Contouno Agreement

Forums Cape Verde – Property / Invest Forum Contouno Agreement

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    rick36
    Member

    The Contouno agreement and the special arrangement with Cape Verde and the EU may facilitate an approach to the Cape Verde Government for protection. An MEP has tabled the question of these agreements and below is the answer

    E-004358/2015 Answer given by Mr Mimica on behalf of the Commission (28.5.2015)

    The Commission is aware of this case involving the Cape Verdean property developer TECNICIL and Banco Espirito Santo. The EU Delegation in Cape Verde received complaints from British and Irish citizens regarding their investment in “Vila Verde” with which the EU has neither direct nor indirect link nor involvement. This issue has been raised with the authorities within the regular political dialogue.

    Chapter 7 of Title II of the Cotonou Agreement, including Articles 75 and 77, needs to be interpreted in the context of Article 74 which explicitly states that strategies and policies to develop private sector investment, as described in the Agreement, shall be supported through financial and technical assistance. It sets out a specific area for financial cooperation between ACP States and the EU and contains elements of the strategies and policies that shall be developed and supported.

    Article 75 in particular remains rather broad as it clearly states that measures shall be taken within each country’s respective competencies. Article 77 on investment guarantees describes a possible form of financial assistance that could be provided. Whether or not such assistance is to be provided has to be negotiated on a case by case basis with the ACP country.

    None of these articles establish a direct and enforceable obligation on the EU or the ACP States to take specific measures regarding a foreign investment.

    The Cotonou Agreement does not establish a legal basis or mechanism for addressing non-compliance with these provisions.

    Therefore each individual should write separately .to the following Cape Verde Officils using the above answer
    H.E. Dr. Antonio Mascarenhas Monteiro
    Presidencia da Republica P.O. Box 100
    Praia, Santiago
    Republic of Cape Verde (West Africa)
    Tel:=(238) 616555 (Office of the President)
    Fax:=(238) 614356/1739
    H.E. Dr. Carlos Whanon de Carvalho Veiga
    Gabinete do Primeiro Ministro
    Palacio do Governo
    Praia, Santiago
    Republic of Cape Verde (West Africa)
    Tel:=(238) 610513( Office of the Prime Minister)
    Fax:=(238) 613099
    Dr. Oscar Gomes
    Supremo Tribunal de Justiça
    Gabinete do Juiz Presidente
    Praia, Santiago
    Republic of Cape Verde (West Africa)
    Tel:(238) 615808
    Dr. Amilcar Spencer Lopes
    Ministerio dos Negocios Estrangeiros
    P.O. Box 60
    Praia, Santiago
    Republic of Cape Verde ( West Africa)
    Tel: (238) 615727 (Office of the Minister)
    fax: (238) 613952
    Dr. Amilcar Spencer Lopes
    Ministerio dos Negocios Estrangeiros
    P.O. Box 60
    Praia, Santiago
    Republic of Cape Verde ( West Africa)
    Tel: (238) 615727 (Office of the Minister)
    fax: (238) 613952

    Good luck

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