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ANNEX X

JOINT DECLARATION ON COMPLEMENTARY FINANCING OF INDUSTRIAL COOPERATION

1 . DURING THE NEGOTIATIONS OF THE SUCCESSOR ARRANGEMENT TO THE ACP-EEC CONVENTION OF LOME , THE ACP STATES AND THE MEMBER STATES RECOGNIZED THE NEED TO TAP ADDITIONAL FINANCIAL RESOURCES THAT WOULD MAKE AVAILABLE SUBSTANTIAL CAPITAL RESOURCES FOR INDUSTRIAL DEVELOPMENT . IN THIS CONNECTION THE ACP STATES AND THE COMMUNITY AGREED , GIVEN THE TECHNICAL QUALITY OF COOPERATION BETWEEN THE COMMUNITY AND THE ACP STATES , TO SEARCH FOR AND FIND SUITABLE SOLUTIONS , IN THIS DIRECTION .

2 . THE COMMUNITY ACKNOWLEDGES THE IMPORTANCE ATTACHED BY THE ACP STATES TO INDUSTRIAL DEVELOPMENT WITHIN THE CONTEXT OF THEIR COOPERATION WITH THE COMMUNITY . IT DECLARES ITS INTENTION OF STUDYING IN DEPTH IN CONJUNCTION WITH ACP STATES THE WAYS AND MEANS OF TAPPING ADDITIONAL FINANCIAL RESOURCES FOR INDUSTRIAL DEVELOPMENT OF THE ACP STATES .

3 . THE COMPLEXITY AND THE MANY FACETS OF THIS PROBLEM AND THE NECESSITY TO TAP AND FIND ADDITIONAL RESOURCES REQUIRE DETAILED STUDY THE ASSISTANCE OF THE EXPERTS .

4 . ACCORDINGLY THE COMMUNITY AND THE ACP STATES AGREE TO CARRY OUT A DETAILED JOINT ANALYSIS OF THE PROBLEM AND THE MEANS OF TAPPING ADDITIONAL RESOURCES TO BE COMPLETED IN THE SHORTEST POSSIBLE TIME , WHICH SHOULD NOT EXCEED A PERIOD OF NINE MONTHS AFTER THE SIGNING OF THE CONVENTION . THE REPORT OF THE STUDY SO MADE WILL BE SUBMITTED IMMEDIATELY TO THE COUNCIL OF MINISTERS THROUGH THE COMMITTEE OF AMBASSADORS FOR CONSIDERATION AND APPROPRIATE ACTION .