European banana agreement dies with Doha
"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.
Tuesday, July 29, 2008
Several officials confirmed that an agreement between the European Union and Latin American countries that export bananas that raised hopes for lower tariffs for their product expired with the collapse of WTO talks.
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.
The Doha Round has left the banana producing countries of Latin America with bad aftertaste, after the fading away of what was supposed to be a clear victory for their foreign trade.
The eleven Latin American countries involved signed the agreement ending twenty years of banana trade disputes with the European countries.
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