‘Banana wars’ deal between EU and Latin America close to fruition

Article reports that European and Latin American trade officials are close November 2009 to a deal over bananas that would end the longest-running dispute in the history of the World Trade Organisation and could lead to lower prices for consumers.

Meeting at the WTO in Geneva on the 15 December 2009, ambassadors from the EU and Latin American countries agreed to end the 15-year dispute over EU banana imports.

In the deal, seen as a boost for the Doha Round of world trade talks, the EU will gradually cut its import tariff on bananas from Latin America from €176 per tonne to €114. In response, the US has agreed to settle its related dispute with the EU. The EU has also offered to mobilise up to €200 million for the main African and Caribbean banana-exporting countries to help them adjust to stiffer competition from Latin America.

ESO: Background information: Bananas: ACP countries “sacrificed on the altar of liberalisation” says ACP chair, bananas group http://www.europeansources.info/record/bananas-acp-countries-sacrificed-on-the-altar-of-liberalisation-says-acp-chair-bananas-group/

European Commission: DG Agriculture and Rural Development: Bananas http://ec.europa.eu/agriculture/bananas/index_en.htm

BBC News, 15.12.09: EU cuts import tariffs in a bid to end 'banana wars' http://news.bbc.co.uk/1/hi/business/8391752.stm

Website: Caribbean Banana Exporters Association http://www.cbea.org/

European Commission: Press Release: IP/09/1938: Ending the longest trade dispute in history: EU initials deal on bananas with Latin American countries http://europa.eu/rapid/pressReleasesAction.do?reference=IP/09/1938&format=HTML&aged=0&language=EN&guiLanguage=en

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