Nations blame each other for the collapse in world trade talks [ Septembert 26, 2007 ]
There has been a setback in the Doha round of trade talks. Trade leaders from the European Union, US, India and Brazil were negotiating in Germany to secure a new global trade deal by seeking concessions on agriculture.
Sacred Prayer for the planet RSE collaboration [ Septembert 19, 2007 ]
The beginning of the week saw the religious leaders of Christian,Jewish and Islamic faith coming together to pray for our planet in Greenland. The much needed partcipation from RSE ie,Religion,Sciene and Environment came at a time where global Environmental concerns are overshadowing religious fervor and sheer scientific pursuits.
Will the Geneva outcome be ominous to African cotton growers? [ Septembert 18, 2007 ]
The government ministers belonging to West Africa's biggest cotton producing countries met in Burkina Faso to plan out their demands on reduced subsidies. This will be followed by the trade negotiators meet to be held in Geneva to further the negotiations that had suffered a serious standoff at Doha round trade talks.
Global Trade Talks are Necessary [ August 20, 2007 ]
Concluding the Doha round of global trade talks is not only possible, but is also necessary. This is the recent statement of World Trade Organization (WTO) Secretary-General Pascal Lamy regarding the possibility of reviving the said global trade meetings.
Plea to make Aussies NZ apple importers sparks debate [ August 16, 2007 ]
The National Farmers Federation's (NFF) plea to the Federal Government to finalize the deal that will put Australia as one of the top importers of New Zealand apples has earned the ire of several apple growers. The farming group's action sparked a debate whether it is logical for the Australian government to enter the high stakes transaction.
US asks WTO for action on China's international trade piracy [ August 15, 2007 ]
The United States trade office filed a request for a negotiation addressed to the World Trade Organization (WTO) on Monday to put a halt on the thriving copyright piracy in China. The request was made after the United States claimed that last June's bilateral talks with China about its lenient anti-piracy policies and weak course of action against counterfeiting has failed.
Australian Exporters Gain Access to Taiwan Market [ July 17, 2007 ]
The agriculture sector of Australia, particularly the rice producers and exporters, is now beginning to harvest the fruit of their World Trade Organization (WTO) trade accord. For nearly half a decade of waiting and exerting effort through the WTO, Australian exporters can now annually ship and sell over 18,000 tons of rice products to Taiwan market. The WTO agreement assigns Australian farmers with a certain maximum product allocation (quota) in each country and an opportunity to enter the market for a long period of time.
US Firms Lobby For Global Trade Deal With South Korea [ June 21, 2007 ]
Business firms in the United States will lobby for the approval in Congress of a recent global trade deal that the US sealed with South Korea after 10 months of discussion. The business groups, including lending institutions, insurance providers, meat exporters, and high-tech companies, vowed to persuade doubting legislators that the deal is worthy of approval. The global trade pact is due for signing on June 30 but the US Congress is scheduled to put in on the floor until the fall. However, the firms are quite optimistic that the agreement will be eventually signed.
US Exports Reduce International Trade Deficit [ June 15, 2007 ]
The high clamor for US exports provided boost to the rising international trade deficit of the United States. Recent figures reflected a decrease in the international trade gap of the US, thus, prompting economists to modify their predictions for the second quarter. This sends a strong message that the United States is getting back on its feet in terms of its economy.
China Lashes Back At The US For International Trade Bill [ June 14, 2007 ]
International trade relations between the US and China could be strained even further as soon as the proposed legislative measure gets the nod of the US Senate. Chinese officials warned that even if the trade legislation is passed, they will not ease up on their stand regarding their yuan situation. The US Senate is set to launch a landmark bill addressing their increasing international trade deficit with China.
China Receives Pressure from the US to Restore Balance in the International Trade [ May 30, 2007 ]
As the United States and China bring international trade issues on the table, the latter is admonished to do the necessary moves to accelerate the reform on policies to immediately restore economic balance. The US made its point at the start of the recent meeting in Washington by saying that China should attend to the insistent, repetitive, and continuing lack of balance in the monetary and international trade condition. US companies have blamed China for bringing threat to jobs in America by doing inordinate efforts to lower yuan, which in turn increases China's exports.
