Dear International Trade and Investment Committee Members,
Here are the international trade and investment articles and publications of interest for the week of October 13 to October 19. Andrew Lanouette has curated this week’s edition. Andrew is International Trade Counsel at Cassidy Levy Kent in Ottawa, practising in the areas of international trade law and public procurement. He is also the Co-Chair of the International Trade and Investment Committee.
News
- Canada’s eagerness to do business with Asia is starting to draw attention in the continent, especially in Southeast Asia.
- Thailand, a key member of ASEAN group of countries, sent a senior delegation to Vancouver and Toronto last week, culminating in an extended business promotion seminar at the Vancouver Club.
- Russia’s economic development minister Aleksey Ulyukaev has claimed that sanctions against Moscow will not be extended, but insisted that Moscow has no plans to cancel its own counter-sanctions until the West drops theirs.
- “Most of the sanctions against Russia were adopted as short-term, emergency measures, and expire within one or two years, sometimes less. I believe that they can be dropped as soon as the sides reach an agreement,” said Ulyukaev, following a meeting with Vladimir Putin in his Novo Ogaryovo residence.
- New Zealand and South Korean officials are holding free trade talks in Seoul for the next two days, as hopes rise for a deal to be concluded.
- The talks, scheduled for today and tomorrow in Seoul, are the ninth round of talks aimed at concluding a free trade agreement, Yonhap news agency reported, citing a statement from the South Korean government's Ministry of Trade, Industry and Energy, or MOTIE.
- Tembec is requesting that International Trade Minister of Canada The Honourable Ed Fast enter into World Trade Organization (WTO) discussions with China to resolve the trade dispute related to dissolving pulp.
- Today, Thursday 16 October 2014, WikiLeaks released a second updated version of the Trans-Pacific Partnership (TPP) Intellectual Property Rights Chapter. The TPP is the world's largest economic trade agreement that will, if it comes into force, encompass more than 40 per cent of the world's GDP. The IP Chapter covers topics from pharmaceuticals, patent registrations and copyright issues to digital rights. Experts say it will affect freedom of information, civil liberties and access to medicines globally. The WikiLeaks release comes ahead of a Chief Negotiators' meeting in Canberra on 19 October 2014, which is followed by what is meant to be a decisive Ministerial meeting in Sydney on 25–27 October.
- Canada has made a formal complaint to the World Trade Organization over China imposing what Ottawa says are unfair duties on Canadian companies that ship a certain type of wood pulp there.
- The biggest issue with the Canada-Europe free trade deal is expectations. Can it deliver on the considerable promises made by its backers?
- One of its most vocal promoters is former Quebec Premier Jean Charest, who clearly wants the Comprehensive Economic and Trade Agreement (CETA) to be the biggest part of his political legacy.
Government Announcements/Press Releases
- Director-General Roberto Azevêdo, as chair, reported to the Trade Negotiations Committee on 16 October that despite intensive consultations “we have not found a solution to the impasse” more than two months after the deadline on the Trade Facilitation Agreement had passed. “This could be the most serious situation that this organization has ever faced,” he said, and while members should keep working for a solution to the current impasse, “we should also think about our next steps”.
- Brazil notified the WTO Secretariat on 16 October of a request for consultations with Indonesia regarding certain measures imposed by Indonesia on imports of chicken meat and chicken products.
- Prime Minister Stephen Harper today issued the following statement to mark the Business Development Bank of Canada’s Small Business Week, which runs from October 19-25, 2014:
- “Today marks the beginning of the Business Development Bank of Canada’s Small Business Week, a time to acknowledge and honour the immense contributions that small business owners and entrepreneurs make to the prosperity of our country and to the standard of life we enjoy.
Commentary
- Analyzing the attitudes and opinions of Canadian executives for the past couple of years, one could get the impression there is a lack of confidence in Canada’s economic prospects. The C-Suite foresees sluggish economic growth. It hopes a lower dollar will increase competitiveness. Enthusiasm about corporate prospects is muted.
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