The past week has seen a series of regional integration efforts continue among Asia-Pacific economies, including a two-day summit among the signatories of the Trans-Pacific Partnership (TPP) and select other countries in the Chilean city of Viña del Mar, as well as meetings of other groupings on expanding trade and financial ties.
Christine Lagarde, the Managing Director of the International Monetary Fund (IMF), called on G-20 officials preparing to meet in the German city of Baden-Baden later this week to keep the “momentum” in supporting global growth.
The EU and the Association of Southeast Asian Nations (ASEAN) are preparing to examine the prospect of re-launching talks for a region-to-region trade accord, nearly eight years after the original plans for such a project were put on hold.
Vietnam is seeking a trade deal with the United States to replace the Trans-Pacific Partnership (TPP) free trade agreement. Official media in Vietnam say Prime Minister Nguyen Xuan Phuc spoke to a delegation of American business people last week. He told them that he was ready to visit the United States.
On the third day of this presidency, Donald Trump signed an executive order formally withdrawing the U.S. from the Trans-Pacific Partnership (TPP), a trade agreement resulting from over five years of negotiations between 12 Asia-Pacific countries that proponents saw as a way for the U.S. to boost its economic and strategic engagement in Asia. In light of the U.S.
With the U.S. signaling a turn toward protectionism, nations that have benefited from global commerce, from Australia to Japan to Peru, are trying to pick up the free-trade mantle.
Efforts to lay the groundwork for possible negotiations on a bilateral Canada-China trade deal continue underway, with Canadian officials launching a three-month domestic consultations period last week.
Boosting economic ties with the Asia-Pacific region is one of the main items on the EU trade docket this week, as the bloc’s top trade official travels to Singapore and the Philippines for talks on advancing various initiatives.
The framework of rules for global trade has withstood some fearsome ructions over the past few years.
The World Trade Organization announced on Wednesday 22 February that the Trade Facilitation Agreement (TFA) has now entered into force, having surpassed the minimum requirement of 110 ratifications from members. “The Trade Facilitation Agreement is the biggest reform of global trade this century,” said WTO Director-General Roberto Azevêdo on Wednesday in confirming the news.