#TradeUpdate

🇵🇭 The #Philippines ratifies the Regional Comprehensive Economic Partnership #RCEP making all 15 signatories onboard the world’s largest free #trade agreement to date

🇨🇱 Another mega trade deal the Comprehensive and Progressive Agreement for Trans-Pacific Partnership #CPTPP goes live in #Chile

#TradeUpdate
🇸🇬 #Singapore became the second country to formally adopt the WTO Fisheries Subsidies Agreement and 🇲🇾 #Malaysia concludes its eighth trade policy review at the global trade body.

#TradeUpdate
🇮🇩 #Indonesia files a complaint at the World Trade Organization against 🇪🇺 #EU anti-dumping duties on stainless steels.

#TradeUpdate
🇪🇺 #EU made a number of trade actions against countries in the region including:
- extension of anti-dumping (AD) measures on 🛞aluminum road wheel imports from 🇨🇳 #China
- imposition of AD duties on 🧴 fatty acids from 🇮🇩 #Indonesia
- reopening of investigation on GSP safeguards on 🍚 rice from 🇰🇭 #Cambodia and 🇲🇲 #Myanmar
- imposition of provisional AD duties on 🛢️ stainless steel refillable kegs from 🇨🇳 #China

#TradeUpdate

The 🇰🇷#SouthKorea 🇸🇬#Singapore Digital Partnership Agreement (KSDPA) entered into force yesterday, 14 January. KSDPA is the first digital economy agreement (DEA) signed between two countries in Asia.

Apart from its obvious features, KSDPA demonstrates the growing role of countries in the region (with 🇸🇬 at the forefront) to shape the #digital #trade playbook offering model approaches for potential future rules governing the digital economy.

#TradeUpdate
🇨🇳 #China and 🇪🇨 #Ecuador concluded negotiations for a free #trade deal. Talks began in February 2022. The latest development came after the Latin American country reached an agreement to restructure its debt with Chinese banks last year.

#TradeUpdate
Happy new year! 🇮🇩 #Indonesia kicked off the trade calendar with the entry into force of the Regional Comprehensive Economic Partnership #RCEP today 2 January 2023. Jakarta estimates a boost in #trade surplus of USD979.3 million and GDP growth of 0.07 percentage point by 2040.

Meanwhile, the #Philippines has yet to ratify RCEP while #Myanmar‘s papers were rejected by some members and remain in limbo due to the ongoing political crisis.

#TradeUpdate
🇨🇱 #Chile ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership #CPTPP yesterday. Santiago also either concluded or is still negotiating with other CPTPP members for side letters on exemptions from the trade deal’s investor-state dispute settlement #ISDS provisions. Interesting to note that Gabriel Boric, a vocal critic of the trade bloc, made it a point to secure leniency from ISDS before he allows Chile’s entry to the CPTPP.