In order to adapt to new challenges, the agreement was revised in 2005 and 2010 to focus more on the following: the Cotonou agreement provides for a procedure that can be applied when one of the parties does not respect the essential elements of the partnership. These include respect for human rights, democratic principles and the rule of law. The EU will work towards a comprehensively revised agreement, based on a common basis at THE ACP level, in conjunction with three bespoke regional partnerships for Africa, the Caribbean and the Pacific. In July 2014, 16 West African states, the Economic Community of West African States (ECOWAS) and the West African Economic and Monetary Union (WAEMU) reached an agreement with the EU. The signing process is currently underway. (Source: European Parliament Briefing – Overview of the EU-ACP Partnership Agreements by Ionel Zamfir) In accordance with the revision clause, the Cotonou agreement has been revised twice to improve the efficiency and quality of the ACP-EU partnership. The first revision was completed on 25 June 2005 in Luxembourg and the revised agreement came into force on 1 July 2008. Under the new agreement, the EU can be more selective and flexible in allocating and using its development resources. Endowments are based on an assessment of a country`s needs and performance and include the ability to regularly adjust financial resources. In practice, this means that more money can be paid to “good interpreters” and that the proportion of “bad interpreters” can be reduced. This gave rise to the Yaounde Agreements of 1963 and 1969, which served as the basis for cooperation between the new independent African states and the EEC.
The Yaounde agreements were based on the final objective of the Treaty of Rome to expand trade and gave the EEC better access to AASM resources and markets. In comparison, many MSA countries remained too dependent on EU markets and continued to focus on exports of raw materials and raw materials. The Yaounde Accords have also been criticized for allowing France`s political and economic domination in French-speaking Africa, which continues to this day. However, the agreements have allowed both access to aid and trade in the EU market on the basis of reciprocity.