This proposal come about as part of the Geneva Agreement on Trade in Bananas concluded with Latin American countries and the US in December 2009 which settles 15 years of disputes about trade in bananas, and included a cut in EU import tariffs on Latin American bananas. The measures in the agreement freeing up world trade in bananas will undoubtedly be good news for consumers, and today’s measures will help to make sure that banana exporters from Belize, Cameroon, Côte d’Ivoire, Dominica, Dominican Republic, Ghana, Jamaica, Saint Lucia, Saint Vincent and the Grenadines and Suriname can adjust this new trading environment.
European Commissioner for Development Andris Piebalgs stated: "These measures will help ACP countries to adapt to the new realities of the banana trade regime. The Commission has committed itself to fully stand by ACP countries to foster their efficient integration into the world economy while respecting international trade rules. This package delivers on that commitment."
European Commissioner for Trade Karel De Gucht said: "The Geneva Agreement on bananas achieved the best possible outcome for all involved. It guarantees ACP producers’ preferential access to the EU market. It settles long-running trade disputes, bringing stability to the banana industry, which potential investors look for. And today the Commission has fulfilled its pledge to propose substantial financial aid to help ACP banana-exporting countries adjust."
Source: ec.europa.eu