The European Court of Justice (ECJ) ruled on Tuesday that the Comprehensive Economic and Trade Agreement (CETA) between Canada and the EU follows EU laws. The court decision was requested by Belgium and was focused on the section of CETA that concerns resolution of investment disputes between investors and states. CETA will establish a Investment Court System (ICS) to handle disputes between investors and states. The system will include a Tribunal, an Appellate Tribunal, and a multilateral investment tribunal. The Tribunal will include 15 members: five from Canada, five from EU member states and five from third countries. Belgium filed the request for a decision from the ECJ because the ECJ has exclusive jurisdiction over the definitive interpretation of EU law. The ECJ found that CETA did not violate this principle as long as the CETA Tribunals do not attempt to interpret EU laws. Belgium was also concerned that the Investor-State Dispute Settlement (ISDS) mechanism would violate the … [Read more...] about ECJ rules EU and Canada trade agreement follows EU laws
Comprehensive economic and trade agreement
By Foo Yun CheeSTRASBOURG (Reuters) - The European Union and Japan will launch the world's largest free trade zone early next year after their economic partnership cleared a final hurdle on Wednesday.gi Some 70 percent of European Parliament lawmakers backed the agreement that binds two economies accounting for about a third of global gross domestic product and signals their rejection of protectionism.While they have agreed to start separate trade talks with the United States, both face trade tensions with Washington and their steel and aluminium producers remain subject to U.S. tariffs imposed by President Donald Trump.EU Trade Commissioner Cecilia Malmstrom said the deal would bring clear benefits to EU companies and farmers. Japan's parliament approved it on Saturday."If all goes well, it should be able to enter force on February 1," she told Reuters in an interview. "The agreement is not only sending a signal to the world. It is also extremely advanced when it comes to opening … [Read more...] about EU-Japan free trade deal cleared for early 2019 start
THERESA May has said the UK is committed to striking trade deals with the rest of the world as soon as possible after Brexit. The UK will be able to negotiate new deals under the terms of her proposed withdrawal agreement from the EU, which MPs will begin voting on next week. What will Brexit mean for British trade? Companies based in the UK can sell their products freely to the EU without customers there having to pay additional taxes. Likewise British consumers don’t have to pay additional taxes for goods and services imported from the EU. The EU also has 35 agreements allowing free trade with countries such as Norway, Switzerland, South Africa and South Korea with 22 ones pending. But that will change after Brexit and the UK will have to begin to strike deals with these countries and the remaining EU countries. What will be our trade agreement with Europe and other big economies? The UK is hoping to strike a trade deal with EU in order to secure the movement of goods and … [Read more...] about What will Brexit mean for British trade?
By Dave Sherwood SANTIAGO (Reuters) - Chile will join China´s Belt and Road initiative, Foreign Minister Roberto Ampuero said on Thursday, in a move to deepen economic and political cooperation with the Asian powerhouse in a zone of strong U.S. influence. Ampuero said in a statement that joining China´s global infrastructure initiative would make Chile more attractive to Chinese investors and position the Andean nation as the "landing point for investments in Latin America." The agreement is set to be signed on Friday, the statement said. China is Chile´s top trading partner, and the two countries are deepening ties. Last week, Chile and China signed a trade deal to streamline customs controls and widen access to the Chinese market for Chilean products. China has increasingly taken a more aggressive foreign policy position throughout Latin America as the United States, under President Donald Trump, has opted for a more protectionist stance. The “One Belt, One … [Read more...] about Chile to join China´s Belt and Road Initiative
In his remarks, Reyser highlighted considerable progress in bilateral relations as well as the importance of the Argentina-Vietnam comprehensive partnership, as evidenced by regular delegation exchange to promote trade cooperation. The joint implementation of technical projects was seen as a contributory factor to closer bilateral cooperation after the committee’s fifth meeting held in Hanoi in 2016 and its mid-term meeting in Buenos Aires in October 2017, he said. The official stated that Minister of Foreign Affairs and Worship Jorge Faurie was accompanied by a multi-sector business delegation during his visit to Vietnam with the aim of increasing existing dialogue channels between the two countries and seeking new cooperation opportunities on pharmaceuticals, bio-technology, medical machines, food (particularly poultry and beef), seafood, and fruit. Based on the unanimous agreement, the Southern Common Market (Mercosur) is destined to conduct a pre-feasibility dialogue with … [Read more...] about Vietnam, Argentina enhance economic and trade links