By Phuong Nguyen For Tran Nhu Tung, Vietnam’s newly signed free trade deal with the European Union presents both huge opportunity, and a logistical headache. The vice chairman of Thanh Cong Textile Garment Investment Trading (TCM) in Ho Chi Minh City is planning a rapid expansion in anticipation of the influx of orders the tariff-slashing EU-Vietnam Free Trade Agreement (EVFTA) promises to bring. “The EVFTA is the game changer that will pave the way for Vietnamese garments to dominate the European market,” Tung said amid the clack of thousands of sewing machines in the metal-roofed factory on the outskirts of Vietnam’s commercial centre. Analysts say garments worth around 10 per cent of Vietnam’s exports and currently subject to EU tariffs of around nine per cent, will be by far the biggest beneficiary of the EVFTA finalised last month. The EU is already Vietnam’s second largest garment market after the United States, accounting for 15 per cent of … [Read more...] about Vietnam garment makers face hitches in lucrative EU trade deal
Eu trade deals
Deforestation in the Amazon rainforest area of Brazil accelerated in the first half of July, outstripping the rate of deforestation during the entirety of the same month last year - and raising red flags for a regional trade deal with the European Union (EU). Over 1,000sq km of the jungle were cleared in the first 15 days of the month – already a 68 percent increase from all of July 2018 - according to preliminary satellite data from Brazil's state-run National Institute for Space Research. The deforestation over the last few weeks constitutes the largest for one calendar month since August 2016, and also follows sharp year-on-year rises in May and June. The Amazon is the world's largest tropical rainforest and scientists consider its protection critical to the fight against climate change. Environmentalists blame rising deforestation in Brazil on new President Jair Bolsonaro, whose policies and rhetoric favour development of the Amazon. The president's office and the … [Read more...] about Accelerating deforestation in Brazil endangers EU trade deal
The European Union and South American bloc Mercosur yesterday agreed a draft free-trade treaty, bringing to an end almost 20 years of negotiations. The deal still faces huge hurdles, including pressure from farmers here and elsewhere in Europe, notably France, who will push their governments to veto an agreement that will mean a huge increase in low-cost South American beef allowed into the EU at a very low tariff, along with poultry, sugar and plant-based ethanol. The deal will also eliminate tariffs on orange juice, instant coffee and fruit exports from Mercosur members Argentina, Brazil, Paraguay and Uruguay and give greater access for meat, sugar and ethanol. Europe has its eyes on industrial exports - especially cars - currently hit with tariffs of 35pc, and also on big EU firms being able to compete for public tenders in South America. Europe's biggest exports to Mercosur include machinery and chemical and pharmaceutical products. Speaking after the announcement, Agriculture … [Read more...] about Farmers furious as EU trade deal delivers a ‘massive blow’
WASHINGTON — When trade representatives visit me to discuss biotechnology products, often the first thing I do is eat a genetically modified kernel of corn from my farm in New Hartford, Iowa, to show that American biotechnology products are safe for consumers. In Europe, this wouldn’t be possible. As a World Trade Organization panel found, the European Union unduly delays approvals for U.S. agricultural biotechnology. Remarkably, the delays take place even after EU scientists conclude the products at issue are safe. As trade discussions between the United States and the EU move forward, European trade representatives must come to the table on agriculture. European leaders continually claim that their consumers don’t want biotechnology products. With no concrete scientific evidence to support their claims about safety, the EU is simply denying consumers the right to decide what products they want to buy for their families. But biotechnology isn’t the only … [Read more...] about Will corn, chicken and Champagne scuttle a US-EU trade deal?
Europe By John Campbell BBC News NI Economics & Business Editor 10 April 2019 Share this with Facebook Share this with Messenger Share this with Twitter Share this with Email Share this with Facebook Share this with WhatsApp Share this with Messenger Share this with Twitter Share Share this with These are external links and will open in a new window Email Share this with Email Facebook Share this with Facebook Messenger Share this with Messenger Messenger Share this with Messenger Twitter Share this with Twitter Pinterest Share this with Pinterest WhatsApp Share this with WhatsApp LinkedIn Share this with LinkedIn Copy this link https://www.bbc.co.uk/news/world-europe-47885014 Read more about sharing. These are external links and will open in a new window Close share panel Related TopicsBrexit The Taoiseach (Irish prime minister), Leo … [Read more...] about Varadkar hints at UK say in trade deals