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India Looks To Russian Coal To Lessen Dependence On US, Canada & Australia

India looks to Russian coal to lessen dependence on US, Canada & Australia. India and Russia are in talks to source coking coal in Russia’s Far East, as New Delhi is seeking to diversify from its traditional suppliers such as the US, Canada and Australia. In 10 years, the South Asian country is expected to need twice more coal than ...

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Nowcast Shows International Trade And Global Economy Cooling Down

After a continued surge last year, global trade and economic output have stagnated this year, according to UNCTAD’s nowcast published in the 2019 Handbook of Statistics. Merchandise trade is predicted to drop by 2.4% to US$19 trillion, after significant growth rates in 2018 (9.7%) and 2017 (10.7%). Trade in services is predicted to only increase by 2.7% to $6 trillion, a considerable ...

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India To Introduce Border Adjustment Tax: Piyush Goyal

Commerce and Industry Minister Piyush Goyal recently said India was looking at introducing a “border adjustment tax” on low cost imports from free trade partner countries, which will bring level playing field between such imports and locally produced goods. The proposed tax is perfectly compliant with the World Trade Organisation’s (WTO) rules on multilateral trade, Goyal said in his address ...

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UAE-New Zealand Trade Sees New High

The bilateral trade between New Zealand and the United Arab Emirates witnessed a 29 per cent increase during the past one year. The bilateral trade for the year ending October 2019 went up to NZ$4.08 billion ($2.62 billion) from NZ$3.16 billion ($2.03 billion) during the year ending October 2018, witnessing a 29 per cent increase. New Zealand’s trade with the ...

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Japan Reluctant To Join RCEP

Japan is not considering signing a Chinese-backed regional trade pact without India, the top Japanese negotiator revealed ahead of a series of diplomatic exchanges in the coming weeks that include a visit to Delhi by Prime Minister Shinzo Abe. India announced earlier that it was withdrawing from the Regional Comprehensive Economic Partnership, citing the deal’s potential impact on the livelihoods ...

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EU and UK Trade Suffers

The European Union has been hit hard by the slowdown in international trade, with the UK suffering the most. Global trade continued to slide in the third quarter, the OECD said, approaching two-year lows as the US-China trade war and Brexit uncertainty took a heavy toll. Exports from the EU fell 1.8 per cent while imports dropped 0.4 per cent. ...

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Experts Call For Improved Implementation Of EU FTAs

The Association of European Chambers of Commerce and Industry, Eurochambres, and the European Committee of the Regions, recently published the results of a joint survey aiming to identify opportunities and obstacles in the implementation of EU’s Free Trade Agreements. The trade agreements are designed to overcome barriers in EU’s trade relations with third countries. They create better trading opportunities for ...

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Canada Working Towards Strengthening Trade Relations

The Canadian government has been working towards strengthening trade relations and safeguard against America’s influence over their domestic markets via economic nationalism. Initially, Canada was worried about foreign investments in particular industries, like the railroads, and required that the majority of directors of any company that received government money could not come from outside the country. Another approach was to ...

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UK Eyeing ‘Super Canada Plus’ Trade With EU

Boris Johnson declared that Britain can have a ‘super Canada-plus’ free trade agreement with the EU and by the end of 2020 there will be no need for political alignment. However, this ambition can be thwarted by some unknown factors such as time, negotiation challenges and unfavourable election result. Trade talks cannot legally begin until the UK leaves the EU, ...

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Canadian Trade Deal With America And Mexico Awaits Approval

Trade agreement between U.S., Canada and Mexico is yet to be approved. Republicans and Democrats have both seized upon the not-yet-ratified Canada-U.S.-Mexico Agreement (CUSMA) on trade to try to win the argument over who’s properly conducting the nation’s business amid the impeachment fight.  A new trade agreement that would govern more than three-quarters of all Canada’s exports is hanging in ...

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