Asian and Russian Importers Open Doors for US Beef [ May 29, 2007 ]
After more than three years of being banned, the selling of US beef to importers, especially to Japan and Russia, is finally expected to push through before this year ends. US beef, however, has to be proven mad cow disease-free so that importers can make sure of its quality.
Bush and Hu Tackle International Trade Issues [ May 23, 2007 ]
The United States and South Korea struggled to resolve differences over certain international trade issues last Monday as they started the final phase of their negotiations concerning a proposed free trade agreement (FTA). Although the two countries completed the final round of their FTA talks, they still decided to hold further discussions in order to settle their disputes regarding some international trade issues. US Deputy Trade Representative Wendy Cutler and her South Korean trade negotiator Kim John-hoon recently met in Washington in order to talk about sensitive issues like textiles, pharmaceuticals, agriculture, and automobiles.
Uribe Seeks Support of US Congress on International Trade Pact [ May 19, 2007
Colombian President Alvaro Uribe has sought the support of the US Congress concerning the proposed free trade agreement between his country and the US. It must be noted that Mr. Uribe's efforts to persuade the US Congress to approve the international trade deal have been backed by President George W. Bush. The Colombian leader is the staunchest ally of Mr. Bush in Latin America. The proposed international trade pact has been aimed at boosting the economic and international trade ties between the United States and Colombia. ]
US-South Korea International Trade on Beef Resumes [ May 09, 2007 ]
A 6.4 ton shipment of US beef arrived in South Korea early last week, thus putting to test South Korea's commitment to open its market to US meat particularly beef. It must be noted that beef was among the key issues that affected the free trade agreement (FTA) talks between the United States and South Korea during that past months. Although beef was not officially included in the proposed international trade deal, the fact that South Korea rejected the first of US beef exports last year affected the progress of the FTA talks between the two countries. The US Congress also threatened not to approve the proposed international trade pact if South Korea fails to ease its restrictions on US beef products.
US to Expand International Trade with Japan on Beef [ May 07, 2007 ]
The US Agriculture Department recently said that the government would allow Japan to inspect beef plants in the US in a move to boost the country's international trade with Japan, particularly on beef. Agriculture Secretary Mike Johanns stated that the inspection of the processing plants would start as soon as possible. According to him, the Japanese government would remove its requirement of inspecting 100% of the US beef shipments once the verification process is completed. The move is considered as vital to the improvement of international trade between the two countries in terms of beef.
US-South Korea International Trade Deal Faces Hurdles in Congress [ April 17, 2007 ]
The United States and South Korea finally reached a free trade agreement (FTA) after months of negotiations. It must be noted that the two countries struggled to settle their differences and come up with an international trade deal before the deadline, which is the expiration of President George W. Bush's trade promotion authority (TPA). Although the TPA is due to end in July, the two countries needed to close an international trade pact 90 days before the expiration. But despite the success of trade negotiators from both sides, the proposed FTA is expected to face certain hurdles in the US Congress.
US Files Piracy Complaint against China at Global Trade Body [ April 16, 2007 ]
The United States is to seek legal action against China at the World Trade Organization (WTO) regarding the growing problem of counterfeiting and intellectual property rights violation in the country. According to a spokeswoman, the US is preparing the case in order to tackle the failure of the Chinese government to enforce anti-piracy laws. Piracy has long been a global trade issue that has affected China's trade relations with major partners such as the US. In fact, the US government has never ceased in urging China to intensify its anti-piracy campaign. The US is reported to have drafted a piracy complaint against China last year. But the government decided not to bring the matter to the global trade organization with the hope of settling it through bilateral talks with China.
US Reveals Plan to Cut Fishing Subsidies in Global Trade Talks [ March 31, 2007 ]
The United States recently initiated a plan to cut fishing subsidies by more than 50% in the Doha Development Round of Trade Talks. According to US officials, the plan to reduce almost all government subsidies to fishing industries was handed to the World Trade Organization (WTO). US Trade Representative Susan Schwab said that the global trade organization faced a great and historic chance to resolve a serious issue that could distort world trade and destroy the environment. It must be noted that the WTO is currently pushing for the successful conclusion of the global trade talks.
