A July-end deadline for finalizing a detailed work programme for agreeing new rules for liberalization of global trade will now be missed, the chief of the World Trade Organization (WTO) told international diplomats, prompting India and other developing nations to blame unnamed industrialized nations.

India and Australia are moving towards concluding negotiations for a proposed free trade agreement (FTA) by the end of this year, with both sides narrowing their differences on major issues. Australia is pushing for tariff reduction in dairy, fresh fruit, pharma, meats and wines. On the other hand, India wants zero duty on auto parts, textiles, and fresh fruits, including mangoes. "Differences are getting narrowed on these issues. Eight rounds have already been completed.

HCM CITY (VNS) — Viet Nam exported 2.71 million tonnes of rice in the first half at free on board (FOB) value of US$1.132 billion. The Viet Nam Food Association said this represented a year-on-year decrease of 9.6 per cent in volume and 12.71 per cent in value. Asian and African countries were the main buyers, with China remaining the largest importer. VFA chairman Huynh The Nang said the reasons for the fall in exports were not new: abundant supply, the appearance of new exporters, and intense competition.

OSAKA – Trade negotiators from the U.S. and Japan met Thursday in Tokyo to work out what they hope will be a final bilateral deal needed for the Trans-Pacific Partnership agreement. The meeting took place as Kyodo News reported that the government was discussing a nontariff framework for certain imports in return for allowing Japan to maintain high tariffs on rice.

TOKYO -- Japan is on track to reach agreement with six of 11 countries with which it has been negotiating on a bilateral basis as part of the Trans-Pacific Partnership trade pact. Japan effectively concluded talks with Malaysia, Singapore, Vietnam and Brunei, and is finalizing negotiations with Chile and Peru. Japan is pursuing bilateral negotiations in parallel with talks for a broad agreement between a total of 12 nations seeking to join the pact.

New Delhi: Moving swiftly on its decision to consider a free trade agreement with the newly formed Russia-led Eurasian Economic Union (EEU), India has initiated the process of setting up a joint study group (JSG) to study its feasibility. “The Commerce Ministry has sent out notes to all the ministries and departments concerned asking them to send their inputs on the areas the JSG should examine. An FTA with EEU makes both economic and strategic sense for us,” a ministry official told BusinessLine.

JB Cronjé, tralac Researcher, comments on developments in the TFTA negotiations on movement of business persons

The free trade agreement (FTA) between Vietnam and the Eurasian Economic Union (EAEU) represents a turning point and huge mutual benefit, said Nguyen Thi Thu Trang, Director of the World Trade Organisation Centre under the Vietnam Chamber of Commerce and Industry (VCCI).  She made the statement during a workshop held in Hanoi on July 7 to present and discuss the FTA signed on May 29 after more than two years of negotiations . 

HONG KONG — Willie Fung, a leader in the world’s bra industry, knows just what he will do if negotiators from the United States and 11 Pacific Rim nations complete a Trans-Pacific Partnership trade agreement this summer.

Party General Secretary Nguyen Phu Trong has pledged that Vietnam will proactively collaborate with the United States to conclude negotiations over the Trans-Pacific Partnership (TPP) trade accord. Trong was speaking of this at a meeting with U.S. Trade Representative Michael Froman in Washington, D.C. on Monday afternoon (local time) as part of his official five-day trip to the U.S. at the invitation of the U.S. administration.