Nigeria, Australia Reach Trade Agreement
This Day Live (Nigeria), 28 October, 2011
Nigeria and Australia yesterday sealed a deal to mechanise agreements reached on the business front with the setting up of an Nigeria-Australia Trade and Investment Council to identify and further areas of economic cooperation and interests between them. The announcement, which came from President Goodluck Jonathan and the Australian Prime Minister, Ms. Julia Gillard, after a series of meetings in Perth, Australia, said the Council would focus on the areas of energy, mining, agriculture and financial services, among others. More…
Parties Fail to Reach Agreement on Lee’s National Assembly Address on KORUS FTA
Arirang (Korea), 25 October 2011
Korea’s main opposition party rejected the idea of inviting President Lee Myung-bak to address the National Assembly on the pending Korea-US Free Trade Agreement. National Assembly Speaker Park Hee-tae made the proposal on Monday saying, President Lee could use the address to persuade opposition lawmakers to ratify the deal. More…
S. Korea, Indonesia agree to seek free trade deal
Yonhap News Agency, 24 October 2011
South Korea and Indonesia agreed to significantly boost their economic ties, a move that will include the signing of a free trade deal at an early date, the Seoul government said Monday. The countries have also agreed to seek what they called joint “mega projects” that will symbolize their economic cooperation and Seoul’s support for the economic development of the Southeast Asian country, according to the Ministry of Knowledge Economy. More…
Trade among Gulf Arab states expected to surge by 14 percent: officials
Al Arabiya News, 23 October 2011, Martina Fuchs and Stanley Carvalho (Reuters Abu Dhabi)
Trade among Gulf Arab oil producing countries is expected to grow around 14 percent in 2011 recovering from a contraction two years ago at the height of the global financial downturn, two officials said on Sunday. “There was a contraction in trade in 2009, but now we are projecting it will reach over $90 billion in 2011,”Abdel Aziz Abu Hamad Aluwaisheg, director general for international economic relations at the Gulf Cooperation Council (GCC) Secretariat General, told Reuters. More…
President Zardari, King Abdullah for early conclusion of Pak-Jordan FTA
Associated Press of Pakistan, 22 October 2011
President Asif Ali Zardari and King Abdullah of Jordan on Saturday called for an early conclusion of a Free Trade Agreement (FTA) and holding of the second round of talks soon for this purpose. The two leaders, who met here on the sidelines of the World Economic Forum, discussed bilateral relations as well as regional situation. More…
Pacific nations eye ‘stepping-stone’ trade deal
The China Post, 19 October, 2011
The United States and eight other Pacific countries hope to announce the crux of a major trade deal at an Asia-Pacific summit next month, officials said Monday, a step toward an elusive APEC-wide accord. More…
Ukraine may turn to Customs Union if EU talks fail – minister
RIA Novosti (The Russian Federation), 18 October, 2011
Ukraine may move closer to the Customs Union of Russia, Belarus and Kazakhstan if the European Union blocks its association agreement with Kiev, Ukraine’s Social Policy Minister Serhiy Tyhypko said. More…
ASEAN prepares framework of principles for Asia-Pacific wide FTA
The Mainichi Daily News (Japan), 17 October, 2011
The Association of Southeast Asian Nations has prepared a framework of general principles to steer the establishment of an Asia-Pacific free trade agreement. The “ASEAN Framework for a Comprehensive Regional Economic Partnership” was discussed by ASEAN trade ministers at a one-day informal meeting in Kuala Lumpur on Saturday for adoption by leaders of the 10-member group at their summit meeting in Bali next month. More…
Comprehensive PJEPA FTA review pushed
Manila Bulletin, 17 October, 2011
The Philippines is expected to call for a comprehensive review of its free trade agreement with Japan to put the country in a better position, but such move should not be in conflict with Japan’s stance that the review should only focus on further liberalizing this bilateral trade agreement. An industry official said this as the government prepares its position for the December review of the Philippines Japan Economic Partnership Agreement (PJEPA). More…
OECD welcomes progress on three U.S. trade deals
Xinhua, Shanghai Daily, 15 October, 2011
The Organization for Economic Cooperation and Development (OECD) welcomed on Friday the approval by the U. S. Congress of three trade agreements with Republic of Korea (ROK), Colombia and Panama. More…
Colombia to reap rewards of free trade agreement with United States
The China Post, 15 October, 2011
Relieved after five years of waiting, Colombia celebrated U.S. approval of a free trade agreement the government said should boost the Andean nation’s investment prospects, cut violence against union leaders and create jobs. The pact — which was stuck in the U.S. Congress since 2006 before passage on Wednesday — may help triple Colombian exports to the United States to US$50 billion over five years and create 300,000 jobs, Colombian Trade Minister Sergio Diaz-Granados said. More…
US-Korea free trade pact to impact Taiwan: economic officials
Want China Times daily newsletter, 14 October, 2011
Economic officials said Thursday that a free trade agreement approved a day earlier between the United States and South Korea will have an impact on local companies to the tune of around US$11.84 billion per year. The Bureau of Foreign Trade said the US-Korea pact will influence 34.1% of all Taiwan-made products exported to the US every year. More…
