C’wealth slams EU for junking sugar trade deal

KAMPALA: The Commonwealth condemned the European Union (EU) last Sunday for scrapping a preferential trade deal with sugar-producing African, Caribbean and Pacific (ACP) countries, Reuters reports.
The EU voted last September to axe the so-called “sugar protocol”, under which 18 ACP countries receive privileged duty-free access at subsidised prices to the EU market.
“The Commonwealth ... considered the EC’s unilateral denunciation of the sugar protocol as very regrettable,” the club of mostly former British colonies said in a statement at the end of a three-day summit.
Europe initially slashed its sugar subsidies by 36%, in response to a World Trade Organisation ruling that they were illegal, but then scrapped them completely.
Europe has pledged millions of euros to help the ACP countries adapt to the changes.
The EU was offering to continue providing duty-free, quota-free access to its markets for exports by about 80 ACP nations, but only if they scale back import tariffs against each other and Europe – a condition they say will ruin local industry. –PNS