bilateralism & multilateralism
Many WTO members have expressed support for a China-Taiwan Economic Cooperation Framework Agreement and would be happy to see it happen, says Taiwan’s permanent representative to WTO.
The European Union and Vietnam announced the start of free-trade negotiations Tuesday, signaling a major effort to move ahead in the race to secure new markets despite the failure of the Doha Round of global trade talks.
Brazil mentions the possibility of putting aside the subject of agriculture for the moment, since “the central problem of eliminating agricultural subsidies can only be resolved with a global plan” at the World Trade Organization.
Those who favour a big push for regional integration in Asia now have their day in the sun. They say that the global economic crisis has accelerated the decline of America and the rise of China, India and other emerging powers. Power is shifting inexorably from the West to Asia.
Members of the World Trade Organisation’s (WTO’s) trade policy review committee raised its concern last week over the relatively extensive use of antidumping and other tariff measures by SA on behalf of the Southern African Customs Union (Sacu).
Businesses are becoming less interested in the World Trade Organization’s attempts to forge a global deal as long-standing talks have yet to yield results, a private sector group affiliated with the Asia-Pacific Economic Cooperation warned late last week.
South Africa and the European Union on Friday signed an amended trade, development and co-operation agreement and also pledged to intensify work to bridge gaps preventing conclusion of Doha trade talks.
When the Rubber Bill (intended to amend the Rubber Act, 1947) was presented in Parliament on August 7, the Opposition did not let it through. The reason was, it was presented by Prithviraj Chavan, minister of state for parliamentary affairs, and not any minister of commerce and industry, which is the ministry concerned.
The global crisis has one positive and liberating aspect—policymakers and even once-arrogant neoliberal economists are now openly questioning the wisdom of untrammeled liberalization. The present global recession has abundantly shown that liberalizing the financial and other economic sectors wholesale sans rules is a formula for disaster, be it applied in a developed market economy like the United States or in a small developing economy like Haiti.
Regional trade deals are no substitute for a Doha agreement. Indeed, they are its enemy, writes The Economist
Despite ongoing efforts to blow some life into the comatose Doha Round of WTO talks, it is the bilateral agreements that have emerged as the new messiah for world trade. The past few years have seen every major economy scrambling to sign a raft of free trade agreements, negotiations for which reached a fever-pitch this summer.
The negotiation of a free trade agreement between MERCOSUR and the UE has
become, for Brazil, a greater priority than the trade liberalization
debates at the World Trade Organization (WTO)
Ecuadorean President Rafael Correa said his country won’t keep negotiating a commercial agreement with the European Union until the trade bloc complies with World Trade orders to cut duties on Ecuadorean bananas.
A new TWN report finds that North-South free trade agreements, bilateral investment treaties and World Trade Organization commitments often contain a number of provisions that can increase the likelihood of a financial crisis and make it more difficult to take the necessary measures to deal with one once it occurs.
South Korea is pushing for the G20 countries to support a moratorium on new import tariffs at next month’s meeting, according to President Lee Myung-bak.
The proposed EU-Asean free trade policy on intellectual property rights protection is too sweeping, says a consumer group.
A consumers’ group on Saturday urged the Association of Southeast Asian Nations (Asean) to turn down the EU-Asean free trade policy on intellectual property rights protection which, if ratified, could affect the Asean agriculture, biodiversity and public health access.
Background paper on the ASEAN free trade agreements with special focus on the ASEAN-Australia and New Zealand FTA. Soon to be published in the Philippine Natural Resources Journal of the Legal Rights and Natural Resources Center-Philippines
It was a dizzying roller coaster-year for trade. As the multilateral trade talks faltered, bilateral and regional free trade and economic partnership agreements on the other hand surged, fueled mainly by the aggressive push by the most powerful economies - the US, EU, Japan and China - of their respective brands of commercial diplomacy.
The WTO has launched a new database on regional trade agreements (RTAs). This contains all the relevant documentation received by the WTO following notification by a WTO member that an RTA has been established.