11 Wrzesień 2021

Article 8 Of The Cotonou Agreement

Autor: Anna Pilsniak. Kategorie: Bez kategorii .

Under the new agreement, the EU can be more selective and flexible in the allocation and use of its development resources. The allocation of development assistance is based on an assessment of a country`s needs and performance and involves the possibility of regularly adjusting financial resources accordingly. In practice, this means that more money can be transferred to „good performers” and the share of „bad performers” can be reduced. Probably the most radical change introduced by the Cotonou Agreement concerns trade cooperation. Since the first Lomé Convention in 1975, the EU has granted non-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 However, under the Cotonou Agreement, this system has been replaced by the Economic Partnership Agreements (EPAs), a new regime that entered into force in 2008. .

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