EU banana setback

The European Commission has accepted yesterdays’ ruling by the World Trade Organisation (WTO) against the European Union in its long-running banana war with the United States and Latin American producers.



The WTO rejected Europe\'s appeal against the organisation\'s condemnation of the EU\'s banana policies.



The ruling by the WTO\'s appeal body upheld an earlier decision that the European Union\'s banana import regime was inconsistent with global trade rules.



Europe\'s duty-free tariff quota reserved for African Caribbean and Pacific countries was also a matter of concern.



The EU said the Doha round of trade talks would be the right forum to find a resolution.



The union said its ready to continue negotiations on banana deal with all suppliers in an effort to settle the banana dispute.