Early in 2005, just a few weeks after taking office as European Union trade commissioner, Peter Mandelson set out a grandiose ambition: to “put trade at the service of development”.

Before him lay the chance to help assuage Europe’s post-colonial guilt. Special EU trade deals with half the world’s developing countries, which expire at the end of this year, needed to be renewed. Brussels could therefore take the opportunity to open its markets more to its former colonies and use aid to help them export.