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EMEA Trade Weekly: Trade Preferences, Import Restrictions, FTAs

11/6/2017
 

Europe

 
EU-Cuba agreement comes provisionally into force
The aim of the agreement is to create a more predictable and transparent atmosphere for economic operators and increase their economic capacity to produce, trade, and create jobs, but it does not establish a free trade area or cover investment protection.

[European Union External Action]
 
New railway connects Europe and China while bypassing Russia
The line connects Azerbaijan, Turkey, and Georgia and is expected to reduce journey times between China and Europe by around 15 days. Trains have been running between Europe and China since 2012 and now use nearly 40 routes, but the flow of trade so far has been mostly one-sided as European exporters are yet to embrace this service.

[Global Trade Review]
 
Cambodia trade preferences in jeopardy over human rights situation, Parliament says
The statement was the strongest threat of action since the arrest of opposition leader Kem Sokha in September and steps by Prime Minister Hun Sen’s government to dissolve his Cambodia National Rescue Party. EU countries accounted for around 40 percent of Cambodia’s exports in 2016.

[Reuters]
 
EU publishes 2018 version of Combined Nomenclature

[Official Journal of the EU]
 
 

Middle East

 
Tunisia tackles trade deficit by imposing import restrictions
The central bank has ordered local lenders not to provide loans to finance imports of some 220 consumer products unless the importer deposits enough funds to cover the cost of the import. Affected products include tropical fruits, alcoholic beverages, cosmetic products, and air conditioners.

[Zawya]
 
Qatar and Iran to set up joint trade, transport committees
A trade committee aims to serve the two countries’ trade interests and a transport and communications committee will focus on facilitating trade exchange and air and maritime transport.

[Middle East Monitor]
 
 

Africa

 
Somalia, Turkey sign trade cooperation agreement

[Shabelle News]
 
Failure to establish continental free trade area affecting African economy

[The Herald]