India, Vietnam sign deal to deepen energy cooperation
Livemint.com and Wall Street Journal, 13 October, 2011
Ignoring Chinese objections to India-Vietnamese energy cooperation in the disputed South China Sea, India and Vietnam on Wednesday signed a pact to expand their partnership in oil and gas exploration, refining, transportation and supply. The pact was one of the six signed in the presence of Prime Minister Manmohan Singh and visiting Vietnamese President Truong Tan Sang in New Delhi. More…
Key US Senate Panel Approves KORUS FTA
Arirang News (Korea), 12 October, 2011
The United States Senate Committee on Finance has approved the free trade agreements with Korea, Colombia and Panama, paving the way for their final approval. The panel cleared the Korea and Panama deals unanimously and the Columbia deal in a vote of 18 for and 6 against. More…
Billions in balance if trade pact fails
The Namibian, 11 October, 2011
Namibia will have to pay more than half a billion dollars in duties if the country has not signed the economic partnership agreement (EPA) with the European Union (EU) by January 2014. The EU recently adopted a proposal to stop Namibia from enjoying duty- and quota-free access to its markets if the country refuses to commit to the controversial trade pact by then. The European Council still has to approve the proposal. More…
Noda says Japan must decide soon on trans-Pacific trade agreement
Japan Today, 11 October, 2011
Prime Minister Yoshihiko Noda said Monday that he hopes to make a decision soon on whether Japan will participate in a future trans-Pacific trade agreement. The prime minister made the comments during a visit to a farming village in Gunma Prefecture where he inspected a rice paddy, operated a rice harvester and bought vegetables at a supermarket. More…
Swiss seek improved trade with Brazil and Chile
Swissinfo.ch, 10 October, 2011
Economics Minister Johann Schneider-Ammann is keen to demonstrate that Switzerland’s foreign trade strategy for emerging markets is not just empty talk. After visits to India and Russia in the first half of 2011, he is off to Brazil and Chile this week accompanied by a large business delegation. More…
PNG and Solomon Islands Seek Greater Economic Integration
Solomon Times, 10 October, 2011
Papua New Guinea and the Solomon Islands are championing moves for greater integration of the economies of the Melanesian Spearhead Group of countries. PNG Prime Minister Peter O’Neill and Prime Minister Danny Phillip met in Port Moresby on Thursday and signed a joint communique’ to remove all economic barriers and imposition of work permit requirements, labour mobility and trade restrictions, including tariffs, between the two nations. More…
President Jonathan calls for peaceful coexistence amongst ECOWAS states
Nigeriafirst.org, 09 October, 2011
President Goodluck Ebele Jonathan has stressed the need for peaceful and harmonious co-existence amongst member states of ECOWAS so as to allow the people ply their trade within the region without undue hindrances imposed by states and their agencies. He said the region must use the state as an agent of change, development and progress to meet the yearnings of the people, their integration, commerce and free movement of goods and services. More…
BOFT warns about local impact of US-South Korea FTA
Taipei Times, 09 October, 2011
Taiwanese industries must prepare themselves for the impact of an upcoming free-trade agreement (FTA) between the US and South Korea, which might hurt local business opportunities in the US market, the Bureau of Foreign Trade (BOFT) said. More…
Canada says EU Free-Trade talks at “Advanced” stage, deal in offing
The Wall Street Journal, 06 October, 2011
Canada’s chief negotiator on a free-trade deal with the European Union said Thursday talks are at an “advanced” stage and there’s no reason an agreement can’t be reached by early next year. “There is a lot of momentum behind these negotiations,” Steve Verheul told Canadian legislators before a parliamentary committee, adding they are in “advanced” stages in terms of the text of the agreement. More…
Obama sends three trade deals to Congress
FOCUS News Agency, 04 October, 2011
US President Barack Obama on Monday sent long-stalled free trade deals with Colombia, Panama and South Korea to the congress and pressed lawmakers there to approve them “without delay,” AFP reported. “These agreements will support tens of thousands of jobs across the country for workers making products stamped with three proud words: Made in America,” Obama said in a statement. More…
EU remains interested in FTA
Manila Bulletin, 03 October, 2011
The European Union continues to seek a free trade agreement with the Philippines as it is seen to be the key in increasing foreign investments into the Philippines, including the green and renewable energy sector. During the membership meeting of the Filipino-Chinese General Chamber of Commerce Inc., head of the EU delegation to the Philippines Ambassador Guy Ledoux said though that getting to an FTA is a lengthy process but, “if the Philippines and the EU sign the free trade agreement, there will be a big boost in foreign investment for the Philippines.” More…
Malaysia looks to sign FTA with European Free Trade Association
The Star, 01 October, 2011
The Government is doing feasibility studies to see whether it could embark on a free trade agreement (FTA) with the European Free Trade Association (EFTA) by mid next year, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed. The EFTA consists of Norway, Liechtenstein, Iceland and Switzerland. More…