What is the purposefunction or role of lome agreement?

The Lome Agreement serves as a framework for cooperation between the European Union and the African, Caribbean, and Pacific (ACP) countries. Its primary purpose is to promote development, trade, and investment by providing preferential access to EU markets, financial aid, and support for sustainable development projects. Additionally, it aims to foster political dialogue and enhance cultural exchanges among the signatory countries. Overall, the agreement seeks to strengthen economic and social ties while addressing the unique challenges faced by ACP nations.