Archive for May, 2012

The CIS Signed Several Documents on Integration Cooperation

 
30 May 2012, Ashgabat (Turkmenistan)
 
The Commonwealth of Independent States (CIS) governments sign several important documents on various aspects of the integration cooperation of the CIS member-states.
 
More here.
 
 
 
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ECB Publishes the Convergence Report 2012

30 May 2012
 
The European Central Bank (ECB) published its Convergence Report 2012 which include the progress made by eight Member States of the European Union (EU) in fulfilling their obligations regarding the achievement of Economic and Monetary Union (EMU).
 
The Convergence Report 2012 shows results in the fields of: Price stability, Government budgetary position, Exchange rate, Long-term interest rate, and Legal convergence.
 
The Convergence Report 2012 is available on the ECB’s website.

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China and Japan – Yen-Yuan Direct Trading

After an agreement reached last year to reinforce financial ties between the two countries, China and Japan will start direct trading of their currencies in both markets from June 1st.
 
The movement will help both countries to reduce the currency’s links to the U.S. dollar and drop the foreign-exchange costs for local corporations.

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Colombia & Mexico Join the OECD’s Multilateral Tax Pact

23 May 2012
 
Colombia has signed, and Mexico has deposited its instrument of ratification for the Multilateral Convention on Mutual Administrative Assistance in Tax Matters developed jointly by the OECD and the Council of Europe. The Convention is multilateral instrument available for tax co-operation and exchange of information and it helps counter cross-border tax evasion and ensures compliance with national tax laws.
 
 Colombia also adhered to:
–          the OECD’s Declaration on Propriety, Integrity, Transparency in the Conduct of International Business and Finance,
–          the OECD’s Declaration on Green Growth
–          the OECD’s Recommendation on Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas
 
More here.

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The IMO’s Maritime Safety Committee Releases

25 May 2012, London
 
At the Organization’s London Headquarters for its 90th session from 16 to 25 May 2012, the IMO’s Maritime Safety Committee agreed on the bellow interim guiance and recommended interim measures:
–          Guidance for private maritime security companies, more information here
–          Passenger ship safety recommendations, more information here

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EFTA – Ukraine Free Trade Agreement

Following ratification by all parties, the free trade agreement (FTA) between the EFTA and Ukraine will become effective on 1 June 2012.
 
For more information please visit the EFTA website.

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New ISO Standards on Inspection and Audit Reports

24 May 2012
 
The new ISO’s standards, ISO/IEC 17020 & ISO/IEC TS 17022, were developed by the ISO Committee on conformity assessment (ISO/CASCO).
 
ISO/IEC 17020:2012, Requirements for the operation of various types of bodies performing inspection – gives requirements for inspection bodies.
 
ISO/IEC TS 17022:2012, Requirements and recommendations for content of a third-party audit report on management systems – contains requirements and recommendations for the content of an audit report of a third-party management system certification (like ISO 9001 or ISO 14001).
 
More here.

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Albania Takes Part of Harmonized System Convention (HS)

21 May 2012, Brussels
 
The World Customs Organization (WCO) is pleased to welcome Albania as the 142nd Contracting Party to the Harmonized System Convention as the country deposited its instrument of accession to the International Convention on the Harmonized Commodity Description and Coding System (Harmonized System).
 
The Harmonized System Convention will enter into force in Albania on 1 January 2014.
 
For further details please refer to WCO’s webpage.
 

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More Trade News in Brief – Week 22 (21-27 May 2012)

* OECD Launches New Version of Your Better Life Index
 
22 May 2012
 
The OECD released the second year pioneering Your Better Life Index – an online, interactive index that allows people to measure and compare their lives.
 
The index permit to compare the well-being of your life based on 11 topics – housing, income, jobs, community, education, environment, governance, health, life satisfaction, safety and work-life balance.
 
For more information on the Your Better Life Index:

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* U.S. and EU Cut Aids
 
U.S. cuts aid to Pakistan by $33 million as punitive move for the physician’s 33-year sentence for high treason.
 
More details here.
 
EU’s Parliament proposed new macro-financial assistance regulation which ensure that countries close to the EU (Balkans and the Eastern Neighbourhood), will be obliged to meet stricter conditions in order to receive aids from EU.
 
Please read more here.

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* New UN Website on Sustainable Development Projects

23 May 2012

The United Nations (UN) launched a new online database to strengthen partnerships between sustainable development projects in developing countries.

For further information kindly refer to UN’s webpage.

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* Exporter Dynamics Database from World Bank
 
The World Bank release the new Exporter Dynamics Database which offers exporter characteristics in 45 developed and developing countries.
 
More here.

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New ILO Report on Rights of Work

25 May 2012, Geneva
 
Entitled Fundamental principles and rights at work: From commitment to action, the new ILO Report reflect the worldwide situation concerning its fundamental principles and rights of work – freedom of association and collective bargaining, forced and child labour and discrimination.
 
Furthermore, the report is the first on these fundamental principles to be issued under the ILO’s 2008 Declaration on Social Justice for a Fair Globalization.

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