 Committee to monitor and implement euro-aidPALIKIR, Pohnpei (FSM Information Service): July 27, 2001 - A National Authorizing Committee (NAC) has been established by the Federated States of Micronesia to be its implementation mechanism for the Cotonou Agreement. The Cotonou Agreement is an accord between the European Union and country members from Africa, Caribbean and the Pacific islands (ACP/EU). The aim of the Agreement is to expedite economic, cultural and social development of the ACP states through financial resources and technical assistance. The Agreement in addition, through investment and private sector development, seeks to promote peace, security and stability for the democratic integration of the ACP countries into the world economy. The Pacific ACP states entered into a new Partnership Agreement with the EU in June 2000. FSM became a signatory to the Cotonou Accord in November when Vice President Redley Killion signed the agreement in Brussels. While the Agreement awaits ratification by Congress, the preparatory process is underway. As required, the NAC is established and tasked with the preparations and procedures for the establishment of the Agreement. The NAC is comprised of the following Executive departments:
The Committee is charged with advancing the interests of the FSM under the Cotonou Agreement. The NAC will organize itself and in collaboration with the State Governments come up with a Country Support Strategy (CSS). The CSS will outline the priority sectors for which the funding will be used over the next five years. |