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EU Funding To Boost Caribbean EPA Implementation 5/25/2012 The Caribbean Development Bank and the European Union have agreed to fund a multi-million facility to aid members of the Caribbean Community in implementing the necessary reforms to allow them to fully benefit from the preferential trade conditions provided for in the CARIFORUM-EU Economic Partnership Agreement.
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WTO Nations Discuss IT Agreement Expansion 5/18/2012 Several countries have signalled that they will be starting informal bilateral and plurilateral
consultations on what products to add to the Information Technology Agreement.
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Lamy Sings Praises Of IT Agreement 5/16/2012 At the opening of a symposium to mark the 15th Anniversary of the Information Technology Agreement, which substantially liberalized taxes on the global trade of computer products, World Trade Organization Director-General Pascal Lamy emphasized that the success of the agreement could easily be transferred to other growth, and innovation-promoting industries.
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Putin Backs Ratification Of WTO Commitments This Year 5/14/2012 Russia's new President, Vladimir Putin has dismissed calls to delay the nation's
accession to the World Trade Organisation.
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WTO Admits Two New Member States 5/8/2012 The World Trade Organisation is to approve Samoa's accession to membership of
the global trade body on May 10, 2012, following Montenegro's accession on April
29, 2012.
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Indonesia Imposes Export Tax, Restrictions On Mineral Ore Exports 5/7/2012 The Indonesian government is to place a tax on the export of certain raw minerals, as
well as banning their export by mining companies that have not agreed plans for
local processing in the country.
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WTO Members Ready To Revisit Doha Agenda 5/8/2012 World Trade Organisation member states have informally agreed to return to the negotiating table to progress the Doha Agenda at a pace that recognises the present crisis-time challenges for nations globally.
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Nations Air Grievances At WTO Anti-Dumping Body 5/1/2012 The World Trade Organization's Committee on Anti-Dumping Practices held a meeting with WTO members recently to present feedback on 30 anti-dumping actions taken during 2011, and to hear nations' current trade policy concerns.
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Russia To Guarantee Low Taxes On Arctic Oil Projects 4/24/2012 Russia has reacted to industry lobbying with the announcement of a 'globally competitive' tax regime to facilitate the extraction of substantial oil reserves lying offshore in the Arctic Circle as Russia's onshore deposits decline.
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US, Colombia FTA Effective In May 4/18/2012 The Presidents of the United States and Colombia announced at a joint
press conference in Cartagena that a landmark Free Trade Agreement between the two nations will become effective
on May 15, 2012, gradually exempting the vast majority of goods from bilateral trade taxes.
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After WTO Decision, China Establishes Rare Earth Regulatory Body 4/11/2012 Following last month’s request by several countries for consultations at
the World Trade Organization on what they consider to be China’s unfair
export restraints on rare earths, the latter has now set up a regulatory body
to oversee their exploitation.
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Canada Pushes For FTA Negotiations With Mercosur 3/22/2012 Ed Fast, Canada's Minister of International Trade, has concluded a two-day trade visit to Argentina, to promote the conclusion
of exploratory talks towards a possible Free Trade Agreement between the nation
and the Mercosur trade bloc of Latin American nations.
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China Under Attack Over Rare Earth Export Restraints 3/15/2012 The United States, European Union and Japan have jointly requested consultations
with China at the World Trade Organization concerning what they call the
latter’s unfair export restraints on rare earths, as well as tungsten and
molybdenum.
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Russia Lines Up Heavy Crude Export Tax Relief 3/9/2012 The Russian government is considering the introduction of a significant new tax
concession to make expensive extra-heavy crude extraction and refinement
projects more viable, to boost the nation's export capacity.
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China's Commerce Minister Attacks US Trade Policies 3/9/2012 During a news conference on the sidelines of the 11th National People’s
Congress, while disclosing that China’s foreign trade will show a more modest
increase in 2012, Minister of Commerce Chen Deming questioned the current United
States trade policies being aimed at China.
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Japan, Peru EPA In Force 3/6/2012 Japan and Peru have ratified the Economic Partnership Agreement signed between
the two nations in January 2012, so that the agreement, akin to a Free Trade
Agreement, entered into force on March 1, 2012.
