Latest news with #tradeAgreements
Zawya
11-07-2025
- Business
- Zawya
Foreign minister, Kuwaiti counterpart co-chair fifth Jordanian-Kuwaiti joint committee
AMMAN — Deputy Prime Minister and Foreign Minister Ayman Safadi and Kuwaiti Foreign Minister Abdullah Ali Al Yahya on Wednesday co-chaired the fifth session of the Jordanian-Kuwaiti Higher Joint Committee, held in Kuwait. The meeting reiterated the deep-rooted ties between Jordan and Kuwait and explored ways to further enhance cooperation across a range of sectors, in line with the directives of His Majesty King Abdullah and Amir of Kuwait Sheikh Meshal Al Ahmad Al Jaber Al Sabah. Both ministers underscored the significance of holding the fifth session as a reflection of the two countries' shared commitment to institutionalising and expanding bilateral cooperation, according to a Foreign Ministry statement. Discussions focused on increasing trade volume, enhancing cooperation in food and pharmaceutical security, encouraging private-sector integration, organising joint events, facilitating cross-border trade, and activating all provisions of the bilateral economic cooperation agreement. Safadi expressed appreciation for Kuwait's hosting of the session and commended the exceptional efforts made in preparing for the meetings. He also praised the scale of Kuwaiti investments in Jordan, describing them as a "strong indicator of investor confidence in Jordan's business environment." For his part, Al Yahya welcomed the upcoming meetings of the Jordanian-Kuwaiti Joint Trade Committee, scheduled to be held in Kuwait in 2026. During the session, the two ministers signed six agreements, including an executive programme for the 2025–2027 tourism cooperation agreement, an executive programme for cultural and artistic cooperation for 2025–2028, an executive programme for higher education and scientific research cooperation for 2025–2030, an executive program for labor mobility, an agreement waiving visa requirements for diplomatic passport holders, and a memorandum of understanding between Jordan's Diplomatic Institute and Kuwait's Saud Al-Nasser Al-Sabah Diplomatic Institute. A joint statement issued by the committee highlighted efforts to activate cooperation in healthcare, transportation, energy, civil service, social security, public administration, planning, media, agriculture, youth, and sports. It also reaffirmed both countries' commitment to coordinating on priority development projects supported by the Kuwait Fund for Arab Economic Development. The two ministers also discussed regional developments, with a particular focus on the ongoing Israeli aggression on Gaza, efforts to end the resulting humanitarian crisis and ensuring the immediate and sustained delivery of humanitarian aid. They expressed their support for the mediation efforts of Egypt, Qatar, and the US to achieve a permanent ceasefire in Gaza, emphasising the need for unified regional and international efforts towards that end. Safadi and Al Yahya reiterated the centrality of the Palestinian cause and the urgent need for a serious political process that leads to a two-state solution. They reaffirmed their commitment to the establishment of an independent, sovereign Palestinian state along the pre-1967 borders, with East Jerusalem as its capital, as the only path to achieving a just, comprehensive and lasting peace. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Yahoo
30-06-2025
- Business
- Yahoo
Here's how provinces are trying to remove Canada's internal trade barriers
Efforts to boost interprovincial trade have kicked into high gear amid the U.S.-Canada tariff war. Here's a look at some trade agreements, legislation and proposals among provinces and territories that are in addition to the New West Partnership between the four Western provinces that has been in place in some form since 2010. COMPREHENSIVE AGREEMENTS Manitoba and British Columbia: Manitoba Premier Wab Kinew announced on June 6 that his province is finalizing a memorandum with B.C. to cut trade barriers. Ontario and Manitoba: Kinew and Ontario Premier Doug Ford signed a memorandum on May 14 to boost the movement of goods and labour between the two provinces, which would include direct-to-consumer alcohol sales. New Brunswick and Newfoundland and Labrador: The two provinces signed a commitment to look into knocking down labour and trade barriers on April 24. Andrew Furey, then-premier of Newfoundland and Labrador, said that rules requiring provincial seafood processing plants to favour local