Africa Monitor Intelligence
EU/Africa: Francophones 'Command' Implementation of New Cooperation Agreement
Negotiations on the European Union-ACP agreement dragged on due to the pandemic, but also due to difficulties in reaching an agreement on points such as immigration, forcing the extension of the validity of the predecessor Cotonou Agreement. The EU-Africa Summit was even scheduled for the end of 2020 in Brussels (AM 1295), after which Portugal made efforts to have it take place during the Portuguese presidency of the Council of the EU.
In terms of markets, improved access is expected, both for products for African and EU markets, taking advantage of existing trade agreements. The main sectors identified in the Africa regional protocol are Agriculture, Livestock and Leather, Blue Economy and Fisheries, Extractive Industries and Processing, Industry, Services, Transport, Sustainable Energy, Information and Communication Technologies, Digital Economy and Tourism.
Regarding investment in ACP countries, the agreement defines the improvement of the regulatory environment as a condition for the investment climate, in addition to increasing access to finance through technical assistance, subsidies, guarantees and innovative financial instruments to mitigate risk, high in recipient countries, especially in Africa. READ MORE