New International Trade Pacts Enslave Poor Nations [ March 30, 2007 ]
Oxfam stated that new international trade deals signed between wealthy and poor nations proved to be damaging rather than helpful to the economic improvement of poor nations. Emily Jones, who is the author of the Oxfam report called "Signing Away the Future," said that poor nations were being forced to make deep cuts in their import tariffs. She added that these duties were often reduced to zero under some free trade pacts that were signed between industrialized and poor nations. Under such international trade agreements, developing countries are forced to open up their markets to subsidized farm goods.
US and South Korea Start Final Stage of International Trade Talks
[ March 23, 2007 ]
The United States and South Korea struggled to resolve differences over certain international trade issues last Monday as they started the final phase of their negotiations concerning a proposed free trade agreement (FTA). Although the two countries completed the final round of their FTA talks, they still decided to hold further discussions in order to settle their disputes regarding some international trade issues. US Deputy Trade Representative Wendy Cutler and her South Korean trade negotiator Kim John-hoon recently met in Washington in order to talk about sensitive issues like textiles, pharmaceuticals, agriculture, and automobiles.
US to Negotiate International Trade Deal with Vietnam [ March 22, 2007 ]
The United States announced last Monday that it would launch a series of international trade talks with Vietnam that could result in a free trade agreement (FTA) with the Asian nation. The Office of the US Trade Representative announced the start of negotiations concerning a TIFA (trade and investment framework agreement) three days after US Trade Representative Susan Schwab met with Vietnamese Deputy Prime Minister Pham Gia Khiem in Washington. It must be noted that Mr. Keim is also the current foreign minister of Vietnam. Such kind of international trade deal can possibly lead to an FTA between the two countries.
US-Colombia International Trade Agreement Faces Opposition [ March 21, 2007 ]
The proposed international trade deal between the United States and Colombia faces a strong opposition from the biggest labor group in the US. According to the organization, the US Congress should not approve the international trade pact between the two countries despite the reforms made in the labor policies under the free trade deal. In an official letter sent to the US Senate and House of Representatives this last week, the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) said that no renegotiation regarding the US-Colombia free trade agreement would adequately resolve violence against members of trade unions in the Latin American nation.
US Exports Lower Deficit in International Trade [ March 14, 2007 ]
US exports have significantly improved, thus contributing to the decrease of the country's deficit in terms of international trade. According to reports, the gap between exported and imported products dropped down to $59 billion last January. It must be noted that last December 2006, the deficit had recorded a rate of $61.5 billion. Needless to say, the US' international trade gap with China continues to increase. Based on reports, the trade gap climbed by 12% to 21.3 billion.
US and South Korea Try to Finish International Trade Talks before Deadline
[ March 13, 2007 ]
The United States and South Korea are currently in the last round of their FTA (free trade agreement) talks. Both parties are trying to cut an international trade pact before the Bush administration loses its authority to negotiate fast-track trade agreements with other countries. The final round of the FTA negotiations began on Thursday last week. Since the international trade discussions started, the US and South Korea have agreed to improve their anti-trust and customs policies. Needless to say, automobiles and agriculture remain as major issues affecting the progress of the FTA talks between the two countries.
US, EU, Brazil, and India Work to Restart Global Trade Talks [ March 8, 2007 ]
The Doha Development Round of Trade Talks is gaining momentum with the increased efforts of key players to revive it. In fact, the United States, the European Union, Brazil, and India launched another round of bilateral negotiations on Friday last week in order to push for the conclusion of the global trade talks. It must be noted that Indian Commerce and Industry Minister Kamal Nath flew to Geneva last Thursday in order to attend the bilateral talks. According to reports, Mr. Nath wanted to meet his Brazilian counterpart Celso Amorim in order to promote the interest of the G20, which is composed of developing countries, in the global trade talks.
