With the major economic superpowers like USA, UK and Japan facing recession and collapse of major iconic banks, the world is now unanimous in its view that India, China and Brazil can no longer be ignored. Indo-SAARC trade relations now have a greater role to play especially in terms of the opportunities it provides to Indian SME's (Small medium enterprises).
The Summit of the Bolivarian Alternative for the Americas (ALBA) and Petrocaribe, originally scheduled for the coming weekend in Caracas, has been postponed, sources from the Venezuelan Foreign Ministry announced.
“Non-Tariff Barriers (NTBs) and bureaucratic procedures are real impediments to the implementation of SAFTA in true perspective therefore the Governments of the respective countries of the region need to enter into policy implementation phase instead of policy formulation”.
The Trade Ministry and Industry Ministry are at odds on how to protect the domestic market from a projected influx of imported goods as the global economic slowdown cuts demand, resulting in massive excess in supply in the international market.
Lack of political will and enforcement of protocols and treaties is dragging the implementation of the regional integration process, the East African Community (EAC) Chairman and Rwandan President, Mr Paul Kagame has said.
Southern Africa is at a crossroads. While the rest of the world is heaving and buckling under the weight of the financial crisis, the subcontinent is battling to overcome centuries of colonial and other boundaries through adopting agreements about a free trade area.
The government has sought help from Spain to conclude a comprehensive trade and investment pact with the European Union by the end of next year, Commerce and Industry Minister Kamal Nath said today.
Mercosur presidential summit next week in Brazil has on the table an agenda of several highly sensitive issues that could deepen the rift between senior members Argentina and Brazil and junior members Paraguay and Uruguay, according to Uruguayan parliamentary sources.
The controversial Japan-Philippines Economic Partnership Agreement (JPEPA) takes effect Thursday, December 11, with simple ceremonies in Tokyo, Philippine labor attaché to Japan Danilo Cruz said Wednesday.
Customs Commissioner Napoleon Morales said yesterday that even if it leads to a loss in revenue collection, the agency is ready to implement the Japan-Philippines Economic Partnership Agreement (JPEPA).
