Ecuador and Turkey on Tuesday began the first round of negotiations for a trade development agreement. The negotiations started in the Turkish capital of Ankara, and talks were held between delegations of both countries, Ecuador's Foreign Ministry said in a statement. Ecuador intended to reach an agreement with favorable conditions for both sides as early as this year, Ecuador's chief negotiator Mentor Villagomez said. "We encourage the agreement in order to boost bilateral exchange, for which there is great potential," Villagomez said in a statement.

(Reuters) - The head of the World Trade Organization on Monday dismissed the notion that the Doha round of trade negotiations was dead, and held out hope that a band of smaller countries might help prod India, China and the United States toward agreement. WTO Director General Pascal Lamy said after nearly a decade of discussion, most of the trade topics on the table were "reasonably ripe for conclusion". Lamy has urged the WTO's 153 member countries to focus on an "early harvest" of what can be agreed now and leave the most difficult issues for later.

The Korea-European Union free trade agreement goes into effect on July 1, promising to remove nearly all tariffs within in five years, boost two-way trade and Korea’s profile in the EU and move the Korean economy a step closer to advanced status.  However, getting the maximum benefits will be challenging.  The FTA, the first free trade pact the EU has signed in Asia, will give Korean companies price competitiveness and first-mover advantage over Asian neighbors in the European market. 

New Delhi, June 13 (PTI) At a time when the Indian automobile industry is strongly opposing lowering of import duty in the proposed India-EU FTA, Tata group chief Ratan Tata has favoured cutting tariff on vehicles and components coming from overseas. In an interview to the market research firm JD Power, Tata said such high import duties are unrealistic and create an artificial barrier of protection for local companies.

Canada is committed to concluding free trade negotiations with India by 2013 and increasing levels of bilateral trade, according to the country's Minister of International Trade. Speaking following a round table meeting on bilateral business prospects on June 9, Ed Fast said strengthening and increasing trade and investment with India would bolster Canadian economic prosperity.

Johannesburg — Africa's proposed Free Trade Area (FTA) would require better transport infrastructure and strategies to reduce poverty, President Jacob Zuma said in Johannesburg on Sunday. "We need to align developmental strategies and programmes aimed at poverty alleviation, under-development, food security and the like across national, regional and continental boundaries," he said in remarks prepared for delivery. He was speaking at the SADC Common Market for Eastern and Southern Africa (Comesa) and the East African Community (EAC) summit.

VNEconomyNews.com - Shrimp export processing plants have expressed concern at the shortage of raw material, as the ‘dead shrimp’ scenario continues to worsen in the Mekong Delta region. According to the agriculture industry and seafood companies in the region, the material scarcity will reach its peak within the next one to two months. At present, plants in Ca Mau Province are only operating at 50-60 percent of their capacity owing to shortage of material.

VNEconomyNews.com - Total Vietnamese exports to the US in the first four months of this year reached US$5.05 billion, an increase of 21 percent over last year’s same period, announced the US Census Bureau. The export value of Vietnam’s five major products to the US also increased with garments topping the list earning US$2 billion. They were followed by footwear (nearly US$600 million), wood products (more than US$520 million), machinery, electrical equipment and audio-recording devices (US$263 million), and seafood (US$200 million).

(Reuters) - Jason Speer is eagerly eyeing Colombia's booming oil sector for his Illinois-based company's float valves, but fears his Canadian competitors will get there first. In the race for new exports to fast-growing, energy-rich Latin America, U.S. manufacturers and farmers say the United States has squandered a lead over Canada by delaying a free trade pact with Colombia and now risks falling behind.

NIZHNY NOVGOROD, Russia, June 10 (Xinhua) -- Moscow will lift its ban on fresh vegetable imports from the European Union (EU) after receiving safety guarantees, said Russian President Dmitry Medvedev at the summit with the EU here on Friday. Russia is ready to resume vegetable imports if EU agencies give safety guarantees, he told a news conference, adding that specialists from the two sides will draft an appropriate food safety certification over EU vegetable soon.