Academic literature on the topic 'World Trade Organization – European Union countries'
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Journal articles on the topic "World Trade Organization – European Union countries"
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Choi, Gyoung-Gyu. "China's Accession into the World Trade Organization." Korean Journal of Policy Studies 15, no. 1 (2000): 111–27. http://dx.doi.org/10.52372/kjps15107.
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This paper outlines the process of China's accession into the World Trade Organization (WTO) with special focus given to the negotiations between the United States and China, and the European Union (EU) and China. Various economic and political issues behind the scene explain why the US refused to accept China into the WTO for the last 14 years. The economic and political changes in America coupled with the economic and political changes in China placed the two countries in a position where a U.S-China bilateral agreement could be made. The EU acted as a free rider in these negotiations such that it achieved most of its objectives from the conclusion of the Sino-US negotiation. Moreover, the EU could have topped China's concession to the US if it had taken advantage of the opportunity right before the PNTR vote carne to the US Congress.
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Rosnerova, Zuzana, and Dagmar Hraskova. "The impact of globalization on the business position of European Union." SHS Web of Conferences 74 (2020): 05022. http://dx.doi.org/10.1051/shsconf/20207405022.
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We are meeting with the term globalization for many years. The globalization process sets in motion goods, services, financial flows, information, through globalization come to the mobility of people, the workforce and globalization is also a power drive to move the whole world. This paper deals with the contribution of globalization to the EU market. The aim is to find out to what extent EU countries are involved in world trade. It also points to the position of the World Trade Organization, which is the only organization connecting the countries of the world, with the aim strengthening of world trade and ensuring its liberalization. We assume that the EU as the largest integration group in the world will play an important role in world trade and that EU countries will be among the top 10 world players. The document contains an analysis of the EU’s position in world trade. The methodology used is based on comparing the export shares of the top 10 world trade countries and assessing how the countries of the EU positioned on the scale in 2018. The discussion deals with assessing the findings and estimating the situation in the future.
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Kazan-Allen, Laurie. "Asbestos Poisons World Trade Organization Atmosphere." International Journal of Health Services 31, no. 3 (2001): 481–93. http://dx.doi.org/10.2190/r5wm-q78p-e5xq-34e8.
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In September 2000, a World Trade Organization (WTO) panel published its findings in the dispute between Canada and the European Union/France over France's ban on the import and use of chrysotile (white asbestos). The panel upheld the French ban, established that the use of chrysotile is a health risk and the idea of “controlled use” a fallacy, and used (for the first time) an exception clause in the General Agreement on Tariffs and Trade that permits trade-restrictive measures to protect human life or health. At the same time, the panel concluded that the French ban violated international trade laws by treating chrysotile products less favorably than domestically produced alternatives. Some WTO watchers believe that with asbestos as the precedent for bans on toxic substances, the regulation of other, much less well-established, toxic exposures could prove much more difficult. Now the French ban has been upheld, chrysotile producers will increasingly target developing countries. Canada is appealing the WTO decision.
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Jacobi, Otto. "Transnational trade union cooperation at global and European level - opportunities and obstacles." Transfer: European Review of Labour and Research 6, no. 1 (2000): 12–28. http://dx.doi.org/10.1177/102425890000600104.
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As globalisation of the economy proceeds apace, it is essential for trade unions to co-operate on a transnational basis if global capitalism is to be civilised. This contribution argues that problems with global trade union co-operation stem from the fact that people's social interests differ greatly according to the different stages of economic development reached in the First World, the newly industrialised countries, the transition economies and the countries of the Third World. It suggests that global co-operation amongst trade unions can only be achieved by doing away with protectionism and dumping. In the interest of the economic development of other groups of countries, the highly developed states have to abolish sectoral subsidies and protectionist measures. In return, the trade unions in the First World can expect the basic social rights laid down in ILO conventions to be made universally binding. Only then will it be possible to break out of the damaging spiral of global dumping and ensure that living conditions for all concerned are able to keep pace with economic progress. In those countries of Europe which are members of the EU, the conditions for transnational trade union co-operation are entirely different. A unified economic and monetary area has already been created, and what is needed now is for a transnational social area to be developed as well. There is scope here for the trade unions to build on the social standards that have already been set on a EU-wide basis. Despite the enormous challenges resulting from the far-reaching social changes taking place, trade unions in Europe have a real opportunity to establish a social model that can serve as a benchmark for unions in other parts of the world.
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Raj, Vishakha, and M. P. Ram Mohan. "Appellate Body Crisis at the World Trade Organization: View from India." Journal of World Trade 55, Issue 5 (2021): 829–52. http://dx.doi.org/10.54648/trad2021035.
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There has been a crisis prevailing at the Appellate Body of the World Trade Organization (WTO) since December 2019. The United States’ (US) refusal to allow the appointment of members to the WTO’s Appellate Body has disturbed the functioning of the entire WTO dispute settlement process. In order to mitigate the effects of this, the European Union (EU) has proposed a multi-party interim appeal arbitration agreement (MPIA) which has been joined by over twenty other WTO members. In the absence of rules-based dispute settlement, countries will most probably resort to bilateral negotiations. This will be prejudicial to the interests of developing countries that have consistently been disadvantaged during bilateral negotiations and fared better in proceedings with third-party adjudication. Though India has expressed concerns about the Appellate Body crisis, it has not joined the MPIA and has stated that it does not intend to do so either. This article explains why India would benefit from joining the MPIA especially given the disputes it has pending before WTO Panels. Joining the MPIA will help India avoid unilateral sanctions at the first instance and increase the likelihood of compliance by other WTO members that are a part of the MPIA. WTO, Appellate Body, India, dispute settlement, multilateralism, United States, European Union
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Jelisavac-Trosic, Sanja. "The world trade organization accession as one of the Serbian foreign policy goals." Medjunarodni problemi 70, no. 1 (2018): 28–46. http://dx.doi.org/10.2298/medjp1801028j.
