Mexico agrees to talk about tough NAFTA issues
The Dollar Business Bureau Mexico agreed on Wednesday to start discussions on tough issues in the renegotiation of the North American Free Trade Agreement (NAFTA) which is likely to begin on August 16. Canada has vehemently opposed a US proposal to do away with binational dispute resolution panels in which experts on the review panel review the decisions to impose tariffs or quotas. Though the Mexican Economy Secretary Ildefonso Guajardo denied taking any immediate position on the ‘panel issue’, but added that Mexico is keen to see that the process is modernised. In an interview Guajardo refused to take any stand, ‘I don’t think that when you start negotiations, it does any good to shadow box.’ He instead agreed to putting strong ...
US lawmakers want Trump to reform H1 B visa, curb on outsourcing jobs
The Dollar Business Bureau A two-party group of lawmakers from the House of Representatives as well as the Senate has prodded US President Donald Trump to put a curb on jobs outsourcing firms and reform the L-1 and H-1B visa programmes. “We write because for far too long the H-1B visa has been abused by some corporations as a way to displace American workers with cheap foreign labour. We urge you to use your authority as President to the greatest extent possible to stop H-1B abuses, but we believe reform also must happen legislatively because of loopholes in the law,” the lawmakers said in a letter written to Trump. In the letter written on July 27, the lawmakers said that the ...
Sitharaman in Shanghai to attend BRICS trade ministers meet
The Dollar Business Bureau Commerce and Industry Minister Nirmala Sitharaman reached Shanghai on Monday for attending the two-day meeting of trade ministers of BRICS (Brazil, Russia, India, China, South Africa), starting on Tuesday. During the meeting, it is expected that Sitharaman would raise concerns over the increasing trade deficit of India with its neighbour China. The seventh meeting of five-nation bloc – BRICS, will discuss on expanding cooperation in e-commerce in the forthcoming annual meeting, the Ministry of Commerce (MOC) of China said. Cooperation in e-commerce such as in the fields of payments and logistics, is fast emerging among the BRICS members, with several products of the member-nations gaining traction in China, said Zhang Shaogang, Director at Department of International Trade and Economic Affairs with China’s MOC. “Economic and technological ...
EU nationals to face same visa requirements as others, post Brexit
The Dollar Business Bureau UK’s Immigration Minister Brandon Lewis said on Thursday that after the Brexit deadline, nationals from European Union (EU) countries will have to face same visa requirements as the migrants from non-EU nations. Freedom of movement is an aspect of the UK’s EU membership and this will end once the country exits the bloc, Lewis said. This would mean that migrants from the 27-member bloc will face similar visa restrictions as Indian nationals, as soon as Britain leaves the EU - the deadline for the same is March 2019. “Free movement of labour ends when we leave the EU in the spring of 2019. I’ll be very clear about that,” Lewis told a leading international news agency. “Obviously, there’s a period of ...
Number of issued O visas tripled in the past decade: US Senator
The Dollar Business Bureau A top US Senator on Tuesday alleged that the potential applicants for H-1B visa are being guided to apply for O visa programme instead of the H-1B, which is numerically restricted and meant for highly-skilled workers to avoid legal limitations on employment visas. H-1B visa is issued to international guest workers having high skilled capabilities, while O visas are intended for those having extraordinary capabilities or who have demonstrated extraordinary achievement record. Unlike most of the visa categories, O visa programme has no restriction on its numbers. Mentioning some media reports, Senate Judiciary Committee Chairman Senator Chuck Grassley, said that the number of visas issued under the O visa programme in the last decade has increased ...
India and Jordan ink the revised Economic and Trade Cooperation Agreement
The Dollar Business Bureau India and Jordan discussed ways of increasing bilateral trade and deepening their engagements for greater cooperation in investment sector at the 10TH India-Jordan Trade and Economic Joint Committee (TEJC) Meeting on Wednesday. During the TEJC meeting, the two sides also reaffirmed their mutual interest and discussed the roadmap for cooperation in various fields such as Fertilizer Sector, Customs, Double Taxation Avoidance Agreement, Visa and Consular issues, Health and Pharmaceuticals, Micro, Small and Medium Enterprises, Maritime Transport, Rail Transport, and Air Transport, Renewable Energy, Energy Efficiency, and Smart Grid development, Information Technology, Higher Education and Vocational Training, Agriculture sector etc. The government press release said, that the Indian side represented by the Commerce and Industries Minister, Nirmala Sitharaman and Yarub ...
Trump sets new visa criteria for applicants from Muslim countries
The Dollar Business Bureau The US administration under President Donald Trump has issued new guidelines for the visa applications from six Muslim-majority nations and all refugees. Visa applicants from these countries now require a ‘close’ family/business relation to become eligible for entering the US. This move came after the US Supreme Court partly restored the executive order issued by the Trump administration barring citizens from the six countries for 90 days to travel to US that was extensively criticised as it targeted only Muslims. Visas, which have been approved already, will not be cancelled. However, the new guidelines issued by the US State Department mentions that the applicants from six Muslim-majority countries of Iran, Sudan, Syria, Somalia, Libya, and Yemen must now have to prove relationship with a parent, ...
CIM underlined the importance of Services to gather the full potential of RCEP
The Dollar Business Bureau Upon her return to India, Commerce Minister Nirmala Sitharaman gave a press briefing on the discussions, deliberations and developments that happened at Hanoi during the proposed Regional Comprehensive Economic Partnership meet. On day 2, 22nd May, she said the ministers took stock of the state of negotiations across various negotiating groups and sub-working groups, particularly in the area of goods, services and investment. She pointed out that while considerable progress was made several areas still needed some finality. Referring to the protectionist measures adopted by some countries she said that the negotiations for the services sector were either slowed down or stalled. Though the Indian side put up a valiant fight to protect its industry in goods, discussions on the ...
