Overseas Countries and Territories, OCTs
Most former colonies of France, the UK, Belgium and The Netherlands enjoy free access for their non-agricultural exports into the EU and receive some financial assistance.
Every EU country now has the same right as the former colonial empire countries to establish firms and economic agents in the OCT countries and sell their products. The OCT's are associated to the EU through a special chapter in the TEC.
Notes
In 1985, Greenland changed its relation with the EU from being a member of the EU (as part of Denmark) to an OCT. See Greenland.Links
http://www.europa.eu.int/scadplus/leg/en/s05034.htm