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EU's Largest Trade Deal Finalised with Japan
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After 4 years and 18 rounds of negotiation, the EU has finalised the details of a trade agreement with Japan. The agreement represents the EU’s biggest ever trade deal, with the two partners making up almost one third of the world’s GDP through a combined population of 600 million people. The deal will see tariffs either removed or sharply cut, making exports to Japan easier. The trade agreement is being referred to as a rebuff to protectionism, and providing the political will of the nations involved remains supportive, it could be implemented later this year or early 2019.

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Are the Greeks About To Say Goodbye To Austerity?
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Greece is hopeful a review of its current bailout program will conclude the country has made enough progress to satisfy its international creditors, in theory allowing it to raise its own finance on the international markets once more. After 7 painful years of austerity requiring rescue loans totalling €270 billion and involving three bailouts, August 2018 could see Greece exit its bailout program. The nation has passed numerous laws and regulations to access funds, some of them politically controversial. However it now has a balanced current account and is predicted to grow its...

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News
EU Blacklist Could Mean Paradise Lost
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The release of more data concerning the tax arrangements of multi-national companies and wealthy individuals has seen the EU endeavour to step up its efforts to reduce tax avoidance. The so-called “Paradise Papers” contain confidential information from the Bermuda law firm Appleby Group Services Ltd, and although they disclose legal tax arrangements, they are increasingly viewed as an unethical way to divert money which could have gone in to public coffers for spending on public services.

 

A Tax-Haven Blacklist

For the last year, the EU has been discussing a blacklist on...

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News
India and EU Trade Talks Set To Resume
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Representatives from the EU and India will meet in mid-November in New Delhi to try and kick-start long stalled trade talks. Officially termed the Broad Based Investment and Trade Agreement, the respective negotiators will be looking to conclude a broad and comprehensive free trade agreement, talks on which began in 2007. India and the EU have been strategic partners since 2004 and October saw the 14th India-EU summit where other areas of bilateral and regional importance were discussed. However the trade talks have been delayed by a number of issues.

 

Problem Areas

The trade talks...

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News
Faster Trade Deals Desired
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Trade deals have been in the news since Brexit and come with a reputation for being notoriously long-winded to complete. European Commission President Jean-Claude Juncker wants to change this, proposing possible procedural alterations to speed up the ratification of future trade deals. Having seen the TTIP agreement with the USA mothballed and the EU trade agreement with Canada almost derailed by the parliament of the Belgian region Wallonia, Juncker is expected to announce a new framework bypassing regional and national parliaments on large parts of any future deals.

 

Who Gets to...

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News
Trade Deal Between Mercosur States and EU upcoming
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South American trade bloc Mercosur seeks to put the final touches on its agreement with the EU which is anticipated by the end of the year. This was at its biannual summit which was held in mid-July 2017 although experts caution that this duration might be too small to come up with a deal. Mercosur members Brazil, Uruguay, Argentina and Paraguay claim that the renewed talks with Brussels mark one of the most successful milestones in their talks. 

 

Trade deal in discussion since 1999

The Mercosur-EU deal entered into force in 1999 after the 1995 signing of the cooperation...

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Analysis
EU Trade Barriers and Potential Japanese Agreement
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New trade barriers have been introduced against the EU in 2016 marking a 10% increase from the current 372 at the end of the year as experienced by over 50 business destinations globally. The therefore lost EU exports which are worth around €27 billion could be adversely affected by the 36 barriers created in 2016. The European Commission has, however, made a commendable move in removing at least 20 obstacles which were hindering European exports, with this success credited to its practical Market Access Strategy. 

 

Countries with the Largest Trade Barriers 

The Trade...

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Analysis
Russia's trade growth showing positive signs
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Economic growth in Russia has slowed down owing to sanctions imposed by other governments for its role in the Ukraine crisis in the last two years. While the recent visit by German Chancellor Angela Merkel provided some hope that the issue of sanctions would come up, it did not feature much in their discussions. Nonetheless, the German chancellor said she hoped some sanctions may be lifted, under the condition that Russia shows significant progress in adhering to the Minsk peace plan. Especially Merkel has been a vocal supporter of the sanctions since the seizure of the Crimea...

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Study
Free Trade Deals are the Future of Small Businesses
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Nothing works harder to bring balance to the economy and boost exports more than free trade, but recently, the amount of checks and the increased paperwork that traders have to endure at the country's borders could, in the long run, cripple international trade for small businesses.

The irony of the situation is that it is these small and medium sized companies that will eventually come to boost the economy. Currently, only 21 percent of these businesses export their products to other countries, and if the British government wishes to achieve its one trillion pounds per year export goal,...

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Inside Story
Britain Eyeing Golden Trade with America
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As Donald Trump assumes office, there is uncertainty of America's relation with the Britain. This is following an interview with the Times and Germany's BILD-Zeitung, where Trump mentioned that he wanted a "very Quick" trade agreement between these two countries.

Considering America is a heavy consumer of Britain exports and financier expertise, any trade agreement between them is very important. In fact, Britain has been exporting goods worth $121 billion to America and trades even more with America on insurance more than it does with EU. The World Bank classifies...

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