February 2007 : Newsletter of CUTS - Regional Economic Cooperation

India demands MFN status before SAFTA

Trade authorities of India and Pakistan have failed to reach a consensus to sort out issues regarding implementation of SAFTA, as the neighbouring country insists on most favoured nation (MFN) status before removing non-tariff barriers (NTBs).
(The International News, February 22, 2007)

Thailand Cabinet gives nod to Thailand-Japan free trade deal

The Thailand government approved the proposed free trade agreement (FTA) with Japan Tuesday, paving the way for the signing of the pact in April 2007. Prime Minister Surayud Chulanont told reporters that the government has approved the draft Japan-Thailand Economic Partnership Agreement without amendments, following debate of the bill in the National Legislative Assembly.
(ETNA English News, February 21, 2007)

South Korea, US may hold farm trade talks

South Korean and US envoys will likely to meet early March 2007 to try and smooth out friction in their farm trade before what could be a key meeting in a separate bilateral trade agreement (BTA), South Korea said. US has recently suggested having a high-level meeting to discuss the agriculture sector on March 5 or 6, 2007 and we are considering it positively,” Park Hae-sang, deputy minister at the agriculture ministry said in a news briefing.
(Daily Times, February 22, 2007)

FTAs with Sri Lanka and China: Pakistan failed to take advantage of FTAs

Pakistan has not been able to take the desired advantage from the two FTAs with Sri Lanka and China. Karachi Chamber of Commerce and Industry (KCCI) President Majyd Aziz stated this while presiding over the inaugural meeting of the KCCI Special Committee on Regional Economic Affairs.
(Daily Times, February 22,2007)

Peru And China To Explore Possible FTA

President Alan Garcia announced that Peru and China would conduct a feasibility study towards a possible FTA in the future. Garcia confirmed that the Chinese government had sent a letter wishing to start initial analysis of the commercial treaty. "Today Peruvian and Chinese officials began working on laying the groundwork for such a treaty and we hope that this will eventually open the door to the Chinese market for Peru", he said.
(All Headline News, February 16, 2007)

 BISECT meet discuss schemes

Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation (BIMSTEC) member countries discussed about business travel sticker scheme, visa exemption scheme and simplification of travel visa within countries in their two-day meeting in Kathmandu.
(The Rising Nepal, February 02, 2007)

CAFTA Coalition Releases Spanish-Language Monitoring Report

February 1, 2007 was to mark the implementation of the Dominican Republic (DR)- Central America Free Trade Area (CAFTA) in the Dominican Republic, but once again the process has been delayed. The Dominican Congress ratified the agreement in September 2005 but the imbalanced power structure of DR-CAFTA has allowed the US to repeatedly delay implementation in a bid for further concessions from that country.
(Common Dreams.org, February 01, 2007)

CARICOM Trade Ministers to meet in Montego Bay

Caribbean Community and common Market (CARICOM) Trade Ministers will be meeting today in Montego Bay, St. James, for the 20th special meeting of the Council for Trade and Economic Development (COTED). Top of the agenda of the meeting is a review of the talks at the World Trade Organisation (WTO) and discussion on the WTO/Doha agenda.
(Jamaica Cleaner, February 02, 2007)

SADC on course to attain free trade area

With just over 12 months remaining before the Southern African Development Community (SADC) region can create its FTA, Member States remain confident that they can move a gear up to iron out outstanding impediments for the region to achieve set targets. Since 2000, SADC countries have been implementing a programme towards creating a FTA by 2008, a Customs Union by 2010, a Common Market by 2015 and a Monetary Union by 2018.
(Nyasa Times, February 03, 2007)

What Kind of Integration Does Latin America Need?

Never before has Latin America needed so much political and economic integration, and never was it so near to achieving it, amid an increasing popular demand for unity in the region. The area has witnessed an encouraging wave of change, including a greater awareness of the importance of joint efforts to face the challenges of a multinational-led globalisation aimed at maintaining the grip on global economy.
(Latin American News Agency, February 2007)