South Africa launches safeguard investigation on certain cold-rolled steel products
WTO, 29 July 2016
On 29 July 2016, South Africa notified the WTO’s Committee on Safeguards that it initiated on 29 July a safeguard investigation on certain cold-rolled steel products. More…
Colombia-Korea FTA enters into Force
The Korea Herald, 18 July 2016
Colombia and Korea marked on Friday their bilateral free trade agreement coming into force, signalling an enhanced level of economic cooperation in the future. The accord, which had been pending congressional ratification in Bogota, is the Latin American country’s first such agreement with an Asian economy. It will serve as a gateway to Asia-Pacific for Colombian firms and a bridge to Latin America for Korean enterprises, according to the Korea International Trade Association. More…
EU-Canada FTA Could Be Signed In October
Tax News, 06 July 2016
The European Commission has formally proposed the signature and conclusion of a free trade agreement between the European Union (EU) and Canada.
The Commission must obtain support from the European Council and European Parliament. Once this process is complete, the agreement can be provisionally applied. The Commission hopes that the agreement will be signed during the next EU-Canada Summit, which will be held in October.
Commission President Jean-Claude Juncker said: “The trade agreement between the EU and Canada is our best and most progressive trade agreement and I want it to enter into force as soon as possible. It provides new opportunities for European companies, while promoting our high standards for the benefit of our citizens. I have looked at the legal arguments and I have listened to heads of state or government and to national parliaments. Now it is time to deliver. The credibility of Europe’s trade policy is at stake.” More…
Trade boosted by five years of EU-Korea Free Trade Agreement
EC Press Release, 01 July 2016
Five years ago today, the Free Trade Agreement (FTA) between the European Union and South Korea was put into place, helping to turn a trade deficit into a trade surplus.
EU exports to South Korea have increased by 55% since the trade deal between the two partners entered into force in 2011, and European companies have saved €2.8 billion in scrapped or discounted customs duties. Bilateral trade in goods between the EU and South Korea has been growing constantly since 2011, and reached a record level of over €90 billion in 2015. More…