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Accession to the World Trade Organization (WTO), among other things, can be viewed as one of Serbia's foreign policy goals. Observed in this way, the successful completion of the accession process will bring easier market access to the all WTO member countries, but also fulfills one of the key conditions in the negotiations for Serbia's accession to the European Union (Chapter 30). Serbia is an import-dependent country and therefore has a high foreign trade deficit. Our country trades mostly with those countries with which has been signed some kind of trade agreement (EU, CEFTA, Russia, Turkey). That indicates that its entry into the WTO would be beneficial and would facilitate the establishment of trade flows with new partners. Accession would also be useful for an export-oriented model of economic growth. The World Trade Organization is the only global international organization dealing with trade rules between countries. The WTO is the result of multiannual international negotiations aimed at liberalizing international trade. Multilateral negotiations under the WTO umbrella offer the potential to maintain long-term growth, stimulate trade and investment and sustainable economic development. Serbia with its capacities, as a small country, is not in a position to independently create, develop and maintain economic relations with many countries in the world. Therefore, the WTO membership will enable domestic companies and businessmen to export under much more favorable conditions to countries with which Serbia has not yet concluded trade agreements. Serbia started accession to the WTO in 2005 but has not yet completed this process. Taking into account the results of Serbia so far in this process, as well as defining the remaining open issues and problems, we point to the many obstacles our country has encountered, but also on the ways in which the goal can be successfully achieved.
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Jelisavac-Trosic, Sanja, and Stevan Rapaic. "Status and prospects of Serbia’s accession to the world trade organization." Medjunarodni problemi 67, no. 1 (2015): 128–47. http://dx.doi.org/10.2298/medjp1501128j.
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For many years now Serbia is persistent in its attempt to become a full member of the World Trade Organization. Countries that are not yet members represent a tiny minority of the total world trade, and Serbia is one of them. Membership in the WTO is de facto requirement for accession to the European Union. This paper explains how far Serbia traveled in her way to this international organization, whose agreements are governing the global rules of trade between nations. Special attention was paid to the question why it is important that Serbia joins this organization, and what can be concluded from the accession experiences of countries in the region. The authors of this study will try to explain the importance of the WTO accession, and the manner in which membership in this organization will affect Serbia?s existing foreign trade relations.
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Cachet, Tom. "The World Trade Organization Trade Facilitation Agreement: Legal Consequences and Impact on the Union Customs Code." Global Trade and Customs Journal 12, Issue 2 (2017): 74–81. http://dx.doi.org/10.54648/gtcj2017013.
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Intensive rounds of negotiations during the 9th Ministerial Conference of the World Trade Organization (WTO) in 2013 led to the Bali Agreements on Trade Facilitation and Least Developed Countries. This article focusses on the legal impact of the WTO Trade Facilitation Agreement (TFA) and compares the most important obligations in the agreement to the European Union’s existing customs legal framework to deduct whether it is in line with the new WTO provisions.
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Innocenthia, Adieuva, Yosinta Margaretha, Febri One, Junita Christine, and Agnes Magdalena. "THE EUROPEAN UNION, CHINA AND SOLAR PANEL." Sociae Polites 21, no. 1 (2020): 62–72. http://dx.doi.org/10.33541/sp.v21i1.1585.
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The European Union and China are the two countries that have advantages in each of them. The European Union and China have a dispute regarding renewable energies, namely the problem with solar panels. China's policy of making solar panels prices have low bargaining power makes the European Union unable to accept the policy because it can cause a long trade conflict. The case study in this paper also illustrates that the EU is actively approaching it to overcome environmental challenges in China by involving the European Union in dialogue and negotiation on various issues and providing capacity-building support. China also introduced trade reforms and carbon emissions to environmental decision-making bodies in the European Union, and it was supported by the European Union, including through meetings to determine sustainable policies and development projects on energy and the environment.
 
 Keywords: EU – China dispute, Environmental Challenges, anti-dumping, China’s policy, World Trade Organization.
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Cunha, Raphael, Norma Breda dos Santos, and Rogério de Souza Farias. "Generalized System of Preferences in General Agreement on Tariffs and Trade/World Trade Organization: History and Current Issues." Journal of World Trade 39, Issue 4 (2005): 637–70. http://dx.doi.org/10.54648/trad2005039.
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The present study investigates the history of the General System of Preferences within the General Agreement on Tariffs and Trade (GATT) and World Trade Organization (WTO) systems with a particular view to define how developed and developing countries adapted their market policies to the demands of the multilateral trading system (MTS). It analyses the role of the most-favoured-nation (MFN) clause and its consequences to developing countries’ interests, within its parameters of differential market access. The study tries to explain the treatment of preferences in an objective light, presenting two current case studies: the formulation of the American GSP scheme and the dispute of India and the European Union in the WTO about the European Union’s GSP scheme. In addition to this, the study focuses on the conflict among developing countries on the issue of special and differential treatment. This focus will lead to a renewed reading of the history of MTS that takes into consideration the frailty of developing countries’ unity and that tries to understand why and to what extent this unity shattered along the way.
Dissertations / Theses on the topic "World Trade Organization – European Union countries"
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Ojiambo, Colbert. "EU-ACP economic agreements and WTO/GATT compatibility : options for ACP countries under Cotonou Agreement." Diss., University of Pretoria, 2010. http://hdl.handle.net/2263/28400.
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The member states of European Union (EU) and a group of African, Caribbean and Pacific (ACP) states are currently negotiating for new trading agreements compatible with World Trade Organization‘s (WTO) rules. Whereas both the EU and the ACP states are in agreement that the new trading arrangements must be WTO compatible, there is no consensus on the format of the new trading agreements. The EU has insisted that the new trading arrangements should be in the form of free trade agreements, established under Article XXIV of General Agreement on Tariffs and Trade (GATT). Unlike the previous EU – ACP trade agreements which were non – reciprocal, Article XXIV requires that the new trading agreements should be reciprocal. Consequently the EU has gone ahead to negotiate for reciprocal Economic Partnership Agreements (EPAs) with some of the ACP states. Some ACP countries which are opposed to reciprocity have proposed that the new trading arrangements should be established under the provisions of Enabling Clause. Others have suggested that EU should attempt to apply for a WTO waiver. The Cotonou Agreement, under which the new trading agreements are being negotiated, provides that in case of those countries which are not ready to negotiate for EPAs, the EU should examine alternative possibilities, in order to provide these countries with a new framework for trade which is equivalent to their existing situation and in conformity with WTO rules. So far no alternative trading arrangements have been proposed. Although some ACP countries have agreed to negotiate for Economic Partnership Agreements under article XXIV of GAAT, there is no consensus on the interpretation of key provisions of Article XXIV. Under Article XXIV, the parties are required to remove substantially all trade barriers between themselves within reasonable time. The meaning of the phrases 'substantially all' and 'reasonable time‘ has remained controversial with each party giving an interpretation that favours its interests. Lack of consensus on the meaning of these phrases has hindered the conclusion of negotiations for EPAs. In a nutshell, the question of WTO compatibility presents the biggest hurdle to the conclusion of the new trading arrangements between the EU and the ACP group. This paper is an evaluation of the options available to the ACP countries to conclude WTO compatible trading arrangements with the EU. Chapter one of this paper is an introductory chapter which offers an overview of the entire paper. Chapter two sets out in details the historical background of the economic relationship between the EU and the ACP states. This chapter illustrates the historical background from which the new trading agreements have evolved to help the reader understand certain key features of the current economic partnership agreements. Chapter three looks at the GATT/WTO provisions relevant to the establishment of WTO compatible trading arrangements between EU and ACP countries. Particular emphasis is placed on Article XXIV, the Enabling Clause and the WTO waiver. Chapter four is the main chapter in which the paper explores the possibilities of concluding WTO compatible trading agreements under Article XXIV, Enabling clause and the WTO waiver. Chapter five draws the conclusions of this paper.<br>Dissertation (LLM)--University of Pretoria, 2010.<br>Centre for Human Rights<br>unrestricted
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Macheru, Maryanne Wambui. "East African community-European Union economic partnership agreement, to be or not to be? Will conomic partnership agreement undermine or accelerate trade development within the East African community." Thesis, University of the Western Cape, 2011. http://etd.uwc.ac.za/index.php?module=etd&action=viewtitle&id=gen8Srv25Nme4_4327_1363780584.
