Lomé agreements

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Lomé agreements

the agreements of 1975 and 1979 that were entered into by the EUROPEAN UNION (EU) and by 70 African, Caribbean and Pacific (ACP) countries and that provide for TARIFF-free entry into the EU market of a wide range of ACP primary products and manufactures.

The agreements also cover the provision of ECONOMIC AID to the ACPs through the EUROPEAN DEVELOPMENT FUND and the EUROPEAN INVESTMENT BANK and established the Stabex and Minex schemes to stabilize the export earnings of those ACPs especially dependent on volatile agricultural and mineral products.

References in periodicals archive ?
These facts, in contrast to the general opinion about the effectiveness of the Lome Agreements, show that for the favoured nations preferential trade has played an important role in ensuring that the SADC countries are not marginalised from international trade flows (Coodison, 2000; Matambalya, 1998).
It is noteworthy that the Lome Agreements between the EU and ACP states lasted until the end of the 20th century.
The relationship between the EU and ACP states dates to the Yaounde and Lome Agreements of 1958, when the European Development Fund was established.
development policies, embedded in the Treaty of Rome, continued with the Yaounde Conventions and extended to its maximum by the Lome agreements, has in many ways become both an anachronism and a straighjacket for E.