Presented By: Dharamkumar Seeraj

28th -29th June 2011, Grand Coastal Hotel, Guyana

Economic Development, Trade and Finance

Lome ConventionAn international aid an trade agreement

between the e ACP an the EU.Aimed at supporting the ACP states efforts to

achieve comprehensive self reliant an self sustained development.

Lome I 28th February 1975.Lome II 1979.Lome III 1985.Lome IV 1990-2000.

Covenants of the ConventionCooperation is based on partnership, equality,

solidarity an mutual interest.Recognises the principal of sovereignty and the

right to define own development strategies an policies.

Affirming development centered on people.Respect and promotion of human, political, social

and economic rights.Establishment of development finance cooperation

chapters.Environment, agriculture, rural development,

fisheries, trade, cultural and social cooperation, etc.

ReasonsAssist ACP states development.Duty-free access for export.Commodity export compensation.Financial aid.

Cotonou AgreementSigned 23rd June 2000 between ACP and the

EU.Duration for 20 years, from March 2000 to

February 2020.First Revised in 2005.Focused on development cooperation,

economic and trade cooperation and political dimension.

Economic Partnership AgreementLatest agreement between the ACP (seven

regional groupings) and the EU.Effective from 2008.Allows for WTO compatibility.Involves the phase out and removal of trade

preferences.Progressive removal of trade barriers.Provides for the maintenance of limited

protection for vital products.