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Totkovičová, Lucia. "Špecifiká ekonomík Karibiku v kontexte Ekonomických partnerských dohôd a vzťahy s EU." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-162212.
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Diploma thesis deals with the relations between the European Union and the Caribbean, principally with agreements forming their legal and institutional framework. It is theoretically based on the official rules of international trade agreed by the members of the World Trade Organization and on the Articles GATT and GATS. The first part gives information about the Caribbean region, its position in the world economy and about regional intergration, which is the corner-stone of Caribbean's external relations. The second chapter comprises analysis of the specifics of Caribbean countries that form their interests in the international field. Relations with the European Union, agreements that deal with them and specific treatment of developing countries are the subjects of chapter three. The thesis focuses on the Economic Partnership Agreement between the EU and CARIFORUM. Emphasis is on the basic provisions of this agreement on trade, compliance with WTO rules, impact on the Caribbean economies as well as the criticism and evaluation of its benefits. Attention is given to the development aspect of EPA. Last but not least, the thesis refers to the future cooperation under the provisions of this regional agreement.
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Lautard-Mattioli, Clémence. "La politique préférentielle de l'Union européenne en faveur des pays en développement au regard du droit de l'OMC : chronique d'une mise en conformité difficile." Thesis, Paris 1, 2015. http://www.theses.fr/2015PA010296/document.
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La politique préférentielle de l’Union européenne (UE) comprend tous les instruments visant à accorder à un partenaire commercial un droit d’entrée facilité sur le marché intérieur. Utilisée vis-à-vis des pays en développement (PED), elle les aide à accroitre leur capacité d’exportation et permet donc d’enclencher un cercle vertueux de croissance et de développement. Depuis deux décennies, elle connait une profonde mutation, tant quant à ses principes qu’à ses bénéficiaires. L’analyse de cette réforme suppose de faire un bilan de la réception du droit de l’organisation mondiale du commerce (OMC) au sein des instruments préférentiels européens. L’objectif poursuivi est en effet d’assurer le respect effectif des disciplines multilatérales, qui était jusque là contestable. L’UE et l’OMC entretiennent des rapports étroits, mais complexes. L’instrument utilisé afin de parvenir à une réelle soumission est la mise en conformité. Il découle de l’obligation fondamentale posée par l’accord OMC et acceptée par l’UE. Elle recouvre néanmoins des réalités différentes en fonction des dispositions considérées. La spécificité de celles qui sont applicables à la politique préférentielle et la complexité des rapports entretenus par ces deux systèmes sont à l’origine d’une mise en conformité nuancée. Des progrès incontestables ont été enregistrés, mais des problèmes demeurent. La réforme de la politique préférentielle est en effet susceptible de remettre en cause l’originalité du modèle européenne d’assistance aux PED. Elle interroge également sur les liens entre régionalisme et multilatéralisme<br>The European Union (EU) Preferential Treatment aims at granting an easier access to the common market. For the Developing Countries, the interest of such a policy is to enhance their exportation ability, and consequently, to secure growth and development since two decades, this policy is constantly and thoroughly changing. To analyze this mutation we have to consider the way the World Trade Organization (WTO) Law is integrated by and within the European instruments, as the EU is due to abide by it. In practice, this obligation was often breached. The EU and the WTO are related in a strong but complex way. Compliance is the instrument used in order to ensure the observance of WTO law: li has been imposed by the WTO framework and translated within the EU law. Nevertheless, compliance has different meanings depending on which provision is analyzed. The specificity of the European instruments legal basis, as well as the complex relationships between the two legal systems, led to a complex process of compliance. If progress is real, various issues remain unresolved. To some extent, the reform of the EU preferential treatment is a threat for the originality of European instruments toward Developing Countries. This process raises also questions about the relationship between bilateralism and multilateralism
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Girardo, Benjamin. "La conditionnalité politique dans le système de préférences généralisées (SPG) de l’Union européenne : contribution à une identité de l'Union pour le développement." Thesis, Université Grenoble Alpes (ComUE), 2016. http://www.theses.fr/2016GREAD008.
