Press Release: Commission authorises Pacal Lamy to adapt ‘Everything but Arms’ initiative in order to faciliate approval by Council of Ministers

On 7.2.01, the European Commission formally authorised EU Trade Commissioner Pascal Lamy to propose modifications to its 'Everything but Arms' (EBA) proposal to the EU Council of Ministers in order to facilitate approval of its groundbreaking plan to provide full duty and quota-free access for the world's 48 least developed countries (LDCs) into EU markets. Whilst safeguarding the principle that EBA will cover all goods except the arms trade, the scenario to be proposed to the Council will allow Mr Lamy to show flexibility on the transition periods for full liberalisation concerning only three particularly sensitive products (sugar, rice and bananas), if necessary. This would be counterbalanced by the immediate provision of increased effective market access for LDCs.