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African Continent Edges Closer to Trade Agreement
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The Rwandan capital of Kigali was the stage for the signing of the African Continental Trade Agreement (CFTA) by 44 of the continent’s 55 nations. With the aim of creating a single market for goods and services on the African continent covering 1.2 billion people, it would be the largest trade agreement reached since the World Trade Organisation was created in 1995. 

 

Two Notable Absentees 

However two of the nations not to sign up to the agreement in Kigali were Nigeria and South Africa, two of the largest economies on the continent. Nigeria cited fear of the deal...

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Analysis
US Tariffs and Their Implications for WTO Rules
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President Trump's plans to impose tariffs on imported aluminium and steel are set to pose the World Trade Organisation (WTO) with its biggest challenge since its formation over two decades ago. A major champion of the WTO, the United States is now proposing trade plans which could see member states trying to negotiate separate deals with the US and bypassing the WTO trade negotiating forum.

 

What is WTO?

The WTO was created at the beginning of 1995 and administers existing international trade rules. Headquartered in Geneva, it is made up of 164 member states and is underpinned by...

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News
CPTPP Progresses Without US
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Despite the withdrawal of the United States from the original Trans-Pacific Partnership (TPP) talks following Donald Trump's election, the remaining 11 nations are on the verge of signing an amended version. With Japan taking the lead, the revised Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is due to be signed in Chile on March 8th. The final text contains 20 amended or suspended provisions, many of which were originally included following demands from US negotiators.

 

Perceived benefits of CPTPP

The agreement is being seen by members as a counter...

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Analysis
How Brexit Has Affected Exports in Britain
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The Brexit vote in 2016 saw a mix of reaction from economists about the aftermath of the referendum on trade in the UK. Many predicted an economic downfall for the UK. However, according to the data provided by Office for National Statistics (ONS), Britain exports have continued to increase over the few months after Brexit. The data compares trade activities in the whole year after Brexit.

 

Trading with non-EU countries

Brexit offers a chance for Britain to intensify trade with non-EU countries such as USA, India, China and the developing countries. Its trade with non-EU countries has...

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News
Singapore and Sri Lanka FTA Set to Boost Regional Business
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Singapore and Sri Lanka have signed a free trade agreement that is set to change how the two Asian nations conduct regional business. The FTA is part of Singapore’s move to initiate bilateral agreements with as many countries as possible, especially after the withdrawal of the US from the Trans-Pacific Partnership. The deal came to fruition during a three-day visit by Prime Minister Lee Hsien Loong that began on January 22. 

 

Mutually Assured Growth

The free trade agreement opens avenues for Sri Lanka and Singapore to collaborate on various businesses that will enhance...

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Analysis
Will Britain Join the Trans Pacific-Partnership?
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There are possibilities that Britain could be joining the Trans-Pacific Partnership (TPP), but only after the UK departs from the European Union. This move would be in efforts to explore alternative markets for exports that are presently going to Europe, but will possibly fall after Brexit. Reports by the Financial Times have it that the ministers have already had talks with the officials of International Trade to discuss the possible joining of the proposed free trade body. 

 

What is the TPP?

The TPP is an agreement intended to heighten economic ties between the member...

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Comment
China and US Announce Business Deals
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United States President Donald Trump struck a more conciliatory tone on his visit to China then may have been anticipated, ending in an announcement of $250 billion worth of business deals between the two countries. Having been highly vocal on the campaign trail regarding America's overall trade deficit with China which stood at $310 billion last year, he laid the blame with previous American administrations, saying China had to do what was best for its people. However, he did emphasise that the trade imbalance was unfair and one-sided, although he does not seem to have gained any major...

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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
The Revision of the Korus free trade agreement
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In a press briefing held of last week, South Korea stated that it was open to have a discussion with the United States to revise their trade pact Korus that was agreed on back in 2012. This came after a threat by the United States President Donald Trump to put an end to the accord between the two countries if there was no renegotiation.

 

Renegotiations are to come between South Korea and the USA

After a day of multiple discussions, the trade industry of South Korea acknowledged that there was need to amend the trade agreement to assure that there were mutual benefits...

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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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