Somalia to sign the Cotonou Agreement

[Chimera]

I hope this will eventually again lead to Somali agricultural products having access to lucrative European markets.

 

The EU will accept the request of the Federal Republic of Somalia to accede to the ACP-EU Partnership Agreement ("Cotonou Agreement"), was decided at the last foreign affairs Council of the European Union the Union, held on 27-28 May in Brussels.This will be the position to be presented by the EU at the the upcoming ACP-EU Council of Ministers to be held in Brussels on 6/7 June.

 

Until now, Somalia was not a signatory of the Cotonou Agreement, as it did not have the necessary functioning institutions to sign and ratify it. In this conditions, access to resources for development finance cooperation under the 10th European Development Fund (period 2008-2013) has been granted to Somalia by the ACP-EU Council of Ministers1 under article 93.6 of the ACP-EU Partnership Agreement, which provides with support that concerned especially institution-building and economic and social development activities.

 

The Cotonou Agreement was signed in Cotonou on 23 June and revised in Luxembourg on 25 June 2005. It is the most comprehensive partnership agreement between developing countries and the EU.

 

Source:

Council of the EU

[Haatu]

Isn't the country's formal name the Somali Republic?

 

Good news btw.

[Tallaabo]

Haatu;956536 wrote:

Isn't the country's formal name the Somali Republic?

 

Good news btw.

That was the old name during the union.

[Aaliyyah]

Good news indeed. Masha'Allah.

[Haatu]

Tallaabo;956539 wrote:

That was the old name during the union.

Which was never changed right other than the SDR era?

[D.O.C]

You expect somalia to prosper with help of the EU:D when the current political situation in somalia is its lowest point. God helps those who help themselves.

[Carafaat]

Its a good step. Although it will be difficult for Somalia to actually make use of these preferences. First you need to have a productive sector able to export, second you need trade specialist to make sure products qualify under all the different quality and health standards.

[Chimera]

^In the immediate term, this agreement will open the door for large funds, which is what the Federal Government needs at the moment, to prop up its financial and national institutions, such as the Central bank and military.