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EMEA Trade Report: Brexit, Digital Tax, Iran Sanctions

3/26/2018
 

Europe

 
EU takes on digital giants with new revenue tax
“Under the current proposal — which needs to be approved by all EU member countries before becoming a reality — EU governments stand to collect some €5 billion a year in revenues from the proposed 3 percent tax, which is a major shift from the traditional policy on corporate tax that goes after company profits where they are booked.”

[Politico]
 
EU leaders show UK the Brexit runway
“The ambition on the U.K. side is to secure a bespoke Brexit deal — one that maintains as many of the benefits of U.K.-EU trade as would be feasible outside the single market and the customs union. And they seem increasingly confident that they can achieve it. On the Brussels side, there is still a bright red line when it comes to any attempt by the U.K. to cherry-pick EU benefits.”

[Politico]
 
 

Middle East

 
Total to seek waiver if U.S. reimposes sanctions on Iran
“US sanctions will resume unless Trump issues fresh ‘waivers’ to suspend them on May 12.”

[Tasnim News Agency]
 
 

Africa

 
New US$1bn financing programme to promote South African trade
The financing will support the South Africa-Africa Trade and Investment Promotion Programme, which “will focus on South Africa-based entrepreneurs, helping them join regional supply chains. It will offer trade and project financing, guarantees, twinning/business matchmaking services, export logistics facilitation, capacity-building and trade information and advisory services to companies seeking trade and investment opportunities in Afreximbank’s member states.”

[Global Trade Review]
 
One-month pilot production phase begins at Algeria-Turkey textile factory
“The factory will be built over an area of ​​250 hectares in Sidi Khattab, in the north western province of Relizane, and includes eight units which will produce various types of textiles under the project’s first phase. According to the ministry statement the second phase of the project will include 10 factories that will produce ready-made garments, industrial fibres, denim, and knitted and woven fabrics.”

[Middle East Monitor]