IFCBA's blog

India wants solution on subsidies from WTO talks, continuation of Doha round: Commerce secy Rita Teaotia

NEW DELHI: With less than a fortnight left for the WTO ministerial in Nairobi, India has stated its expectations from the crucial meeting. Commerce secretary Rita Teaotia has said that even though the contours of what is there on the negotiating table of the WTO, there are four issues on which India wants to emphasise- continuation of the Doha Development Agenda, special safeguard mechanism, removal of targeted subsidies and reduction in trade distorting subsidies.

E.U., Vietnam complete trade negotiations

BRUSSELS, BELGIUM —The European Commission President Jean-Claude Juncker and the Vietnamese Prime Minister Nguyễn Tấn Dũng announced on Dec. 3 that they had officially concluded negotiations on a Free Trade Agreement (FTA) between the E.U. and Vietnam. The agreement will give the E.U. access to one of Asia's most promising markets. Vietnam is a fast growing economy and became a World Trade Organization (WTO) member in 2007. With its 90,000,000 inhabitants and growing middle class, it arises as an interesting market for E.U. exporters.

China Unlikely to Join US-Led TPP, Says EIU Report

Despite slowing growth, China will expand its influence on the global trading system, favoring bilateral exchanges and its own international institutions over the Trans-Pacific Partnership and the WTO, according to the report "At a Crossroad: What China’s New Economic Diplomacy Means for Business," conducted by the Economist Intelligence Unit.

Sponsored by Standard Chartered Bank, the report is based on interviews with professionals in academia, industry and trade organizations, and examines how China’s global economic influence will shape international trade.

India's ambitious US$900bn export target at risk

India's big dream of doubling exports of goods and services and achieving an ambitious target of $900 billion by financial year 2020 is at risk, thanks to a global economic slowdown, structural challenges of the global trade and infrastructure issues in the domestic economy. India's exports hit the $470 billion in financial year 2015 but this year the slowdown in global demand scenario and a dip in prices of petroleum products have dented external trade volumes.

Working towards continental free trade

#Focac: Intra-Africa trade accounts for 16 percent of Africa’s global trade compared with about 40 percent in North America and about 60 percent in Western Europe. Africa remains economically fragmented with 54 small markets.

WTO report finds no acceleration in trade restrictions but slow pace for barrier removal

WTO members have continued to show some restraint in introducing new trade-restrictive measures and have also adopted a record number of trade facilitation measures during the period of October 2014 to October 2015 according to the Director-General’s annual report on trade-related developments. However, the report, which was discussed at the 9 December meeting of the Trade Policy Review Body (TPRB), raises concerns over the increase in the stockpile of trade-restrictive measures recorded since 2008.

TPP Leaders Push for Swift Ratification of Trade Deal Following Manila Meet

Leaders from the 12 Trans-Pacific Partnership (TPP) countries met on Wednesday in the Philippines to discuss next steps in implementing the trade pact, pushing for its swift approval while highlighting the interest of potential new entrants from the Asia-Pacific region.

The Americas at APEC: Three Points on the Manila Leaders' Summit

Manila plays host this week to global leaders, including U.S. President Barack Obama, for the Asia-Pacific Economic Cooperation summit. The 21-member group accounts for roughly 57 percent of global GDP and 47 percent of worldwide trade. COA Vice President Eric Farnsworth provides an overview of summit priorities, how it relates to the Trans-Pacific Partnership, and Latin America’s role.

Australia Signs Landmark Trade Agreement with China

The China - Australia Free Trade Agreement (ChAFTA) was signed on 17 June 2015, and the implementing legislation for the proposed ChAFTA was introduced into the Australian Parliament on 16 September 2015.

Turkey FTA to take effect after four years of talks

ANKARA: The Malaysia-Turkey Free Trade Agreement (MTFTA) will come into effect on Aug 1, after almost four years of intense negotiations between the two countries that began in May 2010.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said in a statement that both countries would eliminate and bind duties on 70% of the tariff lines upon entry into force of FTA.

After a period of eight years, duties will be reduced/eliminated for almost 86% of tariff lines,” he said.

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