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Korea on alert over 6 more investor-state suits following Lone Star ruling
5-Sep-2022 The Korea Times
The total amount of claims asked by claimants against the Korean government exceeds $1.2 billion.
US looking to lock in Pacific with new economic framework
5-Sep-2022 PANG
This week Trade Ministers from eleven countries will meet with the view to launch negotiations for an Indo-Pacific economic agreement.
‘FTAs with UK, Canada to be sealed in 2022’
5-Sep-2022 The Hindu
India’s free trade pact negotiations with the United Kingdom are ‘within touching distance’ of a deal and a similar deal along with a bilateral investment treaty with Canada is expected to be concluded by December, its top trade official said.
Some implications of the digital economy paragraph of the leaked draft ministerial text for IPEF trade pillar
2-Sep-2022
The US will host the first in-person IPEF Ministerial meeting in Los Angeles from 8-9 September 2022, which is expected to launch formal negotiations. Some countries may decide not to remain involved in some or all of the IPEF’s “pillars”.
Poland drafts law to ‘terminate’ controversial Energy Charter Treaty
2-Sep-2022 Euractiv
The draft law on the “termination of the of the Energy Charter Treaty” and its protocols was agreed by the Polish government on 10 August and sent to the country’s lower chamber.
UAE aims to finalise free trade deal with Turkey in coming weeks, official says
2-Sep-2022 Reuters
The United Arab Emirates aims to finalise a free trade agreement with Turkey in the coming weeks, the Emirati trade minister said, roughly four months after negotiations launched.
EAC-COMESA-SADC tripartite not ratified 7 years on
1-Sep-2022 Busiweek
The EAC-COMESA-SADC Tripartite FTA agreement has a total of 29 member countries representing 53% of the AU membership and more than 60% of the Africa Continent GDP ($1.88 Trillion) with a population of over 800 million people.
New model bit for African states facilitates counterclaims against foreign investors
1-Sep-2022 Lexology
In recent years, in certain investment arbitration proceedings, States have brought counterclaims alleging that foreign investors had failed to comply with corporate social responsibility principles. In all but two cases, these counterclaims have been unsuccessful.
Ratification of RCEP and Indonesia-Korea CEPA is not democratic and violate public rights
1-Sep-2022 Indonesia for Global Justice
The Civil Society Coalition for Economic Justice condemned the plenary session of the Indonesian House of Representatives which ratified the Regional Comprehensive Economic Partnership and the Indonesia-Korea CEPA agreement.
Iran, Vietnam stress need to start negotiation on signing a PTA
1-Sep-2022 Tehran Times
Vietnam’s and Iran’s top officials stress the need to begin official negotiations for signing a preferential trade agreement between the two countries.
South Korea to appeal international tribunal’s order to pay Lone Star By Kim Arin
1-Sep-2022 Korea Herald
South Korea plans to seek annulment of an international tribunal’s verdict to compensate Lone Star Funds in a decade long investor-to-state dispute arbitration.
Green hydrogen opportunities for Aust, UK
31-Aug-2022 The West Australian
Under the free trade agreement, the two nations have pledged to work together in developing and accelerating cost-effective low and zero emissions technologies as well as supporting clean and renewable energy sources and infrastructure.
S. Korea ordered to pay Lone Star US$216.5 mln in investor-state suit
31-Aug-2022 Yonhap
An international tribunal ordered South Korea to pay the US private equity firm Lone Star Funds US$216.5 million, bringing an end to a decade long legal battle surrounding its sell-off of a local bank.
Canada challenges US softwood lumber duties under USMCA trade pact
30-Aug-2022 The Globe and Mail
International Trade Minister Mary Ng says Canada is formally initiating a challenge against “unwarranted and unfair” U.S. duties on Canadian softwood lumber.
Minister says inflation law ‘highly likely’ to violate FTA
30-Aug-2022 The Investor
South Korean Minister of Trade Industry and Energy said the US Inflation Reduction Act that bans tax benefits for electric vehicles built outside of North America is highly likely to breach the US-Korea FTA and WTO rules.
Indonesia parliament approves membership of China-backed regional trade deal
30-Aug-2022 Euronews
Indonesia’s parliament passed a law cementing the country’s membership of the China-backed Regional Comprehensive Economic Partnership (RCEP), making it the latest Southeast Asian nation to join the world’s biggest trade bloc.
Perenco registers award debt owed by Ecuador in Singapore and UK
29-Aug-2022 Asia One
This action would allow for Ecuadorean accounts in these jurisdictions to be frozen and trading payments and receivables to be seized, in order to satisfy the outstanding award debt.
Mexico expects EU trade deal to be approved in 2022, minister says
29-Aug-2022 Reuters
The European Union should sign off on its updated trade agreement with Mexico later this year, Mexican Foreign Minister Marcelo Ebrard said.
EU-NZ trade agreement ’by no means a done deal’
29-Aug-2022 RNZ
"It is by no means a done deal ... there’s going to be a huge diplomatic effort to push this across the line," - NZ’s chief EU trade negotiator Vangelis Vitalis.
India, Canada to hold negotiations on trade in September
29-Aug-2022 The Print
Reaffirming its commitment to an interim trade pact with India, Canada said that the next round of negotiations will be held in September.