EU makes small concession on banana tariffs
Europe could make an intial reduction on its tariffs on bananas by 28 euros per ton, reducing it to 114 euros per ton by 2016. The concession was made by the head of the World Trade Organization Pascal Lamy, a Frenchman, as part of an effort to revive the moribund Doha Round of trade talks in Brussels last weekend.
Monday, July 28, 2008
Some hailed the concession as a major advance, but the most important banana exporters, the African, Caribbean and Pacific trade group (ACP) had evidently been looking for something better.
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.
"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.
Tensions rose at the ministerial meeting yesterday of the World Trade Organization (WTO), and the next few hours are expected to be decisive as to whether the Doha Round of trade talks will survive.
The European Commission announced that it is accepting the World Trade Organization (WTO) proposal to lower the tariff on banana imports from Latin America.
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