State trade missions, EU trade actions against Huawei, more cooperative trade diplomacy, trade and development, Russia and trade sanctions and the ECJ, are just some issues that have been highlighted during the last few weeks in the world of global trade diplomacy. Here are some specifics:
…..’Expenses’ fostering sales to foreign markets for Virginia goods, services and agricultural products should be seen as an ‘investment’ in the Virginia economy. The same is true for promoting foreign direct investment (FDI) into Virginia. State’s have a crucial role in promoting global trade and investment.These expenditures are critical for economic development and job creation. They are crucial in today’s global economy. “Virginia Asia Trade Trip.” Richmond Times-Dispatch (10.23.14).
….. The EU dropped its Huawei case involving illegal subsidies and has assumed a more cooperative trade diplomacy than the confrontational style of U.S. trade relations. The EU is negotiating a bilateral investment treaty with China. “EU Drops Case Against Huawei.” Reuther’s (10.20.14).
….. The new World Trade Report 2014 looks at how four recent major economic trends have changed how developing countries can use trade to facilitate their development. It concludes that this represents a new era in trade and development. These trends are: (i) the economic rise of developing economies; (ii) the growing integration of global production through supply chains; (iii) the higher prices for agricultural goods and natural resources; (iv) the increasing interdependence of the world economy. WTO World Trade Report 2014.
….. Economic development & corporate relocations.It’s about location & not just state incentives.Business environment is important also. “Bechtel Relocates to Virginia.” Washington Post (10.20.14).
….. Russia filed a legal action against the EU in the European Court of Justice as to EU’s trade sanctions over the Ukraine. Might be successful. Next stop the WTO legal system over U.S. sanctions? “Russia Takes the EU to Court.” Financial Times (10.17.14).
….. A WTO panel just ruled in favor of the U.S. against India. This case related to India’s restrictions on agricultural imports from the U.S. based on its regulations regarding Avian Influenza. The panel held that under the SPS agreement India did not establish, among other items, its regulations were based upon ‘relevant international standards’ (Article 3.1 of the SPS Agreement) nor based upon a ‘risk assessment.’ (Article 5 of the SPS Agreement). “U.S. – India Panel Decision.” WTO News (10.14.14).