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. adds, "Under the compromise, the tariffs on bananas from Latin America were reduced from 176 Euros per ton, to 148 Euros and then lower to 114 Euros per ton within approximately eight years."

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EU Congress Lowers Banana Tariffs

February 2011

The European Parliament voted to lower tariffs on Latin American bananas by 35% for the next six years.

Under the agreement, the tariffs on banana imports from Latin America will decrease from the current 176 Euros to 114 Euros per ton in 2017.

"Once it is approved by the WTO later this year, the agreement will mark a victory for the world´s largest banana producers, a battle fought for almost 20 years in order to access the EU market inexpensively, the largest global fruit consumer," reported the article by Reuters.

European Union resisting pressure to recognized banana agreement

September 2008

Yesterday the EU the maintained its position of not recognizing the banana agreement to reduce tariffs that was reached on July 27.

Costa Rica did not achieve its objective of making the EU honor the agreement reached in the early morning hours of July 27 in Geneva, Switzerland, in the backdrop of the commercial negotiations of the World Trade Organization (WTO).

European banana agreement dies with Doha

July 2008

"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.

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.

EU and Latin Americans agree on banana tariffs

July 2008

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 agreement calls for an initial reduction of 28 euros.
Under the present system, Europe has a preferential agreement for former colonies of its member nations, but its complex tariff-quota system has come under fire by the World Trade Organization.

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