USA: Dole announces support for European Union action to comply with WTO banana rulings
Dole Food Company Inc. (NYSE:DOL) Tuesday announced its support for the action taken today by the European Union (EU) to reform its banana import regime to comply with World Trade Organization (WTO) rules. Today, the Agricultural Council of the European Union voted to adopt a regime that calls for a five-year continuation of import quotas and a change to a tariff-only regime on Jan. 1, 2006. Rights to import bananas during this transition period will be distributed on a ``first-come-first-served'' basis. The EU Commission will now proceed to enact detailed regulations and implement the new regime by April 1, 2001, in accordance with its mandate.
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