Archive for August, 2012

European Union’s Agreements

* Algeria Delays Implementation of FTA with EU
Algeria has successfully asked for more time to fully lift tariff restrictions with the European Union (EU) under the new Free Trade Agreement (FTA) which entered into force on September 1, 2012.
Now, the EU-Algeria free trade agreement should be fully phased-in by 2020, and not by 2017.
* ACP Group Urged To Conclude EPA Negotiations with EU
The African, Caribbean and Pacific Group of States (ACP) aimed to conclude their negotiations on an Economic Partnership Agreement (EPA) with the European Union (EU) this year.

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The Maritime Labour Convention (ILO’s MLC) Into Force in 12 Months’ Time

21 August 2012
The International Maritime Organisation (IMO) has announced that the minimum number of ratifications has being achieved to bring the International Labour Organisation’s Maritime Labour Convention (ILO’s MLC) into force in 12 months’ time.
For further information please follow the link.

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More Trade News in Brief – Week 35 (20 – 26 August 2012)

* US Against Greater International Internet Regulation
7 August 2012
The US Government expressed its opposition to any proposal that would give regulatory control of the internet to the United Nations (UN), under The International Telecommunications Regulations (ITRs).
* Canada Looks for Improving its GCS
21 August 2012
The Canadian government is consulting on improving its Global Commerce Strategy (GCS) for 2013 in order to expand and consolidate trade and investment ties with key markets.
Under the GCS, from its beginning in 2007, Canada has concluded new free trade agreements (FTAs) with nine countries, new foreign investment promotion and protection agreements with 11 countries and opened trade offices in the fast-growing priority markets of Brazil, China and India.
* Russia & Philippines Ratify Maritime Labour Convention, 2006
21 August 2012
The United Nations International Labour Organization (ILO) announced the ratification of the Maritime Labour Convention, 2006 (MLC, 2006) by Russia and the Philippines.
Read more here.
* South Korea & Costa Rica Agreed To Explore FTA
22 August 2012, Seoul
South Korea and Costa Rica have agreed to study the possibility of a bilateral free trade agreement (FTA).

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More Trade News in Brief – Week 34 (13 – 19 August 2012)

* CIS and Ukraine Signed an FTA
The Commonwealth of Independent States (CIS) signed an agreement allowing the free trade of goods and services with Ukraine, but it also has a list of exceptions ( such as crude oil, natural gas, sugar, and others).
More here.
* Declining Optimism over Global Economic Recovery
16 August 2012, Paris
The  ICC-Ifo World Economic Survey, released by International Chamber of Commerce (ICC), shows that the world economic climate indicator fell as fear continues to spread about the unsolved debt crisis in Europe.
Please read more here
* Tajikistan, More Closed to WTO
 17 August 2012
Tajikistan is entering the final stretch of its bid to achieve membership of the World Trade Organization (WTO).
Check here.
* China & North Korea Stregth Cooperation
China and North Korea signed an agreement for the joint management and development of two economic zones at the border. 
Both North Korea’s Rason Economic and Trade Zone and the Hwanggumphyong and Wihwa Islands Economic Zone are on the country’s borders with China.
Fore more click here.

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More Trade News in Brief – Week 33 (6 – 12 August 2012)

* ICC Global Network Extended to Albania and Kenya
3 August 2012, Paris
The International Chamber of Commerce’s (ICC) global network of national committees grown up with the implementation of ICC Albania and ICC Kenya.
Kindly check here.
* ISO 14452: Network Services Billing – Requirements
8 August 2012
The new ISO standard provides solutions by giving recommendations for utility services to improve their billing practices and make them more customer-friendly. This requirements ensure that the customers will receive clearly comprehensible, accurate, timely and complete bills.
ISO 14452:2012, Network services billing – Requirements, was developed by ISO project committee ISO/PC 239, Network services billing.
More here.
* India & Monaco Inked TIEA
6 August 2012
India and Monaco have signed a Tax Information Exchange Agreement (TIEA).

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China & Taiwan – Investment Protection Pact

9 August 2012, Taipei (Taiwan)
China and Taiwan close business ties and, after two years of negotiation, signed an investment protection pact.
For further information please check here.

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New Free Trade Agreements (FTAs)

* South Korea & Vietnam Started Negotiation on a FTA
Authorities from South Korea and Vietnam officially launched negotiations for a bilateral Free Trade Agreement (FTA)
Please click here.
* Pakistan & Mercosur Look for a FTA
The ambassadors from Pakistan and Mercosur expressed the desire of their countries to  hold talks on a trade pact soon.
More here.

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More Trade News in Brief – Week 32 (30 July – 5 August 2012)

* India & Indonesia Signed a DTA
 India and Indonesia have signed a double tax agreement (DTA).
* EASA Published Annual Safety Review 2011
 The European Aviation Safety Agency (EASA) has published its Annual Safety Review for 2011.
 More here.
* North American Emission Control Area (ECA) Came Into Force
The North American Emission Control Area (ECA), under the International Convention for the Prevention of Pollution from Ships (MARPOL), came into effect from 1 August 2012.
Please click here for more.

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New Taxes Agreements

–          Canada and Switzerland have reached an agreement on their double tax agreement (DTA) related to the last updated Article 25, standard developed by the Organization for Economic Cooperation and Development (OECD).

–          France and Andorra agreed to discussed a new comprehensive DTA between both countries.

–          Greece announced plans to negotiate a tax agreement with Switzerland.

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