This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-20263308
The article has changed 3 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Banana war ends after 20 years | Banana war ends after 20 years |
| (about 9 hours later) | |
| An international trade dispute over bananas dating back two decades has finally been settled. | An international trade dispute over bananas dating back two decades has finally been settled. |
| The European Union and 10 Latin American countries signed an agreement to formally end eight separate World Trade Organization (WTO) cases. | |
| The head of the WTO, Pascal Lamy, called it a truly historic moment. | |
| The formal agreement followed the EU agreeing in December 2009 to gradually reduce the tariffs on Latin American bananas. | The formal agreement followed the EU agreeing in December 2009 to gradually reduce the tariffs on Latin American bananas. |
| Latin American banana exporters had long protested against EU tariffs designed to protect small growers in former European colonies in Africa and the Caribbean. | Latin American banana exporters had long protested against EU tariffs designed to protect small growers in former European colonies in Africa and the Caribbean. |
| "After so many twists and turns, these complicated and politically contentious disputes can finally be put to bed," Mr Lamy said. | "After so many twists and turns, these complicated and politically contentious disputes can finally be put to bed," Mr Lamy said. |
| "It has taken so long that quite a few people who worked on the cases, both in the secretariat and in member governments have retired long ago." | "It has taken so long that quite a few people who worked on the cases, both in the secretariat and in member governments have retired long ago." |
| The December 2009 agreement involved the EU reducing its tariffs on imported bananas from 176 euros ($224; £140) per tonne to 114 euros per tonne within eight years. | The December 2009 agreement involved the EU reducing its tariffs on imported bananas from 176 euros ($224; £140) per tonne to 114 euros per tonne within eight years. |