Caribbean in trouble
Caribbean states have been hit hard by a recent World Trade Organisation ruling that pronounced as illegal the new us $280 per tonne eu tariff on bananas imported from the Most Favoured Nations (mfn). The 25-nation African, Caribbean and Pacific group are pitted against mfn, comprising Brazil, Colombia, Costa Rica, Ecuador, Guatemala, Honduras, Nicaragua, Panama and Venezuela. The new tariff was to be imposed by January 1, 2006, in place of the current quota system. mfn said it would destroy their economies.
Grenada premier Keith Mitchell says the ruling will harm the banana industries of Dominica, Grenada, St. Lucia and St. Vincent and the Grenadines. "