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Whereas the European Union is bound by the undertakings it made to the ACP countries under the Lomé Convention, and more particularly Protocol 5 thereof, which seeks to guarantee maintenance for the ACP States of their advantages on the European market, access to that market in conditions that may not be less favourable than those that they have previously enjoyed and improvement of production and marketing conditions for ACP bananas;

(2) Whereas the common organisation of the market in bananas established by Regulation (EEC) No 404/93 () set the framework for continuing, on the Community market, the advantages enjoyed in the past by traditional ACP suppliers;

(3) Whereas, in particular, the trade arrangements with third countries established by Title IV of the said Regulation were designed to allow bananas produced by the ACP States, which are traditional suppliers to the Community, to be disposed of on the Community market providing an adequate income for the producers, in accordance with the Community's commitment set out above;

(4) Whereas these trade arrangements have been amended by Regulation (EC) No 1637/98; (5)

Whereas these trade modifications have substantially altered the market conditions for traditional ACP suppliers and might, in particular, harm the most disadvantaged suppliers;

(6) Whereas particular efforts will thus be needed by traditional ACP suppliers to adapt to these new market conditions in order to maintain a presence on the Community market and to allow for the continuing viability of traditional ACP supplies;

(7) Whereas technical and financial assistance, additional to that provided for in the fourth ACP-EC Convention of Lomé, should therefore be granted to traditional ACP suppliers to enable them to adapt to new market conditions and in particular to improve competitiveness; whereas at the same time environment-friendly production and marketing methods which also respect social standards should be encouraged;

(8) Whereas, as this assistance should relate to the special efforts required as a consequence of the new market conditions, objective criteria should be fixed to determine the extent of such assistance; (9)

Whereas, in order to ensure the appropriateness of such assistance with regard to the objectives pursued, this assistance should be temporary and should be gradually and smoothly phased out;

(10) Whereas, to facilitate implementation of these provisions, a procedure involving close cooperation between the Member States and the Commission should be established, HAS ADOPTED THIS REGULATION: