Lome Convention Agreement

By April 10, 2021 No Comments

Five Generations of ACP-CE Agreements The new partnership agreement between the 15 Member States of the European Union (EU) and the African, Caribbean and Pacific (ACP) states marks five generations of agreements between sovereign ACP-CE states. It is the most important financial and political framework in the world for North-South cooperation. This particular partnership is characterized by its non-reciprocal trade advantages for ACP countries, including the unlimited entry into the market of 99% of industrial products and many other products, particularly for the least developed countries (LDCs), which are in the ACP 39 group. In addition, aid envelopes for each ACP country and region are regularly updated. One of the unique features of the ACP-CE agreement is the dialogue and joint management of its content by the Community and the ACP states. ACP states are free to submit applications negotiated with the COMMUNITY. Institutions provide ongoing dialogue; an annual ACP/EU Council of Ministers, periodic meetings of the Acp Ambassadors Committee, which receives technical assistance from a permanent ACP secretariat based in Brussels. Acp parliamentarians and members of the European Parliament meet twice a year in a joint assembly where partnership issues are discussed. A “national indicative programme” (PIN) is negotiated between the European Commission and an ACP state and sets development targets, particularly in primary or health education.

B and includes an annual spending commitment for each country, tailored to these needs. The PMI is funded by the European Development Fund (EDF), the financial protocol for each agreement to which EU Member States contribute. Traditionally, the EDF allocates funds to regional cooperation, other EU overseas countries and territories (PTOM), humanitarian aid and emergency aid, and non-governmental organisations. Additional loans from the European Investment Bank (EIB), particularly for infrastructure, have also become a feature of cooperation. Lomé`s much-loved partnership is based on a body of common objectives and principles, as well as the commercial and financial advantages that are granted over hours to become Lomé`s achievement.