EU moves to remove barriers to data flows in trade deals
“The EU has drafted provisions … to be inserted in future trade agreements which tackle protectionist measures by third countries restricting the flow of data. They should also ensure that the bloc’s strict data protection rules will not be undermined. In addition, the articles on data flows and data protection will be excluded from any investment court set up as part of a trade deal to settle disputes, ensuring that data protection issues will be under the jurisdiction of the EU’s highest court.”
UK business leaders propose hybrid post-Brexit trade deal
“The Institute of Directors (IoD), whose members include executives of UK companies of all sizes, puts forward the concept of a ‘partial customs union’ covering industrial goods and processed agricultural products – two areas that are core to the country’s economy. The IoD argues that this would facilitate the flow of goods across UK-EU borders, but also allow the UK to forge its own trade agreements – both alongside EU negotiations and with countries with which the EU has not yet pursued trade deals.”
Saudi Arabia and Italy sign MOU on trade and investment cooperation
The memorandum of understanding was signed between the Council of Saudi Chambers of Commerce and Industry and the Italian export credit agency SACE.
UAE signs MOU on trade infrastructure opportunities in India
“The agreement will see discussions take place on a multi-modal logistics park and hub in Jammu, comprising warehouses and specialised storage solutions that will also encourage inter-modal transfer of containers, bulk and breakbulk cargo.”
White Nile State and South Sudan resume trade
“The Minister of Commerce said, in statement to the press at Joda Crossing at the borders with the South Sudan, that the opening of the crossings would bring a number of benefits including the reduction of smuggling of goods, the development of economic resources and the control of the trade movement between the two countries besides the actual contribution to the stability of the border trade movement and revenues collection. The Minister of Trade stressed that the trade ministry would make the necessary arrangements with the White Nile State to facilitate the trade movement through the single window.
[Sudan News Agency]
UK government expands financing options for trade with Nigeria
“This Local Currency Financing structure follows the same format as a conventional buyer credit in sterling or any other currency, except that now Nigerian businesses buying British goods or services and taking out a loan in Naira from a bank in Nigeria can benefit for a UK Government-backed guarantee. This can enable businesses to manage foreign exchange risks and, many times, to negotiate better terms with local banks.”
[This Day Live]