During the OECD’s Ministerial Council meeting, trade ministers discussed the potential for finalizing an agreement on trade facilitation and updated guidelines on WTO accession for the LDCs. See ICTSD analysis.
Trade officials from [the Republic of] Korea and Colombia indicated that their countries will soon conclude a free trade agreement. [The Republic of] Korea’s automobile sector is expected to benefit greatly from this FTA as the tariff for [Republic of] Korea-exported cars is currently 35%. Analysis by the Jakarta Post.
Heads of state from India and Myanmar signed agreements on border area development, air services, cultural exchanges worth $500m and also agreed the establishment of a joint trade and investment forum. See BBC’s analysis.
The Mexican Ambassador to Japan Claude Heller announced that Mexico would welcome Japan's participation in the Trans-Pacific Partnership talks because it would help make potential new trading bloc "a very important actor" on the international stage. Analysis of the Japan Times.
From May 16-18 the second AIEN workshop was held in the ADB headquarters in Manila. The learning event was attended by government officials, academics and ADB staff from more than 10 countries in Asia. Topics discussed included the role of production networks, case studies from successfully concluded Free Trade Agreements (FTAs) as well as “New Trade Issues” such as intellectual property rights, government procurement, and investment. The e-learning materials will be available shortly on the AIEN website. See agenda.
Arguably the greatest trade policy challenge facing ASEAN’s newer members — Cambodia, the Lao PDR, Myanmar and Viet Nam (CLMV) — are the non-tariff barriers restricting trade. Nevertheless, traditional trade instruments such as the tariff and policy relating to its management remain important and should not be ignored. Read more.