The European Union and Latin American countries have reached an agreement to end a 16-year dispute over EU banana imports.Under a new deal, the EU will cut its import tariff on bananas from Latin America from 176 euros per tonne to 114 euros by 2017.
Latin American countries in return will not demand further tariff cuts, and will also drop several legal cases pending against the EU.
But, in an expanded offer, the EU also said it would provide up to 200 million euros in aid for banana growers in African, Caribbean and Pacific countries, to help them adjust their working practices to the cheaper deals emanating from Latin America.
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