TPP Free Trade Deal to Be Signed On Feb 4

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.

Check for more here & here.

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More Trade News in Brief Week 38 (14 – 20 September 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.

Check for more here and here.

Useful links:

UNWTO World Tourism Barometer

UNWTO Tourism Highlights, 2015 Edition 

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* 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.

Read more here.

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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.

Find more here.

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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. 

Download the entire news release (PDF 160KB)

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* 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.

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* New ICC Dispute Board Rules

New Rules governing ICC Dispute Boards will come into effect on 1 October 2015.

For more information click here.

 

More Trade News in Brief Week 26 (22 – 28 June 2015)

* UNCTAD – World Investment Report 2015

The World Investment Report focuses on trends in foreign direct investment (FDI) worldwide.

Check World Investment Report 2015 – Reforming International Investment Governance.

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* New WCO Guide to Customs Valuation and Transfer Pricing

The WCO launched a major new guide on the topic of Customs valuation and transfer pricing.

The guide is available to download via this link.

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* ICC Launches New Tool to Promote Business Sustainability

The International Chamber of Commerce (ICC) launched the 3^rd and radical update of its respected Business Charter for Sustainable Development.

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* OECD – Government at a Glance 2015

Monday, 6 July, the OECD will publish Government at a Glance 2015.

The biannual report presents more than 50 indicators to compare governments’ performance in everything from public finances (including government spending per person), cuts to staffing and pay in central government and the level of private asset disclosure by government officials to access to and satisfaction with the healthcare, education and the justice systems.

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* The OECD-FAO Agricultural Outlook 2015-2024

The OECD-FAO Agricultural Outlook 2015-2024 will be published on Wednesday 1 July.

The report analyses agriculture production, discusses how global markets are reacting to price volatility in both food and commodity markets and looks at farm sector trends for the coming decade.

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.

 

More Trade News in Brief Week 17 (21 – 27 April 2014)

 

* G5 Agree Deadline for Automatic Info Exchange

 

The G5 has agreed to formally ink a new deal on a global standard for the automatic exchange of tax information.

 

Check here for more.

 

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* US and Australia Inked IGA

 

The United States and Australia signed an intergovernmental agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA).

 

Find more following the link.

 

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* Bahrain Implements ATA Carnet System

 

Bahrain is the 74th country in the world to adopt the ATA system.

 

Read more here.

 

 

More Trade News in Brief Week 51 (16 – 22 December 2013)

 

* Switzerland Joins GNSS

 

Switzerland signed a cooperation agreement to participate in the Galileo and EGNOS programmes, the EU’s Global Navigation Satellite System (GNSS).

 

Check here for more.

 

 

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* Netherlands Signs IGA FATCA Agreement

 

Netherlands signed an Intergovernmental Agreement (IGA), implementing the US Foreign Accounts Tax Compliance Act (FATCA).

 

Please follow the link.

 

 

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* US & Libya Signed TIFA

 

The United States and Libya today signed a Trade and Investment Framework Agreement (TIFA).

 

Click here for more.

 

 

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* EU’s GSP Updated

 

The EU’s “Generalised Scheme of Preferences” (GSP) will change on 1 January 2014.

 

Please find more details here.

 

More Trade News in Brief Week 36 (2 – 8 September 2013)

 

* Indonesia and Pakistan Signed FTA

 

The governments of Indonesia and Pakistan finally signed a FTA after 10 years of negotiation.

 

Check here for details.

 

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* South Korea and Vietnam to Accelerate Trade Negotions

 

South Korea and Vietnam agreed to conclude a bilateral free trade agreement next year.

 

Please find more here.

 

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* Bahrain – Closer to ATA Carnet System

 

Bahrain prepares to implement ATA Carnet System.

 

For more information visit the ATA Carnet System.

 

More Trade News in Brief Week 32 (5 – 11 August 2013)

 

* Indonesia Joins ATA System

 

Indonesia is preparing the implementation of the ATA System in its Customs.

 

Please follow the link.

 

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* New Database on Trade from WTO and WB

 

The WTO and the World Bank have agreed to jointly develop and maintain a database on trade in services. The first version of the database is part of the WTO’s Integrated Trade Intelligence Portal I-TIP Services portal.

 

Check here for more.

 

News from BRICS

 

* BRICS Business Council

 

6 March 2013, Pretoria

 

The BRICS Members announced the launch of the BRICS Business Council for trade and industry promotion.

 

Check here for more.

 

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* BRICS Customs Cooperation

 

11 March 2013, Pretoria

 

The BRICS Customs Agencies search for speeding up customs procedures and agreed to unify the software, organize preliminary informing and stimulate electronic customs clearance of cargoes.

 

Please follow the link.

 

 

More Trade News in Brief – Week 2 (7 – 13 January 2013)

* IMO – Amended MARPOL

 

The new amendments to the International Convention for the Prevention of Pollution from Ships (MARPOL) entered into force on 1 January 2013.

 

The new chapter make mandatory the Energy Efficiency Design Index (EEDI), for new ships, and the Ship Energy Efficiency Management Plan (SEEMP) for all ships.

 

Find more on the International Maritime Organization (IMO) page.

 

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* Laos – The WTO’s 158th Member

 

Laos will officially become the WTO’s 158th member state on 2 February.

 

Read more here.

 

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* Comoros – The 146th Contracting Party to the Harmonized System Convention

 

The Union of the Comoros started the process of joining to the International Convention on the Harmonized Commodity Description and Coding System (Harmonized System).

 

Check the Press release.