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Corn+Soybean Digest

EU TO OPEN MARKETS

The European Union (EU) and U.S. Trade Representative agreed Wednesday, Nov. 30, 2005, to grant more market access for U.S. products to the EU.

The 10 new countries that joined the EU in May 2004, including Poland and Hungary, adopted the EU's tariffs and quotas, which resulted in a loss of market access for many American agricultural and industrial products.

According to the new agreement, which will come into force before July 1, 2006, after the EU's member states have signed off, a variety of new and extended quotas will allow more U.S. beef into Europe and will open a tariff rate quota of 242,074 metric tons of corn and 10,000 tons of corn gluten.

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