It is the main aim of the EU immigration policy to regulate the incoming migration flows. It took a long time for the EU to develop a common immigration policy. Starting from ad hoc cooperation the European Union eventually came to the conclusion that immigration is a too sensitive question and significant factor in European life to manage it only with immigration policy measures. In 2005 the Global approach to immigration was adopted which acknowledged the interdependence of different types of migration and the need to combine immigration policy with foreign policy measures, namely the cooperation with third countries which are the source of migrants. Poverty, political instability, economic backwardness and unemployment are supposed to be the main causes of emigration from most countries. Therefore, to reduce the migration flows these causes should be eliminated. It cannot be done by political or military measures but through economic assistance mainly. The EU Development policy is designed for that. According to Lisbon treaty 2009 the Common development policy is aimed at supporting developing and the least developed countries in: 1) sustainable economic and social development; 2) gradual integration in the world economy; 3) the campaign against poverty. Development policy has also become a priority of the EU foreign policy. The EU development policy started in 1957 as the assistance of several member-states to their excolonies. Then the European Development Fund was established to provide developing countries with financial and technical assistance. In 1963 the first Yaounde Convention was signed between the EEC and 18 African states which got free access to European domestic markets as well as grants and loans from the EEC for 5 years. After the expiry of the second Yaounde Convention (1970-75) it was succeeded by four Lome Conventions which covered the period from 1975 to 1999. They were aimed at building stable economies in African, Caribbean and Pacific (ACP) countries through the access of their exports to European markets free of duty as well as economic aid and investment into them. During these years both the amount of aid coming from Europe and the number of partners were rising. However, this policy did not meet the needs and expectations of the recipients. Moreover, in the 1990s new democratic states appeared in Europe which needed the EU assistance and were their immediate neighbours. Therefore, the neighbourhood policy became the EU priority. Since 1997 the EU development policy was revised. According to the Millennium Development Summit 2000 the eradication of poverty in developing countries was named the main goal. As a result the Cotonou agreement was signed between the EU and the ACP countries. It established a new approach aimed at the reduction of poverty, strengthening the political dimension and entrusting the ACP states with greater responsibilities. In addition to this the EU has developed its development strategy for Africa (2005). The EU is the largest donor of financial assistance to developing states in the world. However, development policy measures will pay off in the long term only.