Lamy Sees Increased Momentum in Global Trade Negotiations [ March 6, 2007 ]
World Trade Organization Director-General Pascal Lamy said that he saw "good signs" for launching a ministerial conference in order to conclude the global trade talks. But he said that the members of the WTO were not still at that stage since they needed to reach a compromise in the global trade negotiations. The WTO chief made these comments to some agencies during his recent visit to Indonesia.
South Korea Optimistic on Global Trade Negotiations with US [ March 1, 2007 ]
South Korea remains optimistic regarding its on-going global trade negotiations with the United States. Last Monday, South Korea's finance minister stated that his country and the US have established a strong ground for the proposed free trade agreement (FTA) between the two countries. During a meeting, Minister of Finance and Economy Kwon O-Kyu said that the two parties have established a strong ground that would pave the way for the successful conclusion of their global trade negotiations
US Not Ready to Launch Global Trade Talks with Japan [ February 28, 2007 ]
US Deputy Trade Representative Wendy Cutler said on Thursday last week that her country was not ready to launch free trade agreement (FTA) talks with Japan. It must be noted that the US is currently negotiating an FTA with South Korea. According to Ms. Cutler, the US was not ready to make a similar global trade deal with Japan at the moment. Although it was possible for both the US and Japan to close such kind of global trade pact, she said that it would not happen in the coming months.
US and South Korea Race with Time in International Trade Talks [ February 16, 2007 ]
A US official recently said that his country and South Korea are running out of time to complete their free trade agreement (FTA) talks. The two countries launched the international trade talks in June 2006 in a move to deepen their economic alliance. But negotiations regarding certain issues in the pharmaceutical, agricultural, and automotive sectors have not yet progressed. It must be noted that the United States and South Korea started the seventh round of the international trade talks last Sunday. The two parties had just finished the round last Wednesday...
US to Push for Conclusion of Global Trade Talks [ February 15, 2007 ]
The Bush administration recently vowed to increase its efforts to push for the successful conclusion of the Doha Development Round of Trade Talks. At the same time, it discussed several benefits that could be enjoyed by China if the country improved the flexibility of its currency. According to a report concerning the US economy, free and open global trade was important to growing and stable economies. The report also said that the United States would continue to work for the completion of the global trade talks under the World Trade Organization (WTO)...
Malaysia Threatens to Stop Global Trade Talks with US [ February 6, 2007]
Malaysia has recently threatened to stop its FTA (free trade agreement) talks with the United States due to the latter's call for the former to end its development agreement on energy with Iran. It must be noted that a US lawmaker has raised some concerns regarding the energy deal between Malaysia and Iran. Under the global trade pact, Malaysia will develop a number of gas fields in Iran. It will also construct LNG (liquefied natural gas) plants in the Middle East nation. The global trade agreement on energy between the two countries is estimated to be worth $16 billion.
US Files Complaint against China at Global Trade Body [ February 5, 2007 ]
The United States has recently filed a complaint against China at the World Trade Organization (WTO) regarding unfair global trade practices. Particularly, the US has accused China of harming American companies by providing subsidies to its local businesses. According to US Trade Representative Susan Schwab, the Bush administration attempted to resolve the global trade issue bilaterally. But she said that the efforts of the US failed.
Mandelson Confident in Progress of Global Trade Talks [ February 2, 2007 ]
European Union Trade Commissioner Peter Mandelson recently expressed his confidence that the global trade talks would progress considering the on-going efforts of both the industrialized and developing countries to revive the Doha Development Round of Trade Talks. A few days ago, leaders and trade ministers met on the sidelines of the World Economic Forum in Davos, Switzerland in order to talk about ways of salvaging the global trade talks. After the mini-ministerial meeting, Mr. Mandelson, Brazilian Foreign Minister Celso Amorim, and US Trade Representative Susan Schwab went to Geneva where they would attend another conference concerning the Doha negotiations. The Geneva meeting was set by World Trade Organization Director-General Pascal Lamy.