fish are not up for discussion. Atlantic Canada: New Brunswick Premier Susan Holt proposed on March 21 an Atlantic Canada free-trade zone for goods and services as a direct response to U.S. tariffs, saying her province is prepared to adopt similar legislation to that in Nova Scotia aimed at removing barriers. INDUSTRY-SPECIFIC DEALS B.C. and Alberta: B.C. Premier David Eby and Alberta Premier Danielle Smith announced a deal on wine sales in 2024. The agreement took effect this January and allows B.C. wineries to sell directly to Alberta consumers. LEGISLATION British Columbia: The province introduced legislation in March described as giving B.C. "new tools … to respond swiftly and nimbly" to U.S. tariffs, such as giving cabinet the ability to implement some regulations without going through the legislature. The bill, providing for the removal of interprovincial trade barriers, eventually passed without the section that would have given cabinet power to bypass the legislature. Manitoba: The province passed a trade bill in June removing barriers in trade for some goods and services between Manitoba and other jurisdictions with similar laws. Nova Scotia: The province tabled a bill in February aimed at eliminating trade barriers with other jurisdictions, although the legislation was later amended after concerns about powers to override regulatory bodies. Ontario: The provincial government tabled a bill in April, which officials say would make Ontario the first Canadian government to unconditionally remove all current exceptions to interprovincial free trade. If passed, the bill would also remove barriers against people in certain jobs seeking employment in different provinces, and would allow direct-to-consumer sales of alcohol to Ontarians across provincial boundaries. Prince Edward Island: The province introduced legislation in April for both a reduction of interprovincial trade barriers and to promote labour mobility, allowing it to accept product standards from other jurisdictions with similar trade rules in place. The bill would also allow P.E.I. to recognize licensed professionals certified in other jurisdictions within 10 business days. Quebec: The government said in May it was planning to withdraw at least five of its exemptions to the Canadian Free Trade Agreement, including requirements on racehorses, funeral directors, real estate brokers, ferry authority board members and the sales of explosives. Quebec also says it is looking to harmonize regulations on consumer goods with other provinces. Yukon: It said on June 24 that it is removing five exemptions under the Canadian Free Trade Agreement and reviewing others. The government says limitations on procurement, real estate licensing, forestry, fisheries and agricultural land use have are being removed for trade with other Canadian jurisdictions. It says the items were chosen because they were the least complex to remove with the least impact on local residents. This report by The Canadian Press was first published June 30, 2025. Canadian Press Staff, The Canadian Press Sign in to access your portfolio
South China Morning Post
08-06-2025
- Business
- South China Morning Post
Angered by Trump's ‘unjustified' tariffs, Australia chases new trade deals
Australia will push to expand free-trade agreements with other countries to reduce its reliance on the United States, Trade Minister Don Farrell said on Sunday, slamming President Donald Trump's 'unjustified' tariffs. Advertisement Australia is a close US ally but has been slugged with a blanket 10 per cent tariff on goods exported to the US, rising to 50 per cent on steel and aluminium, as part of Trump 's sweeping global duties. 'I'm hopeful that those countries around the world who do believe in free and fair trade can reach an agreement to extend free-trade agreements across the globe, so that irrespective of what the Americans might choose to do, we have a greater diversity of trading partners,' Farrell told Sky News. He was speaking after talks last week in Paris with the World Trade Organization, the Organisation for Economic Co-operation and Development (OECD) and other countries which he said had focused on preventing 'protectionism' and encouraging free and fair trade. 03:01 US appeals court allows Donald Trump's tariffs to stay in effect US appeals court allows Donald Trump's tariffs to stay in effect Trade between Australia and the US is worth an estimated A$100 billion (US$65 billion) a year, with Australia buying more from the US than it is selling, Farrell said.
