G8 Becomes the G7 as Leaders Kick Russia Out

 

The leaders of the remaining countries – Britain, the US, Germany, France, Italy, Canada and Japan, who are calling themselves the G7 – agreed to meet in Brussels this year and decided to give Russia the boot.

 

Check here for more.

 

 

More Trade News in Brief Week 3 (13 – 19 January 2014)

 

* Oxfam’s New Global Food Table

 

Oxfam published an index which compares the way the food is produced and distributed around the world.

 

European countries occupy the entire top 20 bar one – Australia ties in 8th place – while the US, Japan, New Zealand, Brazil and Canada all fall outside. African countries occupy the bottom 30 places in the table except for four – Laos, Bangladesh, Pakistan and India are there too.

 

See more at Good Enough to Eat, Oxfam Media Briefing.

 

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* South Korea & India Agree To Upgrade FTA, Revise DTA

 

South Korea and India agreed to upgrade their comprehensive economic partnership agreement (CEPA) and put into effect the revised double taxation agreement (DTA) between the two countries as soon as possible.

 

Check here for more.

 

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New International Services Trade Agreement (ISA)

 

A group of 20 trading partners – the US, Canada, the European Union, Norway, Switzerland, Australia, New Zealand, Hong Kong, South Korea, Japan, Singapore, Taiwan, Mexico, Chile, Colombia, Peru, Costa Rica, Israel, Pakistan and Turkey – will start soon negotiations on a new International Services Agreement (ISA).

 

Please find more information following the next link.

 

ASEAN + 6 Free Trade Negotiations

Phnom Penh (Cambodia)

 

ASEAN and its FTA’s partners expected to commence in 2013 negotiations on a new regional trade treaty, the Regional Comprehensive Economic Partnership (RCEP).

 

The RCEP is to be negotiated between ASEAN’s ten member countries – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam – and its current six free trade agreement (FTA) partners – Australia, New Zealand, China, India, South Korea and Japan.

 

Check here and/ or here for more information.

 

More Trade News in Brief – Week 27 (25 June – 1 July 2012)

* US to Cooperate With Switzerland & Japan On FATCA

 

25 June 2012, Washington

 

After the agreements reached with France, Germany, Italy, Spain and the UK, US is pursuing  the implementation of the Foreign Account Tax Compliance Act (FATCA) with Switzerland and Japan.

 

 More here.

 

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* UNCTAD & WIPO Start Regular Consultation

 

25 June 2012

 

The United Nation Conference on Trade and Development (UNCTAD)  and the World Intellectual Property Organization (WIPO) have decided to establish of a regular consultation mechanism between the two organizations to strengthen consultation and coordination on issues of mutual interest.

 

Further information here.

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* OECD – International Migration Outlook 2012

 

27 June 2012

 

OECD published the International Migration Outlook 2012 which provide an analysis of recent developments in migration movements and policies in OECD countries.

 

        More here.

 

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* ICC Publishes Banking Commission Official Opinions

 

28 June 2012, Paris

 

The International Chamber of Commerce (ICC) published  the volume “Banking Commission Official Opinions” on regard of the impact and isuues related to the latest ICC rules on documentary credits, collections and demand guarantees in daily practice.

 

For further information please click here.

 

Brazil Signing Currency Swap Agreements with All BRICS

 

Brazil and China have signed a Currency Swap Agreement in order to pay for trade transactions in local currencies (the real and the yuan or renminbi).

 

Furthermore, Brazil revealed that similar currency swap agreements were under study with all the members of the BRICS group of nations (Brazil, Russia, India, China and South Africa).

 

On the other side, China have signed similar agreements with Australia, Hong Kong and Japan.

 

China and Japan – Yen-Yuan Direct Trading

After an agreement reached last year to reinforce financial ties between the two countries, China and Japan will start direct trading of their currencies in both markets from June 1st.

 

The movement will help both countries to reduce the currency’s links to the U.S. dollar and drop the foreign-exchange costs for local corporations.

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.

A Trilateral Agreement Between China, South Korea and Japan under Discussion

8 May 2012, Beijing

 

After the first round of negotiation between South Korea and China on their bilateral FTA, a trilateral agreement to include Japan will also be under discussion.

US-Japan Joint Statement on Global Supply Chain Security

2 May 2012, Brussels

 

In the Joint Statement, the Governments of Japan and the US acknowledge that efforts to strengthen the global supply chain are top important for a safety and smooth trading.

 

Japan and the US are committed to supporting and working with the World Customs Organization (WCO), the International Civil Aviation Organization (ICAO), the International Maritime Organization (IMO), the Universal Postal Union (UPU) and the Asia Pacific Economic Cooperation (APEC) organization to strength  the worldwide security across all modes of transport.

 

More information here.