End Of ‘Banana Wars’ Brings Hope For Doha |
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December 15, 2009
The longest-running trade dispute of the modern era came to a close last night when parties from Europe, Latin America, the US, the Caribbean and Africa initialed a treaty in Geneva to end the so-called “banana wars”.
The longest-running trade dispute of the modern era came to a close last night when parties from Europe, Latin America, the US, the Caribbean and Africa initialed a treaty in Geneva to end the so-called “banana wars”.
The dispute pre-dated the establishment of the World Trade Organisation in 1995, outlasted a succession of trade commissioners and diplomats, and sustained the careers of a cadre of lawyers and lobbyists.
Its settlement was hailed on Tuesday as an endorsement of the multilateral trade system and as cause for hope that other, seemingly intractable trade negotiations such as the Doha round, could eventually be brought to fruition.
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