Banana Tariff Deal Expected Soon in WTO
The WTO expects to close a long-running dispute over banana tariffs in the next two weeks, according to ICTSD.
The EU and Latin American counties have faced off for years over the EU import regime, which includes a €176 per tonne tariff on bananas from most-favoured nation (MFN) suppliers, alongside a 775,000 tonne duty-free import quota reserved for African, Caribbean, and Pacific (ACP) states, many of which are former European colonies.
ICTSD says that:
Photo by Knut Burmeister
“The agreement now on the table would mandate that bananas receive ’stand-alone’ treatment and be excluded from the Tropical Products list — a list of products that will receive the ‘fullest liberalsation,’ settle all pending disputes with Latin American exporters, and provide a ‘credit clause’ to mark the lowered MFN tariff as the EU’s final market access commitment in the Doha Round.”
Read more about the banana deal at “Banana Deal Expected Next Week with Promise of Aid for ACP.”
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