EU 2005 EU Strategy For Africa: Towards a Euro-African pact to accelerate Africa’s Development, Brussels, Belgium, 12 October 2005

Sectors : Regional trade, International trade: market access, subsidies and aid for trade, ICT, Investment
Organisation : EU
Date made: 
2005
Level: 
Heads Of State
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Commitments in: Trade - Regional trade

“3.1.2.1. Boost economic growth

...In order to ensure that globalisation can become a positive force for Africa’s development, EU action should stimulate sufficiently rapid, broad-based and sustainable economic growth in order to contribute to an effective reduction of poverty. Specific action should include:

...• Creation of integrated regional markets (South-South trade). Creating integrated regional markets is at the heart of the concept of the Economic Partnership Agreements (EPAs) that the EU is currently negotiating with four Sub-Saharan regions of Africa. These innovative agreements are being designed with development as the major objective and benchmark. This process of integration and of fostering trade will continue to be accompanied by substantial and increasing financial support, notably for building trade capacities and for the implementation of supply side reforms. Already the main donor in this area, the EU should step up its trade related assistance to Africa...The EU should assist Africa in this process so to enable African governments to effectively use trade as a policy tool to reduce poverty.”

Scope: 
Africa

Commitments in: Trade - International trade: market access, subsidies and aid for trade

“The EU should continue to help African countries to implement macroeconomic and structural policies that encourage private investment and stimulate pro-poor growth. Another key vector for economic growth and regional integration is the development of South-South, North-South and multilateral trade...The EU should also support African countries in the promotion of a stable, efficient and harmonised regulatory framework encouraging private business initiatives, including in the area of electronic communications and services. In this context, the EU should promote a Euro-African Business Forum bringing together entrepreneurs and public and private investors from both Europe and Africa.”

Scope: 
Africa

“3.1.2.1. Boost economic growth

...In order to ensure that globalisation can become a positive force for Africa’s development, EU action should stimulate sufficiently rapid, broad-based and sustainable economic growth in order to contribute to an effective reduction of poverty. Specific action should include:

...• Increased market access and trade (North-South trade). ... In the EPA negotiations, the EU should provide effectively improved market access and simplify, harmonise and render rules of origin more development friendly. It should also continue to encourage other major developed or developing countries to follow its example. Moreover, it should assist African countries in their efforts in bringing its products to EU and world markets, to comply with rules and standards, notably in the sanitary and phytosanitary areas, and to negotiate preferential market access for goods and services...In order to ensure Africa’s gradual integration into the multilateral trading system, the EU will continue to assist Africa in negotiating and taking advantage of the new opportunities arising from multilateral trade liberalisation while strengthening the social dimension of globalisation and promoting productive employment and decent work opportunities. To reduce the impact of price shocks on commodity dependant countries, the EC should introduce innovative insurance instruments to complement its existing FLEX mechanism.”

Scope: 
Africa