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Canada, China Strengthen Commercial Relationship 2/28/2012 Canada and China have made progress in negotiations toward a foreign investment promotion and protection agreement and inked a series of agreements designed to strengthen their commercial relationship.
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China To Reinstate Export Tax Rebates 2/24/2012 Zhong Shan, Deputy Commerce Minister, at the recent 2012 China Imports and Exports
Work Conference held in Nanchang, disclosed that China will use export
value-added tax rebates to counteract any decrease in exports arising out of the
European debt crisis.
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Trade Barriers Hindering African Growth 2/10/2012 As African leaders pursue negotiations towards a continental free trade area by
2017, a new report released by the World Bank has noted that African nations are
losing out on billions of dollars in potential trade earnings every year because of restrictive barriers to regional trade.
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Peru's Tax Revenues Soar 2/9/2012 Peruvian tax revenues increased by 13.4% in real terms as a result of the country's
strong economy and efforts to tackle tax evasion, with full-year revenues amounting to PEN75.5bn (USD28.1bn), Peru's tax authority, SUNAT has reported.
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WTO Finds Against China’s Raw Materials Export Restraints 2/2/2012 A World Trade Organization Appellate Body has upheld a previous panel's
ruling, made in July last year, against the duties, quotas, and price and licensing
requirements, that China imposes on its exports of raw materials.
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WTO To Ease LDC Accession Requirements 1/27/2012 The Sub-Committee on Least Developed Countries, on January 20, agreed to start
work on developing recommendations to “further strengthen, streamline and operationalize”
current guidelines on the accession process of LDCs, as called for in a decision
by the Eighth WTO Ministerial Conference last month.
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Argentina's Farmers Call For Drought Tax Exemptions 1/18/2012 Argentinian farmers have been met by government resistance in their pleas for tax relief to compensate for significant droughts, which are expected to leave crop yields down around 10% for the year.
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India Hikes Iron Ore Export Tax 1/5/2012 The Indian government has announced another hike in the export duty on iron ore as it attempts to support the domestic steel industry.
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Russian WTO Bid Approved 12/21/2011 World Trade Organization member states approved Russia's bid to become
a WTO member at the 8th Ministerial Conference held in Geneva on December 16,
2011.
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China To Keep Import Tariffs Low In 2012 12/19/2011 The State Council has confirmed that, from January 1, 2012, China’s average
tariffs will remain at a low rate, to expand imports and meet consumer demand,
promote more balanced foreign trading relationships, and, thereby, encourage a
restructuring of the economy.
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Japan Ratifies Peruvian Free Trade Pact 12/14/2011 Japan's parliament has ratified the pending free trade agreement signed with
Peru, follow the pact's signature in May 31, 2011.
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Central American Free Trade Pact Sealed 12/12/2011 Mexico and five Central American nations, Nicaragua, El Salvador, Costa Rica,
Honduras, and Guatemala have agreed to the signing of a new consolidated Free
Trade Agreement, to unify existing bilateral arrangements under one pact.
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Montenegro's WTO Accession Terms Published 12/7/2011 A World Trade Organization Working Party has approved Montenegro's accession package to allow the nation to join the global trade club, subject to the approval of ministers at the WTO Ministerial Conference on December 15-17, 2011.
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Pakistan Considering MFN Status For India 12/1/2011 Pakistan's National Assembly has backed proposals to grant India 'Most Favoured
Nation' status under World Trade Organization rules on the condition that the
two countries' negotiators can establish reciprocal benefits for Pakistani exporters.
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WTO Members Resisting Protectionism 11/24/2011 The World Trade Organisation has published its annual report on developments in
the international trading environment, which comprehensively tracks measures implemented by nations over the past twelve months
that restrict or liberalize global trade.
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Zambia's 2012 Budget Raises Mineral Royalty Rates 11/16/2011 In his 2012 Budget Address to Zambia’s parliament, Minister of Finance and
National Planning, Alexander Chikwanda, indicated that a major part of the government’s
objective next year would be to mobilize tax revenues to support the country’s
development agenda.
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US, EU Laud Russian WTO Compromise 5/1/2012 The compromise reached by Russia and Georgia, mediated by Switzerland, has been praised by the European Union and the United States who have welcomed the benefits that Russian membership of the World Trade Organization will bring to the global trading system.
