Quarterly Newsletter - March 2023

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.

UK - India Trade Update April 2023

The 7th round of the UK-India FTA negotiations concluded in February, with trade ministers from both countries meeting in December 2022 & January 2023 to assess progress. The bilateral trading relationship was worth £34 billion in 2022, an increase of £10 billion in a year. The discussions closed on 13 chapters of the proposed FTA deal, which included goods, services, investments & IP rights with both partners remaining optimistic for a successful agreement by the end of 2023. Read more

Talking about Women’s Economic Empowerment on the International Women’s Day and Beyond

The United Nations 2030 Agenda for Sustainable Development Goals (SDGs) includes Gender Equality as a fundamental goal. Under SDG Goal 5, “gender equality is not only a fundamental human right, but a necessary foundation for a peaceful, prosperous and sustainable world.” While there has been progress in the gender equality in the last decades, the world is not on track to achieve gender equality as envision in the SDG by 2030. Read more

Vietnam - Investor-State Dispute Settlement (ISDS) under Vietnam's FTA

Vietnam has consistently been an attractive destination for foreign investment. Following the financial crisis of 2008-2009, FDI inflows regained growth momentum at an average rate of 6.3% annually from 2010 to 2021. Among the top FDI investors in Vietnam are the Republic of Korea, Singapore, Japan, Taiwan, China, Hong Kong, and The Netherlands.  Key sectors attracting FDI inflow are manufacturing, real estate, and energy. Read more

Vietnam: Opportunities from the New Insurance Business Law

In 2021, Vietnam’s insurance industry recorded VND 256 trillion (US$10.9 billion) in premiums, more than triple that was recorded in 2015. Furthermore, Viet Nam’s current insurance market represented 3.96 per cent of GDP in 2021, according to the Ministry of Finance (MoF). This is relatively low, compared to the global average of 7 per cent and suggests ample room for further growth. By comparison the UK’s insurance market represents around 11 per cent of the UK’s economy. Read more

Key messages to come out of Davos 2023 on the future of Trade

Global leaders gathered in Davos from the 16th to 20th of January 2023 for the World Economic Forum’s 53rd Annual Meeting centred on “Cooperation in a Fragmented World”. The COVID-19 pandemic, Russia’s invasion of Ukraine, disruptions along key supply chains, and rising food and energy prices all cast a sombre shadow on the prospects of economic recovery and economic growth for 2023. Read more

Support to the CARIFORUM-EU EPA

The European Commission commissioned a series of studies on business and investment opportunities for EU private sector entities in the context of the CARIFORUM-EU EPA. The objective of this project is to contribute to a more strategic EU business presence in the region in terms of trade flows, regional value chains, investments, and a greater regional coordination, in line with the regional dimension of the CARIFORUM – EU EPA. Read more

UK - Vietnam Trade Updates 

This year, 2023, the UK and Vietnam celebrate 50 years of diplomatic relations. The strategic partnership between the UK and Vietnam has been tightening over the years. Following the entry into force of the UKVFTA, 65% of all tariffs was eliminated in 2021, which will increase to 99% by 2027. This equates to tariff savings of $134.65 million per year on Vietnamese exports to the UK after full implementation, and of $42.52 million per year on UK exports to Vietnam. Read more

An overview of the UK's Russia Sanction Regime

The Russia (Sanctions) (EU Exit) Regulations 2019 came into force on 31 December 2020 to replace the previous EU sanctions regime relating to Russia’s actions in the Ukraine. This instrument is made under the Sanctions and Anti-Money Laundering Act 2018 to encourage Russia to cease actions which destabilise Ukraine or undermine or threaten the territorial integrity, sovereignty, or independence of Ukraine.Read more

 

Mauritius' Trade Act of 2022

Trade remedies are a crucial element of today’s international trade environment.  Free trade promotes open and transparent competition, improves the supply of a variety of products, and leads to greater welfare for consumers. Mauritius has revamped its trade remedies legislation to protect its local industry.  According to Government statistics, the domestic industry in Mauritius account for 40 percent of GDP. Read more here on Mauritius’ Trade Act 2022. Read more

Looking ahead to 2023

The global economy remains exposed to multiple shocks amidst escalating geopolitical tensions, a slowdown in China’s economy, unsustainable rates of inflation and tighter monetary policy. Worsening economic conditions are likely to lead to “the third weakest pace of growth in nearly three decades overshadowed only by the global recessions caused by the pandemic and the global financial crisis,” according to the World Bank (World Bank, 2023). Read more

The end of trading under the EU's GSP for Viet Nam 

2022 marked the second year of implementation for the EU-EVFTA (European Union–Viet Nam Free Trade Agreement) and the end of application of the European Union’s Generalised Scheme of Preferences (GSP) for Viet Nam. While the EVFTA has been widely considered as a major achievement to support the trade relationship between Viet Nam and the EU, the removal of the GSP preferences may initially cause certain confusion and can impact trade in the short-term.Read more

Current Projects

Global Projects

  • Evaluation of the ITC's UK Trade Partnership Programme Read more

  • 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

Projects in Asia and Pacific

  • Support to the EU Delegation on Market Access in Indonesia Read more

  • Trainings on trade-related intellectual property rights and investment measures in Uzbekistan Read more

