Summary
"This would exacerbate the economic and social conditions, particularly at a time when the global financial and economic crisis is impacting these economies and which will have long-lasting deleterious effects," Caricom said, dismissing an EU offer of 110 million euros to cushion the effects of the rate cuts, arguing that it is way below estimates by producers of annual losses. Caricom did not say what the losses figure is estimated at.
Caricom has for years been trying to get the EU to maintain banana tariff rates as high as possible in Europe so as to help them compete with cheaper Latin American fruit. Latin producers want bananas to be zero rated, but producers in former European colonies in Africa, the Caribbean and the Pacific say this would mean the end of their lifeline industries.The Caribbean trade ministers wasted little time in the last week in criticizing the European Union for planning to drastically cut the tariff rate of fruit entering its market, saying the new prices will devastate the regional banana sector and ruin the lives of thousands of families.See the full content of this document
Extract
Trade Ministers Condemn Eu Banana Proposals
The Caribbean trade ministers wasted little time in the last week in criticizing the European Union for planning to drastically cut the tar...
See the full content of this document
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