Negotiations to boost banana exports

 

 

The Ministry of Trade and Industry has begun negotiations with South Korea, Japan and Australia to gain better access to their markets this year.

 

 

 

For South Korea and Japan, tariffs remain despite existing free trade agreements. Reciprocal rates are expected to be between 0 and 5%, however, Korea applies a ban of 25 to 30% to bananas from the Philippines. Japan applies seasonal rates, 8% when the fruits are not in season in the country and 18% during the season.