Press Release: The European Community and its Member States sign a new Partnership Agreement with the African, Caribbean and Pacific states in Cotonou, Benin, 23.6.00

Eighteen months of negotiations culminated on Friday 23 June 2000 when the European Community and its Member States signed a twenty-year partnership agreement with 77 ACP Group states. Together, the ACP signatories represent a total of more than 650 million people. The Cotonou Agreement is set to replace the Lomé Convention, which had provided the structure for trade and cooperation between them and the Community since 1975. Focusing on poverty reduction as its principal objective, to be achieved through political dialogue, development aid and closer economic and trade cooperation, this agreement will shape a significant part of the European Union's dealings with the rest of the world. It also reflects the Union's reach both as the leading international trading partner and the world's main provider of official development assistance, with a European Development Fund of €13.5 billion for the initial five-year period. After the failure of the Seattle talks, the Cotonou Agreement constitutes a joint ACP-EC response to the challenges posed by globalisation. Mr Poul Nielsen, Commissioner for Development Cooperation and Humanitarian Aid, told the press, “I am both proud and honoured to sign this agreement. It is forged from a common will to approach the future through global partnership. It demonstrates the European Union's commitment to pursue its work in the world by promoting the values of solidarity and dialogue.”

http://ec.europa.eu/development/body/cotonou/index_en.htm http://ec.europa.eu/development/body/cotonou/index_en.htm

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