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Occidental files BIT claim against Ecuador at ICSID
18-May-2006
US-based Occidental Petroleum has responded swiftly to a move by the Ecuadorian Government to kick the company out of Ecuador. The firm filed a request for arbitration with the Washington-based International Centre for Settlement of Investment Disputes (ICSID) yesterday. The company’s claim is expected to be for at least $1 Billion (US) in damages.
US FTA tricks Colombia farmers
18-May-2006 Prensa Latina
When a Colombian top-level delegation travelled to Washington last week to supposedly resolve the contradictions between the Spanish and English versions of the FTA, they instead agreed to import aged US hens to Colombia. US poultry farmers regard those hens as waste, since they are sterile.
New US-Asean trade framework ready soon
18-May-2006 Manila Times
The United States Trade Representative Office (USTR) said a trade and investment framework agreement with the Association of Southeast Asian Nations (Asean) would be concluded soon.
Ecuador minister says US political interference unacceptable
18-May-2006 MarketWatch
Finance Minister Diego Borja said that the US decision to break off free trade talks with Ecuador after the government canceled Occidental Petroleum Corp’s (OXY) contracts was unacceptable political interference.
EPA as impediment to Nigeria’s devt strategy
18-May-2006 AllAfrica.com
Below is an x-ray and analysis of how the EU-ACP EPA is capable of throwing to oblivion the development dimensions and objectives of Nigeria’s National Economic and Development Strategy.
JPEPA: Arbitration framework readied
18-May-2006 Manila Bulletin
The Philippines and Japan are moving towards adopting arbitration procedures in settling disputes to avoid lengthy and expensive court battles in protecting investments from both sides as they finalize their proposed bilateral free trade pact.
Experts warn of inflated hopes for Korea-US FTA
18-May-2006 Chosun Ilbo
A free trade agreement between Korea and the US is expected to bring substantial challenges as well as opportunities for the Korean economy. The manufacturing industry led by textiles, cars and electronics will see exports increase, but agricultural, fisheries and the service industry will at the very least have undertake structural reforms to survive.
S Korean farm sector to suffer huge damage from US FTA: report
18-May-2006 Asia Pulse
A free trade pact with the United States would deal a hard blow to South Korea’s agricultural sector and cause estimated losses of up to 8.8 trillion won (US$9.39 billion), a Korea University report showed Wednesday.
FIDH report on the effects on human rights of the NAFTA
18-May-2006 FIDH
The International Federation for Human Rights has published the report of a fact-finding mission on the effects on human rights of the North American Free Trade Agreement (NAFTA). The mission, conducted in Mexico between 22 and 31 of August 2005, looked specifically at the effects of NAFTA, ten years after its entering into force, on employment and working conditions in the Northern part of the country, in particular in the maquilas and in the informal economy.
Protester killed during Colombia protests
17-May-2006 The Guardian
Farmers and members of indigenous tribes clashed on Tuesday with police during protests against a free-trade agreement with the US and the re-election of President Alvaro Uribe, and protest leaders said an Indian farmer was killed.
EU-Asia trade pact in prospect
17-May-2006 FT
The European Union is likely to decide by the end of the year whether to launch talks on a comprehensive trade agreement with south-east Asia, its first in Asia. The EU move is seen as a response to a widening web of bilateral deals being negotiated in the region by the US, China, Japan and Korea that threaten to sideline European economic interests.
Bush trade strategy backfires as chances of global pact recede
17-May-2006 Bloomberg
President George W Bush’s strategy of using individual accords as stepping stones to a unified, global system of trade may be backfiring.
Thailand-Japan FTA off until 2007
17-May-2006 Bangkok Post
Thailand’s Permanent Secretary for Commerce Karun Kittisataporn said the Thai-Japanese FTA will be signed only after the new Thai government takes office. This almost certainly means next year, as the new general election is likely to be put off until later this year.
White House axes free trade talks with Ecuador
17-May-2006 CNN
The Bush administration announced Tuesday it has broken off negotiations on a free trade agreement with Ecuador after that government’s decision to annul an operating contract with Occidental Petroleum Corp.
Vulnerable stakeholders have to be protected
17-May-2006 Financial Express
Congress chief Sonia Gandhi’s letter to the PM on the possible downside of the India-Asean FTA has sparked off a debate. How far should India accommodate Asean’s interests?
Ecuador sends military to seized oil facilities
17-May-2006 Globe and Mail
Ecuadorean President Alfredo Palacio sent troops to guard oil facilities seized from Occidental Petroleum Corp. as they are transferred to state control, officials said Tuesday.
Rwanda: Lift trade barriers first, Kagame urges Africa
16-May-2006 ANDnetwork
President Kagame, who was officially opening the 21st Common Market for Eastern and Southern Africa (COMESA) Council of Ministers meeting at Hotel Intercontinental, said that while Africa is keenly negotiating for a fairer international trade system, it had done little to open up its markets with conducive investment climates and policies.
Asean signs FTA with South Korea after Thailand opts out
16-May-2006 The Nation
South Korea signed a Free Trade Agreement (FTA) with the Association of Southeast Asian Nations on Tuesday but founding member Thailand was left out due to internal disagreements and objections to Seoul’s barriers on farm products.
Trade deal to bring harsh competition to Vietnam
16-May-2006 Financial Express
Vietnam’s trade deal with the United States — meant to facilitate Vietnam’s accession to the WTO — lowers Hanoi’s tariffs on US industrial and farm products and removes other barriers that block US companies in the telecommunications, retailing, banking, insurance and energy sectors.
Comoros, Libya join COMESA free trade area
16-May-2006 Xinhua
Comoros and Libya have joined the Free Trade Area (FTA) of the Common Market for Eastern and Southern Africa (COMESA), the continent’s largest economic group.