EU – Ecuador agreement signals end of final act in banana imports drama
The EU will introduce a licensing system based on historical trade patterns from 1 July 2001 at which time the US will suspend trade sanctions. The EU will adjust quota quantities in order to expand market access for Latin American countries whilst securing market share for a specific quantity of bananas from ACP countries. Once these changes receive WTO approval, US sanctions will be lifted permanently. The new tariff-based system for managing banana imports to the EU is scheduled for introduction on 1 January 2006.
The EU – Ecuador deal does not affect the above dates agreed in the EU – US deal.