29 October 1999
Deal prolongs Lomé convention

THE EU and 71 developing countries have agreed to prolong the trade arrangements of the Lomé convention.

This extends the agreement for eight years after its expiry next February, reports the Financial Times.

The agreement to extend the convention broke a stalemate in negotiations between the EU and the 71 members of the African, Caribbean and Pacific (ACP) group over a successor pact to the Lomé treaty.

The EU had insisted that the ACP should agree a new economic arrangement. These arrangements for ACP exports including rice, beef and veal, cut flowers, and eventually, sugar, will now take place in a transition period.