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ACPEU Trade and Aid Cooperation

Post Lomé IV

image of ACPEU Trade and Aid Cooperation

The Lomé IV Convention, which provides the framework for development cooperation between the European Union (EU) and 71 African, Caribbean and Pacific (ACP) states, expires in the year 2000. The form that a successor arrangement would take, will be of considerable importance to the ACP countries, more than half of which belong to the Commonwealth. This study examines the possible options for the next phase of ACPEU cooperation, addressing the diverse trade and development interests of ACP countries.

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Aid and Foreign Investment in a New Agreement

The ACP countries rely on the EU for 47% of their aid, but budgetary pressures in the EU countries will mean that future flows of aid are unlikely to increase in real terms. It is therefore essential that the ACP countries look for ways to increase the efficiency of the financial and technical assistance they received. In the context of the Lomé Convention; this requires a recognition that Community aid comprises only one-fifth of EU aid and under the Maastricht Agreement, is required to be complementary to that of the member state.

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