Theresa I. Yard


This Note will analyze Lome III's private investment protection and promotion provisions to determine whether the provisions would actually promote the flow of capital needed by the ACP States to meet their development goals, or whether these provisions merely perpetuate the elements of the historical colonial relationship that persisted under the prior Lome Conventions. Part I of this Note will detail the historical relationship between the ACP States and the EEC countries, emphasizing the prior Lome Conventions. Part II will give the background of Lome III, and will review the Convention's private investment provisions. Part III will analyze the effect of article 243, regarding investment protection agreements, and article 244, concerning investment insurance and guarantees, on the flow of private investment to ACP States. The Note will conclude that the private investment provisions are indeed a step toward promoting the economic development of the ACP States, if two conditions are met. First, the EEC and ACP must fulfill the promises that they have made to study the problems that discourage private investment and take substantive action based upon these studies. Second, the rules of origin and the safeguard cluase of the Lome III Convention must be modified.