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Flashcards in Lome - trade Deck (21):
1

Since 1975 what has the Lome convention been?

Been EU's comprehensive trade and aid agreement with developing countries in Africa, the Caribbean and the Pacific

2

What is Lome the capital of?

Togo

3

What has reduced the once significant benefits of Lome?

Globalisation and free trade

4

When did negotiations for a new agreement?

September 1998

5

What is the EU's favoured option for the new agreement?

Create a series of regional free-trade areas linking the Union with groups of developing countries

6

What is the Lome convention?

Is an agreement linking the 15 member states of the EU to the 71 member African, Caribbean and Pacific group of states, the so called ACP states

7

What countries belong in the ACP category?

48 in Africa
15 in the Caribbean
8 in the Pacific
(All Europe's former colonies)

8

How poor are many of the ACP states?

Of the 50 countries identified by the UN as the world's poorest, 41 are in the ACP group

9

What 2 components was Lome split into?

Aid and trade

10

Between 1996-2000 how much financial aid was given?

14.7 billion ECU (one ECU worth about 65p)

11

What is one distinguishing feature of the union's aid programme?

Concentrates more than others on agricultural and rural development projects, which constitute more than 50% of total expenditure

12

How is aid distributed?

Evenly between recipient countries

13

Compared to the USA and Japan what is Lome aid programme considered to be?

Less concerned with strategic and commercial interests and more focused on development

14

What does the union support?

Supports organisations and development projects with a regional dimension, like transport networks or electricity grids that operate between two or more countries

15

What does Lome garuntee for trade?

Special access to the European market place

16

What dies special access to European markets mean for ACP countries?

Taxes in the forms of tariffs, paid by American, Japanese and other exporters when they send goods to Europe aren't paid by ACP exporters

17

In 1999 what were ACP exports like?

100% of ACP industrial exports and almost 80% of agricultural products entered EU market without having to pay any tariff

18

What does the non-reciprocal character of the agreement mean?

Although ACP exporters don't have to pay tariffs on goods entering Europe, they are allowed to tax European made products entering their countries

19

How successful had Lome been in the east 15-20 years/

Suggests that Lome trade preferences have not acted as a great stimulus to ACP exporters

20

In 1983 what % of EU imports came from ACP states?

6.5%

21

In 1994 what % of EU imports came from ACP states?

3%