The paper of F.Putortì gives, in a single text, a detailed overlook of the entire evolution of the european Development Cooperation policy since its establishment to nowadays. A legal and economic critical insight leads the reader from the dawn of the european development cooperation, through the so-called "era of Lomé", towards the adoption of the new Convention. In the end, a deep analysis of the Cotonou Convention provides the framework of reference of the renewed "special relationship" between E.U. and the ACP area in the new Millennium.