Development through trade

Since its trade arrangements with the African, Caribbean and Pacific (ACP) group of countries were overturned by the World Trade Organisation (WTO), the EU has been negotiating new deals with its ACP partners. At the Foreign Affairs Council on 10 September, ministers took stock of the situation and discussed how to breathe new life into the negotiation process which has now lasted several years.

Coffee is an important export product from ACP countries
© Tomas Hajek, Fotolia

The new arrangements, the so-called economic partnership agreements (EPAs), are aimed at promoting trade and thus through trade support development, sustainable growth and poverty reduction in the ACP countries. They are also intended to foster the ACP states' gradual integration into the world economy and attracting foreign direct investments.

The ACP countries have been grouped into regions so as to tailor the arrangements to suit specific local circumstances. The agreements give free access to the EU markets without export duties, whereas ACP markets will only gradually be opened to EU products and services. The most advantageous rules are applied to the least-developed countries.

"With the economic partnership agreements, we not only want to enhance trade, but also to reach out to continents like Africa and strengthen the trade bonds that tie us together," declared Steven Vanackere, President of the Council and Belgium's Foreign Affairs minister. "In doing this, we want to reconcile development with the multilateral trade framework."

More information:
Press release 
Webcast of press conference