New ACP policy targets transformation of agricultural commodities sector
Brussels, 15 June 2017/ ACP: A new policy approach to commodities is expected to focus efforts by the ACP Secretariat and its partners, in order to reap maximum impact in the transformation of the agricultural commodities sector in ACP regions.
The document Investment and Transformation in the ACP Agriculture Sector: A new approach to ACP Group support for the development of agriculture value chains was endorsed by the ACP Council of Ministers during its 105th session in May. It was presented to partners this week in Brussels, at the ACP Secretariat.
Agricultural commodities represent a key driving force for private sector development in ACP states, accounting for approximately 90% of total exports. Moreover, the agricultural sector continues to employ the majority of the working population in ACP countries, and contributes an average of 20% of GDP (ranging from over 50% in Chad to 0.8% in the Caribbean).
In fact, the World Bank believes that grown in the agricultural sector is more than twice as likely than any other sector to be effective at reducing poverty.
The new approach focuses on value chain development, targeting small producers including youth and women, as well as other value chain operators, and connecting them to the market. The Approach advocates for investment in agriculture, fisheries and livestock farming as well as integration of the agro-industrial sector into national, regional, and international value chains, thereby attaining the goals employment and wealth creation.
It is based on four (4) Pillars namely: Finance, Capacity Building, Trade and Investment and Climate Change. Finance is the main sector of concentration for intra-ACP intervention as it is the main constraint that weighs heavily on ACP farms and prevents the modernisation of the sector.
The New Approach confirms the role of the Secretariat as a facilitator not only of implementation of interventions, but also of knowledge sharing and lessons learning.
The validation of this policy document will now facilitate mobilisation of resources to support development of value chains in ACP Countries and regions, based on modalities that are being finalized.
It is proposed that the New policy be reviewed every three (3) years, including any modifications of coverage.
– ACP Press