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Dispute on trade in bananas

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Thursday, 20 May 2010

Dispute on trade in bananas

The 3011th Council meeting on Foreign Affairs held in Brussels on 10 May 2010 adopted a decision on the signing and provisional application of the two following agreements on trade in bananas:
– a Geneva agreement on trade in bananas between the EU and the Latin American most favoured nations (MFN) banana suppliers (Brazil, Colombia, Costa Rica, Ecuador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Peru and Venezuela) and
– an agreement on trade in bananas between the European Union and the USA.
The Geneva agreement provides for tariff cuts on EU banana imports and allows the formal settlement of the pending disputes with the Latin American MFN banana suppliers. It also ensures that the EU final market access commitments for bananas in the next WTO multilateral market access negotiations for agricultural products do not exceed those provided for in the agreements concerning the tariff treatment of bananas. The agreement between the EU and the United States provides for the settlement of their banana dispute.

Source: Council of the European Union