India | UK | US

EU stoic after WTO rules against appeal on bananas - again

Geneva - The European Union accepted the decision by the World Trade Organization's appeals body to once again rule against EU banana import rules, an EU official said Thursday, adding that full compliance however would likely only happen along with ...
Posted : Thu, 27 Nov 2008 14:03:58 GMT
By : DPA
Category : Business
News Alerts by Email ( click here )
Business News | Home
Geneva - The European Union accepted the decision by the World Trade Organization's appeals body to once again rule against EU banana import rules, an EU official said Thursday, adding that full compliance however would likely only happen along with the finalization of the Doha Round of trade talks. "If the ministers meet next month, we can solve the bananas," said the official, requesting anonymity.

That amplified a statement made the night before by an EU trade spokesman following the WTO decision.

"The EU considers the Doha Round to be the right forum to find a resolution," said Peter Power.

The WTO ruling given on Wednesday upheld an earlier decision by a lower body which found that the EU's duty-free tariff quota for African, Caribbean and Pacific (APC) countries did not comply with international trade rules.

The complaint against the Europeans was brought by Ecuador which, like other Latin American countries, doesn't enjoy the special privileges of the former colonies in APC, and pays taxes on its banana exports.

Ecuador is one of the leading banana exporters in the world.

The United States also filed a complaint. Though it does not directly export bananas to the EU, three US-based multinationals companies, Chiquita, Del Monte and Dole, have plantations in Central and South America.

US Trade Representative Susan Schwab called for Europe to "implement a tariff-only regime" for the bananas.

A ministerial meetingin Geneva next month to continue the Doha Round, which started in 2001, still has not been called, and it will depend on whether countries can work out their differences enough to bring together the top-level representatives and reach a deal.

Meanwhile, the EU would continue to negotiate a deal on bananas with the Latin Americans "and settle it once and for all," said an official.

It remained unclear what sanctions might be used in the event that the EU did not comply with the ruling.

Pascal Lamy, the head of the WTO, has been pushing for a ministerial meeting.

Analysts have said a deal on trade would lead to capital injections into trade markets which would help alleviate some of the problems the global economy is currently facing, and prevent protectionism in a time of crisis.

Copyright DPA

Share/Save/Bookmark

Article : EU stoic after WTO rules against appeal on bananas - again
Print this article
Email this article

Stay Updated
News gadget on your Google homepage
Subscribe to a news feed in Google Reader


Related News

Czech premier proposes central bank chief for EU executive
Prague - Czech Prime Minister Jan Fischer proposed Zdenek Tuma, the governor of the Czech National Bank, for a post in the European Commission, the premier's office said Sunday. Fischer has said that he would select the Czech Republic's candidate for...

Myanmar expects to export 1 million tons of rice this fiscal year
Yangon - Myanmar exported 670,000 tons of rice in the fiscal year that ended March 31 despite the devastation wrought by Cyclone Nargis and expected to export up to 1 million tons this fiscal year, media reports said Sunday. The export volume of ric...

Indonesian maids outnumber Filipinos in Hong Kong for first time
Hong Kong - Filipino maids in Hong Kong are outnumbered for the first time by domestic helpers from Indonesia, according to government figures published Sunday. The number of Indonesian maids in the wealthy former British colony is now more than 130,...

Economic woes cost German employment agency billions
Nuremberg - The German employment agency will need to plug a funding hole of 16 billion euros (24 billion dollars) in 2010, an agency spokeswoman said on Saturday, confirming a media report. Job losses resulting from the economic crisis meant the agen...

Brown proposes financial market tax at G20 meeting - 2nd Update
St Andrews, Scotland - British Prime Minister Gordon Brown urged finance ministers from the world's 20 leading economies meeting Saturday to consider imposing a tax on financial transactions to help head off future global economic crises. It cannot ...

Head of GM Europe may switch to India's Tata: media reports
Frankfurt, Germany - The European chief of General Motors (GM), Carl-Peter Forster, may switch to Indian car manufacturer Tata, German media reported Saturday. Forster, 55, is quitting GM after strongly criticizing the Detroit-based car giant's surpr...

Economic recovery, climate change tops G20 meeting
St Andrews, Scotland - Finance ministers from the world's 20 leading economies are meeting in the Scottish golf resort of St Andrews Saturday to review the state of the global economy amid signs of a tentative recovery from its biggest slump in a gen...

Have your Say
Name
Email
Subject
Your Comment

Enter Verification code
 
  

 

 

More Business News click here
Follow The Earth Times
Subscribe to RSS Follow Earth Times on TwitterNews by email
Share/Save/Bookmark

 
 



 
Subscribe to free Earthtimes
News Alerts by Email Click here
For RSS Feeds Click here
or Create your own RSS

Add to Google Toolbar
Breaking News
Press Releases

 


The Earth Times
News Category

© 2009 www.earthtimes.org, The Earth Times, All Rights Reserved | Privacy Policy
Earth Times accept no responsibility or liability either directly or indirectly for views or opinions expressed in articles or comments.