The Lomé Agreement is a treaty signed between the European Union (EU) and 71 ACP (African, Caribbean, and Pacific) countries in 1975. The agreement is named after the capital city of Togo, where it was signed. The treaty aimed to promote economic cooperation between the EU and the ACP countries, reduce poverty, and support the development of ACP countries.
The Lomé Agreement was a significant step in EU-ACP relations as it was the first agreement that provided a framework for long-term cooperation between the two regions. It provided ACP countries with financial and technical support to promote economic and social development. The agreement also opened up markets in EU countries to ACP countries` exports, which helped to stimulate their economies.
The Lomé Agreement consisted of four main conventions. The first convention was the trade agreement, which allowed ACP countries to export certain goods to the EU tariff-free. The second convention was the financial protocol, which provided ACP countries with financial assistance from the EU. The third convention was the institutional framework, which established the Joint Assembly, a forum for dialogue between the EU and the ACP countries. The fourth convention was the development cooperation agreement, which aimed to promote economic and social development in ACP countries.
The Lomé Agreement was renewed four times, with the last renewal in 2000. The agreement was replaced by the Cotonou Agreement in 2000, which aimed to build on the achievements of the Lomé Agreement while also addressing new challenges such as human rights, democracy, and political governance.
In conclusion, the Lomé Agreement was a landmark treaty that helped to promote economic cooperation between the EU and ACP countries. The agreement provided ACP countries with financial and technical support to promote economic and social development, opened up markets in EU countries to ACP countries` exports, and established the Joint Assembly as a forum for dialogue. The Lomé Agreement was a significant step in EU-ACP relations, and its impact can still be felt today, even though it has been replaced by the Cotonou Agreement.