The Main Economic Agreements Between the European Union and African Regional Organizations. The European Union (EU) and African regional organizations have built a strong relationship based on economic agreements that promote sustainable development, regional integration, and international trade. From ProdAfrica Business Directory we detail the main agreements, and the official sources where you can find more information.
1. Cotonou Agreement (2000-2020)
Signed in June 2000, the Cotonou Agreement marked a key stage in relations between the EU and ACP (Africa, Caribbean, and Pacific) countries. Its main goal was to reduce poverty, foster sustainable development, and strengthen the integration of ACP countries into the global economy.
Replacement: Replaced by the Post-Cotonou Agreement in 2021.
Official source: European Union Website
2. Post-Cotonou Agreement (Signed in 2021)
This agreement expanded cooperation between the EU and ACP countries, with a specific pillar for Africa. It focuses on areas such as trade, peace, security, human rights, and climate change, aiming to strengthen the link between African and European economies.
Official source: European Union Website
3. Economic Partnership Agreements (EPA)
EPAs are key agreements that promote tariff-free trade and economic cooperation. Several specific treaties exist by region:
a) West Africa (ECOWAS)
- Year: Approved in 2014.
- Parties: EU and the Economic Community of West African States (ECOWAS) plus Mauritania.
- Objective: Tariff-free trade for African products in the EU.
- Official source: ECOWAS
b) East and Southern Africa (EAC)
- Year: Negotiations concluded in 2014.
- Parties: EU and the East African Community (EAC).
- Objective: Access to European markets and support for trade infrastructure development.
- Official source: EAC
c) Southern Africa (SADC)
- Year: In force since 2016.
- Parties: EU and the Southern African Development Community (SADC).
- Objective: Promotion of agricultural exports and manufactured goods to the EU.
- Official source: SADC
d) Central Africa (CEMAC)
- Year: Interim agreement with Cameroon in force since 2014.
- Parties: EU and the Economic and Monetary Community of Central Africa (CEMAC).
- Objective: Access to European markets and promotion of regional economic integration.
- Official source: CEMAC
4. Compact with Africa Initiative (G20, launched in 2017)
Promoted by the G20 and supported by the EU, this initiative aims to attract private investment to African countries by improving the business environment and strengthening institutions.
Participants: Countries such as Ghana, Rwanda, and Morocco.
Official source: Compact with Africa
5. EU External Investment Plan (EIP, launched in 2017)
This plan aims to mobilize investments in infrastructure, energy, digitalization, and other key sectors in Africa.
Official source: EIP
6. EU-AU Partnership Agreement (African Union)
Year: Signed in various stages, with significant reinforcement since 2020.
This agreement establishes a framework for cooperation in trade, investment, technology, and sustainable development. It supports the implementation of the African Continental Free Trade Area (AfCFTA).
Official source: European Union
7. Regional Development Programs
European funds are allocated to improve infrastructure, cross-border trade, and regional connectivity across Africa.
Key instruments: European Development Fund (EDF).
Official source: EDF
The agreements between the European Union and African regional organizations represent a joint effort to promote sustainable development, economic integration, and international trade. These treaties not only strengthen African economies but also consolidate a strategic alliance between the two continents. For further information, visit the official websites of the mentioned organizations.