| Abstract: | The Lomé Convention was signed on 28 February 1975 between the nine EEC members on the one hand and the forty-six ACP countries on the other. Purpose of this paper is to analyze carefully the implications of the Convention, particulary the trade liberalization and export stabilization provisions for the economies of the ACP signatories. Specifically the paper first reviews the background to Lomé and the divisive impact of past agreements with the EEC on African solidarity and cooperation. It then examines the implications of trade liberalization for trade in agricultural commodity and manufactures against the background of the general system of preferences granted by the EEC to the Third World in 1975, the Common Agricultural Policy of the EEC, and the on-going efforts to establish the Economic Community of West African States. Next, the role of stabilization of export earnings is assessed. Finally an overall evaluation of the Convention is made. Notes. |
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