Home New York National Sports Calendar
Today’s news:

Banana war no more

The World Trade Organization (WTO) has ended an international trade dispute over bananas dating back two decades.

WTO head Pascal Lamy commenting on the agreement said, “this is a truly historic moment. After so many twists and turns, these complicated and politically contentious disputes can finally be out to bed. It has taken so long that quite a few people who worked on the cases, both in the Secretariat and in member governments, have retired long ago.”

But Caribbean banana-producing countries have not yet commented on the impact of the agreement that was reached following the European Union (EU) agreeing in December 2009 to gradually reduce the tariffs on Latin American bananas.

The December 2009 agreement involved the EU reducing its tariffs on imported bananas from eruo 176 (One Euro=US$1.27) per ton to euro 114 per ton within eight years.

Officials say that it is possible that a statement would be issued later outlining the region’s position, given Caribbean countries’ initial opposition to the accord.

Latin American banana exporters had long protested against EU tariffs designed to protect small growers in former European colonies in Africa and the Caribbean. They claimed that the EU import tariffs had favored imports from former European colonies.

The Latin American countries present at the signing were Brazil, Colombia, Costa Rica, Ecuador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Venezuela and Peru.

Pin It
Print this story Permalink

Reader Feedback

Enter your comment below

By submitting this comment, you agree to the following terms:

You agree that you, and not CaribbeanLifeNews.com or its affiliates, are fully responsible for the content that you post. You agree not to post any abusive, obscene, vulgar, slanderous, hateful, threatening or sexually-oriented material or any material that may violate applicable law; doing so may lead to the removal of your post and to your being permanently banned from posting to the site. You grant to CaribbeanLifeNews.com the royalty-free, irrevocable, perpetual and fully sublicensable license to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, perform and display such content in whole or in part world-wide and to incorporate it in other works in any form, media or technology now known or later developed.

Links