Posts Tagged FTA

EFTA – Ukraine Free Trade Agreement

Following ratification by all parties, the free trade agreement (FTA) between the EFTA and Ukraine will become effective on 1 June 2012.
For more information please visit the EFTA website.

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Australia & Malaysia Signed a FTA

23 May 2012, Canberra
Australia and Malaysia have signed a free trade agreement (FTA) tagged MAFTA. The deal will guarantee tariff-free entry for 97.60 percent of goods imports by Malaysia from Australia once it enters into force and will rise to 99% by 2017.
More about Australian FTAs on the on Department of Foreign Affairs and Trade, Australian Government.

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“Full Trade Liberalization” Between EU and US at the Horizon

22 May 2012, London
EU and US will star the negation on a broad trade agreement soon, the US Trade Ambassador Ron Kirk said. The accord is expected to be completed by the middle of 2014, assure the EU Trade Commissioner Karel De Gucht.
The two side have the world’s largest bilateral economic relationship, but they are unable to reach agreement in areas such as agriculture, health and safety standards and regulations.

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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 15th 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.
* 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.
* 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.
* 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.
* The 5th 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.
* 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.

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EU & South Korea Urge the FTA Ratification

The European Union (EU) and South Korea are seeking to  urge the ratification of the free trade agreement (FTA) between them. The FTA would remove progressing all tariffs and as many non-tariff barriers between the two economies over three to five years.

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China & Colombia Initiate FTA Talks

11 May 2012, Beijing
China and Colombia agreed  that the two countries should commence discussions on the feasibility of a bilateral free trade agreement (FTA).
Among other areas, the deal should increase the access to the Chinese market for the Colombian livestock sector and boost bilateral trade and investment in energy and minerals.

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Pakistan Ready for EU GSP Plus FTA

10 May 2012, Islamabad, Pakistan
The Pakistan’s authorities states that their country is now ready to engage with the European Union (EU) on Generalised System of Preferences (GSP) plus and a Free Trade Agreement.
The president Asif Ali Zardari said this while addressing a gathering of EU diplomats at “50th Anniversary of Pak-EU Relations”.

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ROC President Calls for Taiwan-Japan FTA Talks

9 May 2012, Taipai, ROC (Republic of China, know as Taiwan)
Taiwanese authorities are seeking for a free trade agreement with Japan and take bilateral economic ties to new heights. ROC President Ma Ying-jeou said that the accord should include an investment protection arrangement, open sky agreement and a special law by Tokyo to protect ROC artwork.

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South Korea and China Start Talks on a FTA

2 May 2012, Seoul, South Korea
Asia’s largest and fourth-largest economies he agreed to start negotiation on a free trade agreement (FTA) as early as possible.
In 2011, China was South Korea’s largest trade partner and South Korea was China’s fourth-largest trade partner.

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Canada and Japan Free Trade Negotiations

The governments of Canada and Japan agreed to formally start talks aimed at forging a free trade agreement between the two countries. If established, the free trade agreements (FTA) would be Japan’s first with a country from the Group of Eight major economies.  An FTA between these two highly-developed trading partners seek to boost economic, energy and security relations.
The negotiation are seeking to develop and achieve long-range goals as:
–       Increased Trade and Investment
–       Opening Markets to Goods and Services
–       Regulation on Non-Tariff Barriers
–       Promoting Innovation
–       Promoting Transparency
–       Entrepreneurship and Increasing Flows of People
Canada currently pursuing treaties with the European Union, South Korea and India, Ottawa would also begin free trade talks with Thailand. Japan’s current priorities for economic integration are focused on the Pacific Rim and ASEAN areas. In 2011, Japan signed concluded an FTA with Mexico (September 23) and signed Economic Partnership Agreements (EPA) with the Republic of India (June 30) and Peru (May 31). At this moment, Japan is involved in advanced negations of an EPA with Australia.

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