Extension of Bush Trade Negotiating Authority Needed in Global Trade Talks
[ February 1, 2007 ]
The White House has recently called for the Congress to extend the special trade negotiating authority of President George W. Bush amidst the efforts of the World Trade Organization to restart the global trade talks. The move came after a meeting that was attended by trade ministers from more than 30 countries. The mini-ministerial conference was held on the sidelines of the World Economic Conference in Davos, Switzerland in order to discuss the resumption of the global trade talks. Although the ministers did not achieve a significant breakthrough, the meeting served its purpose by boosting the momentum of the WTO talks.
Russia and Belarus Reach International Trade Agreement on Gas [ January 05, 2007 ]
Russia and Belarus recently closed an international trade deal on gas after the former had warned that it would disrupt its supplies if the latter did not agree with the new price. Describing the incident as "unfortunate terms," Belarus stated that it would pay around $100 per 1,000 cubic meters of gas. The amount was below the $105 price asked by Russia. It must be noted that Russia threatened to cut disrupt its gas exports to Belarus if the latter failed to increase its payment. Belarussian Deputy Prime Minister Vladimir Semashko commented that his country was in a difficult situation on the eve of the new year when it signed the international trade pact on gas with Russia.
Thailand Says It Won't Break Global Trade Rules [ January 04, 2007 ]
Thai officials said that their country could proceed with its plans to amend the Foreign Business Act without breaking the policies of the World Trade Organization (WTO). It must be noted that under the Foreign Business Act, both the shareholdings and voting rights would be used in determining whether a business is foreign or not. Chutima Boonyaprapas, who is the current chief of Trade Negotiations Department at the Commerce Ministry, stated that Thailand had the right to make such changes and that the move did not violate any rules of global trade.
Pakistan Seeks UK Assistance on International Trade Talks with EU
[ November 30, 2006 ]
Pakistani Prime Minister Shaukat Aziz recently sought the help of the United Kingdom in launching FTA (free trade agreement) talks with the European Union. It must be noted that Pakistan wants to boost its international trade ties with the European bloc through an increase of bilateral trade deals between the two parties. During a meeting, Mr. Aziz told UK Minister for Trade Ian McCartney that his country was prepared to engage into such kind of international trade pact since it had an open economy. The Pakistani prime minister further said that his nation was ready to effectively implement any FTA with the EU. Pakistani Commerce Minister Humayun Akhtar Khan also attended the meeting with Mr. McCartney.
Emirates-Airbus International Trade Deal Faces Delay [ August 19, 2006 ]
Airline Emirates warned Airbus last week regarding the further prorogation of their international trade deal. According to Emirates, it might reduce the number of its aircraft order if further delays took place during the project. It must be noted that Emirates agreed to purchase 45 A380 superjumbo planes, thus, becoming Airbus's biggest client. The airline company though, faces a 10-month delay in the first shipment of its planes. This is the second time Airbus has announced a delay in the project because of wiring problems.
Kenya to Boost Tea Exports and Seek New Importers [ August 18, 2006 ]
Kenya's Agriculture Minister Kipruto Kirwa said last week that the government would create a special body, which would take charge in promoting the nation's tea exports. According to him, the taskforce would also be responsible in maintaining Kenya's relationship with its current tea buyers, and in looking for potential importers and markets in other regions. Mr. Kirwa said that through the special committee, his office would entertain ideas and suggestions on how to improve Kenya's position in key tea markets and to seek new importers.
Qatari Officials Mum About Dispute Between Cattle Importers and Animal Rights Advocates [ October 16, 2006 ]
Qatari officials had been silent regarding their decision whether to continue importing livestock from Australia. During the past weeks, the officials had found themselves in the middle of a debate between cattle importers and animal rights advocate. Qatar's Ministry of Municipal Affairs was due to release its decision concerning the matter after talking with the PETA (People for the Ethical Treatment of Animals), which showed proofs to the ministry that sheep imports suffered from abuses during and after their shipment from Australia to Qatar. After meeting with Qatar officials, PETA stated that the ministry was considering to halt livestock imports and stop importers from getting supplies from Australia.
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