Trade Clippings - January 27 to February 2, 2015

Dear International Trade and Investment Committee Members, 

Here are the international trade and investment articles and publications of interest for the week of January 27 to February 2. This week’s edition has been curated by Alexandra Logvin. Alexandra is an associate at Fasken Martineau in Ottawa.

Top News

World Trade Organization, “WTO members elect Trade Facilitation Committee chair” (January 31, 2014)

• At the first meeting of the Preparatory Committee on Trade Facilitation on 31 January 2014, WTO members unanimously elected Philippine Ambassador Esteban B. Conejos, Jr. as chairperson. This is the first important step towards implementing the Declaration on Trade Facilitation adopted by Ministers in Bali, Indonesia on 3-6 December 2013.

World Trade Organization, “Public viewing of “US-COOL” dispute hearing set” (January 31, 2014)

• At the request of the parties in the dispute “US – COOL” (Article 21.5), the panel has agreed to start its meeting with the parties on 18 February 2014 with a session open to public viewing at the WTO headquarters in Geneva. It will continue on 19 February 2014.

Export Development Canada, “TradeTalk January 2014: To Insure or Not To insure?” (January 31, 2014)

• What are the options and cost of managing risk when selling to customers outside of Canada, including the U.S.? A Whitepaper and more from EDC.

ICSID Announcements, Conference: 20 Years of the Energy Charter Treaty, Paris, France - March 7, 2014 (January 29, 2014)

• The Energy Charter Treaty (ECT) was signed in Lisbon in 1994.  As of 2014, fifty-two states have signed or acceded to the ECT.  To mark the 20 year anniversary of the signing of the ECT, the International Centre for Settlement of Investment Disputes (ICSID), the Stockholm Chamber of Commerce (SCC) and the Energy Charter Secretariat (ECS) are organizing a conference of experts to discuss and reflect on the implementation of the ECT and to contemplate future developments under this instrument.

World Trade Organization, “Azevêdo calls Bali “a leap forward in favour of developing countries” (January 28, 2014)

• Director-General Roberto Azevêdo, in a speech at the Confederation of Indian Industry Partnership Summit in Bangalore on 28 January 2014, said that “besides being a boost to the WTO as an institution, what we delivered in Bali has tremendous economic significance and will improve the lives of millions around the world”. He said: “The work has only just begun — and we have the chance to make 2014 the year that the Doha round is put back on track. It will not be easy, but it is achievable. I hope that together we can capitalise on the success in Bali, and seize the opportunity that it has provided.”

Other News of Note

Suzanne Goldenberg, “Keystone XL pipeline closer to reality after State Department review,” The Guardian (January 31, 2014)

• Final decision rests with Barack Obama but the State Department, in its final environmental review of the project, says no 'significant' effect on carbon emissions is likely.

Adrian Morrow and Greg Keenan, “Ontario demands relief in South Korea free-trade pact,” The Globe and Mail  (January 31, 2014) 

• Ontario is demanding the federal government do more to protect auto makers in a new free-trade agreement with South Korea, arguing the deal as it currently stands would “negatively impact” the industry in the province. Economic Development Minister Eric Hoskins says he wants Ottawa to secure protections similar to ones the United States received in its own deal with South Korea in 2011.

Chinmei Sung and Adela Lin, “Trade Trumps Missiles as China-Taiwan Talks Show Warmed Ties,” Bloomberg (January 28, 2014)

• Less than two decades after China fired missiles into the sea off Taiwan, the first formal meeting between the two sides’ governments may pave the way for discussion of political ties after 65 years of division.

Journal of Commerce, “US Regains Status as Japan’s Biggest Export Market” (January 27, 2014)

• The United States overtook China to become Japan’s biggest export market for the first time in five years in 2013, according to preliminary trade figures released by the Finance Ministry. 

Nirmala Menon, “TPP Hovers Behind Canada-Korea Trade Talks,” The Wall Street Journal (January 27, 2014)

• After years of stalling, there’s a renewed push for Canada and South Korea to ink a free-trade pact, as South Korea eyes an even bigger prize: membership in the Trans-Pacific Partnership. 

Government Announcements/Press Releases

Foreign Affairs, Trade and Development Canada, “State of Trade Issue 9: Energy Tops List of Canada’s Export Commodities” (January 29, 2014)

• The Honourable Ed Fast, Minister of International Trade, today highlighted some of the findings from Canada’s State of Trade: Trade and Investment Update 2013, a publication of Foreign Affairs, Trade and Development Canada. “Canada is a trading nation, and increased trade leads to new jobs and opportunities for all Canadians,” said Minister Fast. “That’s why our government continues to work hard to open new markets and trade routes for our priority export commodities.”

Foreign Affairs, Trade and Development Canada, “Harper Government Introduces Legislation to Implement Free Trade Agreement with Honduras” (January 28, 2014)

• Today the government introduced the Canada-Honduras Economic Growth and Prosperity Act to implement the Canada-Honduras Free Trade Agreement as well as agreements on labour and environmental cooperation.

Foreign Affairs, Trade and Development Canada, “State of Trade Issue 8: Agriculture a Hot Export Sector for Canadian Trade” (January 28, 2014)

• Agriculture is one of the main drivers of Canada’s excellent export performance, says Minister Fast.

Foreign Affairs, Trade and Development Canada, “State of Trade Issue 7: Record Exports for Canadian Companies in Priority Markets” (January 28, 2014)

• “Thanks to our government’s proactive engagement with the countries of the Middle East and North Africa, Canadian businesses are increasingly successful in this region and our exports have reached record levels,” said Minister Fast.  

Foreign Affairs, Trade and Development Canada, “State of Trade Issue 5: Canadian Companies Continue to Benefit from Increased Bilateral Trade” (January 27, 2014)

• Canadian exports to China have reached record levels thanks to the Harper government’s focus on opening new markets.