More Trade News in Brief Week 8 (16 – 22 February 2015)

* UNWTO World Tourism Barometer 2014

International tourist arrivals reached 1,138 million in 2014, a 4.7% increase over the previous year, according to the latest UNWTO World Tourism Barometer. For 2015, UNWTO forecasts international tourism to grow by 3% to 4%, further contributing to the global economic recovery.

Useful links:

UNWTO World Tourism Barometer
Infographic:
International Tourist Arrivals 2014 (per region)
Infographic:
International Tourist Arrivals 2014 (growth per region)
Infographic:
Why Tourism Matters
UNWTO Tourism Highlights, 2014 Edition

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* UNIDO – Global Manufacturing Growth Stayed Low in 2014

According to the last UNIDO report, world manufacturing production has been trapped in low growth for a prolonged period and there was no breakthrough in 2014.

For further information on the report, please click here.

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* World Oil Outlook

OPEC’s World Oil Outlook (WOO) is a means to highlight and further the understanding of the many possible future challenges and opportunities that lie ahead for the oil industry.

Check here the 2014 Edition.

 

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News from UNCTAD

* Global Investment Trends in 2014 and Prospects for 2015

Global foreign direct investment (FDI) inflows declined by 8% in 2014. A solid FDI rise remains distant, reports the latest UNCTAD Global Investment Trends.

 Download: Global Investment Trends Monitor No. 18.

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* UNCTAD and WTO launch partnership on Integrated Trade Database

UNCTAD and the WTO agreed to cooperate in assisting the WTO members in implementing notification requirements for the WTO Integrated Data Base (IDB).

UNCTAD Automated System for Customs Data (ASYCUDA).

An integrated customs management system for international trade and transport operations in a modern automated environment.

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More Trade News in Brief Week 3 (12 – 18 January 2015)

* World Employment and Social Outlook – Trends 2015

The new ILO report includes a forecast of global unemployment levels and explains the factors behind this trend, including continuing inequality and falling wage shares.

ILO -  World Employment and Social Outlook – Trends 2015Download the report from here.

Read more here.

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* IMF Downgrades Global Growth Forecast

According to its World Economic Outlook (WEO) update , the IMF lowered growth expectations for this year and the next for most countries due to slowdown in investment, and urged governments and central banks to pursue economic stimulation policies and structural reforms to boost growth.

Download Full-Text PDF: English

IMF - World Economic Outlook (WEO)

 

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* UNCTAD – Latest developments in national and international investment policies

UNCTAD’s latest Investment Policy Monitor shown that the vast majority of new investment policy measures were aimed at creating more favourable investment conditions.

Download: Investment Policy Monitor No. 13

Quick link: Investment Policy Monitor (Series)

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More Trade News in Brief Week 51 (15 – 21 Dicember 2014)

* US and Cuba to Normalize Relations

The leaders of the United States and Cuba agreed to restore full diplomatic relations between the two countries.

Check here for more.

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* Russia to Launch Alternative to SWIFT Bank Transaction System

Russia plans to launch its own international inter-bank system by May 2015. The national payment system department of the Central Bank of Russia (CBR) will be in charge of the new project.

Find more here.

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 * The 2014 edition of the World Intellectual Property Indicators

WIPO’s World Intellectual Property Indicators 2014 provides a wide range of indicators covering the following areas of intellectual property: patents, utility models, trademarks, industrial designs, microorganisms and plant variety protection.

It draws on data from national and regional IP offices, WIPO and the World Bank.

Download the full report.

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* World Economic Situation and Prospects 2015 (WESP) Report

The UN World Economic Situation and Prospects 2015 (WESP) report, which was launched today, estimates growth in 2015 of 3.1 per cent and in 2016 of 3.3 per cent.

Read more about it here.

 

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News from ASEAN

* Timor-Leste Remains Committed to Join ASEAN
 
Timor-Leste remains committed to joining ASEAN and is currently rolling out measures at the national level to consolidate its bid for membership of ASEAN.
 
Check here for more.

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* ASEAN to Pilot Customs Transit System
 
An ASEAN Customs Transit System (ACTS) will be piloted in Malaysia, Singapore and Thailand. The system, aimed at facilitating the movement of transit goods by road within ASEAN.
 
Read more following the link.

