Agreement to Lower Banana Tariffs Approved
The Trade Commission of the European Parliament approved the agreement reached by the EU and Latin American countries to lower tariffs on banana imports.
Tuesday, January 18, 2011
The agreement was signed by the EU, U.S., Ecuador, Colombia, Costa Rica, Panama, Guatemala, Honduras, Mexico, Nicaragua, Brazil, Peru and Venezuela, in late 2009.
The European Parliament voted to lower tariffs on Latin American bananas by 35% for the next six years.
"The banana agreement isn't going anywhere," said an official after the collapse of talks at the World Trade Organization (WTO) aimed at reviving the Doha Round.
Europe could soon reduce its tariff on bananas by 28 euros per ton. Under an agreement signed last weekend, its import duties would fall to 114 euros per ton from the current 176 euros by 2016.
Yesterday the EU the maintained its position of not recognizing the banana agreement to reduce tariffs that was reached on July 27.
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