Yes, We Have No Bananas

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A special dispensation by the World Trade Organization (WTO) that allowed the Dominican Republic to become the number one exporter of bananas to the European Union is due to expire at the end of this year and unless the African, Caribbean and Pacific (ACP) nations sign an Economic Partnership with the EU by December 31 the nations could see tariffs placed on approximately US$1 billion of currently exempt products.

Delays in the signing of the agreement are due to the African and Pacific nations being behind in negotiations. For this reason the Trade Negotiation Commission is not only encouraging the Dominican Republic to make the most of April's round of negotiations but putting forward the suggestion that the Caribbean nations sign an agreement separate from the African and Pacific nations. The EU prefers to negotiate with the ACP nations collectively.

Read 373 times Last modified on Thursday, 22 March 2007 22:07

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