Cameroon is a party to the Cotonou Agreement, which follows on from the previous Lomé agreements, and forms the backbone of the partnership between the European Union (EU) and the ACP countries. Signed on June 23, 2000 for a period of 20 years, the agreement aims to reduce and ultimately eradicate poverty, support the sustainable economic, cultural and social development of partner countries, and facilitate the gradual integration of their respective economies into the world economy. The agreement includes cooperation activities to promote:
a). Economic development targeting the industrial, agricultural or tourism sectors of ACP countries;
b). Social and human development to improve health, education and nutrition services;
c). Regional cooperation and integration to promote and develop trade between ACP countries.
With regard to trade, the Cotonou Agreement guaranteed preferential access for products from ACP countries. However, the asymmetrical nature of the Cotonou Agreement, which was no longer compatible with WTO rules, led to the dismantling of preferences and the introduction of regional economic partnership agreements.
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