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Le Système de préférences généralisées (SPG) correspond à des réductions de droits de douane offertes par des sujets de droit international pubic « développés » aux pays en développement (PED). De manière générale, la conditionnalité est, quant à elle, un mécanisme qui permet de lier l’établissement, l’approfondissement, ou le maintien d’une situation juridique à la réalisation de conditions par un ou des bénéficiaire(s). Lorsque ce mécanisme est qualifié de « politique », ses conditions ont trait à la manière de gouverner et/ou à l’orientation des affaires publiques d’un sujet de droit international public. Le SPG de l’Union européenne (UE) contient plusieurs formes de conditionnalités qui agissent dans différents domaines des politiques publiques des PED bénéficiant de cette réduction douanière. L’intérêt de cette étude est d’aborder le SPG conditionné de l’UE dans le cadre de la construction de cette organisation internationale sui generis et comme révélateur d’une conception qui lui est particulière des relations internationales pour le développement. Par un effet miroir propre à chaque acte juridique, dans quelle mesure cet acte autonome reflète-t-il certaines caractéristiques de l’Union, une certaine identité de l’Union ? Le SPG conditionné de l’UE est tout d’abord un vecteur certain d’une identité européenne du développement en raison du caractère unilatéral de sa définition et de la relative uniformité de sa mise en œuvre. Cependant, celui-ci constitue un vecteur limité et ambivalent. Limité, tout d’abord, car le SPG est un acte secondaire au sein de la politique commerciale et car sa conditionnalité politique n’est pas reproduite dans d’autres actes des relations extérieures de l’Union. Ambivalent, ensuite, car cet acte autonome peut paraître illicite dans les relations commerciales internationales, tout en renouvelant le concept de développement par le commerce au sein de l’Organisation mondiale du commerce (OMC)<br>A Generalized System of Preferences (GSP) is a reduction in custom fees on exports from « developing » subjects of public international law to « developed » countries. As a general rule, conditionality is a tool used to establish, deepen or maintain a legal situation conditioned by specific behavior from it’s beneficiary(ies). This tool is qualified as « political » when it conditions governing tools and/or the public policy of a subject of public international law. The European Union’s GSP has several forms of conditionality which deal with the public of policy of the developing countries benefiting from reduced custom fees. This work aims to study the EU’s conditioned GSP in the context of this sui generis international organization’s construction and as evidence of a EU-specific conception of international relations for development. As each legal tool reflects it’s creator, how does this act reveal certain characteristics of the EU or even aspects of the EU’s identity ? The EU’s conditioned GSP is an expression of European identity as it is defined unilaterally and applied with relative uniformity. However, this expression is limited and ambivalent. First of all, limited, because the GSP is a secondary act within EU commercial policy and it’s political conditionality is not found in other elements of the EU’s foreign relations. Secondly, ambivalent, because this GSP can seem illegal in the context of international commercial relations, all the while renewing the concept of development-through-trade within the World Trade Organization (WTO)
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Jahnel, Carsten H. "Transatlantic relations : are alliances a funcion [i.e. function] of an external threat? /." Thesis, Monterey, Calif. : Springfield, Va. : Naval Postgraduate School ; Available from National Technical Information Service, 2005. http://library.nps.navy.mil/uhtbin/hyperion/05Jun%5FJahnel.pdf.
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Thesis (M.A. in National Security Affairs)--Naval Postgraduate School, June 2005.<br>Thesis Advisor(s): Donald Abenheim, Hans-Eberhardt Peters. Includes bibliographical references (p. 93-98). Also available online.
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Poulet, Julie. "Direct effect of the law of the GATT in the European Union, the United States and the consequences for the WTO." Thesis, McGill University, 2002. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=78227.
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This aim of this thesis will be to first address the issue of the direct applicability of the GATT within the national framework, mainly through the use of an analysis of the considerations that such a denial of the direct effect of the GATT is based upon, to understand if there are real obstacles to its implementation, before examining the harmful effects this of denial. The analysis will focus on the situation in both the European Union and the United States, these two countries being two of the most important trade partners in the WTO, before suggesting various solutions that could be adopted to implement the direct effect of the GATT in order to benefit both individuals and the WTO members.<br>However, since WTO members are still highly opposed to the recognition of the direct effect of the GATT, the unlikelihood of its implementation, at least in a short term perspective, will lead to an analysis of the situation directly at the WTO level. This will permit us to further conclude, whether it would be possible to find solutions to palliate the problems arising out of the denial of the direct effect of the GATT at a national level. Indeed, in the last part of the analysis undertaken in this work, various ways to remedy the deficit of democracy will be explored, examining alternatively the best vectors that could be used: individuals or NGOs, in order to enhance the legitimacy of the WTO which is principally under attack.
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Huang, He. "At the Crossroad of Free Trade and Trade Protectionism: Analyzing EU’s External Trade Policy under the Impetus of Global Trade Liberalization." Thesis, Linköping University, Department of Management and Engineering, 2007. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-9367.
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<p>Departing from the case of textile and clothing trade dispute between the EU and China in 2005, it has been noticed that the EU’s policy in textile trade to a large extent has been situated in a position of dilemma. On the one hand, the growing global impetus of liberalization in the sector forces the EU to open up its market to cheap textile imports from the developing countries; on the other hand, the fierce protectionist pressures come from the domestic producers and slow down the paces towards liberalization, or sometimes even take setback towards more conservative performances. By placing this case in a broader context, the EU’s external trade policy is confronted with the similar dilemma, swaying between the trade liberalization and trade protection. Consequently, does the EU emerge in the current multilateral trading system of the WTO as a force for trade liberalization or a force for trade protectionism?</p><p>Bearing this question in mind, the general climate of global trade under the GATT/WTO and the EU’s external trade policy will firstly be examined. Then, the EU’s trade protectionism is about to be explained by strategic trade theory, the high political content of the EU’s external trade policy and the fragmentation in the EU’s policy networks; while the EU’s inclination towards trade liberalization will be explained by the implications from the conventional trade theory and new institutionalism, and as well as the impacts from the general climate of global trade.</p><p>The results shows that the EU’s external trade policy under the global trade liberalization is a mixture, neither pure liberalization nor pure protectionism. With regard to the trade issues concerning to the vital interests, the Union without exception inclines to conservative protectionism; whereas concerning the issues of less importance, compromises and concessions always lead the outcomes of the policy to the inspiring liberalization.</p>
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Keawchaum, Chirat. "Judicial interactions of the WTO's rulings by the CJEU." Thesis, University of Aberdeen, 2017. http://digitool.abdn.ac.uk:80/webclient/DeliveryManager?pid=234055.
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This research comprehensively analyses how the CJEU and the WTO Tribunals interact with each other. The CJEU has refused to grant direct effect to the WTO's rulings based on unconvincing reasoning, but this has been deemed acceptable because it is necessary to preserve the scope of manoeuvre of the EU's political institutions, and the application of the consistent interpretation principle to the WTO's rulings could balance out the absence of direct effect. So far, the CJEU has cautiously applied the consistent interpretation principle to the WTO's rulings. While the CJEU has construed EU legislation in conformity with the DSB's reports, it did so without referring to such reports. In the future, the CJEU should regularly and explicitly interpret EU law in a manner that is consistent with the WTO's rulings. Moreover, the CJEU's case law reveals that the Nakajima exception's application has been limited, and transformed into a method of the consistent interpretation doctrine. Thus, the CJEU should apply the Nakajima exception in cases where the EU has amended its legislation to implement the WTO's rulings, and interpret the amended legislation consistently with the WTO's rulings. The absence of direct effect for WTO's rulings produces an excessive burden on the EU Member States and their citizens. Therefore, when the reasonable period of time has passed and the EU has not taken any action, or when the compliance panel announces that the amended legislation still infringes on WTO law, the CJEU should grant direct effect to the WTO's rulings. Moreover, WTO tribunals rarely refer to related CJEU judgments to support their decisions. Therefore, when WTO tribunals have to rule on a matter that the CJEU has already decided on and they agree with the decision, they should apply the consistent interpretation principle to the CJEU's decision.
