Quarterly Newsletter - December 2022 |
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We are pleased to share our latest newsletter, which includes our most recent articles, CEO Insights and news on our latest projects implemented. We are delighted to announce that to date we have been awarded over 150 projects in 125 different countries. We share updated dashboards and analytics, and lessons learned from other countries and provide business insights to better estimate the risks and impacts arising from supply chain disruptions and changes in demand across global markets. |
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Looking Back at 2022: From COVID-19 recovery to geopolitical shocks The year started with a weakened global economy as countries reimposed mobility restrictions as the new Omicron COVID-19 variant was detected in late 2021. The start of the year witnessed rising energy costs and supply interruptions, resulting in spiralling inflation accross the globe (IMF, 2022). Furthermore, record debt and soaring inflation limited many governments’ ability to respond to new economic risks. Read more |
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Central Banks and Crypto: Perfect Match or Problem? A key promise of digital currencies is lower transaction costs, but that may not be possible with central banks getting into the game. An increasing number of African countries are considering the launch of central bank digital currencies, CBDCs. In October 2021, the Nigerian government launched eNaira, making it the second country in the world to have made CBDCs available to the public. Read more |
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UK: Electronic Trade Documents Bill On 12th October 2022, the Electronic Trade Documents Bill was introduced in the House of Lords, and in a next phase will be discussed at the House of Commons. The bill, in its current format, includes 7 sections imposing legal recognition to electronic versions of trade documents, allowing the ability for traders to possess electronic documents as well as switch the form of trade documents by choice. Read more |
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Mauritius: Island Nation Seeks to Become First Fully-Fledged African Member of OECD The Government of Mauritius recently reiterated the island nation’s commitment to become a fully-fledged member of the Organisation for Economic Co-operation and Development (OECD). The OECD, a leading international economic organisation and a key player in multilateralism, currently comprises 38 Member countries, none of which are African. Read more |
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Report on Non-Tariff Measures in CEFTAIEC provided technical assistance to the CEFTA Secretariat in the monitoring and evaluation of the reforms of AP 5 to the CEFTA Agreement on Trade Facilitation for improved transparency and accountability. IEC prepared a Report on Non-Tariff Measures in CEFTA and the progress made in the 1-year timeframe, in accordance with the international standards of reporting on NTBs, such as those by UNCTAD and the EU. Read more |
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Digital Trade under CPTPP and implications for the UK IIEC has submitted written evidence on key considerations regarding Digital Trade and the UK’s Accession to the CPTPP. This is an area of increasing importance for UK companies, more specifically for UK SMEs who might be best placed to benefit from a strong digital trade framework with the CPTPP Partners. By joining the CPTPP, as with any agreement, the UK would face some policy trade-offs. Read more |
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Deep Sea Mining - An untapped potential in Mauritius As metals used to produce semiconductors, car batteries and solarpanels are becoming scarcer, the extraction of polymetallic nodules is an option for Mauritius to be looking into, especially as these mineral masses are found in substantial quantities in its seabeds. This could be an interesting economic opportunity but there are environmental risks to their extraction. Read more |
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Trade and Environment under CPTPP and Implications for the UK The CPTPP is recognised for setting high standards for trade and sustainable development, including those on labour and environmental protection. With this ambitious scope, the CPTPP is expected to provide Parties with an opportunity to push forward innovative solutions to address the global environmental crisis.Read more |
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Overview of the Telecommunications Law and its draft Amendments In late October 2022, the Ministry of Information and Communication (MIC) announced a request for public consultation on the Draft Amendment to Telecommunications Law 2009 (“Draft Amended Telecommunications Law”). According to the MIC, the new law will support the implementation of Viet Nam’s policies on the 4th Industrial Revolution (4IR) and promote national digital transformation.Read more |
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Central Bank Digital Currencies: The future of Global Trade Transactions? As of May 2022, 100 countries, representing over 95 percent of global GDP, had at least one initiative related to Central Bank Digital Currencies (CBDCs) initiative. All G7 countries are considering the use of CBDCs, and the European Central Bank is aiming to introduce an eEuro by 2025. Nineteen of the G20 countries are exploring a CBDC, with sixteen already in development or pilot stage.Read more |
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How will US Trade Restrictions affect the Semiconductor Industry? China is the target of new sweeping and severe export controls from the US. At the start of October (Friday, 7 October), the Biden Administration issued sweeping restrictions on selling semiconductors and chip-making equipment to China. As a result of the move, companies will have to request a special license to supply advanced computing chips, chip-making equipment, and other products to China. Read more |
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Technical Assistance to the ACP Group on WTO Negotiations Read more Support to EU Market Access Team and Trade Policy Analysis in Colombia Read more Support to the CARIFORUM - EU EPA Read more
