The WTO’s decision is not only a setback for the EU but also to ACP (Africa-Caribbean-Pacific) countries that benefit most from the EU banana tariff system. As one member of the Caribbean Banana Exporters' Association told the Jamaica Gleaner in February:
"We don't want the tariffs changed in 2008 at all and then going forward we are saying we need a period of 10 years where whatever is the final tariff you want to get to, it takes 10 years to get there," [Dr. Marshall Hall] said.
While banana exports from Latin America to the E.U. were charged at $225/ton, exports from ACP countries have been mostly duty free.
Image- MWC News
Sources- International Herald Tribune, Forbes, BBC News, Jamaica Gleaner
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