A successor to the Lomé Agreements, signed on 23 June 2000 in Cotounu, Benin, between the European Union and 73 states in Asia, the Caribbean, and the Pacific (ACP). It aims at the gradual complete liberalization of trade between the signatory states by 2020, while the poorest ACP states are given complete tariff‐free entry to the EU market in 2005. Cotounu was more far‐reaching than its predecessors in the economic sphere, but it also inaugurated a new era of political cooperation. For the first time, the European Union used its agreement with the ACP states to encourage and monitor human rights, political stabilization, and the rule of law.globalization; HIPC initiative
globalization; HIPC initiative
Subjects: Contemporary History (Post 1945).