EU, Latin America close to banana deal at WTO: sources

0 Comments | AFP, July, 2008

GENEVA (AFP) — European and Latin American negotiators are close to a deal that would end a quarter of a century of "banana wars" as part of mammoth trade talks here, sources close to the negotiations said Sunday.

"The two sides are busy putting the final touches to an agreement," a source told AFP.

"If they sign, it would be an historic accord ending a dispute that has lasted for 25 years."

Latin American banana producers have over the years successfully challenged the EU's banana import regime before the World Trade Organization on the grounds that it discriminates against them in favour of African, Caribbean and Pacific (ACP) countries -- mainly former colonies of European powers.

The two sides agreed late Saturday to lower EU import tariffs to...