 

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More Trade News in Brief Week 44 (27 October – 2 November 2014)

* Understanding National Accounts from OECD
 
The second edition of OECD’s guide Understanding National Accounts provides a comprehensive explanation of how national accounts are compiled and what they mean.
 
Read more here.
 
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* The Global Community of Practice on Food Loss Reduction
 
The Global Community of Practice (CoP) on Food Loss Reduction is launched jointly by the three Rome-based United Nations agencies, the Food and Agriculture Organization (FAO), the International Fund for Agricultural Development (IFAD) and the World Food Programme.
 
The Global Community of Practice on Food Loss Reduction attempts to reduce food losses and waste, which account for one third of food produced for human consumption, by bringing together for the first time a range of resources and allows stakeholders to share experiences and best practices.
 
The Global Community of Practice on Food Loss Reduction aims to become a global reference point that facilitates the sharing of information and linkages between stakeholders including public entities, civil society and the private sector.
 
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* ICC Adopts New Set of Rules for Dispute Resolution in Trade Finance
 
The International Chamber of Commerce (ICC) Banking Commission unanimously adopted today revised rules for Documentary Credit Dispute Resolution by Expertise (DOCDEX).
 
Find more here.

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* WTO Report Says Restrictive Trade Measures Continue to Rise in G-20 Economies
 
Restrictive trade measures introduced by G-20 economies since 2008 continue to rise, according to the latest WTO report on recent trade developments issued on 6 November 2014.
 
> WTO Report on G-20 Trade Measures (mid-May 2014 to mid-October 2014)
 
> Summary and Status of G-20 trade and trade-related measures since October 2008 (Excel Format)
 
> OECD/UNCTAD Report on G-20 Investment Measures
 

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More Trade News in Brief Week 42 (13 – 19 October 2014)

 
* Eurostat Regional Yearbook 2014
 
Eurostat, the statistical office of the European Union, published The Regional Yearbook 2014.
 
Check here.
 
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* International Tourism Up by 5% in the First Half of 2014
 
International tourist arrivals grew by 4.6% in the first half of 2014 according to the latest UNWTO World Tourism Barometer. Destinations worldwide received some 517 million international tourists between January and June 2014, 22 million more than in the same period of 2013.
 
Read more about here.
 
 
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* South Africa & Hong Kong – DTA
 
Hong Kong and South Africa signed a comprehensive double taxation agreement (CDTA).
 
See more here.
 
 

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OECD Releases First BEPS Recommendations

 
The OECD released its first recommendations for a co-ordinated international approach to combat tax avoidance by multinational enterprises.
 
The recommendations, under the OECD/G20 Base Erosion and Profit Shifting Project, are designed to create a single set of international tax rules to end the erosion of tax bases and the artificial shifting of profits to jurisdictions to avoid paying tax.
 
The first 7 elements of the Action Plan released today focus on helping countries to:
 Please find more here.

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China to Become World’s Largest Economy in 2024

 
According to a Report from IHS Economics, China will become the world’s largest economy in 2024.
 
IHS is a global information company with world-class experts in the pivotal areas shaping today’s business landscape: energy, economics, geopolitical risk, sustainability and supply chain management.
 
Read more about here.
 

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Corporate Income Tax Rates around the World

The key findings of the latest summary of worldwide corporate tax data published by The Tax Foundation are:
  • The United States has the third highest general top marginal corporate income tax rate in the world at 39.1 percent, exceeded only by Chad and the United Arab Emirates.
  • The worldwide average top corporate income tax rate is 22.6 percent (30.6 percent weighted by GDP).
  • By region, Europe has the lowest average corporate tax rate at 18.6 percent (26.3 percent weighted by GDP); Africa has the highest average tax rate at 29.1 percent.
  • Larger, more industrialized countries tend to have higher corporate income tax rates than developing countries.
  • The worldwide (simple) average top corporate tax rate has declined over the past decade from 29.5 percent to 22.6 percent.
  • Every region in the world has seen a decline in their average corporate tax rate in the past decade.
The Tax Foundation is a Washington, D.C.-based think tank founded in 1937 that collects data and publishes research studies on tax policies at the federal and state levels.
 
Read more about The Tax Foundation and Summary of Worldwide Corporate Tax Data 2014.
 
 

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