Cotonou 2000 ACP-EU Agreement

Sectors : Agricultural investment and production, Employment and Training, Financial Institutions, markets, services and microfinance, ICT, Industry, Infrastructure General, Investment
Organisation : EU
Date made: 
Heads Of State
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Commitments in: Private Sector development and financial services for the poor - Employment and Training


Economic sector development

Cooperation shall support sustainable policy and institutional reforms and the investments necessary for equitable access to economic activities and productive resources, particularly:

(a) the development of training systems that help increase productivity in both the formal and the informal sectors;
(b) capital, credit, land, especially as regards property rights and use;
(c) development of rural strategies aimed at establishing a framework for participatory decentralised planning, resource allocation and management;
(d) agricultural production strategies, national and regional food security policies, sustainable development of water resources and fisheries as well as marine resources within the economic exclusive zones of the ACP States. Any fishery agreement that may be negotiated between the Community and the ACP States shall pay due consideration to consistency with the development strategies in this area;
(e) economic and technological infrastructure and services, including transport, telecommunication systems, communication services and the development of information society;
(f) development of competitive industrial, mining and energy sectors, while encouraging private sector involvement and development;
(g) trade development, including the promotion of fair trade;
(h) development of business, finance and banking; and other service sectors;
(i) tourism development; and
(j) development of scientific, technological and research infrastructure and services; including the enhancement, transfer and absorption of new technologies;
(k) the strengthening of capacities in productive areas, especially in public and private sectors.”


Commitments in: Private Sector development and financial services for the poor - Investment

Investment and private sector development

1. Cooperation shall support the necessary economic and institutional reforms and policies at national and/or regional level, aiming at creating a favourable environment for private investment, and the development of a dynamic, viable and competitive private sector. Cooperation shall further support:

(a) the promotion of public-private sector dialogue and cooperation;
(b) the development of entrepreneurial skills and business culture;
(c) privatisation and enterprise reform; and
(d) development and modernisation of mediation and arbitration systems.

2. Cooperation shall also support improving the quality, availability and accessibility of financial and non-financial services to private enterprises, both formal and informal; by:

(a) catalysing and leveraging flows of private savings, both domestic and foreign, into the financing of private enterprises by supporting policies for developing a modern financial sector including a capital market, financial institutions and sustainable microfinance operations;
(b) the development and strengthening of business institutions and intermediary organisations, associations, chambers of commerce and local providers from the private sector supporting and providing non-financial services to enterprises such as professional, technical, management, training and commercial support services; and
(c) supporting institutions, programmes, activities and initiatives that contribute to the development and transfer of technologies and know-how and best practices on all aspects of business management.

3. Cooperation shall promote business development through the provision of finance, guarantee facilities and technical support aimed at encouraging and supporting the creation, establishment, expansion, diversification, rehabilitation, restructuring, modernisation or privatisation of dynamic, viable and competitive enterprises in all economic sectors as well as financial intermediaries such as development finance and venture capital institutions, and leasing companies by:

(a) creating and/or strengthening financial instruments in the form of investment capital;
(b) improving access to essential inputs such as business information and advisory, consultancy or technical assistance services;
(c) enhancement of export activities, in particular through capacity building in all trade-related areas; and
(d) encouraging inter-firm linkages, networks and cooperation including those involving the transfer of technology and know-how at national, regional and ACP-EU levels, and partnerships with private foreign investors which are consistent with the objectives and guidelines of ACP-EC Development cooperation.

4. Cooperation shall support microenterprise development through better access to financial and non-financial services; an appropriate policy and regulatory framework for their development; and provide training and information services on best practices in microfinance.

5. Support for investment and private sector development shall integrate actions and initiatives at macro, meso and micro economic levels.”