The Israeli government has announced that South Korea and Israel will begin free trade talks with the goal to sign a trade pact by April. Industry, Trade and Labor Minister Shalom Simchon made the announcement at the World Trade Organization in Geneva. Both sides hoped that the zone could be active by April 2012, he said. Simchon met last Sunday with Korean trade minister Kim Jong Hon to discuss the matter. Simchon said before the meeting that a free trade zone would greatly increase trade between the two countries.

The Israeli government has announced that South Korea and Israel will begin free trade talks with the goal to sign a trade pact by April. Industry, Trade and Labor Minister Shalom Simchon made the announcement at the World Trade Organization in Geneva. Both sides hoped that the zone could be active by April 2012, he said. Simchon met last Sunday with Korean trade minister Kim Jong Hon to discuss the matter. Simchon said before the meeting that a free trade zone would greatly increase trade between the two countries.

The Israeli government has announced that South Korea and Israel will begin free trade talks with the goal to sign a trade pact by April. Industry, Trade and Labor Minister Shalom Simchon made the announcement at the World Trade Organization in Geneva. Both sides hoped that the zone could be active by April 2012, he said. Simchon met last Sunday with Korean trade minister Kim Jong Hon to discuss the matter. Simchon said before the meeting that a free trade zone would greatly increase trade between the two countries.

China needs annual export growth of at least 15 percent to ensure stable economic expansion as the rate of domestic investment cools, the head of the trade ministry's think-tank said in comments published on Tuesday. "We just can't tolerate the simultaneous fall in investment, consumption and exports," Huo Jianguo, the head of Ministry of Commerce's research unit, said in an interview with the Shanghai Securities News. "A growth rate of 15 percent (in exports) is basically a benchmark and any growth below that would start to affect employment," Huo added.

In a decision issued on December 21, the Appellate Body of the World Trade Organization (WTO) has rejected the Philippines’ appeal against the dispute resolution panel ruling in August, that the excise taxes applied by the Philippines on imported distilled spirits are discriminatory.

The 13th round of negotiations on the long-discussed Japan-Australia Economic Partnership Agreement (EPA) has been held in Canberra, amidst encouraging signs concerning its possible completion. In November 2010, the two countries had agreed to re-energize the EPA negotiations that had begun in April 2007, and the 12th round of negotiations had taken place in January this year.

China will prolong its anti-dumping probe into imports of photographic paper from the European Union (EU), the United States and Japan for three months, the Ministry of Commerce (MOC) said Friday.The probe then will end on March 23, 2012, three months after the previous deadline of Dec. 23, 2011, said a statement on the MOC website.

The World Trade Organization upheld a ruling that Philippine taxes on imports of spirits such as whiskey and brandy made by Brown-Forman Corp. and Pernod Ricard SA (RI) are illegal, a victory for the U.S. and European Union.

In a decision issued on December 21, the Appellate Body of the World Trade Organization (WTO) has rejected the Philippines’ appeal against the dispute resolution panel ruling in August, that the excise taxes applied by the Philippines on imported distilled spirits are discriminatory.

At a recent meeting finalising a joint study on the proposed China-Japan-South Korea free trade agreement (CJKFTA), held in Pyeongchang, South Korea, a start was recommended to its negotiation as soon as possible. Representatives from the three countries discussed and approved details of the joint study at the meeting, and all three parties then signed a joint statement announcing its completion and proposing future CJKFTA negotiations.