finance | banking | taxes
The US will push Korea for further negotiations on resuming imports of US beef with parts attached to the bone included, an official with the US Embassy in Korea said Wednesday. This January, the Korean government partly lifted the ban to ease the way for free-trade talks.
The GCC-India free trade agreement (FTA) will open over a billion consumers’ market for the Gulf countries.
Talks to open up market access for the insurance sector within the framework of the Thai-US Free Trade Area (FTA) agreement ended here today with the only agreement - that each side would scrutinise the other’s list of demand for further consultations.
After the sixth round of free-trade negotiations with the United States drew to a close yesterday, the Bank of Thailand said that Bangkok would continue to push for a gradual opening of its financial sector rather than within three years as the US has proposed.
The government should build a financial architecture before establishing a free trade area (FTA) between Thailand and the United States, according to leading financiers.
Services and financial sectors, left aside in early rounds of talks on a US-Thailand free trade agreement, will be put on the table during the sixth round next week, a Thai negotiator said on Friday.
Thai finance officials will for the first time make an offer to open up the country’s financial services, which should make or break the proposed Thai-US free-trade agreement (FTA) during talks next week, says a Thai finance source.
Australia will urge the US to prise open its lucrative sugar markets as part of a fresh push to improve access for farmers under the free trade deal. The Howard Government’s renewed attempt to secure a better deal from the free trade agreement came as Acting Prime Minister Mark Vaile defended lopsided results from the first year of the pact.
National Merchants and Entrepreneurs Federation president Antonio Cruz assured today that there is generalized disarray throughout the Dominican Republic with initial implementation of the tax reform, and requested the government to reconsider enforcing it as of next July when CAFTA comes into effect.
The Customs Department’s tax targets are expected to fall next year, due to Free Trade Area dealings between Thailand and a number of foreign countries.
The latest round of bilateral free trade negotiations between Thailand and the United States in London hit a serious snag over how much to liberalise the sensitive finance sector, one of the negotiators said.
Dr. Narongchai Akraseranee, chairman of the Working Group on FTA Negotiations, reaffirms that Thailand will not speed up the opening of its financial sector because domestic players are not ready for such competition. The Working Group is also concerned about possible capital outflows once liberalisation frees up deposit transactions.
Thailand is unlikely to gain much benefit from service sector liberalisation in a free trade area (FTA) agreement with the United States, a Thai trade negotiator says as the talks reach their halfway point.
The nation’s top central banker Monday stressed the need for speeding up the formation of free trade agreements (FTAs) among Korea, China and Japan, to boost regional cooperation and mutual investment.
Thai Commerce Minister Somkid Jatusripitak said yesterday that proposed amendments to the Alien Business Act would not be presented to the Cabinet today, apparently because of growing public resentment about further opening up the country to foreign investors.
Thai negotiators could ultimately be forced to accept a "negative list" approach in negotiating the Thailand-US free trade area agreement, according to Pongpanu Svetarunvra, deputy director-general of the Fiscal Policy Office. Under a negative list approach, all sectors and services will be liberalised except for those explicitly stated in the agreement.
Local financial institutions need to adjust themselves to resist possible business seizure by foreign investors in a wake of the liberalization of trade with many countries in the world, according to a top banker.
Ambassador Nitya Pibulsonggram, the chief negotiator for the Thailand-US Free Trade Agreement, spoke to AMCHAM members on May 25, 2005 about the importance of the FTA to Thailand.
In a recent round table discussion sponsored by the Philippine Institute for Development Studies, the service industries - specifically the telecommunication and the finance sectors - were tackled as two of the crucial areas where the Philippines can have the best potential if the FTA agreement with the US pushes through.
Colombia’s government on Friday praised the latest round of talks on establishing a free trade area that would also include the US, Ecuador and Peru, saying a final deal could be reached by November.