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WTO Arbitration Sought Over EU Banana Regime
BRUSSELS - Apr 1/05 - SNS -- Officials in the European Union are not happy with a decision by banana producing nations in Latin America to seek WTO arbitration on the EU's proposed new tariff for bananas.
The request was made by Ecuador, Colombia, Costa Rica, Panama, Honduras and Guatemala. They want the WTO to arbitrate the level of duty proposed by the EU in the new tariff-only system for the EU's import regime for bananas.
"While the EU regrets the decision of these WTO Members to request arbitration," officials said in a press statement, "it will defend its proposal before the arbitrator and remains open for constructive engagement with interested WTO Members."
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