EU seals trade expansion with African offshore financial hubs

The agreement broadens the scope of existing partnerships beyond the trade of physical goods. It establishes reciprocal market access for digital services, public procurement, and professional business sectors, while harmonizing rules on state subsidies and intellectual property. Although trade volume with these four island nations reached a modest €9.7bn in 2024, the inclusion of Mauritius and the Seychelles—two of Africa’s primary offshore financial centers—signals a significant shift in the EU’s regulatory reach.

Brussels views this pact as a template for wider regional integration, with the commission confirming the deal remains open to the 12 remaining members of the Eastern and Southern Africa trade bloc. This move coincides with an aggressive 18-month push by the EU to diversify trade routes globally. Current negotiations with South Africa regarding critical mineral supplies and recent infrastructure investments in Kenya underscore a broader strategy to secure economic footholds across the continent, often alongside high-profile diplomatic summits involving partners from India, Brazil, and the Middle East.