#tariffs

RCEP Was Launched with High Hopes. Here Is How We Can Achieve Them

GTDW FDI Trade & Supply Chain Digitalisation News

Nov 27, 2022
3 min

RCEP Was Launched with High Hopes. Here Is How We Can Achieve Them

We need to work across borders to ensure that the benefits of the Regional Comprehensive Economic Partnership are enjoyed by everyone. By Sanchita Basu-Das, Asian Development Bank The Regional Comprehensive Economic Partnership (RCEP) – a massive trade deal involving Southeast Asian nations and Australia, the People’s Republic of China, Japan, the Republic of Korea, and New Zealand – is celebrating 10 years since it was first conceived in 2012. It came into effect in January

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Global Free Zones of the Year 2022 – Global winners

GTDW FDI Trade & Supply Chain Digitalisation News

Oct 17, 2022
1 min

Global Free Zones of the Year 2022 – Global winners

Dubai’s DMCC is once again fDi’s best in class, with Dalian Free Zone coming in as second Despite the headwinds brought about by geopolitical tensions and economic uncertainty in 2022, the primacy of Dubai Multi Commodities Centre (DMCC) as the world’s best free zone remains a constant. For the eighth consecutive year, the UAE’s biggest free zone has been crowned ‘Global Free Zone of the Year’, while the position of special economic zones (SEZs) in the world has been strength

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South Korea Ratifies Cambodia Trade Deal

GTDW FDI Trade & Supply Chain Digitalisation News

Sep 30, 2022
1 min

South Korea Ratifies Cambodia Trade Deal

The South Korean National Assembly on September 27 ratified the Cambodia-Korea Free Trade Agreement (CKFTA), fuelling hopes for an export boom to Asia’s fourth largest economy. The CKFTA is to become effective 60 days after both sides have completed their internal procedures and deposited their respective instrument of ratification (IoR), a document by which a country formally agrees to be bound by a treaty. After the Cambodia-China Free Trade Agreement (CCFTA), the CKFTA is

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The future of special economic zones – a best practice model

GTDW FDI Trade & Supply Chain Digitalisation News

Jul 13, 2022
1 min

The future of special economic zones – a best practice model

Special economic zones have been hit hard by Covid-19 and changes in attitudes to incentives. So how can they prosper in the future? Douglas van den Berghe offers a model to answer this question. The UN Conference on Trade and Development’s 2019 World Investment Report estimated that between 2014 and 2018, the number of special economic zones (SEZs) worldwide increased by 26% to around 5,400. More than 140 countries, which include almost 75% of all developing economies and al

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RCEP: Can Multilateralism Lead to Economic Growth in Asia Pacific? New Report Launched

GTDW FDI Trade & Supply Chain Digitalisation News

Jun 22, 2022
2 min

RCEP: Can Multilateralism Lead to Economic Growth in Asia Pacific? New Report Launched

Since the Regional Comprehensive Economic Partnership entered into force in Jan 2022, its impacts are largely unknown. This report brings together the insights from 20 experts across 10 different Asia-Pacific countries analyzing how RCEP will change the economic and political landscape in the 21st century. Accounting for nearly a third of the world’s population and almost 30% of global GDP, the Regional Comprehensive Economic Partnership (RCEP), entered into force on January

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Explainer | What is RCEP, the world’s largest free trade deal that is under way?

GTDW FDI Trade & Supply Chain Digitalisation News

Jan 4, 2022
2 min

Explainer | What is RCEP, the world’s largest free trade deal that is under way?

Regional Comprehensive Economic Partnership (RCEP) trade agreement took effect for most of the 15 member countries on January 1 It is the world’s largest free trade agreement, as it covers nearly a third of the global population and about 30 per cent of its global gross domestic product The Regional Comprehensive Economic Partnership (RCEP) is a free-trade agreement between the 10 Association of Southeast Asian Nations (Asean) members plus Australia, China, Japan, New Zealand

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UNCTAD Report: A New Centre Of Gravity - RCEP And Its Trade Effects

