|
[ti:] |
|
[ar:] |
|
[al:] |
| [00:00.00] |
The European Union has initialed an agreement |
| [00:03.89] |
to end one of the world's longest-running trade disputes over bananas. |
| [00:07.31] |
The EU, the world's biggest importer of bananas, |
| [00:10.67] |
is to cut the duty it imposes on Latin American producers of the fruit, |
| [00:14.59] |
while bananas grows in former European colonies |
| [00:17.39] |
will gradually lose the preferential terms |
| [00:19.69] |
they've enjoyed. Andrew Walker reports. |
| [00:22.17] |
The deal signed in Geneva |
| [00:23.85] |
commits the European Union to gradually lowering the tariffs it imposes |
| [00:27.34] |
on bananas imported mainly from Latin America. |
| [00:30.01] |
The cut will be over a third by 2017. |
| [00:33.75] |
That will reduce the competitive advantage of a group of countries, |
| [00:37.60] |
mainly former colonies of EU states in Africa and Caribbean, |
| [00:41.27] |
which enjoyed tariff-free access. |
| [00:43.88] |
The EU plans to provide those countries with some compensation, |
| [00:47.43] |
in a shape of nearly 300,000 dollars in additional aid. |