The future agreement will cover priority areas such as. B: Under the new agreement, the EU will be able to be more selective and flexible in allocating and using its development resources. Endowments are based on an assessment of a country`s needs and performance and include the ability to regularly adjust financial resources. In practice, this means that more money can be paid to “good interpreters” and that the proportion of “bad interpreters” can be reduced. The EU funds most of its development programmes for ACP countries through the European Development Fund (EDF). These funds are not part of the EU`s overall budget. They are subject to internal agreement between the Member States meeting in the Council. The ACP-EU Joint Parliamentary Assembly is an advisory body made up equally of representatives from the EU and ACP countries. The Assembly promotes democratic processes and facilitates a better understanding between the peoples of the EU and those of the ACP countries. Issues related to development and the ACP-EU partnership, including economic partnership agreements, will also be discussed. In a 1996 Green Paper, the Commission defined the founding principles of the Convention, which would have replaced Lomé IV (which was due to expire in February 2000) in order to bring it in line with the rules of the new World Trade Organization (WTO).
Negotiations began in September 1998 and ended in June 2000 with the signing of the Cotonou Agreement for a period of 20 years. The agreement introduced a number of new elements: it allowed non-state actors (private sector, trade unions, civil society) to participate in the definition of development strategies; Trade policy was no longer seen as an aid instrument, but as an objective in itself; and the tariff advantages granted to ACP countries have had to be phased out because they are at odds with WTO rules. It was planned to replace them with economic partnership agreements based on the principle of reciprocity, although the implementation of these agreements was complicated, with most ACP countries fearing to open their markets. Stabex and Sysmin have been replaced by a long-term development fund managed under more difficult-to-control conditions. Finally, the agreement contains clauses on cooperation on the prevention of weapons of mass destruction, the fight against terrorism and the support of the International Court of Justice, so it is essential to coordinate the policy of cooperation with the Community`s foreign policy, developed after 1992 with the Maastricht Treaty and the CFSP (common foreign and security policy).