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Enhancing Investment in West Africa

The Role of Investment Instruments in Economic Partnership Agreement Negotiations

image of Enhancing Investment in West Africa

The Economic Partnership Agreement between the European Union and the ECOWAS states of West Africa envisages cooperation between the two sides with the aim of enhancing investment and private sector development in the ECOWAS region. This study explores the options available to ECOWAS states for promoting, protecting and guaranteeing flows of domestic and foreign direct investment, in the context of the ACPEU Economic Partnership Agreements, so that development gains are realised in these economies.

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Executive Summary

The Cotonou Partnership Agreement (CPA) endorses both the goal and strategy of develop ment of the West African and other African, Caribbean and Pacific (ACP) countries, and provides for co-operation in the form of support for investment and the enhance - ment of private sector development in these countries. The Agreement only sets the stage for co-operation; its precise framework and the forms it will take will be the subject of negotia tions for economic partnership agreements (EPAs) between the European Union (EU) and ACP regional sub-groups. These negotiations will determine the specific forms of co-operation in the areas of investment and private sector support, as well as how such co-operation will be incorporated into the EPAs. The ACP regional groups obviously have an interest in ensuring that the investment and private enterprise component of the negotiated EPAs will promote, protect and guarantee the flow of domestic and foreign direct investment (FDI) to ACP countries.

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