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Projects in Asia and Pacific |
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Study of Economic Powerhouse Opportunities between Indonesia and Australia Read more Capacity building on trade in services-related analysis Read more Evaluation of cross-border paperless trade in Asia Pacific and Support for the Asia Pacific Trade Agreement Read more Study on Opportunities offered by e-commerce for MSMEs Read more Studies and trainings on the economics and regulations and negotiations of Non-Tariff Measures Read more Labour and Environment Provisions of Trade Agreements for Vietnam Read more FTA Impact Assessment Studies for Cambodia Read more FTA foresight Study 2030 and Trade Analysis Handbook for Cambodia Read more Technical Cooperation and Economic Integration with Cambodia and ASEAN Read more
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Cross-regional exchange on trade and sustainable development in EPAs Read more Assessment of e-commerce readiness in Eswatini Read more Identification of priorities for trade competitiveness and market access in SADC Read more Study on Rules of Origin Read more Assessment of Namibia's e-commerce Read more Risk Assessment Study on the Ghana-EU iEPA implementation Read more Baseline study on the Ghana-EU iEPA implementation Read more Strategy for creation and integration of Single Digital Market in Africa Read more Study to identify investment opportunities in Botswana's ICT Sector Read more Study on alignment of EPAs and Regional Economic Communities Read more E-commerce Initiative - Boosting African Digital Trade in Africa Read more Africa Rise ESA Facility Read more Support to implement the Economic Partnership Agreement in Ghana Read more Improving the Business and Investment Climate in Mauritius Read more
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Trade PerformanceThis dashboard allows users to explore country-specific trade data, enabling them to analyse trade performance, logistics, as well as bilateral imports and exports, providing the users with a deeper understanding of their key markets. Performance. Read more |
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Investment PerformanceThis dashboard provides an overview of country business environments with reliable data and advanced modelling techniques. We provide access to data from more than 200 countries, enabling the users to compare jurisdictions, and discover patterns and investment opportunities. Read More |
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Post-BrexitThis dashboard gives users the ability to monitor the post-Brexit FTA landscape's development, gain insights into trade performance and trade flows by the various trade agreements, and compare the tariffs imposed on UK exports as well as by the UK.Read more |
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Country Profile This dashboard provides a detailed overview of more than 150 countries using more than 20 indicators. Explore country-specific trade data, business indicators and country performance data. Analyse trade performance, logistics, and bilateral trade, and gain a deeper understanding of their key markets. Read More |
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Latest News Loan Le presented in Hanoi, IEC's paper on Trade and Sustainable Development in New Generation FTA at the CIECI 2022. The conference discussed the emergence, development, opportunities and challenges for participation in new generation FTAs. Series of Events in Jakarta - Presented studies on higher education and engineering and architectural services, studies on maritime and environmental services and studies on computer and animation and games services to prepare for trade negotiations. International Economics prepared the studies and delivered all the materials, together with a team of experts for the Government of Indonesia. COP27 - The ICC and The Commonwealth Secretariat hosted a roundtable discussion on Climate Smart Trade and Investment: From Policy to Actions. Paul Baker discussed the latest handbook, soon to be published, by the Commonwealth Secretariat on sustainability provisions in Commonwealth FTAs and production practices, authored by Paul Baker, Pallavi Bajaj and Zahraa Beehary. Expert Meeting - Digital trade and investment for sustainable development in Asia and the Pacific Paul Baker presented on achieving SDGs through digitalisation, digital trade and digital investment, as well as being a discussant on the session dedicated to new digital agreements and measuring the digital economy. Conference - Paul Baker discussed the evolution and scope of Trade and Sustainable Development provisions in FTAs, as well as the approach and implementation practices in EU FTAs with other developing and emerging countries. Workshop - International Economics, in partnership with UNECA, prepared a national response strategy, to capitalise on the opportunities under the AfCFTA. Workshop - Paul Baker presented a series of studies on ASEAN Regional Value Chains in the Electronics, Medical Devices and Car Industries to assist the Government of Indonesia to prepare for its role as ASEAN Chair in 2023. Paul Baker presented at a Small States Conference in London, organised by the British Institute of International and Comparative Law, the Institute of Small and Microstates, and Wilmer Cutler Pickering Hale and Dorr LLP on the Multilateral Rules on E-Commerce. Paul Baker presented at a workshop in Accra on the E-Commerce Regulatory and Policy Landscape, organised by the Ministry of Telecommunications and Digitalisation of Ghana and GIZ, funded by the German Federal Ministry of Economic Development. Other News |
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Best Paper Award - a paper produced by our team, analysing the impact of Carbon Border Adjustment Mechanisms on Africa’s trade, won the Best Paper Award at the recent African Economic Conference 2022. The paper authored by Paul Baker, Zahraa Beeharry, Loan Le, Ria Roy and Pablo Quiles was presented and defended by Ria Roy and Zahraa Beeharry. |
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