Posts Tagged trade news

More Trade News in Brief – Week 24 (4–10 June 2012)

* EU Starts Free Trade Talks with Armenia
1 June 2012, Brussels
The European Union (EU) and Armenia have agreed to begin negotiations for a comprehensive Free Trade Area.
* Report on G20’s Trade & Investment
31 May 2012
WTO, OECD & UNCTAD published a report showing the negative impact of protectionist and discriminatory trade measures.
The seventh WTO-OECD-UNCTAD report for the G-20 on trade and investment reveals that government-imposed trade and investment restrictions continue to be an obstacle for global growth and development.
Please consult the report here.
* Hong Kong-Portugal DTA Comes Into Force
On June 3rd come into force the agreement for the avoidance of double taxation (DTA) signed between Hong Kong and Portugal.
* Canada Starts Investment Talks With Benin and Burkina Faso
The Canadian government has launched negotiations on foreign investment promotion and protection agreements (FIPAs) with Benin and Burkina Faso.
* India and Bahrain Sign TIEA
The governments of India and Bahrain have signed a tax information exchange agreement (TIEA).
* Annual Asset Management Report: Facts & Figures in Europe – EFAMA
31 May 2012, Brussels
EFAMA published the Fifth Annual Review Asset Management in Europe: Facts & Figures (using data as at end 2010).
This report take a tour of european the industry looking at its overall size, general structure, asset allocation and client base.
Please see the Report.

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New Global Standard on Assurance on Greenhouse Gas Statements

6 June  2012, New York
The International Auditing and Assurance Standards Board (IAASB) released new International Standard on Assurance Engagements (ISAE) 3410:
 Assurance Engagements on Greenhouse Gas (GHG) Statements
More further info please refer to the Press Release.

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World Still on Unsustainable Path – UN

6 June 2012
According to the fifth edition of the Global Environmental Outlook (GEO-5), launched on the UN Conference on Sustainable Development (Rio+20), from the 90 of the most important environmental goals and objectives only it has been notice a significant progress in four of them.
More here.

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“Incomplete” G20 Performance Revealed by ICC G20 Business Scorecard

5 June 2012, Washington DC
The International Chamber of Commerce (ICC) launched the ICC G20 Business Scorecard with the purpose of measuring the progress on the G20’s in response to business recommendations that have been put forward to Heads of Government.
Press Release
ICC G20 Scorecard
ICC G20 Scorecard – Executive Summary

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First EU-Pakistan Strategic Dialogue

5 June 2012, Islamabad
On the first EU-Pakistan Strategic Dialogue the two sides expressed their intention on improve bilateral cooperation
and shared views on regional and international issues of mutual concern.
More on the EU’s Press Release.

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EU to Overhaul E-trust Law

4 June 2012, Brussels
The European Union (EU) proposed several e-signatures and e-identity rules and required independent supervisory bodies to evaluate e-trust, or verification technology, for e-signature and website authentication providers. The changes will make it possible that the electronic signatures from different EU member states to be read, recognised and accepted.
Kindly find more on the below links:
–          Digital Agenda: new Regulation to enable cross-border electronic signatures and to get more value out of electronic identification in Digital Single Market
–          Electronic identification, signatures and trust services: Questions & Answers

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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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Pakistan and GCC States’ Trade Agreement

Pakistan and the GCC States are accelerating the process to conclude the deal for a Free Trade Agreement as soon as possible.

The main aim of the deal is to facilitate every potential investor and trader from both sides. A special attention is paid to investment, market access, enabling environment and non-tariff barriers negotiations.

The Cooperation Council for the Arab States of the Gulf (CCASG‎), also known as the Gulf Cooperation Council (GCC), is a political and economic union of the next states Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates.

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Canada, Japan, Mexico and Trans-Pacific Trade (TPP)

In spite of expressing interest in joining the proposed TPP Agreement negotiations, Canada, Japan, and Mexico have not been yet accepted to talks
The TPP negotiations have been launched in 2005 among four countries, and eventually expanding to a group of nine (Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, the US, and Vietnam).

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