WTO News
US, EU Consider Launching Bilateral Trade Talks
Bilateral trade talks between the US and EU could soon be on the horizon, with leaders from both sides agreeing on 28 November 2011 to establish a joint working group to examine this and other options for promoting growth in their respective economies. US President Barack Obama, European Commission President José Manuel Barroso, and EU Council President Herman Van Rompuy, after meeting in Washington...
Read More...Minister welcomes Indonesia's entry into regional trade group
Trade Minister Craig Emerson today welcomed the entry into force for Indonesia of the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), hailing it a milestone in the relationship between the two countries. The move means the proportion of Australia's current merchandise exports eventually entering Indonesia tariff-free will rise from 56 per cent to 92 per cent. Another 5 per cent of Australian...
Read More...Subsidies Committee focuses on improving notifications
The Committee on Subsidies and Countervailing Measures, on 26-27 October 2011, focused on encouraging more WTO members to notify their subsidy programs, and on improving the timeliness and completeness of notifications. It decided to extend the transition period for the elimination of export subsidy programs of 19 developing countries. The Chair, Mr. Andreas Krallmann (Germany), expressed serious...
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The International Citibank Group has issued a report on whether or not trade relations between Asia and the Middle East will decline in view of the recent developments in the latter region. The report revealed that trade in goods between the two regions has increased in the previous decade, growing by 700% from 2000 – 2010. It also stated that trade and economic links between the two regions are...
Read More...Director-General Pascal Lamy, in a speech at the African Union summit on 29 January 2012 in Addis Ababa, Ethiopia, said that “there is absolutely no contradiction between accelerating regional integration and deepening the multilateral trading system.” This is what he said: It will surprise no one to say that as we enter 2012, the global economy remains steeped in uncertainty and very much in...
Read More...The US Congress approved on 12 Oct. 2011free trade agreements with South Korea, Colombia and Panama, ending a four-year drought in the forming of new trade partnerships and giving the White House and Capitol Hill the opportunity to show they can work together to stimulate the economy and put people back to work. In rapid succession, the House of Representatives and Senate voted on the three trade...
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