§ Lord O'Haganasked Her Majesty's Government:
Whether they will make a statement about the advantages to members of the Commonwealth of the recently renegotiated Lomé Convention.
§ The Minister of State, Foreign and Commonwealth Office (Baroness Young)The 35 Commonwealth members of the African, Caribbean and Pacific (ACP) Group of States will derive substantial benefits from the recently concluded Third Lomé Convention. The trade provisions of the convention provide generous access to ACP exports (although we would like to have seen even more trade liberalisation). And each ACP state will receive its fair share of the Sixth European Development Fund (7400 million ecu—£4,405 million) and of the enhanced lending by the European Investment Bank (up to 1,100 million ecu—£655 million). The predominant beneficiaries of the special arrangements for rum, bananas, beef and sugar are Commonwealth countries. Other benefits include access to the Stabex scheme (for the stabilisation of export earnings from commodities) and the Sysmin facility (to help mineral producers whose production and income falls as a result of factors beyond their control).