What Is The Cotonou Partnership Agreement

The aim of this procedure is to return to a normal relationship between the partners. In the absence of an agreement, the party that initiated the process can take action on cooperation projects and development assistance. (i) Regional agreements meant that EPAs would contribute to greater regional integration, facilitate the entry of ACP economies into the global economy and stimulate trade and investment. From the EU`s point of view, the EU remains the main (and in some cases) largest trading partner of the ACP regional economic communities (see Chart 1 below). It is the most comprehensive partnership agreement between developing countries and the EU, covering EU relations with 79 countries, 48 of them from sub-Saharan Africa. The EU funds most of its development programmes for ACP countries through the European Development Fund (EDF). These funds are not part of the EU`s overall budget. They are subject to internal agreement between the Member States meeting in the Council. In response to the European Commission`s communication, CONCORD has drawn up recommendations to put man and the planet at the heart of the future agreement. Perhaps the most radical amendment introduced by the Cotonou Agreement concerns trade cooperation. Since the first Lomé Convention in 1975, the EU has not granted reciprocal trade preferences to ACP countries. However, under the Cotonou Agreement, this system has been replaced by the Economic Partnership Agreements (EPAs), a new regime that came into force in 2008.

The new regime provides for reciprocal trade agreements, which means that not only does the EU grant duty-free access to its ACP export markets, but also that ACP countries grant duty-free access to their own markets for EU exports. In accordance with the revision clause, the Cotonou agreement has been revised twice to improve the efficiency and quality of the ACP-EU partnership. The first revision was completed on 25 June 2005 in Luxembourg and the revised agreement came into force on 1 July 2008. The future agreement is expected to cover priority areas such as.B.: in July 2014, 16 West African states, the Economic Community of West African States (ECOWAS) and the West African Economic and Monetary Union (WAEMU) reached an agreement with the EU. The signing process is currently underway. The event is part of a lively debate between EU and ACP civil society authorities and organisations to discuss their future partnership after 2020.

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