GTDW FDI Trade & Supply Chain Digitalisation News

Dec 15, 2021
2 min

UNCTAD Report: A New Centre Of Gravity - RCEP And Its Trade Effects

When the Asia-Pacific Regional Comprehensive Economic Partnership (RCEP) enters into force on 1 January 2022 it will create the world’s largest trading bloc by economic size. A new UNCTAD report examines the agreement’s impact on trade around the world. On 1 January 2022, the Regional Comprehensive Economic Partnership (RCEP) will enter into force. This free trade agreement includes 15 East Asian and Pacific Nations of different economic sizes and stages of development, repre

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RCEP: Worlds Largest Free Trade Bloc Looks Likely To Come Into Force Early 2022

GTDW FDI Trade & Supply Chain Digitalisation News

Nov 3, 2021
3 min

RCEP: Worlds Largest Free Trade Bloc Looks Likely To Come Into Force Early 2022

The final completion of the Regional Comprehensive Economic Partnership (RCEP) has moved one step closer after six ASEAN countries submitted their approval letter for the RCEP on October 28, the Deputy Prime Minister and Commerce Minister of Thailand, Jurin Laksanawisit, said on Monday. Experts said that the latest significant move indicates the final completion of the RCEP could come into effect in January 2022, as scheduled. While the possibilities for the US attempts to di

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Why 2021 is the Year of the Asian Economy - Official May China Trade Data Analysis

GTDW FDI Trade & Supply Chain Digitalisation News

Jun 8, 2021
3 min

Why 2021 is the Year of the Asian Economy - Official May China Trade Data Analysis

Official China Trade Data Analysis by John W. Miller, Chief Economic Analyst, Trade Data Monitor - May 2021 China Preliminary Data by Major Products & by Country/Region Asia is really humming. Chinese exports of goods to top Asian trading partners boomed in May, suggesting that the continent is blowing past Europe and the U.S. in 2021 in the speed and scale of its recovery from the Covid-19 pandemic. Chinese exports to the 10 members of the Association of Southeast Nations, o

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U.S. Tariffs Drive Drop in Chinese Imports

GTDW FDI Trade & Supply Chain Digitalisation News

May 17, 2021
2 min

U.S. Tariffs Drive Drop in Chinese Imports

Levies now cover about $250 billion a year in goods—down from $370 billion—as U.S. companies shift purchases elsewhere U.S. tariffs have led to a sharp decline in Chinese imports and significant changes in the types of goods Americans buy from China, new data show, with purchases of telecommunications gear, furniture, apparel and other goods shifting to other countries. Nearly two-thirds of all imports from China—or roughly $370 billion in annual goods—were covered by tariffs

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ASIA: RCEP to bring 'explosive growth,' fierce competition among parties

GTDW FDI Trade & Supply Chain Digitalisation News

Mar 10, 2021
2 min

ASIA: RCEP to bring 'explosive growth,' fierce competition among parties

The Regional Comprehensive Economic Partnership (RCEP) agreement has been ratified by China and it is hoped that other member countries can speed up their progress and finally reach the threshold of entry into force, Minister of Commerce Wang Wentao said Monday. "The sooner the agreement comes into force, the sooner the people of the member countries will benefit," Wang said on the sidelines of the annual national legislative session. The agreement signed by 15 Asia Pacific c

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Singapore, United Kingdom sign free trade agreement

GTDW FDI Trade & Supply Chain Digitalisation News

Dec 10, 2020
2 min

Singapore, United Kingdom sign free trade agreement

Singapore and the United Kingdom signed a free trade agreement on Thursday (Dec 10) that will “provide continuity and certainty” for businesses in both countries, said Singapore’s Trade and Industry Minister Chan Chun Sing. The FTA was signed by Mr Chan and UK’s Secretary of State for International Trade Elizabeth Truss. The UK and European Union are currently locked in post-Brexit trade deal talks, more than 10 months after the UK left the bloc. Under the UK-Singapore FTA, c

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Global Economy Being Redrawn By Chinese Export Boom

GTDW FDI Trade & Supply Chain Digitalisation News

Dec 8, 2020
3 min

Global Economy Being Redrawn By Chinese Export Boom

Latest November China Trade Data insights from our partners at Trade Data Monitor, authored by Chief Economist, John W Miller - For a copy of November's trade data email: globaltrade@kwconfex.com What has been building all year exploded into a crescendo in November, as China registered the biggest month of exports in economic history. Buoyed by a rebounding economy as the U.S. and Europe continue to struggle with containing the coronavirus, Beijing reported shipments of $268