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EU Report Describes Doha Benefits 11/8/2011 A new study from the European Commission reveals that the economic benefits arising from successful Doha Development Agenda negotiations in the World Trade Organization could amount to an increase in world exports of USD359bn on an annual basis from a deal that secures the liberalization of industrial goods, agriculture, services and from the removal of red tape.
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Samoa Set For WTO Accession 11/7/2011 A World Trade Organisation Working Party has cleared Samoa's bid to
join the trade organisation subject to the approval of ministers at the Eight Ministerial Conference scheduled
for December 15-17, 2011.
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G-20 Nations Failing To Honour Protectionism Pledges 10/27/2011 Disappointingly weak growth in some G-20 members is testing the political resolve
of many governments to resist trade protectionism, says a new report from the World
Trade Organization, the United Nations and the Organisation for Economic Cooperation and Development,
which examines trade and investment measures implemented in the third quarter of 2011.
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EFTA, India Hold Ninth-Round FTA Negotiations 10/25/2011 Delegations from the four European Free Trade Association states (Liechtenstein, Switzerland, Iceland and Norway), and India have met
for a ninth round of negotiations towards a broad-based free trade agreement.
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Serbian WTO Accession 'Progressing Well' 10/7/2011 World
Trade Organization members have supported an early accession of Serbia to the WTO and welcomed
its progress in the implementation of new legislation to comply with the Organization's
rules.
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CARICOM Welcomes Progress Towards FTA With Canada 10/5/2011 Caribbean Community Secretary-General Irwin LaRocque has welcomed progress
towards the CARICOM-Canada Trade and Development Agreement, and praised Canada's
'keen and earnest approach'.
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Tax Of Lesser Importance In New-Age FTAs: WTO 9/19/2011 The World Trade Organisation has announced the publication of its annual World Trade
Report for 2011, focusing on the role that Preferential Trade Agreements play in the development of the multilateral trading system.
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China Appeals WTO Ruling On Raw Material Exports 9/5/2011 It has been confirmed that, on August 31, 2011, China notified the World Trade
Organization of its decision to appeal the panel’s ruling, made in
July, against the duties and quotas China imposes on its exports of raw materials.
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China To Appeal WTO Ruling On Raw Material Exports 8/30/2011 The Ministry of Commerce has disclosed that China will appeal against a World
Trade Organization panel’s ruling made last month against the duties
and quotas China imposes on its exports of raw materials.
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Namibia Waters Down Increased Mining Tax Proposals 8/24/2011 The Namibian government has decided to rescind or reduce most of the increased
tax proposals that it had previously threatened to impose on the country’s
mining sector, with the objective of gaining more revenue from current high global
commodity prices.
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Russian Oil Duty Rate Hike Trend Returns 8/19/2011 Russian oil duty is set to rise again next month after two consecutive months of lower rates.
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Vietnam To Raise Coal Export Tax 6/30/2011 Vietnam’s Ministry of Finance has plans to increase the rate of export tax
on all types of coal, from the current level of 15% to 20%, in order to
protect the dwindling level of coal reserves in the country.
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Russian Gas Industry Faces Tax Hit 6/2/2011 The Russian gas industry is to face a tax bill running into the billions, as the government looks for the revenue sources needed to balance the budget.
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Russian Oil Export Duty Rises 5/31/2011 Russian oil export duty is to reach near record levels, following a 1.9% hike authorised by Prime Minister Vladimir Putin.
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Trade Restrictions On The Rise 5/26/2011 Global trade and investment appear to be facing opposing forces both pushing and pulling against the prospects for economic recovery, as governments attempt to attract foreign investment on the one hand while shielding their economies from foreign competition by raising trade barriers on the other, according to a new report.
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Russia Could Hike Oil Tax Still Further 5/12/2011 Having risen each consecutive month throughout 2011, Russian oil export duty could go up again in June, albeit at a less substantial rate.
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Mexico Adopts ICC's Carnet System 5/9/2011 The ATA Carnet System is set to expand its membership on May 16 when Mexico
will join the international system. ATA Carnets reduce paperwork and costs for
business-people travelling with goods between countries party to the arrangements,
and allow temporary duty- and tax-free import and export of goods for up to
one year.
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BP Calculates Q1 Tax Costs 5/2/2011 Oil giant BP has released its first quarter results, which show decreased year on year profits, and which count the tax costs the company is likely to face during the coming months.
