ACP group demands compensation
A deal to end Europe’s long-running trade war over taxes on banana imports might not come before World Trade Organisation talks in Switzerland next week.
African-Caribbean-Pacific (ACP) countries are still pressing the EU on how they will be compensated for losing their competitive advantage over Latin American producers.
ACP countries are said to have been offered up to 284 million dollars over four years to help them cope with the tariff reduction. But they are seeking more saying the cuts were too deep. Under the new arrangement Latin American bananas entering the EU will benefit from lower taxes.
The Latin American producers have long complained of being penalised by the tariff-free treatment of imports from mostly poor former European colonies in the ACP grouping.
Cuba prepares for military exercises
Cuba’s armed forces are preparing to begin three days of military exercises – the first since Fidel Castro was replaced as president by his brother Raul last year.
Almost a million people are expected to take part in the manoeuvres – the largest for five years.
State media said the aim was to strengthen Cuba’s preparation for aggression by the enemy.
Since he took office, President Barack Obama has taken some steps to ease tensions with Cuba but says he won’t lift the trade embargo until the island adopts democratic reforms.
