More Trade News in Brief Week 19 (4 – 10 May 2015)

South Korea, Vietnam Sign FTA

The bilateral FTA upgrades the South Korea – ASEAN agreement by further cutting import duties, more than 90 percent of all their traded goods.

Check here for more.

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Digital Single Market for Europe

The Digital Single Market strategy is made up of three policy areas or ‘pillars’:

Better online access to digital goods and services

An environment where digital networks and services can prosper

Digital as a driver for growth

Please read more here.

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ECB publishes its Euro Money Market Study 2014

The European Central Bank (ECB) is publishing its biennial report entitled “Euro Money Market Study 2014”.

Check it here.

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ICC Revises DOCDEX Rules

The International Chamber of Commerce (ICC) has revised its DOCDEX rules, a dispute resolution mechanism specifically designed to address trade finance concerns.

Check here for more.

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New ICC Cyber Security Guide

The International Chamber of Commerce (ICC) has published a new straight-speaking guide to help companies of all sizes manage their approach to cyber security and mitigate threats posed by cybercrime.

Click here for more.

 

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Asian Infrastructure Investment Bank (AIIB)

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.

Check here for more.

More Trade News in Brief Week 12 (16 – 22 March 2015)

* Switzerland, EU Ink New Savings Tax Pact

Switzerland and the European Union (EU) have initialled an agreement on the automatic exchange of tax information (AEOI). Account data will be collected from 2017, with the first exchange scheduled for 2018.

See more clicking here.

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* EU: Combatting Corporate Tax Avoidance

The European Commission presented a package of tax transparency measures as part of its ambitious agenda to tackle corporate tax avoidance and harmful tax competition in the EU. A key element of this Tax Transparency Package is a proposal to introduce the automatic exchange of information between Member States on their tax rulings

Read more here.

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* China and US Telecoms Giants Lead Global Patent Activity in 2014

According to the UN World Intellectual Property Organization (WIPO) annual review of international patent filings, a leading Chinese telecoms giant overtook a Japanese firm as the largest applicant last year, and China and the US together accounted for 87 per cent of the total growth in filings under WIPO’s Patent Cooperation Treaty (PCT).

Under that system, some 215,000 applications were filed in 2014, a 4.5 per cent increase over the previous year, WIPO said in a news release.

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* WTO: Assistance in Food Safety, Animal and Plant Health

Five agencies and their partners operating a programme to help developing countries meet international standards on food safety and animal and plant health have approved plans for 2015–2019 designed to further strengthen safe trade.

The decision will allow the Standards and Trade Development Facility (STDF) to continue to provide assistance to developing countries,

The STDF was set up in 2004 by the UN Food and Agriculture Organization (FAO), World Organization for Animal Health (OIE), World Bank, World Health Organization (WHO) and World Trade Organization (WTO), and is run by the five partners together with donor countries and representatives of developing countries.

Check here and here for more.

 

More Trade News in Brief Week 8 (16 – 22 February 2015)

* UNWTO World Tourism Barometer 2014

International tourist arrivals reached 1,138 million in 2014, a 4.7% increase over the previous year, according to the latest UNWTO World Tourism Barometer. For 2015, UNWTO forecasts international tourism to grow by 3% to 4%, further contributing to the global economic recovery.

Useful links:

UNWTO World Tourism Barometer
Infographic: International Tourist Arrivals 2014 (per region)
Infographic: International Tourist Arrivals 2014 (growth per region)
Infographic: Why Tourism Matters
UNWTO Tourism Highlights, 2014 Edition

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* UNIDO – Global Manufacturing Growth Stayed Low in 2014

According to the last UNIDO report, world manufacturing production has been trapped in low growth for a prolonged period and there was no breakthrough in 2014.

For further information on the report, please click here.

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* World Oil Outlook

OPEC’s World Oil Outlook (WOO) is a means to highlight and further the understanding of the many possible future challenges and opportunities that lie ahead for the oil industry.

Check here the 2014 Edition.

