EU-ACP discussions alive to havens and CBC reporting

The European Union has a long history of special relationship with the formal grouping of 79 African, Caribbean and Pacific (ACP) countries since the Lomé convention of 1975. It focused on political dialogue, commercial relations and development cooperation within the multilateral framework.

A new framework agreement between the two groupings is due to be signed by March this year. We are pleased to note that a new report on the progress on the ACP negotiations has been produced by Eva Joly, and notes that

"The European Parliament calls on the Commission and ACP governments to include the fight against abuse of tax havens, tax evasion and illicit capital flight as a matter of priority in the Cotonou Agreement. An international binding mechanism would force "all transnational corporations to disclose automatically the profits made and the taxes paid in every ACP country where they operate". According to MEPs, effective and viable tax systems in the ACP countries could be a source of development funding, which could in the long term replace foreign aid dependency."

Bit by bit, more progress. A very, very long way to go.