Archive for June, 2012

Canada & Mexico Invited to Join to Pacific-Trade Talks

Canada and Mexico were invited to join nine nations negotiating a Multi-Nation Pacific Trade Agreement.
The other nine countries included in the negotiones are U.S., Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam.
More here and here.

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ICC – Economic Sanctions in the Global Economy

The National Law Forum

The National Law Review is pleased to bring you information regarding the upcoming ICC Institute’s Economic Sanctions in the Global Economy Conference:

At a time when the global financial crisis has severely impacted trade flows and hampered world growth, what is the effect and the justification for the extraterritorial application of economic sanctions?

The long arm reach of law enforcement agencies sets global companies unprecedented challenges in terms of conflict of laws and regulatory jurisdiction. Dozens of criminal, administrative or regulatory investigations on both sides of the Atlantic are currently targeting billions of dollars worth of commercial transactions and cross-border payments. Penalties in the hundred of millions of dollars are regularly disclosed sanctioning global companies and banks for their past cross-border dealings . What is the right balance between the governments’ objective of moving to a safer world and the business reality? How are judges and arbitrators expected to…

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“Green Economy Roadmap” from ICC

15 June 2012, Rio de Janeiro
The International Chamber of Commerce (ICC) released its “Green Economy Roadmap”, a guide for business, policymakers and society.
The Roadmap contains 10 conditions needed to drive growth in a resource-constrained world divided in 4 groups:
–   Economic innovation
          – Open and competitive markets
          – Metrics, accounting, and reporting
          – Finance and investment
–   Environment innovation
          – Resource efficiency and decoupling
          – Life cycle approach
–   Social innovation
          – Awareness
          – Education and skills
          – Employment
–   Mutually reinforcing and cross-cutting elements
          – Integrated environmental, social and economic policy and decision-making
          – Governance and partnerships
The Guide is available here.

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EU Sanctions Regarding Luxury and Dual Use Goods to Syria

15 June 2012, Luxembourg
The Council of the European Union approved implementing rules on certain EU sanctions against Syria to apply from 17 June:
–      ban on exports of luxury goods
–      ban on additional dual use goods
More here.

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Uruguay, the 1st to Ratify ILO Domestic Work Convention

14 June 2012, Geneva
Uruguay is the first country to ratify ILO’s standard-setting Convention on Domestic Workers adopted one year ago.
The ILC’s Convention aims to improve the working conditions of worldwide domestic workers.
More here.

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More Trade News in Brief – Week 25 (11–17 June 2012)

* South Africa-Seychelles DTA Protocol Comes Into Effect
The double taxation agreement (DTA) between South Africa and the Seychelles has been ratified and went into effect on May 15, 2012.
More here.
* US To Establish Normal Trade With Russia
13 June 2012, Washington
United States establish permanent normal trade relations (PNTR) with Russia and repeal the 1974 Jackson-Vanik amendment.
For further details, please check here.
* IFRS’s 2011 Annual Report Published
12 June 2012
The International Financial Reporting Standards (IFRS) Foundation published the complete 2011 Annual Report.
The Annual Report, divided in three sections Trustees of the IFRS Foundation, Standard-setting activities, and Financials is available here.

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Launch of the EIB Institute

11 June 2021

The European Investment Bank (EIB) launched the EIB Institute to complement and support the European initiatives for the common good. The principal three action programmes of the Institute will be  concentrated in the next three fields: Knowledge, Social and Arts.

The Institute will impleme action programmes favouring economic and social development in the EU Member States, Candidate and Potential Candidate Countries, and EEA Countries.

More information on the EIB Institute’s website.

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Pacific Alliance – A New Trading Bloc

6 June 2012
The new Alliance includes Chile, Colombia, Mexico, and Peru, and are aiming others to join, in particular Panama and possibly Costa Rica.
The Latin America knows several forms of ambitious economic and political integration blocs in recent years, from which we count:
Latin American Integration Association (known as ALADI or, occasionally, by the English acronym LAIA)
Central American Integration System (Spanish: Sistema de la Integración Centroamericana SICA)
Mercosur or Mercosul (Spanish: Mercado Común del Sur, Portuguese: Mercado Comum do Sul, Guaraní: Ñemby Ñemuha, English: Common Southern Market)
– The Union of South American Nations (Dutch: Unie van Zuid-Amerikaanse NatiesUZAN, Portuguese: União de Nações Sul-AmericanasUNASUL, Spanish: Unión de Naciones SuramericanasUNASUR)
– The Community of Latin American and Caribbean States (Spanish: Comunidad de Estados Latinoamericanos y Caribeños, CELAC, Portuguese: Comunidade de Estados Latino-Americanos e Caribenhos, French: Communauté des États Latino-Américains et Caribéens)
– The Andean Community (Spanish: Comunidad AndinaCAN)

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Investment Policy Framework for Sustainable Development (IPFSD)

12 June 2012

The United Nation Conference on Trade and Development (UNCTAD) launches Investment Policy Framework for Sustainable Development (IPFSD), a guideline for national and international investment policymaking to supports more sustainable development-friendly investment policymaking.

Please check the UNCTAD’s webpage.

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New gTLD Applied-For Strings

13 June 2012
The Internet Corporation for Assigned Names and Numbers (ICANN) developed the New generic Top-Level Domain Program which introduce new gTLDs into the Internet’s addressing system.
The gTLD represent an Internet domain name extension such as the familiar .com, .net, or .org.
The full list of submissions for new internet address endings can be consulted here.

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