KEY TRADE REMEDIAL UPDATES
WTO, FTAs
- DG Okonjo-Iweala urges members to seize the opportunity to deliver meaningful outcomes at the upcoming 12th Ministerial Conference (MC12) scheduled to be held in Geneva on 12-15 June
- Trade Ministers' statements published as MC12 kicks off in Geneva
- DG Okonjo-Iweala and the Chair of the agriculture negotiations urge members to support and adopt draft agriculture texts at MC12
- Japan gives CHF 125,000 to help least developed country members (LDCs) engage in fisheries subsidies talks at MC12
- Australia contributes CHF 70,000 to support LDCs' participation in MC12
- Draft texts on WTO response to the pandemic, including intellectual property (IP) response to pandemic sent to trade ministers attending the MC12 for review and possible approval
- Revised draft agreement on fisheries subsidies sets the stage for pivotal negotiations at MC12
- Philippines and Thailand sign a bilateral "Understanding on Agreed Procedures Towards a Comprehensive Settlement of the Dispute in Thailand - Customs and Fiscal Measures on Cigarettes from the Philippines" (DS371)
EU
- The European Commission reports on the eighth negotiation round with five Eastern and Southern African countries to deepen the existing Economic Partnership Agreement (EPA)
- India and France hope the India-EU trade pact to conclude before 2024
- India-EU trade deal talks to begin on 17 June
TRADE POLICY
India
- Ministry of Commerce & Industry notifies draft policy on General Authorization for Export after Repair in India (GAER) for Public/Industry comments
- Ministry of Commerce & Industry issues amendments in Para 2 (b)(i) of Handbook of Procedures 2015-2020 which provides the Guidelines for Applicants under ANF 4F
- Ministry of Commerce & Industry issuesamendments in Chapter 5 of the Handbook of Procedures 2015 20, related to Export Promotion Capital Goods Scheme to reduce Compliance Burden and enhance Ease of doing Business
- Ministry of Commerce & Industry issuesinclusion of agencies in Appendix 2G of Appendices and Aayat Niryat Forms of Foreign Trade Policy, 2015 20 in terms of Para 2.55 (d) of HBP 2015 20
UK
- Defence Secretary Ben Wallace announced that Britain will send M270 launchers to Ukraine
- The UK and Malaysia have signed a new agreement to develop cooperation on climate and biodiversity
- The UK, France, Germany, and the USA welcome the adoption of a resolution at the International Atomic Energy Agency (IAEA) Board of Governors responding to Iran's insufficient cooperation with the IAEA
- The UK is keen to continue strengthening commercial and economic ties with Honduras, as the country emerges from pandemic restrictions.
EU
- The European Commission has published the report summarizing progress made during the latest negotiation round to deepen the existing Economic Partnership Agreement (EPA) with five Eastern and Southern African partners
- EU facilitates increased exports of Moldovan agricultural products
CUSTOMS
- Ministry of Finance decides not to impose anti-dumping duties on imports of Low-Density Polyethylene (LDPE) from Qatar, Saudi Arabia, Singapore, Thailand, United Arab Emirates, and the USA despite a positive recommendation by the DGTR
- Ministry of Finance extends anti-dumping duty on imports of New/unused pneumatic radial tyres from China PR till 17th December 2022
- Condition No. 95 of Notification No. 50/2017-cus. Dated 30.06.2017 amended
SANCTIONS AND EXPORT CONTROL
USA
- BIS adds 71 Russian & Belarusian entities to Entity List & amends EAR
- OFAC issues 4 Russia-related General Licences
- Russia imposes travel bans on 61 USA citizens
- OFAC designated North Korean national Jong Yong Nam and Air Koryo Trading Corporation (AKTC) pursuant to Executive Order (E.O.) 13382, and Russian Far Eastern Bank pursuant to E.O. 13722, and Bank Sputnik pursuant to E.O. 13382
- USA charging letter & seizure warrant issued against Roman Abramovich over flights to Russia
- The USA lists Bosnia and Herzegovina officials for undermining Dayton Accords
- The USA issues an export denial order over the unlawful export of sensitive blueprints to China
EU
- The European Council adopted the 6th package of EU sanctions that cover crude oil and petroleum products imported from Russia
- EU adopts further Belarus sanctions
- EU General Court upholds Yevgeny Prigozhin Libya listing
- EU General Court has dismissed an application for interim measures made by OT who was added to the EU's Russia sanctions list on 15 March 2022
- EU asks the Member States to provide "appropriate measures" for confiscation of proceeds of sanctions infringements
UK
- OFSI issues updated guidance on sanctions enforcement and monetary penalties
- UK orders confiscation of £700k over Iran export control violations
- The UK publishes new guidance on trading under Russia sanctions
We trust you will find this an interesting read.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.