Korea’s trade deficit with a four-European nation economic block has surged by four-fold since the signing of a free trade agreement three years ago, with its imports growing at a much faster pace than exports.
The deal with EFTA is likely to be signed by the end of this year. The free trade agreement with the EU could be concluded in 2010.
Instead of stopping the West and multinational drugmakers in their efforts to block India’s low-cost generic drugs exports, the government is helping their cause by aggressively pursuing free trade agreements (FTAs) with developed economies — agreements that could further hamper the world’s access to such drugs.
GCC Secretary-General Abdulrahman bin Hamad Al Attiyah has announced that the Gulf Cooperation Council will sign a joint free trade agreement with the EFTA states, Switzerland Iceland, Norway and Liechtenstein later this month. Both parties agreed the text of the agreement on April 24, 2008 and have now signalled they wish the agreement to enter into force.
Citing “serious and systematic” human rights violations in Colombia, 33 non-governmental organizations led by Alliance Sud, the Berne Declaration and the Swiss Working Group on Colombia sent a letter 12 May to deputies urging them not to ratify the trade agreement between the European Free Trade Association (EFTA), of which Switzerland is a member, and Colombia.
Norway has resigned from the EFTA negotiations on intellectual property rights. The sole EFTA cooperation may now be in danger. “We have chosen to pull out of the negotiations. We have a different policy than the other EFTA countries in this area. This has not been problematic so far, but differences have crystallized during the negotiations with India”, says State Secretary Rikke Lind, Norway Ministry of Trade and Industry, to the New Time.
EFTA FTAs negotiations have taken a complicated turn, with Norway withdrawing from talks on intellectual property, which is a serious priority for Switzerland. In addition, Norway deferred the submission for ratification by the Norwegian Parliament of the FTA with Colombia, an act seen by many as a move on the part of the Norwegians to renegotiate many terms within the agreement.
The Colombian government sent key bills to Congress Wednesday, seeking its approval of free trade agreements with Canada and the European Free Trade Association, or EFTA, the Ministry of Commerce said.
Peter Stoffer hopes to turn the tide on a controversial free trade agreement that could sink shipbuilding in Canada.
Trade unions, people’s movements and civil society organisations express opposition to the lack of transparency, public debate and democratic process surrounding the ongoing negotiations of the Free Trade Agreement between India and the European Free Trade Association, composed of Lichtenstein, Iceland, Norway and Switzerland
Malaysia is exploring a framework for cooperation in trade and investment with the European Free Trade Area (EFTA), International Trade and Industry Minister Tan Sri Muhyiddin Yassin said today.
The proposed trade and investment agreement between India and the European Free Trade Association (EFTA) - including Switzerland, Norway, Iceland and Liechtenstein - is likely to be in place by the middle of next year. Swiss ambassador to India Dominique Dreyer said that the pact will give a big boost to trade and investment between the two sides. Relaxation of business visa norms, however, may not be on the cards as Switzerland would merge its visa system with other Schengen countries by the end of the year and hence will not be able to take decisions independently, the ambassador said.
When Canada concluded free trade talks with Colombia in June, the announcement came in the form of a release on a Saturday. But burying news of the deal on a weekend hasn’t stopped a storm of protest. In Ottawa, the opposition blasted the government for reaching an FTA (whose ratification will likely take months) without waiting for an assessment report from the Commons trade committee, whose members recently travelled to Colombia - a country that has been plagued by drug trafficking, paramilitary death squads and other forms of strife.
The European Free Trade Association and Hong Kong are keen to establish a free trade agreement with Malaysia.
Ministers from the four-nation European economic grouping EFTA agreed on Monday to extend their network of free-trade and investment pacts to India and key Southeast Asian countries.
The EFTA States (Iceland, Liechtenstein, Norway and Switzerland) and Colombia on 12 June 2008 finalized negotiations on a comprehensive Free Trade Agreement (FTA).
A free trade agreement between the GCC and the European Free Trade Association could be signed by the end of 2008, the official Saudi Press Agency reported on Monday.
A leading UN Committee has recommended that India review all aspects of its trade negotiations - particularly those with EU and EFTA - to ensure that they do not result in a situation which undermines the rights of people within the country, particularly the most disadvantaged and vulnerable. Meeting last month in Geneva, the Committee also noted its concern about the impact of genetically-modified seeds in India on farmers’ livelihoods.
Algeria is working on signing free trade agreements with the West African Economic and Monetary Union (UEMOA) countries, the union said in a statement Monday.
Canada’s government introduced legislation today to implement a free-trade accord with the four-nation European Free Trade Association.