Costa Rica: Satisfied with the trade agreement between Europe and Latin America

The Banana Corporation of Costa Rica welcomed the trade agreement on banana tariffs, signed on Thursday between the European Union and Latin America.

Jorge Sauma, executive director of that organization, said in statements to the press that the arrangement is very satisfying because it gives legal certainty to producing countries.

He said it would increase banana sales to Europe and explained the pact stipulates that the European tariff on bananas will be reduced from the current 136 Euro (174 dollars) per ton to 114 Euro in 2017.

Since 1991, Latin American countries have battled the complex European import
banana system that favored fruit from nations of Africa, Caribbean and Pacific (ACP).

For the Latin American region Brazil, Colombia, Costa Rica, Ecuador, Guatemala, Honduras, Mexico, Nicaragua, Panama and Venezuela signed the agreement, while Peru only participated in negotiations.

Costa Rica is the third largest exporter of bananas and has an annual production of over 100 million cases of 18.14 kilograms. This business generates 70,000 direct jobs and 100,000 indirect jobs.

Source: Prensa

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