EU - ACP
The European Union (EU) and l’Africa have a long tradition of trade agreements and negotiation. From the dependency state of the colonial area, trade relations between these partners entered a new phase of interdependency under the Yaoundé and Lomé conventions that laid down the rules for cooperation between the European States and African, Caribbean and Pacific countries (ACP).
After the formation of the EU, the trade treaty was revised and signed under the “Everything but Arms” Regulation’s precept. The new treaty presented a more favorable generalized system of preferences (GSP).
The EU and ACP trade agreement lays down conditions for EU-ACP trade reciprocity. The EU continues to be Africa's leading trade and development partner with the highest FDI ratio.