Malay Mail
25-05-2025
- Business
- Malay Mail
Tengku Zafrul: Asean wraps up Atiga upgrade talks, to sign expanded free trade pact in October
KUALA LUMPUR, May 25 — Members of the Association of South-east Asian Nations (Asean) today concluded negotiations for an expanded Asean Trade in Goods Agreement (Atiga), a move it said would bolster the existing free trade pact and beef up trade within the bloc. Minister of Investment, Trade and Industry Datuk Seri Tengku Zafrul Abdul Aziz said the agreement is expected to be signed in October, together with the third upgraded Asean-China Free Trade pact. Details of the new trade agreements were not disclosed, but Zafrul said Atiga, for example, would have 'forward-looking and meaningful' provisions to deepen economic integration and boost 'supply chain resilience'. 'Both agreements are expected to be signed on the sidelines of the 47th Asean Summit in October 2025 here in Kuala Lumpur,' he told a press conference after concluding the AECC meeting this morning. 'We remain confident that these milestones will serve as a pivotal enabler for Asean's sustained growth and competitiveness.' MORE TO COME
Yahoo
11-05-2025
- Business
- Yahoo
Starmer's trade deals will do nothing to fix Britain's broken economy
After a torrid time since July's election, last week must have seemed glorious for both the Prime Minister and the Chancellor. Vindication and deliverance at last! Not only did the Bank of England announce an interest rate cut, perhaps with the prospect of more cuts to come, but the UK managed to secure trade agreements with India and the US. Is this the turning of the corner that both have been longing for? The interest rate reduction, although welcome, is no game-changer. As I wrote last week, it has been possible simply because of the weakness of the economy. This hardly sets the economic pulse racing. The two trade deals, although not completely surprising, are more newsworthy. Both are significant in relation to what they say about Brexit. It may seem incredible that nearly nine years after the Brexit vote, we are still debating whether the whole thing makes sense. But we are. At the risk of going over old ground, let me make it clear that most of those economists who were in favour of Brexit, myself included, conceded that there were some losses to be borne from leaving the customs union and the single market. Quite apart from the political factors, which many of us regarded as paramount, the essence of the economic case for Brexit was that there were two positive factors to lay beside the likely losses. The first of these was the ability to sign trade agreements with various countries around the world, and the second was the ability to break away from the stifling EU regulatory regime. With regard to trade agreements, the Remainers argued that our prospects for securing good deals were slim because, as a medium-sized country, about the sixth- or seventh-largest in the world, we would carry very little clout compared to the EU, which is the second- or third-largest economy in the world, not that far behind the United States. I never disputed this point. My argument always was that clout isn't everything. Indeed, there was a major factor offsetting clout, namely the ability actually to make an agreement. Getting the EU to forge a trade deal with almost anybody was always going to be extremely difficult because it involved getting the agreement of 28 member countries, each of which had very different interests. Not to mention that one of those countries is France. So the fact that we have managed to secure an agreement with India – already the world's fourth-largest economy, while the EU is still engaged in negotiations which may lead nowhere, was both revealing and amusing. Much the same goes for the trade agreement we have managed to secure with the US. Of course, there is the predictable carping from all the usual suspects about what damage will be done to our economy from opening ourselves up to imports from India and America. We all know the old adage that there are only two inevitabilities in life, namely death and taxes. In fact, there are three. The third is opposition to tariff-free trade from producer groups, which fear competition from overseas. Nevertheless, it has to be admitted that neither of these deals will dramatically enhance the UK economy. With a following wind, the Indian deal may increase UK GDP by something of the order of 0.1pc. Although the US deal will give a major boost to the UK's car industry, the overall effect will be small because the trade deal's coverage is so limited. It stops well short of the full free trade agreement that has been on the table for several years, and is likely to remain there for several more, blocked by mounds of chlorinated chicken and hormone-treated beef. Notwithstanding the possible gains from trade agreements, most Brexit-supporting economists argued that the main economic benefits of Brexit would be realised from breaking away from the EU's regulatory ambit. Yet during the last Conservative government, there was next to no progress on this front and, unsurprisingly, there has been nothing from Labour. In fact, the travel has been in the opposite direction. Evidently, deregulation is 'difficult'. But it is a sad fact of economic life that major economic gains are rarely to be had by doing the easy things. After some years of negotiations, it may seem that securing trade deals with India and the United States are one of the hard things. I beg to differ. These are the easy things. Similarly, the looming 'reset' with the EU that Labour has been salivating over. It will bring scarcely any economic benefit to the UK and may even bring a net loss. The really hard thing that would make a difference is to take a scythe to large parts of the public sector in order to be able to reduce taxes. Instead, the Government is about to pour more money into the NHS in order to raise doctors' pay. The damage wrought by the increase in employers' National Insurance contributions and the large increases in the minimum wage would outweigh umpteen trade deals and any EU 're-set' combined. Mind you, there is one easy thing to do. If the Government is serious about boosting the economy, and especially if it is serious about reviving manufacturing, there is actually a lever to pull, namely to radically postpone the rush to net zero and dramatically reduce the price of energy to both businesses and consumers. One and a half cheers for the Government for securing these trade agreements. But on their own, they won't achieve much. Economic policy needs a complete change of direction. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
