Europe & CIS
EU says no transitional Brexit deal until October 2018
Under a best-case scenario in which EU leaders decide in December that sufficient progress has been reached in the Brexit talks to move to the second phase, a tentative timeline for the talks laid out in a document prepared by EU Brexit negotiator Michel Barnier indicates that negotiations on a transition will not begin until around February next year. They would then proceed in parallel with preliminary and preparatory discussions on Britain’s future relationship with the bloc, culminating in a deal to be finalized at the October 2018 European Council summit. That would leave time for ratification by national parliaments and the European Parliament before the U.K.’s leaving date in March 2019.
EU Parliament votes in favour of tougher anti-dumping rules
The new rules would enable the EU to respond to unfair trade practices by targeting imports where prices are not market-based due to state interference. MEPs are also negotiating further plans to update the EU’s trade defence instruments with a view to raising tariffs against dumped or subsidised imports from countries that do not interfere extensively in the economy.
Eurasian Union says customs code will take effect 1 January
Four of the five member states (Armenia, Belarus, Kazakhstan and Russia) have completed the ratification process in their respective parliaments, with legislators in Kyrgyzstan yet to adopt the code. Under the code, which will in principle override the regulations of individual countries, declarations will be almost always be filed electronically rather than in hard copy, details required in the declarations will be streamlined, and clearance times are to be reduced from the current upper limit of 24 hours to four hours.
EU launches negotiations to modernise association agreement with Chile
Noting that the existing agreement is 14 years old and does not address the full range of trade and investment issues, the two sides said the new negotiations will cover topics such as trade and sustainable development, help for small and medium-sized companies, anti-corruption, and trade and gender.
Fifth round of EU-Mercosur negotiations completed
This round saw substantive progress on negotiating texts on goods, services, government procurement, sanitary and phyto-sanitary matters, intellectual property, geographical indications, trade and sustainable development, small and medium-sized enterprises, technical barriers to trade, and dispute settlement and other horizontal provisions. In addition, both sides made steps to prepare for an exchange of improved market access offers. Negotiators also agreed on dates for the next round, which will straddle the last week of November and the first week of December.
Egypt to receive trade support from European Bank for Reconstruction and Development
The facilities will allow three Egyptian banks to issue guarantees in favour of international commercial banks to cover the commercial payment risk of transactions the Egyptian banks undertake. The EBRD will also provide cash financing for pre-export and post-import financing.
[Global Trade Review]
E-trade giants a threat to African markets
[The East African]
Central banks of Sudan and Uganda sign trade facilitation agreement
[Sudan News Agency]