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Weber, Olaf. "WTO-Streitbeilegung und EuGH im Vergleich : zur gerichtsförmigen Konfliktlösung in Handelspräferenzzonen /." Baden-Baden : Nomos, 2007. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=016138038&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.
Full textBooks on the topic "World Trade Organization – European Union countries"
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Ernst-Ulrich, Petersmann, and Pollack Mark A. 1966-, eds. Transatlantic economic disputes: The EU, the US, and the WTO. Oxford University Press, 2003.
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G, De Búrca, and Scott Joanne, eds. The EU and the WTO: Legal and constitutional issues. Hart Pub., 2001.
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Nicholas, Emiliou, O'Keeffe David, United Kingdom Association for European Law., and University Association for Contemporary European Studies., eds. The European Union and world trade law: After the GATT Uruguay Round. Wiley, 1996.
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The European Union and multilateral trade governance: The politics of the Doha Round. Routledge, 2012.
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Nicholas, Khan, Scharf Tibor, and Müller Wolfgang, eds. EC and WTO anti-dumping law: A handbook. 2nd ed. Oxford University Press, 2009.
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Müller, Wolfgang. EC and WTO anti-dumping law: A handbook. 2nd ed. Oxford University Press, 2009.
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Müller, Wolfgang. EC and WTO anti-dumping law: A handbook. 2nd ed. Oxford University Press, 2009.
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European Commission. Directorate General X for Information, Communication, Culture, Audiovisual. Publications Unit, ed. The European Union and world trade. Office for Official Publications of the European Communities, 1999.
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1954-, Jain Rajendra Kumar, Elsenhans Hartmut 1941-, and Jawaharlal Nehru University. School of International Studies., eds. India, the European Union, and the WTO. Radiant Publishers, 2006.
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Hoekman, Bernard M. The World Trade Organization, the European Union and the Arab world: Trade policy priorities and pitfalls. World Bank, Europe and Central Asia, and Middle East and North Africa Technical Dept., Private Sector Development Division, 1995.
Find full textBook chapters on the topic "World Trade Organization – European Union countries"
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Costello, Cathryn. "The EU and the World Trade Organization." In The European Union and Developing Countries. Palgrave Macmillan UK, 1998. http://dx.doi.org/10.1057/9780230509184_23.
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Lourenço, Paulo B., Jorge M. Branco, and Ana Coelho. "Sustainability and Cultural Heritage Buildings." In Sustainable Structural Engineering. International Association for Bridge and Structural Engineering (IABSE), 2015. http://dx.doi.org/10.2749/sed014.053.
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<p>Conservation of cultural heritage buildings is a demand from society, which recognizes this heritage as a part of their identity, but it is also an economic issue. In Europe, tourism accounts for 10% of the gross domestic product (GDP) and 12% of the employment, if linked sectors are considered. The European Union (EU) is the world’s number one tourist destination, with 40% of arrivals in the world and with seven European countries among the top ten. According to the World Trade Organization (WTO) estimates, international tourist arrivals in Europe will increase signifi cantly. The built European heritage, namely monuments or historical centres, is a main attractor for tourism, with 45% of the United Nations Educational, Scientifi c and Cultural Organization (UNESCO) World Heritage sites situated within the EU. Therefore, the need for their conservation is unquestionable.</p>
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Hoen, Ellen ‘t. "Protection of Clinical Test Data and Public Health: A Proposal to End the Stronghold of Data Exclusivity." In Access to Medicines and Vaccines. Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-83114-1_7.
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AbstractTest data demonstrating the efficacy, safety and quality of a medicine is required by drug regulatory agencies before a new treatment obtains marketing approval and can be made available to patients. Because test data can be costly and time-consuming to produce, certain countries have ‘data exclusivity’ regimes that restrict use of test data to the originator company for a period of time. Generic and biosimilar companies rely on originator test data to obtain marketing approval for generic products, so data exclusivity periods can delay entry of lower-cost treatments to the market. While data exclusivity is not required by the World Trade Organization, countries such as the United States and the European Union often push their stronger data exclusivity provisions on other countries through free trade agreements (FTAs). While a small number of countries have waivers to data exclusivity for cases of emergency or other public health need, most do not. This can hamper the timely and affordable availability of needed medicines. Waivers to data exclusivity should be included in legislation to protect public health, and other ways to protect test data against unfair commercial use should be explored.
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Gstöhl, Sieglinde, and Dirk De Bièvre. "The European Union in the World Trade Organization." In The Trade Policy of the European Union. Macmillan Education UK, 2017. http://dx.doi.org/10.1057/978-1-349-93583-3_5.
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Burri, Mira. "The European Union, the World Trade Organization and Cultural Diversity." In Cultural Governance and the European Union. Palgrave Macmillan UK, 2015. http://dx.doi.org/10.1057/9781137453754_15.
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Hoekman, Bernard. "The World Trade Organization, the European Union, and the Arab World: Trade Policy Priorities and Pitfalls." In Prospects for Middle Eastern and North African Economies. Palgrave Macmillan UK, 1998. http://dx.doi.org/10.1007/978-1-349-26137-6_4.
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Hilf, Meinhard. "The European Union and the Accession of Russia to the World Trade Organization (WTO) in 2012." In Trade Policy between Law, Diplomacy and Scholarship. Springer International Publishing, 2015. http://dx.doi.org/10.1007/978-3-319-15690-3_19.
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Jelisavac Trošić, Sanja. "Serbia’s Sustainable Development Strategy and Industrial Policy for the European Union and the World Trade Organization." In Industrial Policy and Sustainable Growth. Springer Singapore, 2018. http://dx.doi.org/10.1007/978-981-10-5741-0_23.
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Jelisavac Trošić, Sanja. "Serbia’s Sustainable Development Strategy and Industrial Policy for the European Union and the World Trade Organization." In Industrial Policy and Sustainable Growth. Springer Singapore, 2017. http://dx.doi.org/10.1007/978-981-10-3964-5_23-1.
