Benin is signatory to all relevant international trade conventions of the World Trade Organization and the United Nations Conference on Trade and Development.  Benin is part of the trade agreements between the European Union, African Union, Caribbean and Pacific countries.  Benin is also a member of regional and sub-regional economic unions such as ECOWAS and WAEMU.  In 1993, Benin ratified the convention providing for the establishment of the Multilateral Investment Guarantee Agency that aims to improve investment opportunities in developing countries and promote investment flow.