 

News from UNCTAD

* 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.

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* 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).

UNCTAD Automated System for Customs Data (ASYCUDA).

An integrated customs management system for international trade and transport operations in a modern automated environment.

More Trade News in Brief Week 3 (12 – 18 January 2015)

* World Employment and Social Outlook – Trends 2015

The new ILO report includes a forecast of global unemployment levels and explains the factors behind this trend, including continuing inequality and falling wage shares.

Download the report from here.

Read more here.

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* IMF Downgrades Global Growth Forecast

According to its World Economic Outlook (WEO) update , the IMF lowered growth expectations for this year and the next for most countries due to slowdown in investment, and urged governments and central banks to pursue economic stimulation policies and structural reforms to boost growth.

Download Full-Text PDF: English

 

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* UNCTAD – Latest developments in national and international investment policies

UNCTAD’s latest Investment Policy Monitor shown that the vast majority of new investment policy measures were aimed at creating more favourable investment conditions.

Download: Investment Policy Monitor No. 13

Quick link: Investment Policy Monitor (Series)

More Trade News in Brief Week 51 (15 – 21 Dicember 2014)

* US and Cuba to Normalize Relations

The leaders of the United States and Cuba agreed to restore full diplomatic relations between the two countries.

Check here for more.

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* Russia to Launch Alternative to SWIFT Bank Transaction System

Russia plans to launch its own international inter-bank system by May 2015. The national payment system department of the Central Bank of Russia (CBR) will be in charge of the new project.

Find more here.

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 * The 2014 edition of the World Intellectual Property Indicators

WIPO’s World Intellectual Property Indicators 2014 provides a wide range of indicators covering the following areas of intellectual property: patents, utility models, trademarks, industrial designs, microorganisms and plant variety protection.

It draws on data from national and regional IP offices, WIPO and the World Bank.

Download the full report.

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* World Economic Situation and Prospects 2015 (WESP) Report

The UN World Economic Situation and Prospects 2015 (WESP) report, which was launched today, estimates growth in 2015 of 3.1 per cent and in 2016 of 3.3 per cent.

Read more about it here.

 

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 44 (27 October – 2 November 2014)

* Understanding National Accounts from OECD

 

The second edition of OECD’s guide Understanding National Accounts provides a comprehensive explanation of how national accounts are compiled and what they mean.

 

Read more here.

 

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* The Global Community of Practice on Food Loss Reduction

 

The Global Community of Practice (CoP) on Food Loss Reduction is launched jointly by the three Rome-based United Nations agencies, the Food and Agriculture Organization (FAO), the International Fund for Agricultural Development (IFAD) and the World Food Programme.

 

The Global Community of Practice on Food Loss Reduction attempts to reduce food losses and waste, which account for one third of food produced for human consumption, by bringing together for the first time a range of resources and allows stakeholders to share experiences and best practices.

 

The Global Community of Practice on Food Loss Reduction aims to become a global reference point that facilitates the sharing of information and linkages between stakeholders including public entities, civil society and the private sector.

 

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* ICC Adopts New Set of Rules for Dispute Resolution in Trade Finance

 

The International Chamber of Commerce (ICC) Banking Commission unanimously adopted today revised rules for Documentary Credit Dispute Resolution by Expertise (DOCDEX).

 

Find more here.

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* 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

 

More Trade News in Brief Week 42 (13 – 19 October 2014)

 

* Eurostat Regional Yearbook 2014

 

Eurostat, the statistical office of the European Union, published The Regional Yearbook 2014.

 

Check here.

 

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* International Tourism Up by 5% in the First Half of 2014

 

International tourist arrivals grew by 4.6% in the first half of 2014 according to the latest UNWTO World Tourism Barometer. Destinations worldwide received some 517 million international tourists between January and June 2014, 22 million more than in the same period of 2013.

 

Read more about here.

 

 

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* South Africa & Hong Kong – DTA

 

Hong Kong and South Africa signed a comprehensive double taxation agreement (CDTA).

 

See more here.