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Jelisavac Trošić, Sanja. "What Is the Role of the European Union in Reshaping the Future of the World Trade Organization?" In Europe in Changes: The Old Continent at a New Crossroads. Institute of International Politics ; Economics ; University of Belgrade, Faculty of Security Studies, 2021. http://dx.doi.org/10.18485/iipe_euchanges.2021.ch21.
Full textConference papers on the topic "World Trade Organization – European Union countries"
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Öngel, Volkan. "An Alternative Foreign Trade Market for Turkey: The Eurasian Economic Community." In International Conference on Eurasian Economies. Eurasian Economists Association, 2010. http://dx.doi.org/10.36880/c01.00222.
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The Eurasian Economic Community (EEC) is an international organization that has been created by five Commonwealth of İndependent States countries (Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan) on October 10th,2000. The object of this organization was promote the creation of a customs union and the common economic space. After ten years in 2010, three countries (Belarus, Russia and Kazakhstan) made a custom union agreement as a second step. And the target is to establish a common economic space by 1 January 2012, a single market for goods, investment and labor. This custom union creates a common market of 170 million people with a $2 trillion economy, $900 billion trade and 90 billion barrels of oil reserves. 
 This three countries have a strategic geopolitical position, rich producer goods reserves:especially oil and natural gas. The economic structure of this three countries can be explain as consumer goods importer, producer goods exporter. This is the exact opposite of European Union economic structure. 
 Therefore, this paper argues that The Eurasian Economic Community would be a good foreign trade market alternative of EU for Turkey. Hence this paper tries to analyse the trade opportunities of this market for Turkey’s export. This paper based on the statistical foreign trade datas of relevant countries.
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Atabey, Naim Ata, Halenur Yılmaz, and Merve Öztürk. "The Role of OECD Corporate Governance Principles in the Integration of Commonwealth of Independent States Countries to the World Economy." In International Conference on Eurasian Economies. Eurasian Economists Association, 2014. http://dx.doi.org/10.36880/c05.01156.
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The founding members of The Organization for Economic Co-operation and Development (OECD) consist of mostly the European countries. The organization which is regional in nature and more focused on Europe has global aims like contributing to developments of world trade and economic development of members and other countries in the process of economic development. Corporate Governance Principles published for the first time in 1999 by OECD that can be adapted by each country according to their circumstances, provide guidance to countries in order to achieve the objectives. Corporate Governance Principles mainly focus on the responsibility, fairness, transparency and accountability. Gaining their independence after the dissolution of Soviet Union, the countries established Commonwealth of Independent States. They began to build their economic structures and make their presence felt in the world economy. Some developments like establishment of capital market can be seen as the best example of that effect. For all countries including Eurasia, adapting to the new institutional arrangements for businesses has become more important to continue their existence. Moreover, such integration between the CIS and world countries will contribute positively to developments of economic and cultural relationships. In this respect, enterprises in CIS countries are expected to shape their organizational structure according to international rules and standards. In this paper, the emerging developments of CIS countries due to being member to OECD and their compliance with Corporate Governance Principles, their possible problems and Corporate Governance Principles which is seen as common ground between CIS and world countries are evaluated.
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Çeştepe, Hamza, and Tamer Güven. "Disincentive Factors for Transformation of the Economic Cooperation Organization to Regional Integration: An Assessment Regarding Intra-regional Trade." In International Conference on Eurasian Economies. Eurasian Economists Association, 2013. http://dx.doi.org/10.36880/c04.00745.
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In this study, the structure and level of intra-regional trade in Economic Cooperation Organization (ECO), which is a movement of regional cooperation founded in the Western and Central Asia region, has been analyzed. In ECO, with a share below its potential at the world trade, intra-regional trade is low relative to other regional integrations such as the European Union. However, the volume of intra-regional trade in the region countries, except a few countries, tend to increase in recent years. In this study, as a result of the evaluation made by the indices calculated, it was found that the region countries is in the position of more complementary economies in context of foreign trade; the countries has generally a high trade intensity with its neighbors; intra-industry trade in the region is at low level. As a result, although the level and structure of intra-regional trade in ECO region seems to be disincentive for the transformation to regional integration as of today, recent developments suggest that this obstacle will gradually diminish in the future. In addition, if some of advantages and potential of the region in terms of regional integration can be valued it does not seem very difficult to reach more advanced stages of integration for this cooperation movement.
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Li, Keshu, and Meixia Shi. "Direct Application of World Trade Organization Rules: By European Court of Justice in European Union Law." In Proceedings of the Third International Conference on Economic and Business Management (FEBM 2018). Atlantis Press, 2018. http://dx.doi.org/10.2991/febm-18.2018.51.
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Ay, Ahmet, Fatih Ayhan, and Mustafa Gerçeker. "Analyzing the Free Movement of Goods Principle in European Union." In International Conference on Eurasian Economies. Eurasian Economists Association, 2015. http://dx.doi.org/10.36880/c06.01419.
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In this paper, it will be analyzed the free movement of goods principle’s progress in European Union. This principle have special importance for all countries not only EU members. Because of globalisation’s effects, all countries have to open their boundaries to all over the World. Thus the free movement of goods affects almost all countries. Free movement of goods principle is achieved a successful progress in EU case. In this paper, we will try to show this principle’s success in EU agreements, regulations, settlements and peaks. Not only in EU, but also all open economies are getting extra benefit from trade. Free movement of goods is a part of international trade and also first step of EU integration process. Followings steps are consisting of free movement of capitals, services and human. In this paper, we’ll show the meaning and importance of this principle and its historical progress in EU. And also it will be analyzed to basic drawback, preventions, and exceptions of this principle.
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Solnyškinienė, Jolanta, and Beata Černis. "Developments of the European Union's export directions in the context of the US-EU trade war." In 11th International Scientific Conference „Business and Management 2020“. VGTU Technika, 2020. http://dx.doi.org/10.3846/bm.2020.645.
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The article assesses which countries in the world are most suitable for export such goods as aluminum, steel, cheese, and meat from the European Union in the context of the European Union – US trade wars. The theoretical study is designed to identify factors that promote the export and import of goods and to identify factors that can be used for further multicriteria research. An investigation using multi-criteria methods, EDAS, TOPSIS and SAW, revealed alternative export countries in the context of the EU-US trade war. The calculated RCA index showed the competitiveness of the analyzed products: aluminum, steel, cheese and meat in the selected countries. Another step was a forecast of exports of the analyzed goods and also was made conclusions to which countries are most suitable to export aluminum,steel, meat, and cheese in the context of the European Union-US trade war.
