Customs exemption for all goods from the least-developed countries

The European Union approved on the 26 February 2001 the European Commission's groundbreaking proposal to eliminate quotas and duties on all products except arms from the world's 48 poorest countries in the world. The EU Council of Ministers, meeting in Brussels, agreed to the plan which will make the EU the world's first major trading power to commit itself to opening its market fully to the world's poorest countries. Welcoming the move, European Trade Commissioner Pascal Lamy told a press conference: “It's a worldwide first. At the end of the day, we will have 100% access, with no exclusions, except of course for arms. We have delivered on our fine words. This sends a signal to the rest of the world that we are serious about getting the most disadvantaged to share in the fruits of trade liberalisation”. Mr Lamy paid tribute to United Nations Secretary-General Kofi Annan, who had personally written to EU Heads of State to encourage them to support the measure. Swedish Trade Minister Lief Pagrotsky, who chaired the meeting of EU ministers, said: 'We hope this will put pressure on other countries to follow our example.'

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