New trade agreement between EU and Mexico lowers tariffs on bananas

A new trade agreement between the EU and Mexico will cover more than 85% of the sectors which were not covered by the previous agreement, including agriculture. The only products excluded relate to the sugar sector. Mexico’s banana exports will obtain the preferential tariff of €75/ton. For fruits not yet liberalised, such as apples, full liberalisation will be achieved in ten years, with tinned peaches to be liberalised within 7 years.

The section on Agriculture contains a declaratory article on cooperation in international fora on matters related to trade in agriculture. It particularly regards exports restrictions which may affect the availability of supplies in the international markets. There is a second article on Export Competition reaffirming all Parties’ commitment to the WTO Nairobi Declaration, eliminating all export subsidies and those measures not allowed by the WTO agreements. It also establishes a mechanism of transparency and exchange of information.