe and Africa, an alliance for investment and sustainable jobs. It would create up to 10 million jobs in Africa in five years. We want to create a framework that brings new investment to Africa.”