EU-Bosnia and Herzegovina - Amendment of Protocol 2 on Rules of Origin
Published Council Decision (EU) 2024/2955 concerns the amendment of Protocol 2 to the Stabilisation and Association Agreement between the EU and Bosnia and Herzegovina. The amendment aims at increasing the permeability between the Regional Convention on pan-Euro-Mediterranean preferential rules of origin and the transitional rules of origin. Link
EU-Switzerland - Amendment of Protocol 3 on Rules of Origin
The published Council Decision (EU) 2024/2957 concerns the establishment of the position to be taken on behalf of the EU within the Mixed Committee. This decision concerns the amendment of Protocol 3 to this agreement regarding the permeability between the Regional Convention on Pan-Euro-Mediterranean Preferential Rules of Origin and the Transitional Rules of Origin. Link
EU-Norway - Amendment of Protocol 3 on Rules of Origin
Council Decision (EU) 2024/2965 concerns the establishment of the position to be taken on behalf of the EU within the Joint Committee and deals with the amendment of Protocol 3 to the Agreement as regards the permeability between the Regional Convention on Pan-Euro-Mediterranean Preferential Rules of Origin and the Transitional Rules of Origin. Link
EU-Iceland - Amendment of Protocol 3 on Rules of Origin
Council Decision (EU) 2024/2966 concerns the establishment of the position to be taken on behalf of the EU within the Joint Committee and deals with the amendment of Protocol 3 to this agreement regarding the permeability between the Regional Convention on Pan-Euro-Mediterranean Preferential Rules of Origin and the Transitional Rules of Origin. Link
EU-Jordan research and innovation partnership
On behalf of the European Union, of an Agreement in the form of an Exchange of Letters amending and supplementing the Agreement on Scientific and Technological Cooperation between the European Union and the Hashemite Kingdom of Jordan, setting forth the terms and conditions for the participation of the Hashemite Kingdom of Jordan in the Partnership for Research and Innovation in the Mediterranean (PRIMA) has been released. The (EU) Council decided to sign a Scientific and Technological Cooperation Agreement with Jordan, setting forth the terms and conditions for participation. Link
EU – Colombia, Peru and Ecuador preferential trade: update to Harmonised System 2022
The Trade Committee established by the Trade Agreement between the EU and Colombia, Peru and Ecuador updated the list of working or processing operations required to confer originating status on products manufactured from non-originating materials.
Indonesia, Canada sign comprehensive economic partnership
Indonesia and Canada signed a Comprehensive Economic Partnership Agreement (CEPA) that aims to strengthen economic ties between the two G20 members, three years after negotiations began. The agreement will take effect in 2026 and was signed in Jakarta by trade ministers of both countries. Under CEPA, Indonesia will see liberalization of 90.5% of the total tariffs for goods entering Canada with a trade value of $1.4 billion. Two-way trade between Indonesia and Canada was $3.4 billion last year, according to with Indonesia’s trade ministry. Canada has estimated bilateral trade at $5.1 billion in 2023. Canada’s main exports to Indonesia were agriculture products fertilizers, while Indonesia mainly exported machinery and electrical machinery as well as garments and footwear.
Iran - EAEU FTA to be implemented in early 2025
The proposed Free Trade Agreement (FTA) between Iran and the Eurasian Economic Union (EAEU) has reached a significant milestone, receiving unanimous approval from the Economic Commission of the Iranian Parliament. The agreement now awaits final ratification in Parliament’s plenary session, marking a transformative step in strengthening Iran’s economic integration with the region. According to the Deputy for International Business Development at the Trade Promotion Organization (TPO), Iran has already established 20 preferential and free trade agreements with various countries, but the Iran-EAEU FTA stands out as the first multilateral agreement of its kind involving the Eurasian bloc. The agreement was signed in December 2023 by the Industry Ministers of Iran and the five member states of the EAEU: Russia, Armenia, Kyrgyzstan, Belarus, and Kazakhstan.
Norway planning to ratify India-EFTA free trade agreement next year
Norway plans to ratify the India-EFTA free trade agreement next year. India and the four-nation EFTA (European Free Trade Association) bloc inked the agreement, officially dubbed as Trade and Economic Partnership Agreement (TEPA), on March 10 this year. However, it needs ratification from the four countries for its implementation. The agreement came up for discussions during the India-Norway Business Forum which was held in Mumbai.
Philippines - Chile to launch FTA talks
The Philippines and Chile will launch negotiations on a possible Comprehensive Economic Partnership Agreement (CEPA). The Department of Trade and Industry (DTI) and Chilean Foreign Minister are set to sign on December 6 a joint statement officially launching negotiations for a CEPA, potentially the Philippines ‘first free trade agreement with a Latin American country.