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Tufaner, Mustafa Batuhan, Hasan Boztoprak, and İlyas Sözen. "An Alternative to The European Customs Union for Turkey in The Framework of Economic Integration Theory: Eurasian Customs Union." In International Conference on Eurasian Economies. Eurasian Economists Association, 2017. http://dx.doi.org/10.36880/c09.01957.
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The liberalization policies begun after 1980 and globalization process bring with new economic associations and trade blocs among countries. The European Customs Union which established to improve economic relations and to make the political integration possible after World War II, reached large trade capacity today. On the other hand, the Post-Soviet countries that followed similar way like European ones established Eurasian Customs Union under the leadership of Kazakhstan, Belarus and Russia. The advantage of European Customs Union for Turkey which became a member of it in 1995 is still discussed. From this viewpoint the study aims to answer a question that Eurasian Customs Union can be an alternative to European Customs Union for Turkey in point of trade capacity. The aim of the study is to discuss the possibility of the Eurasian Customs Union and to compare it with the European Customs Union in which Turkey is involved. In this context, at first, the conceptual framework about the subject will be discussed and European Customs Union and Turkey relations will be examined. After, the current situation of the Eurasian region will be analyzed and the possibility of the Eurasian Customs Union will be discussed. And, which customs union will be more advantageous in terms of Turkey will be examined by VAR analysis.
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Değer, Mustafa Kemal, Muharrem Akın Doğanay, and Osman Murat Telatar. "The Determinants of Turkey's Intra-Industry Trade with European Union Countries: The Gravity Model Results (1996-2013)." In International Conference on Eurasian Economies. Eurasian Economists Association, 2015. http://dx.doi.org/10.36880/c06.01364.
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In recent years, structure of world trade is transformed to intra-industry trade (IIT) that is defined as the import and export of similar commodities. The transformation of foreign trade structure has led to increase either theoretical or empirical studies on IIT. A large part of the empirical studies on international trade deals with gravity model for explaining the determinants of foreign trade. According to gravity model, trade between countries, is affected negatively to the distance between them and positively to the size of the country. Similar statements can be used in terms of the determinants of IIT. Therefore, this study will be carried out determinants of IIT with using the gravity model.
 In this paper, determinants of intra-industry trade in manufacturing sectors between Turkey and European Union (EU) 15 countries will be estimated by panel data regression analysis in 1996-2013 periods. The results of this study indicate that market size and foreign direct investments have positive effects and distance between countries and real effective exchange rate have negative effects on Turkey’s manufacturing sector IIT with EU 15.
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Zagorova, Krassimira. "Analysis of the Mechanism of the Common Organization of the Markets for Agricultural Products in the European Union." In 8th International Scientific Conference ERAZ - Knowledge Based Sustainable Development. Association of Economists and Managers of the Balkans, Belgrade, Serbia, 2022. http://dx.doi.org/10.31410/eraz.2022.1.
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The Common Organization of the Market for Agricultural Products in the European Union is part of the common agricultural policy, which ensures both stable and predictable markets and resilient purchase prices, which in turn safeguards farmers’ stable earnings and provides constant supply of quality food to consumers. The aim of this study is to analyze the applicability and adaptability of the mechanism of the common organization of markets in the EU, including: its internal aspect, mainly related to interventions in the market for agricultural products, and its external aspect related to the trade with third countries, import and export licenses, refund of part of costs associated with exporting agricultural products produced in the Community, etc. The Common Organization of Markets, as a basis for implementing the EU Common Agricultural Policy, operates within a financial framework periodically updated by the European Commission in order to adequately implement the principle of subsidiarity, allowing EU Member States to play a key role in terms of interventions in the agricultural sector.
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Özdemir, Zekai, İlkay Noyan Yalman, and Çağatay Karaköy. "Effects of Openness on Employment in Turkey and EU Countries." In International Conference on Eurasian Economies. Eurasian Economists Association, 2014. http://dx.doi.org/10.36880/c05.01135.
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According to the general theory, it is recognized that exports increase employment. Recently, in the world economy, increasing unemployment, foreign trade of the impact on employment has led to new research. Many of the aforementioned studies validating the theory, some of them have different results. In recent studies in Turkey was a different result. In this study, Turkey and the European Union countries in terms of trade effect on employment will be examined. For this purpose, employment and foreign trade data for the years 2000-2012 using a panel data analysis will be done. Exports, imports, wages, and production depending on the change in employment and the interaction will be investigated. Depending on available data at the sectoral level, there will be a distinction. Especially in the last ten years, the recession and rise in unemployment in Europe will be discussed with the relevant dynamics. In Turkey, the current account deficit, growth, unemployment issues are noteworthy. European Union accession process, Turkey and the European Union countries in the comparison will be significant in the economic indicators.
Reports on the topic "World Trade Organization – European Union countries"
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Bourrier, Mathilde, Michael Deml, and Farnaz Mahdavian. Comparative report of the COVID-19 Pandemic Responses in Norway, Sweden, Germany, Switzerland and the United Kingdom. University of Stavanger, 2022. http://dx.doi.org/10.31265/usps.254.
