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    EU Ends 16-Year Banana Trade Battle

     

     
     
    International Trade Forum - Issue 4/2009

    The European Union (EU) has ended one of the world's longest-running trade battles as it agreed to cut import tariffs on bananas grown in Latin America. The settlement, which is expected to be ratified in early 2010, ends a 16-year trade dispute over access to the EU's US$ 6.7 billion banana market, the world's largest. EU Trade Commission Karel De Gucht said that the EU's old colonies "will face challenges in adjusting to the new situation." The new fight, says Alistair Smith of Banana Link, a UK-based advocacy group, will be over labour and environmental conditions at banana plantations all over the world.