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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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Introduction

Partly as a result of the poor economic growth performance of many West African countries since the late 1970s and partly as a reflection of the range of economic reforms that have been embarked upon in these countries since the mid-1980s, poverty eradication has become the overarching goal of economic development strategy across the region. The reforms generally focus on rapid and sustainable economic growth as the primary vehicle for poverty alleviation, and they also presume that the required growth will essentially be led by the private sector. Thus both the development goal and the strategy to which West African countries subscribe place considerable emphasis on investment promotion and the enhancement of private enterprise.

English

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