EU and ACP States reach a new milestone towards the replacement of the Cotonou Agreement

Economic governance

Monday, 07 December 2020 12:38

EU and ACP States reach a new milestone towards the replacement of the Cotonou Agreement

(Togo First) - After months of talks between negotiators from the European Union (EU) and the Organisation of African, Caribbean and Pacific States (OACPS), the two parties reached an agreement on a political treaty that will replace the Cotonou Agreement. The latter which has already expired was signed in 2000 and regulated free-trade between ACP states and the EU.

The new agreement, reached last Thursday, is a significant milestone in the talks which started in September 2018 at the general assembly of the UN in New York.

For Robert Dussey, Togo’s foreign affairs minister and chief negotiator who represented the ACP bloc in the negotiations, “the political deal reached today, after long and intense talks, paves the way towards a modern partnership that will be more engaging at the national, regional, and international levels.”

According to an official statement, the new text will cover “a great number of areas,” notably sustainable growth, human rights, peace, and security, among others, while focusing on regional priorities.

However, some members of the EU parliament warned they would block the treaty if it does not include provisions granting a bigger oversight role for members of parliament from each bloc, with clear functions and powers.

There is therefore much room to cover before the new accord is materialized. Regardless, once it is finalized and ratified, the agreement will set a framework for relationships (economic, political, and cooperation) between the EU and all 79 ACP members - two blocs which together boast a population of 1.5 billion people.

In the best-case scenario, the new deal should be finalized and signed in 2021.

Ayi Renaud Dossavi

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.