The first Lomé Convention (Lomé I), which came into force in April 1976, was designed to provide a new framework of cooperation between the then European Economic Community (EEC) and developing ACP countries, in particular former British, Dutch, Belgian and French colonies. It had two main aspects: It provided for most ACP agricultural and mineral exports to enter the EEC free of duty. Preferential access based on a quota system was agreed for products, such as sugar and beef, in competition with EEC agriculture. Secondly, the EEC committed European Unit of Account (EUA) 3 billion for aid and investment in the ACP countries.
The convention was renegotiated and renewed three times. Lomé II (January 1981 to February 1985) increased aid and investment expenditure to EUA 5.5 billion. Lomé III came into force in March 1985 (trade provisions) and May 1986 (aid), and expired in 1990; it increased commitments to EUA 8.5 billion. Lomé IV was signed in December 1989. Its trade provisions cover the ten years, 1990 to 1999. Aid and investment commitments for the first five years amounted to EUA 12 billion. In all, some 70 ACP countries are party to Lomé IV, compared with 46 signatories of Lomé I.
Lomé development aid was dispersed primarily through the European Development Fund; investment assistance was mainly channelled through the European Investment Bank. Two other important mechanisms were the Stabex and Sysmin schemes, which provided compensatory finance to ACP states for adverse fluctuations in the world prices of, respectively, key agricultural and mineral exports.
The emergence of the single European market at the end of 1992 affected ACP preferential access to EU markets. The Caribbean's many smallholder banana farmers argued for the continuation of their preferential access to traditional markets, notably the United Kingdom.[1] They feared that otherwise the EU would be flooded with cheap bananas from the Central American plantations, with devastating effects on several Caribbean economies. Negotiations led in 1993 to the EU agreeing to maintain the Caribbean producers' preferential access until the end of Lomé IV, pending possible negotiation on an extension.
In 1995, the United States government petitioned to the World Trade Organization to investigate whether the Lomé IV convention had violated WTO rules. Then later in 1996, the WTO Dispute Settlement Body ruled in favor of the plaintiffs, effectively ending the cross-subsidies that had benefited ACP countries for many years. But the US remained unsatisfied and insisted that all preferential trade agreements between the EU and ACP should cease. The WTO Dispute Settlement Body established another panel to discuss the issue and concluded that agreements between the EU and ACP were indeed not compatible with WTO regulations. Finally, the EU negotiated with the US through WTO to reach an agreement.[2]
^For the United Kingdom as traditional importer from the Caribbean, and additional information on the EU member states importers of banana from traditional ACP and PTOM suppliers, namely France from its Overseas Departments of Guadeloupe and Martinique and from former colonies, Cote d’Ivoire and Cameroon; Italy from Somalia; Outside these preferential arrangements, the largest Community market, Germany, obtained all its supplies from Latin America. M.McQueen, C.Phillips, D.Hallam, A.Swinbank, The Lomé Banana Protocol, in "ACP-EU Trade and Aid Co-operation Post-Lomé IV", 1997 . Archived from the original on 1 October 2011. Retrieved 2 May 2015.. Charles E. Hanrahan, The U.S.-European Union Banana Dispute, Congressional Research Service, The Library of Congress, United States, 2001. Hans-Peter Werner, Lomé, the WTO, and bananas, in The Courier ACP-EU No. 166, November–December 1997: pages 59-60
^COHA (16 May 2005). "Banana Wars Continue—Chiquita Once Again Tries to Work Its Omnipotent Will, Now Under New Management: Likely Big Losers Will Be CARICOM's Windward Islands". Council on Hemispheric Affairs (COHA). Washington, D.C.: COHA. Retrieved 9 October 2019.
Further reading
Jonathan Fryer, "The New Lomé Convention: Marriage on the Rocks but No Separation,” International Development Review 1 (1980): 53–54.
Isebill V. Gruhn, “The Lomé Convention: Inching Toward Interdependence,” International Organization 30 (Spring 1976): 240–262.
John Ravenhill, “What Is to Be Done for the Third World Commodity Exporters? An Evaluation of the STABEX Scheme,” International Organization 38 (Summer 1984): 537–574.
Carol C. Twitchett, “Lomé II Signed,” Atlantic Community Quarterly 18 (Spring 1980): 85–89.
