Archive for category Globalization Challenges
New Zealand will host the signing ceremony for the Trans-Pacific Partnership Agreement on February 4, 2016. The deal was reached on 5 October 2015 after 7 years of negotiations.
The Trans-Pacific Partnership Agreement (“TPP”) is a free trade agreement between nine countries: The United States, Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, and Vietnam.
January 16th, 2016
Crippling economic sanctions on Iran have been lifted now that the International Atomic Energy Agency (IAEA) has certified that it has restricted its sensitive nuclear activities.
The Iran nuclear deal framework was a preliminary framework agreement reached in 2015 between the Islamic Republic of Iran and a group of world powers: the P5+1 (the permanent members of the United Nations Security Council–the United States, the United Kingdom, Russia, France, and China plus Germany), plus the European Union.
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Posted by Bogdan Marius Beleuz in Agriculture & Food Security, Auditing & Accounting, Corporate Business & Management, Geopolitical Issues, Globalization Challenges, International Trading, Labour & Employment, More Trade News in Brief, Reports & Analysis, Statistics, Reports & Analysis, Worlwide Customs on September 19, 2015
* WTO – Rise in Global Tourism Continues
International arrivals rose by 5 per cent in Europe, Asia and the Pacific, and the Middle East, and by 4 per cent in the Americas, according to figures released by the UN World Tourism Organization (UNWTO).
The most popular regions proved to be the Caribbean and Oceania, which saw a rise of seven per cent, while Central and Eastern Europe and Central America saw a rise of six per cent.
* G20 Labour Markets in 2015
The report G20 Labour Markets 2015: Strengthening the Link between Growth and Employment, compiled by the International Labour Organization (ILO), the Organisation for Economic Co-operation and Development (OECD) and the World Bank Group, reveals that growth among G20 economies averaged 3.2 per cent over the last three years compared to 4.1 per cent from 2000 to 2007.
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* FAO Food Price Index
According to the FAO Food Price Index, which tracks international market prices for five major food commodity groups – cereals, meat, dairy products, vegetable oils and sugar – virtually all food groups registered marked dips in price in August.
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* G7 and BRIICS Merchandise Trade Continues to Slow in Second Quarter of 2015
Total G7 and BRIICS international merchandise trade, in current US dollars, continued to contract in the second quarter of 2015, with exports and imports declining by 0.9% and 1.2% respectively, compared with the previous quarter.
* Belize, Switzerland ratify Trade Facilitation Agreement
Belize and Switzerland have become the 13th and 14th WTO members to ratify the WTO’s Trade Facilitation Agreement (TFA). The TFA contains provisions for expediting the movement, release and clearance of goods, including goods in transit. It also sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues.
More information on trade facilitation and the TFA can be found at: www.wto.org/tradefacilitation.
* New ICC Dispute Board Rules
New Rules governing ICC Dispute Boards will come into effect on 1 October 2015.
For more information click here.
FAO – World Food Prices Hit Lowest Level in Almost Six Years
According to the United Nations Food and Agriculture Organization (FAO) the prices for global agricultural products in July hit their lowest level since September 2009.
Check here for more: UN agency reports world food prices declining to six-year low .
EPA – The Clean Power Plan
The United States Environmental Protection Agency (EPA) unveiled The Clean Power Plan, it aims to cut greenhouse gas emissions from US power stations and it shows the determination of the US to address global warming.
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WMO – First Half of 2015 ‘Hottest Six Months on Record”
The United Nations World Meteorological Organization (WMO) reported the globally averaged temperature over land and ocean surfaces was the hottest for such period on record, from January to June 2015.
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African leaders have agreed to create the continent’s largest free-trade zone, covering 26 countries in an area from Cape Town to Cairo. The Tripartite Free Trade Area (TFTA) will cap five years of negotiations.
Three existing trade blocs – the Southern African Development Community (Sadc); the East African Community (EAC) and the Common Market for Eastern and Southern Africa (Comesa) – are to be united into a single new zone.
The Asian Infrastructure Investment Bank (AIIB) is an international financial institution proposed by the government of China.
At least 47 countries and territories from five continents have applied to join the Beijing-led Asian Infrastructure Investment Bank as founding members.
Sweden and Kyrgyzstan were among the last to apply before the deadline, 31 March 2015, adding further weight to the regional financing body, which has seen its influence grow even before it officially starts operation.
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* 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.
* 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).
An integrated customs management system for international trade and transport operations in a modern automated environment.
Posted by Bogdan Marius Beleuz in Agriculture & Food Security, Auditing & Accounting, Banking System, Energy & Natural Resources, Geopolitical Issues, Global Financial System, Global Tax Agreements, Globalization Challenges, International Trading, More Trade News in Brief, Statistics, Reports & Analysis, Sustainable Development on November 9, 2014
——————————————————————————————————————————————–—* 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
Posted by Bogdan Marius Beleuz in Corporate Business & Management, European Union Issues, Fiscality, Auditing & Accounting, Geopolitical Issues, Global Financial System, Global Tax Agreements, Globalization Challenges, International Trading, More Trade News in Brief, Reports & Analysis, Statistics, Reports & Analysis on October 20, 2014