Africa's expectations under Lome IV Convention in the area of trade

Abstract

Fifteen member states of European Union(EU) constitute a major African traditional trade partners. 57:2 percent of total Africa's products went to EU in 1992 and Africa's imports from EU accounted for 48.7 percent of her total imports in the same period./. Yet Africa's share in EU import trade has been declining over the years. Ayailabieikta indicates a deep fall from 6.3 percent share in 1980 to only 3.3 percent in 1992 of EU total imports. Prospects seem to be glimmer as Africa loses out on her overall competitiveness in both production and trade to other third world countries notably in East Asia and the Pacific II. Such is the sombre picture in spite of Africa's long standing preferential trade benefits under Lome Conventions including the current Lome IV.