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Pakistan, India Discussing Bilateral Trade Resolutions 4/29/2011 India and Pakistan engaged in talks on April 27-28 to discuss hurdles to bilateral
trade under the South Asian Free Trade Area pact.
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Brazil To Scrap Plans For Sugar Tax 4/28/2011 Brazil's government has reportedly decided against the imposition of a controversial sugar export tax, according to reports in the Brazilian media.
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Russia To Abolish Oil Field Tax Break 4/19/2011 The Vankor oil field is to lose an important tax break from May 1, paying Russia's headline rate of oil duty from that date, which is also predicted to climb to near record levels.
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Ukraine At Trade Crossroads 4/13/2011 As Russia
attempts to lure the Ukraine into joining a proposed four-country economic bloc with promises of cut-price oil, Ukrainian authorities must decide whether to forgo an EU-Ukraine trade pact, being negotiated currently, or look to Russia, Kazakhstan and Belarus, for future economic and trade cooperation.
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Peru Targets April Signing For Mexican FTA 4/4/2011 Peru’s Vice Minister of Foreign Trade, Carlos Posada has said that the
government is doing its utmost to achieve the signing of the Free Trade Agreement
being negotiated with Mexico, stating that an April signing is workable if the
countries can agree final terms.
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Russia Raises Oil Export Duty Again 3/29/2011 Russian crude oil export duty is set to hit a two and a half year high after the government's monthly calculation alteration added an extra 16.08% to the rate.
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Credibility Of WTO Endangered, Warns Lamy 3/28/2011 The Director-General of the World Trade Organization,Pascal Lamy, said in a speech to the Annual
Session of the Parliamentary Conference that nations must do everything
in their power to ensure the success of the Doha Round or risk a 'catastrophic
weakening to the credibility of the WTO.'
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Indian Trade Body Calls For Rise In Iron Export Tax 3/2/2011 Leading industry body the Associated Chambers of Commerce and Industry of India has called for curbs on iron ore exports by increasing export tax on the resource.
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Doha Round Progressing But Lacking Momentum 2/24/2011 Summarizing the discussions of the World Trade Organization's Trade Negotiation
Committee in their latest, informal meeting, the Organization's Director-General,
Pascal Lamy warned that 'a major acceleration' is needed to complete the Doha Round.
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WTO Reviews Transparency Mechanism For RTAs 2/15/2011 The World Trade Organization's Negotiating Group on Rules, on February 4, 2011, commenced its review of the WTO Transparency Mechanism for Regional Trade Agreements by considering two proposals: one from the United States for the consideration of all RTAs under a single WTO Committee; and one from Ecuador for procedural adjustments to the mechanism.
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Lamy Urges On Doha Participants 2/7/2011 The World Trade Organization’s Director General, Pascal Lamy, as chairperson
of the Trade Negotiations Committee, urged WTO ambassadors on February 2 to
engage in bilateral and small group discussions on resolving key obstacles to
a near-global multilateral free trade agreement, through the Doha Round.
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Jamaica Announces USAID-Funded Tax Reform 2/3/2011 The Jamaican government has announced that it is in negotiations with the United
States Agency for International Development for a loan of USD75m to finance
the government’s tax administration reform programme.
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St Kitts Welcomes Free Trade Prospects With Brazil 2/3/2011 Saint Kitts and Nevis has welcomed negotiations with Brazil towards a ‘Partial
Scope Agreement’ which will provide preferential tariffs to the twin-island
federation for businesses engaged in manufacturing, in what Prime Minister Denzil
Douglas described as a ‘win-win’ situation for both states.
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Cameron Issues Doha Clarion Call 2/2/2011 A newly-published report from the UK government and championed by Prime Minister,
David Cameron, argues that for the Doha agreement to be successful negotiations
must be concluded by the end of 2011.
|
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Canada Pursues Free Trade Network 1/31/2011 Canada has announced the launch of free trade negotiations with Morocco, as
part of the government’s ongoing efforts to broaden its network of agreements
that reduce tariff barriers on international bilateral trade.
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Canada Hits Back At US In Lumber Spat 1/21/2011 Canada’s Minister of International Trade, Peter Van Loan, has responded
to the United States's decision to initiate arbitration proceedings with the nation over a dispute regarding the implementation of pricing mechanisms prescribed in the Softwood Lumber Agreement.
