Latin America Accepts EU's Proposal on Banana Tariff

The proposal accepted by Latin American banana producers lowers the tariff from 176 to 114 euros per ton.

Wednesday, November 18, 2009

It will be gradually lowered until 2017.

"The first phase will last three years, with tariffs reduced to 136 euros. In the following two years there won't be reductions, reaching 114 after the next three years, in 2017...", reported

More on this topic

Agreement Puts an End to "Banana War"

November 2012

The eleven Latin American countries involved signed the agreement ending twenty years of banana trade disputes with the European countries.

The so-called "banana war" between the European Union (EU) and several Latin American countries-including six Central American countries- officially came to an end on Thursday, with the signing of a trade agreement promoted by the World Trade Organization (WTO).

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.

Banana Dispute Comes to an End

December 2009

Latin American banana growing countries landed a tariff agreement with the European Union.

Under the terms of the new agreement, the tariff will be immediately reduced from 176 euros per ton to 148 euros. In the next 10 years it must be gradually reduced to 114 euros.

"It is not yet know what compensation will be paid by the European Union to Asian, Caribbean and Pacific countries, who had requested $250 million for losing their preferences", reported EPA.

Europe accepts cuts in tariffs on Latin American banana imports

July 2008

The European Commission announced that it is accepting the World Trade Organization (WTO) proposal to lower the tariff on banana imports from Latin America.

The scheme was proposed by WTO director-general Pascal Lamy in order to resolve a dispute that involves the European Union, Latin America and the African, Caribbean and Pacific (ACP) countries.

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