For more information on how these developments may affect your business, please contact Nicole Bivens Collinson at (202) 730-4956 or via email.
Japan
The Office of the U.S. Trade Representative reports that the U.S. and Japan held the fourth round of meetings under the U.S.-Japan Partnership on Trade Dec. 14-15. Discussions focused on (1) coordinated efforts to respond to third-party regulations affecting the digital economy and digital trade, (2) meeting commitments under the critical minerals agreement and each side's capacities to extract and process critical minerals, (3) the non-market and trade-distorting practices of third countries, (4) engagements under the Task Force on the Promotion of Human Rights and International Labor Standards in Supply Chains, and (5) bilateral trade issues including regulatory transparency, ensuring a level playing field for certain products and services, and technical barriers to trade.
Europe
The U.S. and the European Free Trade Association held their ninth trade policy dialogue Dec. 14. Information from the EFTA states that the U.S. provided updates on the Biden administration's trade policy strategy and activities around the globe, including the U.S.-European Union Trade and Technology Council, trade-related aspects of the Inflation Reduction Act, and the envisaged Global Arrangement on Sustainable Steel and Aluminum. EFTA reiterated its request for an updated mutual recognition agreement for good manufacturing practices for pharmaceuticals. The two sides also exchanged views on their evolving trade agendas, including with respect to trade and sustainable development, and the scope for deepening discussions under the dialogue moving forward.
The European Union and Chile signed Dec. 13 an advanced framework agreement that will facilitate cooperation on issues like the de-risking of supply chains, securing a sustainable supply of critical raw materials, and addressing climate change. This agreement must now be approved by European Parliament and then the European Council. A separate interim trade agreement, which will take effect when Chile’s Congress ratifies it and expire automatically when the advanced framework agreement enters into force, will replicate the provisions of the trade and investment pillar of that agreement (except its investment protection provisions).
The EU signed an economic partnership agreement with Kenya Dec. 18. According to the European Commission this agreement will fully open the EU market for Kenyan products upon entry into force but provides a longer period for Kenya to open its market. It also is the first EU agreement with a developing country that reflects the EU’s “new approach to trade and sustainable development;” includes a special safeguard for agriculture, food security, and infant industry; and has a dedicated chapter on economic and development cooperation.
FTAs
An EFE article reports that Ecuador and Canada plan to begin negotiations on a bilateral free trade agreement in March 2024.
According to an article in Lanka Business Online, negotiations on an FTA between Sri Lanka and Thailand have been concluded and the agreement is expected to be signed in February 2024.
Philippines
The first meeting of a labor working group under the U.S - Philippines Trade and Investment Framework Agreement was held Dec. 12. According to a readout from USTR, U.S. officials encouraged increased concrete actions and bilateral engagement to protect union organizers against violence and harassment, promote workers’ rights to freedom of association and collective bargaining, and facilitate dialogue among the two governments, worker organizations, and employer organizations to inform the objectives of the working group.
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