Tuesday, December 15, 2009
World Trade Organization Director General Pascal Lamy today applauded the successful efforts of Latin American banana producing nations, the United States and the European Union to end their long running dispute over trade in bananas.
The banana issue is one of the longest running disputes in the post-WWII multilateral trading system. It has generated considerable debate and litigation among the widest range of the entire WTO membership. And it has resulted in multiple legal rulings by dispute panels, the Appellate Body, and special arbitrators. All this attention has focussed on the treatment the EC gives to the import of bananas from the African, Caribbean and Pacific (ACP) countries in preference to bananas from Latin America. Today, the EC announced the final, comprehensive agreement to settle this dispute.
Click here to read more. That link contains a timeline of significant events in this dispute, which started back in the early 1990's.