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ACP seeks EU clarification on outstanding BAM

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Tuesday, 27 November 2012

ACP seeks EU clarification on outstanding BAM

African Caribbean and Pacific (ACP) countries are seeking clarification from the European Union (EU) regarding outstanding pledges to support their banana sector.
At the start of the 24th ACP-EU Joint Parliamentary Assembly here, Suriname’s representative Rabin Parmessar, questioned alleged reports that the European Parliament has decided to reduce the amount of pledged financial support for the industry. “We were informed that the European Parliament has decided to reduce the amount of the accompanying measures on bananas and we would like to know if that is correct”, said Parmessar.
He reminded his ACP and EU-colleagues that in 2010 the European Union decided to establish the supporting programme Banana Accompanying Measures (BAM) in order to help the ACP member states to cope with the new EU banana regime. The assistance programme was supposed to be set up and implemented in the period 2010-2013. “We wish to urge the EU to disburse all the resources announced and to guarantee full disbursement of the allocated resources and facilitate their optimum use”, Parmessar told the conference.
The Banana Accompanying Measures were designed to help those ACP countries adjust to the changes arising after December 2009, when the EU agreed to cut the EU's banana tariff for Latin American countries - its so-called Most Favoured Nation or MFN tariff - (which lead to a decrease in the preferential margin which ACP countries enjoyed) as a response to more than 15 years of legal disputes in the World Trade Organisation (WTO) over preferential trade regime with the ACP.  But in the last period the ACP countries have complained that the EURO 190 million for 10 countries over a four year period, have not been forthcoming.

Source: Carribean 360