In 1973, negotiations on the renewal of Yaounde II, the Commonwealth of Africa, Caribbean and Pacific (ACP) countries, after some hesitation (after Britain`s accession to the EEC), provided an opportunity for a major reform of the EEC`s policy. The new agreement, signed in Lomé on February 28, 1975, made a number of important changes. The concept of an association agreement was abandoned at the request of the ACP countries, which considered it too linked to the colonial past. The EDF recorded one of its largest increases (from ECU 1 billion to ECU 3.15 billion) and ended the reciprocity of tariffs; Only exports from ACP countries were able to enter the internal market freely, leaving the principle of Eurafrica areas of free trade, adopted in 1957. An export revenue stabilization system (Stabex) has been put in place to ensure regular revenue for ACP countries; sugar produced by ACP countries has benefited from the guarantees of the Common Agricultural Policy (CAP) within a five-year ceiling. The ERC has also begun to develop industrial cooperation. At first glance, the Lomé Convention appears to have fulfilled at least some of the aspirations of the New International Economic Order (NIEO), approved by the United Nations in 1974 and representing the central requirements of the G77, the coalition of third world countries within the United Nations. However, the expectations of the ACP countries were largely disappointed. The implementation of the Cotonou agreement has been extended until December 2020. The agreement was originally due to expire in February 2020, but as negotiations on the future agreement are still ongoing, this has been delayed until the end of the year. In 1995, the U.S. government went to the World Trade Organization to determine whether the Lomé IV agreement had violated WTO rules.
Subsequently, in 1996, the WTO`s dispute resolution body ruled in favour of the applicants, effectively ending the cross-subsidies that ACP countries enjoyed for many years. However, the United States remained dissatisfied and insisted that all preferential trade agreements between the EU and ACP countries cease. The WTO`s dispute settlement body has set up another body to discuss the issue and has concluded that agreements between the EU and ACP countries are not compatible with WTO rules. Finally, the EU negotiated the WTO with the United States in order to reach an agreement.   … agreements collectively known as the Lomé Conventions, which guaranteed preferential access to the European Economic Community (forerunners of the European Community and then of the European Union) for various export products from African countries and which provided aid and financing of European investments. Nevertheless, a major export trade has developed with the United States… Under the new agreement, the EU can be more selective and flexible in allocating and using its development resources.
Endowments are based on an assessment of a country`s needs and performance and include the ability to regularly adjust financial resources. In practice, this means that more money can be paid to „good interpreters“ and that the proportion of „bad interpreters“ can be reduced. The Council gives the Commission a mandate to negotiate these agreements and must sign the final agreement as soon as it is concluded. Five Generations of ACP-CE Agreements The new partnership agreement between the 15 Member States of the European Union (EU) and the African, Caribbean and Pacific (ACP) states marks five generations of agreements between sovereign ACP-CE states. It is the most important financial and political framework in the world for North-South cooperation. This particular partnership is characterized by its non-reciprocal trade advantages for ACP countries, including the unlimited entry into the market of 99% of industrial products and many other products, particularly for the least developed countries (LDCs), which are in the ACP 39 group.