External links
Mouradian, Anne-Marie, The Lomé Convention under threat
The full text of the Lome Convention
January 07, 2023
lomé, convention, trade, agreement, between, european, economic, community, african, caribbean, pacific, countries, first, signed, february, 1975, lomé, togo, contents, history, also, references, further, reading, external, linkshistory, editthe, first, lomé, . The Lome Convention is a trade and aid agreement between the European Economic Community EEC and 71 African Caribbean and Pacific ACP countries first signed in February 1975 in Lome Togo Contents 1 History 2 See also 3 References 4 Further reading 5 External linksHistory EditThe first Lome Convention Lome I which came into force in April 1976 was designed to provide a new framework of cooperation between the then European Economic Community EEC and developing ACP countries in particular former British Dutch Belgian and French colonies It had two main aspects It provided for most ACP agricultural and mineral exports to enter the EEC free of duty Preferential access based on a quota system was agreed for products such as sugar and beef in competition with EEC agriculture Secondly the EEC committed European Unit of Account EUA 3 billion for aid and investment in the ACP countries The convention was renegotiated and renewed three times Lome II January 1981 to February 1985 increased aid and investment expenditure to EUA 5 5 billion Lome III came into force in March 1985 trade provisions and May 1986 aid and expired in 1990 it increased commitments to EUA 8 5 billion Lome IV was signed in December 1989 Its trade provisions cover the ten years 1990 to 1999 Aid and investment commitments for the first five years amounted to EUA 12 billion In all some 70 ACP countries are party to Lome IV compared with 46 signatories of Lome I Lome development aid was dispersed primarily through the European Development Fund investment assistance was mainly channelled through the European Investment Bank Two other important mechanisms were the Stabex and Sysmin schemes which provided compensatory finance to ACP states for adverse fluctuations in the world prices of respectively key agricultural and mineral exports The emergence of the single European market at the end of 1992 affected ACP preferential access to EU markets The Caribbean s many smallholder banana farmers argued for the continuation of their preferential access to traditional markets notably the United Kingdom 1 They feared that otherwise the EU would be flooded with cheap bananas from the Central American plantations with devastating effects on several Caribbean economies Negotiations led in 1993 to the EU agreeing to maintain the Caribbean producers preferential access until the end of Lome IV pending possible negotiation on an extension In 1995 the United States government petitioned to the World Trade Organization to investigate whether the Lome IV convention had violated WTO rules Then later in 1996 the WTO Dispute Settlement Body ruled in favor of the plaintiffs effectively ending the cross subsidies that had benefited ACP countries for many years But the US remained unsatisfied and insisted that all preferential trade agreements between the EU and ACP should cease The WTO Dispute Settlement Body established another panel to discuss the issue and concluded that agreements between the EU and ACP were indeed not compatible with WTO regulations Finally the EU negotiated with the US through WTO to reach an agreement 2 See also EditACP countries ACP EU Development Cooperation Cotonou Agreement Stabex The Courier ACP EU References Edit For the United Kingdom as traditional importer from the Caribbean and additional information on the EU member states importers of banana from traditional ACP and PTOM suppliers namely France from its Overseas Departments of Guadeloupe and Martinique and from former colonies Cote d Ivoire and Cameroon Italy from Somalia Outside these preferential arrangements the largest Community market Germany obtained all its supplies from Latin America M McQueen C Phillips D Hallam A Swinbank The Lome Banana Protocol in ACP EU Trade and Aid Co operation Post Lome IV 1997 ACP EU Trade and Aid Co operation Post Lome IV Archived from the original on 1 October 2011 Retrieved 2 May 2015 Charles E Hanrahan The U S European Union Banana Dispute Congressional Research Service The Library of Congress United States 2001 Hans Peter Werner Lome the WTO and bananas in The Courier ACP EU No 166 November December 1997 pages 59 60 COHA 16 May 2005 Banana Wars Continue Chiquita Once Again Tries to Work Its Omnipotent Will Now Under New Management Likely Big Losers Will Be CARICOM s Windward Islands Council on Hemispheric Affairs COHA Washington D C COHA Retrieved 9 October 2019 Further reading EditJonathan Fryer The New Lome Convention Marriage on the Rocks but No Separation International Development Review 1 1980 53 54 Isebill V Gruhn The Lome Convention Inching Toward Interdependence International Organization 30 Spring 1976 240 262 John Ravenhill What Is to Be Done for the Third World Commodity Exporters An Evaluation of the STABEX Scheme International Organization 38 Summer 1984 537 574 Carol C Twitchett Lome II Signed Atlantic Community Quarterly 18 Spring 1980 85 89 External links EditThe Lome Convention Background Mouradian Anne Marie The Lome Convention under threat The full text of the Lome Convention Retrieved from https en wikipedia org w index php title Lome Convention amp oldid 1122073205, wikipedia, wiki, book, books, library,
