By Can Akdeniz

Opinion No. 4 - May 2009

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This is an important moment in the history of Europe’s relations with developing countries. Over the next years, an unprecedented number of decisions and steps will be taken which bear on the relationship. These include the fate of the Lisbon Treaty, European elections and the nomination of the new Commission. All these political debates take place in times of a wide-ranging and complex global challenge: The economic crisis and its consequences.

Following the food and energy crisis, the developing countries are now confronted with a global economic downturn. Recent analyses show that all developing countries have been severely hit by the global crisis. Foreign direct investment and remittances are falling. Being exporters of commodities, the developing countries are suffering particularly from the prices decline. However, the negative impact of the crisis varies across regions and countries. Questions also remain about the long-term political, social and security implications of the crisis.