Search Result for : Tpp

The Dollar Business Bureau (sourced from Reuters) The 3rd Regional Comprehensive Economic Partnership (RCEP) Intersessional Ministerial Meeting at Hanoi was held between 21-22 May. The Indian side was led by Commerce and Industries Minister Nirmala Sitharaman. Trade ministers from Asia-Pacific region were meeting to speed up the stalled negotiations and finalize a trade agreement, amidst growing fears of trade protectionism. The RCEP, with the attendance of Ministers and Vice Ministers from ASEAN, Australia, New Zealand, China, Japan, Korea and India led by China is seeking to finalize an agreement by the end of 2017. The 1st RCEP negotiation round was held in Brunei Darussalam in 2013 and since then 18 rounds of senior level negotiations have been held. The convening of the Intersessional Minister’s meeting ...

The Dollar Business Bureau In a recent telephonic conversation with the Canadian Prime Minister and Mexican President, Trump agreed to renegotiate NAFTA instead of scrapping the trilateral trade deal. On his twitter account, he stated, “I received calls from the President of Mexico and the Prime Minister of Canada asking to renegotiate NAFTA rather than terminate. I agreed – subject to the fact that if we do not reach a fair deal for all, we will then terminate NAFTA. Relationships are good-deal very possible!” Many on either side of the border are breathing a sigh of relief as Trump softens his stance on termination of the deal which is more than two decades old. However, Trump continues to stress that the deal was ...

The Dollar Business Bureau Former Indian Ambassador to the US, Arun Singh, spoke at length about the progression of India-US ties in the first 100 days of Trump's presidency. With the end of April 2017 marking the 100-day milestone of Trump's reign as the leader of the free world, many have expressed dissatisfaction with his rather capricious style of ruling. Be it Trump reneging on his own words or him lacking the wherewithal to get Congress to pass his reforms, his performance so far has been the subject of much public derision. On the other hand, Indian diplomat Arun Singh, who has seen India-US relations enhance during most of Bush's and Obama's tenure, backs the new US administration and sees much promise in its attitude towards India. “As the engagement of the past hundred days ...

The Dollar Business Bureau After US President Donald Trump called for a renegotiation of the North American Free Trade Agreement (NAFTA), Mexico has escalated talks with its other trade partners, including Turkey for creating new free trade zones. On Friday, Mexico’s Secretary of Foreign Affairs Luis Videgaray said Mexican and Turkish authorities agreed to speed up the negotiations process of bilateral free trade agreement. "We've already had seven rounds of negotiations, and another round will be held in the coming weeks, we have agreed to speed up the process of searching for specifics of this agreement," Videgaray said, after his meeting with his Turkish counterpart. Earlier this week, Mexico’s Economy Secretary Ildefonso Guajardo said his country was looking to extend the current trade agreement ...

The Dollar Business Bureau Among other things, January 23, 2017 will go down in history as the day on which America, under the Trump administration, decided to disrupt trade relations with its eastern allies by withdrawing from the Trans-Pacific Partnership (TPP), one of Barrack Obama's pet projects. Donald Trump, as one of his first strategic moves after moving into the Oval office, signed an executive order to pull out of TPP. Going forward, he said that USA would make bilateral trade deals with individual nations, which could be terminated within 30 days if the partner country 'misbehaves'. Next on Trump's agenda is scheduling a meet with his Mexican and Canadian counterparts to renegotiate NAFTA, a trilateral trade agreement between the three countries. Such drastic anti-free trade measures have ...

The Dollar Business Bureau (Sourced from PTI) The US has started implementing a trade preference programme for Nepal under which different types of products that meet eligibility criteria will be imported duty-free from the Himalayan nation.The Nepal Preference Programme is authorised for ten years and designed to help Nepal's economic recovery from the earthquakes that struck the country in 2015, according to a statement by the US Embassy here.Trade Facilitation and Trade Enforcement Act of 2015, which was signed by US President Barack Obama yesterday, will provide duty-free treatment for dozens of types of imports from Nepal that meet specific eligibility criteria, including certain types of carpets, headgear, shawls, scarves, and travel goods, the statement said."The program grants duty-free tariff benefits ...

The Dollar Business Bureau Amid the US President-elect Donald Trump’s continuous rhetoric to withdraw the United States from the Trans-Pacific Partnership (TPP) deal, Japan’s Prime Minister Shinzo Abe on Monday said the pan-Pacific free trade deal would become meaningless without the US’s participation. Speaking to the reporters at the gathering of TPP leaders in Lima on Saturday, Abe said there was no discussion at the meeting with respect to other members’ attempt to put the TPP into effect without the United States. "The TPP would be meaningless without the United States," Abe told reporters in Buenos Aires. Trump on Monday released a video, underlining the actions he would take on his first day in office on January 20, which included his withdrawing the United ...

The Dollar Business Bureau  Before the departure of Chinese President Xi Jinping for  the Asia-Pacific Economic Cooperation (APEC) summit to be held in Peru from November 19-20, Li Baodong, the country’s Vice Foreign Minister cautioned about the upsurge of protectionism and said that the region required a free trade agreement (FTA) as soon as possible.  “Trade and investment protectionism is rearing its head, and Asia-Pacific faces insufficient momentum for internal growth, and difficulties in advancing reforms,” Li said, while briefing reporters.  Li also opined that China thinks it should set a very practical and fresh working plan, to respond positively to the industry’s expectations, and maintain momentum in order to create a free trade area in the Asia-Pacific region at an early date.  During ...