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CBP and Singapore Customs Sign Historic Letter of Intent to Explore Single Window Connectivity

GTDW FDI Trade & Supply Chain Digitalisation News

Nov 12, 2020
2 min

CBP and Singapore Customs Sign Historic Letter of Intent to Explore Single Window Connectivity

U.S. Customs and Border Protection (CBP) and Singapore Customs signed a historic letter of intent today that will enable closer cooperation in the areas of trade facilitation, revenue protection and risk management. Executive Assistant Commissioner for the Office of Trade Brenda Smith signed the letter of intent in Washington, DC on behalf of CBP and Deputy Director-General Lim Teck Leong signed the letter of intent in Singapore on behalf of Singapore Customs. The Letter of I

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The relationship between FDI and international trade

GTDW FDI Trade & Supply Chain Digitalisation News

Sep 24, 2020
3 min

The relationship between FDI and international trade

Trade and foreign investment are different but related types of transactions that play fundamental roles in the global economy. Foreign direct investment (FDI) and international trade are both drivers of the global economy, facilitating the cross-border transfer of goods, services and capital around the world. Research shows that the relationship between FDI and international trade is often complementary rather than competitive, although they represent different types of tran

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South Africa’s Tobacco, Booze Ban Lit Up Illegal Trade

GTDW FDI Trade & Supply Chain Digitalisation News

Sep 22, 2020
1 min

South Africa’s Tobacco, Booze Ban Lit Up Illegal Trade

South Africa may have banned cigarettes and alcohol during its lockdown but, for some, the good times kept rolling. While the rules were meant to help manage the health impact of the coronavirus pandemic — reducing alcohol-related trauma cases and cutting pressure on hospitals — they’ve allowed illegal traders to gain a foothold in the market. Tobacco and alcohol products remained readily available through the black market from when the ban first kicked in with the shutdown f

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Trade war: China unveils long-awaited ‘unreliable entities list’ rules

GTDW FDI Trade & Supply Chain Digitalisation News

Sep 22, 2020
1 min

Trade war: China unveils long-awaited ‘unreliable entities list’ rules

Beijing says firms on ‘unreliable entities list’ will be banned from trading with, investing in China Commerce ministry releases details of blacklist that was announced in May last year Any organisation or person investigated will have an opportunity to defend themselves, and be granted a grace period to correct any unacceptable behaviour, it says More than 15 months after its announcement, China has finally released details of how its new “unreliable entities list” will work

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Egypt to establish electronic Single Window system to track goods for 1st time

GTDW FDI Trade & Supply Chain Digitalisation News

Aug 26, 2020
3 min

Egypt to establish electronic Single Window system to track goods for 1st time

CAIRO – 25 August 2020: Egypt will establish an electronic system for the first time to track goods until the final release stage, and to deal in customs with goods contracted with a modern e-commerce system, with the possibility of pre-clearance and payment of customs duties before the arrival of the goods, Minister of Finance Mohamed Ma’it commented after the approval of the House of Representatives on the draft customs law on Monday. According to a statement from the Minis

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WTO announces new rules of origin initiative to help firms better utilize trade preferences

GTDW FDI Trade & Supply Chain Digitalisation News

Oct 22, 2019
3 min

WTO announces new rules of origin initiative to help firms better utilize trade preferences

The World Trade Organization is partnering with the International Trade Centre (ITC) and World Customs Organization (WCO) in an initiative which will enable firms to take fuller advantages of benefits under free trade agreements and preferential trade arrangements by helping them comply with product rules of origin requirements. Presented to WTO members at a 17 October meeting of the Committee on Rules of Origin, the Rules of Origin Facilitator provides firms with free access

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UNCTAD: Trade costs of non-tariff measures now more than double that of regular tariffs

GTDW FDI Trade & Supply Chain Digitalisation News

Oct 14, 2019
1 min

UNCTAD: Trade costs of non-tariff measures now more than double that of regular tariffs

Latest Asia Pacific Trade & Investment Report 2019: Trade costs of non-tariff measures are now more than double that of regular tariffs, the new Asia-Pacific Trade and Investment Report 2019 finds. Fuelled by legitimate public policy concerns and ongoing trade tensions, the number of non-tariff measures #NTMs has risen significantly. It is a concern for traders & policymakers who want trade to contribute to sustainable development. While applied tariffs in the Asia-Pacific re

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