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EU Signs Serbian WTO Accession Agreement 1/11/2011 The European Union has announced the signing of a bilateral agreement on Serbia’s
accession to the World Trade Organization.
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Russia Reorganises Oil Product Export Taxes 12/31/2010 From the beginning of 2011, the Russian government has authorized modifications
to the export duties on oil products so as to encourage the production of higher
value-added lighter fuels in the country.
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Introduction Of EU Customs Monitoring System Imminent 12/27/2010 The European Commission has confirmed that from January 1, 2011, the EMCS (the Excise
Movement and Control System), a new computerised system for monitoring the movement
of alcohol, tobacco and energy products within the EU, is to become fully operational, allowing member states to more efficiently administer custom duties.
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EU Launches Multi-Year Review Of Cross-Border Taxation 12/23/2010 The European Commission has published a Consultation, which marks the commencement of a comprehensive multi-year review of the major cross-border issues faced by EU citizens, and proposes solutions for them.
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China Increases Export Tax On Rare Earths 12/16/2010 Within a policy of regulating exports and protecting China’s natural resources,
the Ministry of Finance has disclosed that taxes will be raised on China’s
exports of rare earths, with effect from January 1, 2011.
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Argentina's Tax Revenues Soar 12/6/2010 November tax revenues in Argentina have soared, up 39.5% on the year, says the country’s tax agency AFIP.
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Kazakhstan Defers Corporate Tax Cut 11/5/2010 Kazakhstan has put a stop on its tax cutting plans because of revenue concerns.
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Russia Prepares Tax Breaks For Yamal Gas 10/22/2010 The Russian government has given instructions to its ministries to prepare legislation by the year end on tax breaks for gas extraction and liquefaction on the Yamal Peninsula in the arctic north of Russia.
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Russia Plans New Oil Tax Regime 10/21/2010 The Russian government is planning to introduce a new profit-based tax regime on new oil fields, the details of which should be published by the year end.
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US And Canada At Loggerheads Over Lumber 10/13/2010 The United States has requested consultations with Canada under the 2006 Softwood Lumber Agreement regarding the apparent unfair under-pricing of timber harvested from public lands in British Columbia, the latest in a series of spats over bilateral lumber trade.
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Canada, Israel To Expand FTA 10/11/2010 The Canadian Minister of International Trade, Peter Van Loan has concluded
a two-day visit to Israel, where it was
proposed that the two countries conduct exploratory talks to expand the Canada-Israel
Free Trade Agreement.
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Syria Eyes Mercosur Trade Deal 10/5/2010 Syrian Assistant Minister of Trade and Economy, Khaled Sallouta has reported
back after meeting with the head of the Brazillian International Negotiations
Department at the country’s Foreign Ministry, Evandro de Sampaio Didonet,
in which the diplomats initialled an agreement to begin negotiations towards a Free Trade Agreement between Syria and the Mercosur bloc, which Brazil
is currently chairing.
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Canada Pushes Free Trade With India 9/16/2010 Speaking to members of the Canadian and Indian business community, the Canadian
Minister for International Trade, Peter Van Loan spoke of the promise of increased
bilateral trade with India, including the signing of a crucial economic
partnership agreement, talks for which will begin, he announced, in the next
few weeks.
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Bahamas Seeks WTO Membership 9/14/2010 The Bahamas has pushed forward its agenda to gain membership of the World Trade
Organization. The first working party meeting for the Bahamas’ accession
took place on September 14, in Geneva at the WTO headquarters.
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Lamy Pushes For Conclusion Of Doha Round 9/10/2010 Pascal Lamy, director general of the World Trade Organization, has met with Korean president, Lee Myung-bak, in Seoul in order to add impetus to the Doha Development Agenda at the upcoming G20 Summit to be hosted on November 10-11 in Seoul by Korea.
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Russia Mulls Taxes On Metals Exports 9/8/2010 Having abolished nickel and copper export duties in February 2009 after a slump in world prices, Russia's ministry for economic development is now working with the industry on a formula which would allow the tax to rise and fall in line with market prices.
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Georgia Introduces Cargo Transit Tax 8/23/2010 The revenue service of Georgia has announced the introduction of a cargo transit tax of GEL200 (USD110) on vehicles for road usage in the territory of Georgia.
