There is the possibility of Colombia’s agricultural downfall after the Brexit takes effect. It is because the sector would have to bargain trade deals that they have had with the European countries over the last years. Crops profoundly affected are bananas, flowers, and coffee. The Colombia report estimates that the total merchandise exported to the UK is worth 284.1 million dollars. This figure amounts to five percent of all exports to the whole of the European nation.
Export Tariffs Expected to Rise
Over the years, bananas are considered the most sold products in the UK. It explains why banana farmers are much concerned about Brexit. In 2018, it amounted to a total of fifty-four million dollars which surpassed the previous year’s turnover. Currently, exporters are incurring a tariff of eighty-two euros for every ton of bananas that crosses the European region. Nevertheless, if the Brexit comes about, the traders would be obligated to pay a tariff of ninety-nine pounds per ton.
There is Hope in the Banana Sector
The leaders have seemingly clarified the apprehension that the tariff will rise. Towards the end of last week, Emerson Aguirre, Banana Association of Colombia’s regional director, was appointed as the new head of the union. The current chair of the sector acknowledged that he had received the appointment news from the National Government. President Ivan Duque proved that Colombia already has an evaluation put in place in the event Brexit takes place. It is an additional special agreement with the UK, known as the bridge mechanism. The deal aims to uphold the same tariff that the nation has with the European Union. It means that the tax will not rise from eighty-two euros which gives the concerned producers peace of mind. Authorities have pursued the measure for several months. By the year 2018, the sector experienced a rise in the number of banana projects for the UK.