ANNOUNCED AS TEMPORARYNo
Ending a twenty-year-long trade dispute over the imports of bananas into the EU from certain Latin American countries, the EU's schedule of commitments following to the so-called Geneva Agreement on Trade in Bananas has been certified by the director-general of the WTO and have become effective as of October 27, 2012, after a three-month period in which WTO members could raise objections to the EU's schedule of commitments (and none did).
The trade war on bananas dates back to 1992 and has seen many twists and turns (click here for a brief overview). What is new is that all other measures, including the Special Agricultural Safeguard (SSG), have been abolished and replaced by a tariff-only import regime, making imports more transparent and creating a level playing field for all banana exporters to the EU.
The agreed maximum tariff rates are:
If there is no agreement on a framework deal (or 'modalities') in the Doha Round agriculture negotiations by 31 December 2013, these annual tariff cuts for the remaining years can be delayed by up to two years.
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