• Costa Rica Coffee Guide

European Union Requests Second Banana Ruling

September 30, 2005

THE European Union this week requested a second round of World Trade Organization (WTO) arbitration on its revised tariff of 187 euros ($230) per ton of bananas imported from Latin America. The WTO earlier this year rejected the proposed E.U. tariff of 230 ($283) euros per metric ton, saying it would deny Latin American producers fair access to the European market.The leaders of banana-producing nations in Costa Rica have protested this revised tariff, saying it is still too high (TT, Sept. 16).The European Union announced last year that it would raise tariffs on Latin American bananas beginning Jan. 1, 2006 from 75 euros (approximately $92) to 230 euros ($276) as a way of phasing out its previous tariff system based on quotas. The move would also favor banana producers from African, Caribbean and Pacific (ACP) countries.The move angered Latin American producers, and leaders and representatives from Costa Rica, Panama, Nicaragua, Honduras, Guatemala, Colombia and Ecuador met in here in July to discuss a common front for facing the proposed tariffs, which many leaders have said would cost their economies thousands of jobs (TT, July 15).In Costa Rica, which produces more bananas for export than any other Latin American country except Ecuador, more than 40,000 jobs depend directly on the industry and 8,000 jobs could be eliminated if the tariff increase goes into effect, according to statistics from the Costa Rican National Banana Corporation (CORBANA).Costa Rican Trade Minister Manuel González has said that the Latin American countries will take the issue to the WTO conference to be held in Hong Kong in December.

You may be interested

Costa Rica’s exports grow to record level despite pandemic
Business
3514 views
Business
3514 views

Costa Rica’s exports grow to record level despite pandemic

AFP - January 22, 2021

Costa Rica's exports grew 2% in 2020 compared to the previous year, despite the limitations imposed by the Covid-19 pandemic,…

United States to mandate isolation after return from international travel
Costa Rica
2670 views
Costa Rica
2670 views

United States to mandate isolation after return from international travel

Alejandro Zúñiga - January 21, 2021

New U.S. President Joe Biden has signed an executive order requiring international travelers to self-quarantine upon returning to the country.…

Lottery Fever Soars Across the Globe in Hopes to Win $1 Billion Jackpot in Mega Millions, Try Your Luck from Costa Rica
Sponsored content
27 views
Sponsored content
27 views

Lottery Fever Soars Across the Globe in Hopes to Win $1 Billion Jackpot in Mega Millions, Try Your Luck from Costa Rica

The Lotter - January 21, 2021

The Mega Millions jackpot could soon set a new record as online lottery play drives up ticket sales. Residents of…