  • Capacity Building for Indonesia's Ministry of Trade on Trade in Services Read more

  • Support to Indonesia's WTO Team Read more

  • 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 

Projects in Africa

 

  • Identification of priority Value Chains under AfCFTA for ECOWAS Read more

  • Identifying Commercial opportunities for UK traders and investors under AfCFTA Read more

  • Preparation of ECOWAS's Annual Trade Report 2022 Read more

  • Capacity Building for Rwanda Export Institutions for Exports to Markets under the AfCFTA Read more

  • Training for Mauritian Manufacturing Sector Read more

  • 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 under EU Agreements with Africa Read more

  • Assessment of Namibia's e-commerce Read more

  • Risk Assessment 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

Check out our New Website with Our Updated Dashboards

Trade Performance

This 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

Investment Performance

This 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

Post-Brexit

This 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

Country Profile

Our unique and incredibly extensive country dashboard and report, which is based on thorough research and analysis, provides relevant information on macroeconomic indicators, trade agreements, and digital readiness. It is also possible to analyse in depth the performance of close to 200 economies in terms of trade in products and trade in services.

Read More

Latest News

 

Paul Baker gave an interview on Africanews sharing insights on the geopolitical and economic objectives of the new partnership between the US and African nations, amidst the heightened importance of Africa in international politics due to the ongoing conflict in Ukraine. Watch here

 

Paul Baker interviewed in Business Magazine on Mauritius' exposure to international geopolitical uncertainty and giving suggestions on ways to boost the export sector. Read more

 

Paul Baker interviewed for The Telegraph. Article delves into the implications of the UK that is considering joining the CPTPP. Read more

 

Paul Baker and David Luff were teaching in the Master’s course at the College of Europe in Natolin on the subject of Political economy of trade and risks in the global economy.

 

Loan Le and Pablo Quiles were in Tashkent, Uzbekistan, providing capacity building on the WTO TRIPS and TRIMS Agreements to government officials. Contributed to the development of trade policies and support Uzbekistan's integration into the global trading system.

 

Workshop - Implemented on Sustainable Tourism Trade and Investment Opportunities in CARIFORUM. Explored the potential of this growing sector within the framework of the CARIFORUM-EU Economic Partnership Agreement. Watch here

 

Paul Baker - in Madagscar to evaluate for the UK Trade Partnership programme funded by FCDO and implemented by ITC, which promotes exports from Madagascar to the UK and EU markets under the Economic Partnership Agreements.

 

Webinar - Paul Baker and Ria Roy presented their findings from their latest study on Opportunities offered by e-commerce for Indonesian MSMEs. Covered a detailed analysis of key e-Marketplaces that hold potential for halal foods and modest fashion items from Indonesia in the priority EU markets of Spain, Hungary, and Germany.

 

Paul Baker gave evidence to the International Trade Committee (ITC) in a session with experts in UK Parliament. The UK is currently committed to joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The ITC examined the strength of the trade bloc’s environment chapter, including its provisions on fisheries subsidies, how the UK could cooperate on areas of environmental concern, and what the chapter means for UK businesses looking to trade in the region. Watch here

 

Paul Baker conducted a series of meetings in Eswatini on the country’s e-commerce opportunities. The discussions focused on connectivity, namely cross border trade and logistics and Telecoms coverage, reliability and cost and e-payments. 

 

IEC together with Consortium partners hosted a workshop on Renewable Energy in the Caribbean, to connect CARIFORUM businesses with EU counterparts. Pablo Quiles moderated the event. Watch here

 

Akshay Bholee, IEC's Data Scientist was one of the experts who authored a recent report on the Strategy for Development of the Pharmaceutical and Biotechnology sectors in Mauritius.  The aim of the study was to deliver a proposal for Mauritius to become a leading regional hub for bio-pharmaceutical research and manufacturing. Read more

We would like to hear from you!

Are you a Cambodian manufacturer or trader exporting to the EU?

IEC is working on a study to assess the impact of Cambodia’s prospective transition to trading under the European Union’s GSP/GSP+ schemes. We would like to hear from Cambodian manufacturers and traders that are exporting to the EU on the potential challenges they might encounter during this transition. Please participate in our online survey here

Are you a Mauritius-based firm interested in implementing Manufacturing 4.0 Technologies? The Commonwealth Secretariat, Ministry of Industrial Development, SMEs and Cooperatives (Industrial Development Division) and IEC are assessing the current state of Mauritius’ manufacturing sector, the level of maturity of Mauritian manufacturing enterprises and its capacity to adopt high-end Manufacturing 4.0 technologies.This study will provide the foundation for a capacity building program to advise and upskill Mauritian manufacturers to adopt Manufacturing 4.0 technologies and processes. Please participate in our online survey here

Other News

Our CEO, Paul Baker, International Economics Consulting Ltd, for the 7th consecutive year, has been recognised as WWL Expert on Trade and Customs category and designation in Who’s Who Legal: Thought Leaders – Africa 2023.

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