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Kazakhstan Miners Slam Export Tax Plans 8/10/2010 The Kazakhstan Association of Mining and Metallurgical Enterprises has criticized the introduction of a minerals export tax, which was announced in July at the Second Congress of the Mining and Metallurgical Industry in Astana. It said its members advised that an additional profits based tax would be preferable.
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Russian Oil Export Duties Set To Rise 7/19/2010 Russia oil export duties, in accordance with the set formula, may rise in August by 6% from the present USD248.8 per tonne, reflecting rises in crude prices.
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Kazakhstan Reinstates Oil Export Duty 7/15/2010 Kazakhstan has reinstated oil export taxes with a tariff of USD20 per tonne of crude oil exported from the Central Asian nation.
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Ex-Soviet States Create Customs Union 7/8/2010 After some last minute brinkmanship, Belarus has ratified the establishment of a Customs Union with Russia and Kazakhstan.
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Russia Seeks To Raise Oil Revenues 7/6/2010 Russian finance minister Alexei Kudrin said Russia needed an extra USD60bn or 0.5% of GDP in oil and gas revenues to address its budget deficit.
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Argentine Soybean Tax Regime Attacked 7/6/2010 A recent study published by the United Soybean Board (USB) and soybean checkoff shows Argentina’s regime of taxing its whole soybeans for export at a higher rate than it taxes its soybean meal, oil and biodiesel destined for foreign markets costs the US soybean industry up to USD500m annually.
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EAC Common Market Enters Into Force 6/30/2010 A statement by the East African Community Secretary General, Juma V. Mwapachu,
on the occasion of the commencement of its Common Market on July 1, called on
the partner states to start the hard work of exploiting all available opportunities
arising from it.
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Georgia To Debate Tax Code Redraft 6/29/2010 A redrafted Tax Code has been sent to the Georgian parliament for approval with a view to becoming effective from 2011.
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Tunisia Unites On Tax Policy 6/29/2010 A recent ministerial council meeting overseen by Tunisian President
Zine El Abidine Ben Ali, has been held to monitor the implementation of the five-year
presidential programme focusing on 'an efficient financial policy and
fair taxation.'
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Canada Pushes Global Free Trade Agenda 6/24/2010 Canadian Minister of International Trade, Peter Van Loan, in a June 22 statement
in advance of the G-8 and G-20 summits, called for increased focus on free and
open trade, pointing to the Canada-United States relationship as an example
of a free trade success story.
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Chalghoum Outlines Tunisian Tax Reforms 6/23/2010 Presiding over a recent seminar exploring the benefits of corporate taxation
in Tunisia, organized by the Tunis Chamber of Commerce and Industry, Tunisian
Finance Minister Mohamed Ridha Chalghoum outlined the key aims of the 2009-2014
presidential programme under the heading “an efficient financial policy
and fair taxation”.
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Argentine Farm Lobby Wants Radical Reform Of Export Tax 6/23/2010 A campaign in Argentina to remove export taxes on grain and oilseed commodities and reform the whole system of agricultural trade controls is gaining ground.
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Dubai Airport Free Zone On Track 6/2/2010 Dubai World Central, the 140 sq km zone established to house the Al Maktoum
Airport – due to be the largest airport in the world – is to have
its first phase opening on June 27. The zone was recently ranked the second most attractive
tax-free zone in terms of its offerings internationally, and is set to
expand its leasable space by 90% by 2012.
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Russian Explores Further Oil Incentives 5/26/2010 Russia's Natural Resources Ministry is pressing for a simplified licensing and administrative system together with a clear and concessionary tax regime for the development of offshore oil on its continental shelf.
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Russian Oil Tax Exemptions May Go 5/21/2010 Russian deputy finance minister Sergei Shatalov has foreshadowed a removal of the export tax exemptions favouring supplies of oil from East Siberia. He told reporters that export taxes, albeit at a reduced rate, could be imposed as early as July this year.
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EU Signs FTA With Central America 5/20/2010 European Union member states and nations of Central America concluded an ‘Association
Agreement’ at a joint summit on May 19, 2010. The agreement removes tax
barriers to trade between the two parties, facilitating increased economic activity
between the two blocs.
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