Final ruling on banana squabble

The European Union Council of Ministers has finalised two agreements that end the 16-year trade dispute between the EU and 12 Latin American countries.



The deals call for a reduction in EU banana import tariffs and a phasing out of the preferential treatment given to exporters from the African, Caribbean and Pacific (ACP) countries.



The Latin American nations, including Brazil and Ecuador, had complained that the EU unfairly favoured ACP banana exports.



The concerns had fuelled proceedings at the World Trade Organisation since the mid-1990s.



The European Parliament approved the agreements last month.