The Asia-Pacific Economic Cooperation is moving ahead with cooperative
efforts to evaluate and identify initiatives to support freer, faster and more
beneficial trade in the region that will lead ultimately, it is hoped, to a Free
Trade Area of the Asia Pacific.
The Business Advisory Council of the Asia-Pacific Economic Cooperation is focused on taking further steps towards realizing the goal of an integrated
Asia Pacific economy, and on liberalizing and facilitating trade and investment,
leading ultimately to a Free Trade Area of the Asia Pacific.
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.
United States Trade Representative Ron Kirk has announced the outcome of
the 2010 Annual Review under the Generalized System of Preferences programme,
as well as the results of the annual African Growth and Opportunity Act Eligibility Review.
The Asia-Pacific Economic Cooperation group has approved a new initiative to harmonize cross-border data privacy protection, which is designed to enhance the protection of consumer data that moves between its members, including the United States, at a time when more consumer information is moving across national borders.
The European Commission is proposing to amend the Market Access Regulation governing the trade conditions for certain developing countries that have
negotiated, with the European Union, Economic Partnership Agreements which have yet to be signed and ratified.
Portugal is to add to its collection of tax treaties still further, with the announcement that negotiations have been concluded with two key countries, and that a new tax information exchange agreement has been signed.
The Portuguese government is seeking to expand its tax treaty network, beginning negotiations with three new countries over the last month: Peru, Gabon and Senegal.
A major negotiating breakthrough is required if the Doha Round is to reach a successful conclusion, with many gaps remaining unbridgeable, the Asia-Pacific Economic Cooperation organization has said.
Complete search and rescue cover around Africa’s coast was secured on March 3 with the signing of an ad-hoc multilateral cooperative agreement on the North and West African sub-regional Maritime Rescue Coordination Centre, which establishes a new base in Morocco, the International Maritime Organization announced.
A meeting of a wide range of stakeholders, including ministers, non-government
organisations and businesses, has decided that much more regional consultation
will be required on the proposed PACER Plus free trade agreement.
The Business Advisory Council of the Asia-Pacific Economic Cooperation has affirmed its belief that making progress on a Free Trade Area of
the Asia Pacific presents the best strategy for achieving regional growth.
China’s Ministry of Commerce has announced that, following an
exchange of letters, 60% of imports from 26 of Africa’s least developed
countries are duty free with effect from July 1, 2010.
The African Development Bank, the Organisation for Economic Cooperation and
Development, and the UN Economic Commission for Africa, have published a joint report focusing in particular on the continent’s
fiscal resilience to the financial crisis, and an analysis of appropriate tax policy going
forward.
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