World Trade Organization sides with Latin America
Tuesday, December 23, 2008 4:50No Comments
The WTO sided with countries exporting bananas to Europe, stating that the customs procedure imposed upon the fruit was illegal. This was following an objection to the tariff rate imposed, currently set at 176 Euros per ton. The WTO says this sort of practice goes against and violates the rules of international trade.
This has come as an ongoing dispute between Latin American countries and the EU, the EU has issued a statement indicating their desire to settle this as soon as possible. The Panamanian Government has welcomed the ruling, with the Trade Minister acknowledging the need for the stability and sustainability of Panama’s and the regions farmers and fruit producers.
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