The European Union and West African countries agreed on June 17th 2009 to conclude a regional agreement on trade in goods and development cooperation by October 2009. In a meeting held in Brussels between EU Commissioners for Trade and for Development and Humanitarian, and President of  ECOWAS , UEMOA and  West African Ministers, both sides reaffirmed their commitment to moving forward the longer term process to build a lasting partnership between the EU and West Africa.

The agreement to be reached by October 2009 with the whole West African region will cover trade in goods, some trade rules and development cooperation, and will lay the foundations for a comprehensive agreement between the EU and West Africa. The "EPA Programme for Development" (PAPED) was identified as an essential pillar to boost competitiveness of the region, reduce adjustment costs of the EPA, and support regional integration.

European and West African negotiators had met the previous week in Cotonou (Bénin) and again just before the ministerial meeting in Brussels, involving EU Trade Commissioner, Commissioner for Development and Humanitarian Aid, ECOWAS (Economic Community of West African States) and UEMOA (Union économique et monétaire ouest-africaine). Compromises were found on export taxes and free circulation, and on EPA-related development co-operation.

It was agreed to continue negotiations on services and certain trade-related issues, such competition and sustainable development, in a phase to be initiated in January 2010. Some other topics including the Most Favoured Nation (MFN) clause were identified as issues where a compromise needs to be found.

Commissioner Michel highlighted that this “meeting is a clear sign that we are back on track - making steady progress with our West African partners. Our goal must remain to reach an agreement on a full EPA that brings development support and benefits for all countries in the region. This will support regional integration: regional markets that attract investment and sustain jobs and regional governance that can address problems which individual countries can no longer solve on their own. This is much needed during difficult times - such as the present financial crisis." The signature of this Economic Partnership Agreement follows the renewal of EU's commitment to support African regions in the present economic crisis situation, which was stated by the Commission on May 2009 by the signature of Joint Statements with mayor African Financial Institutions.

EU/West Africa Trade Relations

EU-West Africa bilateral trade was worth €43.6 billion in 2008, with more than half of this EU-Nigeria trade. The EU mainly exports industrial goods, in particular machinery (including electrical machinery, 23%), and vehicles (7%) to the region. Aside from oil from Nigeria (55% of West African exports) the region's main exports to the EU are cocoa (11%), iron (8%) and rubber (6%).

Two West African countries, Côte d'Ivoire and Ghana, initialled bilateral "stepping stone" (or "interim") EPAs with the EU at the end of 2007. The interim EPA with Côte d'Ivoire was signed on 26 November 2008. The new regional EPA will replace these interim EPAs. The region of 16 countries includes 13 least developed countries that benefit from the "Everything but Arms" trade preferences of the EU. Nigeria, representing almost half of the population and GDP of West Africa, is not a least developed country, and has now shifted to the Generalised System of Preferences (GSP), under which it benefits from 0% duty on oil, its main export accounting for 95% of its total exports to the EU.