Loan Adviser

Panama says banana agreement will generate tangible benefits in a few months

Minister of Commerce and Industry of Panama, Roberto Henriquez, told Efe that “the culmination of these negotiations is a felizacontecimiento, which will translate into tangible benefits” to elsector banana exporting country in the coming months, an agreement in force vezentre .

The European Union and Latin American countries today signed debanano producing an agreement on tariff reductions EASA fruit, ending the so-called “banana war” that losh faced for more than 16.

The Minister highlighted the role played by the team negociadorpanameno, “whose proposals in Geneva acercarposiciones allowed hitherto found to facilitate the closure” ofa agreement.

The agreement means that within four months, and once the parties have made quetodas with ylegislativos internal administrative processes will reduce the existing tariff of 176 euros to 148 tonne eurospor, until a final tariff of 114euros in about eight years.

The EU also agrees to return pagadosdesde tariff heading date of the agreement until the date of signature.

heading is a prelude to the subsequent conclusion that seconcretara not earlier than four months in a location to be determined, unavez completed all legal and administrative procedures.

The agreement involving all countries latinoamericanosproveedores of bananas to the European Union, including Ecuador, Colombia, Costa Rica and Panama, which are the largest exporters to the EU deest fruit. EFE