India committed to deeper financial integration with SAARC
India has recently shared its model text of the Agreement on Promotion & Protection of Investments with the SAARC Secretariat The Dollar Business Bureau Finance Minister Arun Jaitely, in his Union Budget 2016-17 announcements last month, had reduced the amount of development assistance given to SAARC members India on Wednesday expressed its commitment to forge a deeper financial integration with the SAARC nations to achieve the South Asian Economic Union, aimed at increasing trade within and from outside the member countries. Speaking at the 42nd SAARC Standing Committee Meeting in Pokhara, Nepal Foreign Secretary S Jaishankar highlighted several initiatives taken by the government of India to foster such integration with the region. Free flow of capital is an essential element to increase trade ...
Developing nations to be net gainers in trade facilitation agreement: WTO
The Dollar Business Bureau The implementation of the Trade Facilitation Agreement (TFA) — a proposed deal which seeks to ease cross-border transactions — is likely to benefit developing nations significantly, World Trade Organisation (WTO) has said. In its world trade report released on October 26, the global body said the enforcement of TFA can increase global merchandise exports by up to $1 trillion per annum, with the developing nations capturing more than half of the available gain. “The TFA could help developing countries diversify their exports, increase their involvement in global value chains, expand the participation of small and medium enterprises in international trade, help to attract more foreign direct investment, increase government revenues and reduce corruption,” WTO said in a ...
Least-developed countries to facilitate markets for products
The Dollar Business Bureau The least-developed countries (LDCs) group at the World Trade Organization (WTO) presented an “elements for discussion” paper aimed at triggering an exchange on how members are responding to the 2013 Decision and, ultimately, identifying ways to facilitate market access for LDC products. The LDCs took the floor at the April 30, 2015, meeting of the WTO’s Committee on Rules of Origin to urge fellow members to move forward on implementing the December 2013 Bali Ministerial Decision on preferential rules of origin for LDCs, said an WTO official release. Members also agreed at the meeting to initiate an “educational exercise” to better understand the impact that national non-preferential rules of origin have on international trade. Speaking for the ...
