News from EU

 

* Emissions Trading Scheme for Aviation

 

The Presidency of the Council and representatives of the European Parliament have agreed on a draft regulation amending the EU Emissions trading scheme (ETS) directive (2003/87/EC).

 

Read more here.

 

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* European Maritime Safety Agency

 

The Council and European Parliament reached a compromise on funding the European Maritime Safety Agency (EMSA) in response to marine pollution caused by ships and oil and gas installations.

 

Check here for more.

 

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Europe 2020 Project Bond Initiative

5 July 2012, Brussels

 

The European Parliament adopted the proposal for a pilot phase of the Project Bond Initiative. This is an important initiative to mobilise the necessary funding for project financing in sectors of transport (TEN-T), energy (TEN-E) and information and communication technology (ICT).

 

Please check the next links:

 

http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/12/525&format=HTML&aged=0&language=EN&guiLanguage=en

 

http://www.eib.org/about/news/key-role-for-the-eib-in-europe-2020-project-bond-initiative.htm

 

http://ec.europa.eu/economy_finance/consultation/index_en.htm

More Trade News in Brief – Week 21 (14-20 May 2012)

* CIS Summit 2012

 

 15 May 2012, Moscow

 

Countries of the Commonwealth of Independent States (CIS) reaffirm their commitment to tied their relations and to considered economic and trade cooperation a priority.

 

On 15^th May, the delegations of the CIS’s members discussed the ratification of the agreement on a free trade zone within the Commonwealth of Independent States.

 

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* Informal Talks on Information Technology Agreement (ITA)

 

15 May 2012-05-18

 

Under the WTO’s organization, several countries have announced their intention to start informal bilateral and plurilateral consultations on what products to add to the Information Technology Agreement (ITA).

 

More here.

 

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* South Africa – CPI & PPI to be Reviewed

 

 16 May 2012, Pretoria

 

The Government announced that the methods used to calculate the Consumer Price Index (CPI) and the Producer Price Index (PPI) are to be reviewed. More here.

 

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* EU Demands Accurate Information

 

 European Parliament has emitted a resolution calling for accurate information on customs duty and value-added tax (VAT) evasion in member states.

The aim argue was that the EU Anti-Fraud Office (OLAF) is unable to recover misused money from member states or even to provide accurate data related to EU funds.

 

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* The 5^th Round Negotiation between China & Switzerland on FTA

 

16 May 2012, Beijing

 

On the last round negotiations, 8-10  May en Beijing, the two parts exchanged views on issues as: goods trade tariff reductions, trade in services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, intellectual property rights, competition policies and trade dispute remedies.

 

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* G8 Summit – “Acting Together”

 

This year’s G8 Summit, under the motto “Acting Together”, will take place on 18-19 May 2012 in Camp David.

 

More: EU & U.S. Department of State.

 

EU Strength the Banking System

14 May 2012, Brussels

 

The  EU Economic and Monetary Affairs Committee agreed to require banks to improve and strength their defences against future financial shocks. 

 

The tighter rules will be applied to bank capital issues (the funds held by a bank in the form of cash, real estate, bonds, shares, and loans such as mortgages etc. ) and to its liquidity (how easily it can be converted into cash in order to make payouts to creditors and depositors).

 

The proposed rules are being following an international agreement called Basel III and, if the European Parliament approve it, the EU would become the first entity to institute the new requirements.