EU, Latin "banana wars" in focus at WTO talks

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Reuters
Wednesday July 16 2008

By Jeremy Smith

BRUSSELS, July 16 (Reuters) - Latin America is gearing up to press Europe for immediate cuts in import duties on bananas, with officials hoping the long-running dispute will not sour prospects for a breakthrough in world trade talks next week.

World Trade Organisation Director-General Pascal Lamy proposed last week the EU should make annual cuts to its tariff of 176 euros ($280) per tonne of bananas to reach 116 euros by 2015. The steepest cuts would apply in the earlier years.

In return, Latin American governments would sign a "peace clause", dropping lawsuits against the European Union that they filed over its single-rate tariff which they say is too high and discriminatory, and also agreeing not to launch more challenges ...

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