Payments arrangements between African countries and the socialist countries of Eastern Europe

Abstract

At its last session held in Addis Ababa from 1 - 3 February 1982, the Conference of African Ministers of Trade, again stressed the need to develop trade and economic relations between the two groups of countries. The aim of this document; is to consider how the trade and economic relations between the two groups of countries may be intensified by improving the legal basis underlying these relations. It includes the information now available on the payments arrangements made between the African countries and the Socialist countries of Eastern Europe; highlights the problems arising from the implementation of existing payments agreements; and identifies the role played by these agreements in the promotion of trade between the two groups of countries. Part of the study examines the prospects of improving these arrangements.