Ecuador’s ambassador to Washington return to Quito for consultations on how to overcome an impasse with US free trade negotiators over an oil-tax bill designed to cut into foreign windfall crude profits.
The Ecuadorean government plans to send a formal request this week to the U.S. government to resume free trade talks between the two nations, the country’s top trade negotiator said Tuesday.
New legislation designed to increase the state’s share of windfall oil revenues by some $600m a year is set to derail Ecuador’s plans to negotiate a trade deal with the US, according to government officials.
The Ecuadorian government hopes to have the next round of FTA negotiations on May 8 in Washington — if it manages to pass an amendment bill to the Hydrocarbons Law. But the legislation is being staunchly opposed by private oil firms.
Japan and Saudi Arabia agreed Thursday to launch negotiations on concluding a free trade agreement between Japan and the Gulf Cooperation Council, which consists of six oil producers in the Middle East including Saudi Arabia, Japanese officials said.
The Ecuadorian government declared a state of emergency on Tuesday, March 21 after countrywide protests and roadblocks led by indigenous peasants intensified.
Ecuador’s state oil company Petroecuador has rejected US oil company Occidental’s offer to pay US$1bn to end a legal dispute between the two.
US Senators Patrick Leahy and Barack Obama have written to the US Trade Representative urging that he ignore Chevron’s campaign to exclude Ecuador from FTA negotiations until the Ecuadorian government shuts down a historic environmental lawsuit against the company.
University students are taking to the streets Wednesday to demand expiration of the contract with Oxy US oil company and spurn the Free Trade Agreement (FTA) with Washington.
The US hopes to see during this year the beginning of the process to sign a Free Trade Agreement (FTA) with Qatar, Ambassador Chase Untermeyer told a press conference on Thursday.
China wants closer ties with Saudi Arabia and other Arab states, and is working toward a free-trade agreement with countries in the region, according to Premier Wen Jiabao.
Bolivian President Evo Morales used his inaugural address Sunday to renew his pledge to nationalize the country’s vast natural gas reserves, but said he’s open to the idea of a large US-sponsored trade zone he harshly criticized last year during his campaign.
On 5 August 2005, the E3/EU passed to Iran a "Framework for a Long-term Agreement". Under it, the E3/EU would work for an early conclusion of negotiations on a draft EU/Iran Trade & Co-operation Agreement.
The European Union and the GCC wound up talks on a long stalled free trade deal yesterday without agreement on opening up the region’s lucrative services sector.
South African exporters will now have more access to Kuwait’s market after trade and industry minister Mandisi Mpahlwa yesterday signed a free trade agreement with the oil-rich Middle East country. The deal with Kuwait was concluded a day after Mpahlwa signed a free trade agreement with the United Arab Emirates (UAE), also an oil producer.
Southeast Asian economic ministers knuckled down here Wednesday to thrash out free trade agreements (FTA), with historically high oil prices intensifying calls for greater regional cooperation.
Pakistan agreed on Sunday to eventually sign a free trade agreement (FTA) with Russia, as Prime Minister Shaukat Aziz is set to visit the country soon.
China’s sustained growth will depend on how well it manages its political and trade relationships. Acquiring concessions and investing directly in natural-resource-based projects in Indonesia makes a great deal of sense for China.
Australian Prime Minister John Howard has held talks with officials from the United Arab Emirates on another Free Trade Agreement. The UAE has the world’s 3rd largest oil reserves.
China is in discussions with the Gulf Cooperation Council to establish a free trade agreement (FTA) which is expected to take effect this year. The GCC member states hold 45 percent of the world’s oil reserves and account for 20 percent of oil production, and an FTA would help China shore up its energy supplies.