Merkel visits Argentina, discusses trade and climate change
The Dollar Business Bureau During her visit to Argentina, Germany’s Chancellor Angela Merkel said on Thursday, that the two countries have agreed to promote multilateral trade and to protect the environment from climate change. The German Chancellor is on a visit to Latin American countries ahead of the G-20 summit, to be held in July in Germany. Merkel has criticised the protectionist stance taken by the US and called the decision of President Donald Trump of withdrawing from the Paris climate accord ‘extremely regrettable.’ In a press conference with Argentina’s President Mauricio Macri, she said that both countries want to be a part of the ‘interconnected world’ and are dedicated to protecting the Paris accord. “No one alone in this world — no individual and no ...
India and Uruguay ratify cooperation and mutual assistance in Customs matters
The Dollar Business Bureau The Union Cabinet, chaired by the Prime Minister Narendra Modi has approved signing and ratifying an Agreement between India and Uruguay regarding Cooperation and Mutual Assistance in Customs Matters. The Agreement will help in the availability of relevant information for the prevention and investigation of Customs offences. The Agreement is also expected to facilitate trade and ensure efficient clearance of goods traded between the countries. The draft Agreement takes care of Indian Customs' concerns and requirements, particularly in the area of exchange of information on the correctness of the Customs value declared, the authenticity of certificates of origin of goods and the description of the goods traded between the two countries. The Agreement would provide a legal framework for sharing ...
India and Brazil have signed the Investment Facilitation Treaty
The Dollar Business Bureau Nirmala Sitharaman and her Brazilian counterpart Marcos Pereira, who is in India to participate in the BRICS summit held bilateral talks on 13th October 2016. The Brazilian minister Marcos expressed pleasure on the Investment Facilitation Treaty being initialed between India and Brazil at Goa and also mentioned that this was Brazil’s first in Asia and was glad that it is happening with India. The Investment Facilitation Treaty between the two countries is to encourage more Indian investment in Brazil and to create a legal framework to the business. Both the Ministers expressed the need to strengthen the India-MERCOSUR PTA and expand the items on offer from both sides to at least 2500 from the current 450 as this would ...
India looks to expand its share of bilateral trade with MERCOSUR
The Dollar Business Bureau India has pushed forward its consideration to the World Trade Organisation (WTO) of expanding the number of goods traded between India and MERCOSUR, a trading bloc comprising Brazil, Argentina, Uruguay and Paraguay, in order to cover a large part of bilateral trade. “The representative of India said that parties to the agreement have agreed on the need to “significantly increase” the number of tariff lines so that it covers a sizeable portion of bilateral trade,” WTO said in an announcement. According to WTO Secretariat, the India-MERCOSUR trade agreement, which is considered to be the initial step towards creating a free trade area among the member countries, commenced in 2009 and covers more than 450 tariff lines for ...
