Dear International Trade and Investment Committee Members,
Here are the international trade and investment articles and publications of interest for the week of September 9 to September 15. This week’s edition has been curated by Dr. Paresh Pandya.
News
- The Export-Import Bank, in danger of closing at the end of the month because of strong conservative opposition, neared a reprieve late Tuesday as Republican leaders included a nine-month extension of its charter in a short-term budget bill.
- After China showed progress in adhering to a commitment made at last year's Joint Commission on Commerce and Trade (JCCT) to let owners of pharmaceutical patents provide supplemental information to fend of certain legal challenges, U.S. companies are now reporting an increasing number of cases where they are being barred from providing such additional information if their drug patents are challenged for a different reason, according to informed sources.
- Negotiators working on the Trans-Pacific Partnership over the last 10 days have made "important progress" across a range of issues, the U.S. Trade Representative's office said Wednesday.
- The Harper government has officially ratified a controversial trade deal with China, it announced today.
- The deadline for amendments to the free trade agreement between the European Union (EU) and Canada closed today (12 September), as opponents criticised the process for being "undemocratic".
- Near the end of 10 days of Trans-Pacific Partnership (TPP) talks here, a rough plan for the next steps toward crafting some sort TPP outcome by early November appears to be emerging, though many critical questions remain unanswered, according to private-sector and official sources.
- Amid India's tough posture over the food security issue, the WTO has expressed optimism of finding a solution as it reviews the progress of talks this week.
- "We will be reviewing progress and looking at ways to advance this work starting from next week itself," WTO Deputy Director General Yonov Frederick Agah told PTI over the weekend.
Government Announcements/Press Releases
- As part of the BC Jobs Plan’s commitment to expand international trade and investment, Premier Christy Clark will lead her sixth international trade mission - this time to India.
- Gains in productivity and international competitiveness in Canadian industries are partly attributable to technical progress in the United States, according to a new study released today.
- The Honourable Leona Aglukkaq, Minister of the Environment, Minister of the Canadian Northern Economic Development Agency and Minister for the Arctic Council, today announced that Canada will host the Arctic Council Ministerial Meeting on April 24 and 25, 2015, in Iqaluit, Nunavut.
- Foreign Affairs, Trade and Development Canada today issued the following information regarding the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) and the Canadian marine shipping industry
- The Honourable Ed Fast, Minister of International Trade, today announced that the foreign investment promotion and protection agreement (FIPA) between Canada and China has been ratified and will come into force on October 1, 2014. The agreement was signed in September 2012.
Commentary and Editorials
- On August 22, 2014, a World Trade Organization (WTO) dispute settlement panel circulated its decision in Argentina – Measures Affecting the Importation of Goods (WT/DS438/R, WT/DS444/R, WT/DS445/R). The United States, the European Union and Japan (the complainants) challenged two separate, broadly defined measures, alleging that each restricted imports in a manner inconsistent with Argentina’s WTO obligations.
- If you are new to importing goods into the United States there are many requirements, restrictions, and regulations involved. From quota restrictions, other government agency permits or inspections to customs forms. Some information, such as an item being eligible for reduced rates of duty or eligible for one of the many Free Trade Agreements, or products that are not permitted to enter the commerce of the United States because they are manufactured from a facility located in an embargoed country, can only be determined if you know the products Harmonized Tariff Schedule Classification. Determining your product’s tariff number can be extremely complex. Starting out with a good understanding of customs regulations and requirements are key to importing success. Below is a brief overview of what is required when shipping goods into the United States.
- When the Special Economic Measures (Russia) Regulations were recently amended in late July, they were restructured such that there are now three groups of "designated persons." The nature of the restructuring has implications for the Canadian financial services sector.