Sunday, February 25, 2024

Logo Central America Link

European legislators provide safety net for bananas

Wednesday, November 7, 2012

Measures to safeguard the interests of vulnerable banana producers in forthcoming European Union trade deals with Central America, Peru and Colombia were approved by the union's International Trade Committee on Tuesday.

The measures -- endorsed by a large majority in committee following an informal agreement with Council -- establish a general safety-net for all EU producers to help them adapt to liberalization of trade foreseen by the largely trade-focused Association Agreement with Central America and the trade agreement with Peru and Colombia.

These safeguards, which still have to be endorsed by Parliament as a whole, would allow the union to increase customs duties, or refuse to reduce them, in the event of a surge in imports large enough to harm the interests of producers.

Source: European Parliament News