CARICOM ministers on banana tariff reduction

CARICOM trade ministers have expressed grave concern about the possible reduction of the tariff on bananas for the European Union’s Most-Favoured Nation.



In January 2006, the countries were also granted quota-free access to the EU markets.



However, they are now calling for substantial reductions in the EU\'s tariff.



Regional trade ministers said this would be to the detriment of Caribbean banana exporters.



The CARICOM Secretariat said a group of countries with the EU’s most favoured nation status, have recorded a 20 percent increase in exports to the EU.



The CARICOM trade ministers also said the Caribbean has not been included in the discussions between the EU and the Most Favoured Nations.