South Korea strikes economic partnership deal with Georgia
South Korea has struck an economic partnership agreement (EPA) with Georgia, marking the 26th free trade pact signed by Asia’s No. 4 economy. Under the agreement, South Korea and Georgia will respectively abolish tariffs on 93.3 percent and 91.6 percent of imports from each other within 10 years. The announcement came about a year after South Korea and Georgia initiated the negotiations. Once implemented, Georgia will immediately abolish tariffs on new and used automobiles, including environment-friendly models. Other major products that will benefit from the agreement include food, cosmetics, pharmaceutical goods and electronics. In return, South Korea will lift tariffs on wine, liquor and sparkling water, providing domestic consumers with a wider variety of products. The EPA, however, excludes agricultural products such as rice and honey, considering potential protests from the agricultural industry.
Thailand agrees first FTA with trade bloc in Europe
Thailand and the European Free Trade Association (EFTA) plan to ink a free-trade agreement in January next year, with the goal of increasing export opportunities and attracting more European investors to Thailand. Minister Pichai Naripthaphan was announcing successful negotiations for the Free Trade Agreement (FTA) between Thailand and the European Free Trade Association (EFTA), comprising Switzerland, Norway, Iceland and Liechtenstein. This agreement marks a significant step in Thailand's efforts to strengthen trade relationships, expand export opportunities and attract foreign investment, aligning with Prime Minister Paetongtarn Shinawatra's directives to pursue FTAs with key trade partners. This FTA covers 15 comprehensive areas, such as trade in goods, rules of origin, trade facilitation, services, investment, intellectual property, public procurement, competition, sustainability and SME development.
Thailand is first FTA with a European trade bloc, setting modern standards and addressing sustainable development goals. It is expected to pave the way for future agreements with other key partners, such as the European Union. The Ministry of Commerce will present the finalised agreement to the cabinet for approval, with plans to sign it during the upcoming World Economic Forum (WEF) in Davos, Switzerland, in January next year. After parliamentary endorsement, the agreement will be ratified, enabling its implementation to drive Thailand's economic growth, said the minister. Thailand's primary exports to the EFTA include jewellery, watches, canned seafood, machinery, cosmetics and rice, while imports focus on gems, gold, pharmaceuticals, scientific equipment and fresh seafood.
UAE finalises economic partnership deal with Eurasian bloc
The UAE finalized an economic agreement with the Eurasian Economic Union aimed at increasing non-oil bilateral trade through the reduction of tariffs and elimination of trade barriers. The agreement will encompass the five members of the EAEU bloc - made up of Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. Bilateral non-oil trade between the UAE and the Eurasian Economic Union reached $13.7 billion during the first-half of this year, according to a statement. That’s an increase of nearly 30% on an annual basis.
UK and EU to begin formal talks on resetting ties next year
The UK and European Union will begin formal talks on a reset of their relationship next year, as Britain’s Chancellor of the Exchequer Rachel Reeves said she wanted to deepen economic ties with the bloc to boost growth. Mending ties with the EU has become one of the key features of Prime Minister Keir Starmer’s foreign policy since he won power in July, after the former Tory administration took Britain out of the bloc and oversaw a post-Brexit decline in trade. The EU continues to be the UK’s largest trading partner, but firms have faced extra cross-border red tape and bureaucracy since the divorce.
UK sees first free-trade agreement with Malaysia with its CPTPP entry
The United Kingdom will officially become a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on Dec 15, marking the first-ever free-trade agreement (FTA) between the UK and Malaysia. The FTA will eliminate 94% of tariffs between Malaysian and UK goods, including key sectors such as automotive, aerospace, and cocoa, according to a statement. With the implementation of the CPTPP, the UK is expected to see increased exports of products such as chocolate and cars to Malaysia as well, and the FTA will further open the UK market for Malaysian commodities like palm oil, rubber, and timber.
USA and Taiwan’s first FTA now in force
The first agreement signed under a trade initiative between Taiwan and the United States will come into force on Tuesday, both governments announced, as Taipei hopes a raft of ongoing talks will eventually lead to a free trade deal. Taiwan was excluded from the U.S.-led Indo-Pacific Economic Framework, part of the Biden administration's effort to counter what it says is Beijing's increasing economic and military coercion in the region, when it was set up in 2022. But the United States then set up the U.S.-Taiwan Initiative on 21st Century Trade, which joined the U.S.-Taiwan Economic Prosperity Partnership Dialogue and Technology Trade and Investment Collaboration Framework the two sides have. In a statement, United States Trade Representative Katherine Tai said the first agreement under the 21st Century Trade initiative that will come into force covers areas including anti-corruption, customs administration and trade facilitation, and small and medium-sized enterprises.