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The purpose of this report is to compare the risk communication strategies and public health mitigation measures implemented by Germany, Norway, Sweden, Switzerland, and the United Kingdom (UK) in 2020 in response to the COVID-19 pandemic based on publicly available documents. The report compares the country responses both in relation to one another and to the recommendations and guidance of the World Health Organization where available. The comparative report is an output of Work Package 1 from the research project PAN-FIGHT (Fighting pandemics with enhanced risk communication: Messages, compliance and vulnerability during the COVID-19 outbreak), which is financially supported by the Norwegian Research Council's extraordinary programme for corona research. PAN-FIGHT adopts a comparative approach which follows a “most different systems” variation as a logic of comparison guiding the research (Przeworski & Teune, 1970). The countries in this study include two EU member States (Sweden, Germany), one which was engaged in an exit process from the EU membership (the UK), and two non-European Union states, but both members of the European Free Trade Association (EFTA): Norway and Switzerland. Furthermore, Germany and Switzerland govern by the Continental European Federal administrative model, with a relatively weak central bureaucracy and strong subnational, decentralised institutions. Norway and Sweden adhere to the Scandinavian model—a unitary but fairly decentralised system with power bestowed to the local authorities. The United Kingdom applies the Anglo-Saxon model, characterized by New Public Management (NPM) and decentralised managerial practices (Einhorn & Logue, 2003; Kuhlmann & Wollmann, 2014; Petridou et al., 2019). In total, PAN-FIGHT is comprised of 5 Work Packages (WPs), which are research-, recommendation-, and practice-oriented. The WPs seek to respond to the following research questions and accomplish the following: WP1: What are the characteristics of governmental and public health authorities’ risk communication strategies in five European countries, both in comparison to each other and in relation to the official strategies proposed by WHO? WP2: To what extent and how does the general public’s understanding, induced by national risk communication, vary across five countries, in relation to factors such as social capital, age, gender, socio-economic status and household composition? WP3: Based on data generated in WP1 and WP2, what is the significance of being male or female in terms of individual susceptibility to risk communication and subsequent vulnerability during the COVID-19 outbreak? WP4: Based on insight and knowledge generated in WPs 1 and 2, what recommendations can we offer national and local governments and health institutions on enhancing their risk communication strategies to curb pandemic outbreaks? WP5: Enhance health risk communication strategies across five European countries based upon the knowledge and recommendations generated by WPs 1-4. Pre-pandemic preparedness characteristics All five countries had pandemic plans developed prior to 2020, which generally were specific to influenza pandemics but not to coronaviruses. All plans had been updated following the H1N1 pandemic (2009-2010). During the SARS (2003) and MERS (2012) outbreaks, both of which are coronaviruses, all five countries experienced few cases, with notably smaller impacts than the H1N1 epidemic (2009-2010). The UK had conducted several exercises (Exercise Cygnet in 2016, Exercise Cygnus in 2016, and Exercise Iris in 2018) to check their preparedness plans; the reports from these exercises concluded that there were gaps in preparedness for epidemic outbreaks. Germany also simulated an influenza pandemic exercise in 2007 called LÜKEX 07, to train cross-state and cross-department crisis management (Bundesanstalt Technisches Hilfswerk, 2007). In 2017 within the context of the G20, Germany ran a health emergency simulation exercise with WHO and World Bank representatives to prepare for potential future pandemics (Federal Ministry of Health et al., 2017). Prior to COVID-19, only the UK had expert groups, notably the Scientific Advisory Group for Emergencies (SAGE), that was tasked with providing advice during emergencies. It had been used in previous emergency events (not exclusively limited to health). In contrast, none of the other countries had a similar expert advisory group in place prior to the pandemic. COVID-19 waves in 2020 All five countries experienced two waves of infection in 2020. The first wave occurred during the first half of the year and peaked after March 2020. The second wave arrived during the final quarter. Norway consistently had the lowest number of SARS-CoV-2 infections per million. Germany’s counts were neither the lowest nor the highest. Sweden, Switzerland and the UK alternated in having the highest numbers per million throughout 2020. Implementation of measures to control the spread of infection In Germany, Switzerland and the UK, health policy is the responsibility of regional states, (Länders, cantons and nations, respectively). However, there was a strong initial centralized response in all five countries to mitigate the spread of infection. Later on, country responses varied in the degree to which they were centralized or decentralized. Risk communication In all countries, a large variety of communication channels were used (press briefings, websites, social media, interviews). Digital communication channels were used extensively. Artificial intelligence was used, for example chatbots and decision support systems. Dashboards were used to provide access to and communicate data.
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Kira, Beatriz, Rutendo Tavengerwei, and Valary Mumbo. Points à examiner à l'approche des négociations de Phase II de la ZLECAf: enjeux de la politique commerciale numérique dans quatre pays d'Afrique subsaharienne. Digital Pathways at Oxford, 2022. http://dx.doi.org/10.35489/bsg-dp-wp_2022/01.
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Realities such as the COVID-19 pandemic have expedited the move to online operations, highlighting the undeniable fact that the world is continuing to go digital. This emphasises the need for policymakers to regulate in a manner that allows them to harness digital trade benefits while also avoiding associated risk. However, given that digital trade remains unco-ordinated globally, with countries adopting different approaches to policy issues, national regulatory divergence on the matter continues, placing limits on the benefits that countries can obtain from digital trade. Given these disparities, ahead of the African Continental Free Trade Area (AfCFTA) Phase II Negotiations, African countries have been considering the best way to harmonise regulations on issues related to digital trade. To do this effectively, AfCFTA members need to identify where divergencies exist in their domestic regulatory systems. This will allow AfCFTA members to determine where harmonisation is possible, as well as what is needed to achieve such harmonisation. This report analyses the domestic regulations and policies of four focus countries – South Africa, Nigeria, Kenya and Senegal – comparing their regulatory approaches to five policy issues: i) regulation of online transactions; ii) cross-border data flows, data localisation, and personal data protection; iii) access to source code and technology transfer; iv) intermediary liability; and v) customs duties on electronic transmissions. The study highlights where divergencies exist in adopted approaches, indicating the need for the four countries – and AfCFTA members in general – to carefully consider the implications of the divergences, and determine where it is possible and beneficial to harmonise approaches. This was intended to encourage AfCFTA member states to take ownership of these issues and reflect on the reforms needed. As seen in Table 1 below, the study shows that the four countries diverge on most of the five policy issues. There are differences in how all four countries regulate online transactions – that is, e-signatures and online consumer protection. Nigeria was the only country out of the four to recognise all types of e-signatures as legally equivalent. Kenya and Senegal only recognise specific e-signatures, which are either issued or validated by a recognised institution, while South Africa adopts a mixed approach, where it recognises all e-signatures as legally valid, but provides higher evidentiary weight to certain types of e-signatures. Only South Africa and Senegal have specific regulations relating to online consumer protection, while Nigeria and Kenya do not have any clear rules. With regards to cross border data flows, data localisation, and personal data protection, the study shows that all four focus countries have regulations that consist of elements borrowed from the European Union (EU) General Data Protection Regulation (GDPR). In particular, this was regarding the need for the data subject's consent, and also the adequacy requirement. Interestingly, the study also shows that South Africa, Kenya and Nigeria also adopt data localisation measures, although at different levels of strictness. South Africa’s data localisation laws are mostly imposed on data that is considered critical – which is then required to be processed within South African borders – while Nigeria requires all data to be processed and stored locally, using local servers. Kenya imposes data localisation measures that are mostly linked to its priority for data privacy. Out of the four focus countries, Senegal is the only country that does not impose any data localisation laws. Although the study shows that all four countries share a position on customs duties on electronic transmissions, it is also interesting to note that none of the four countries currently have domestic regulations or policies on the subject. The report concludes by highlighting that, as the AfCFTA Phase II Negotiations aim to arrive at harmonisation and to improve intra-African trade and international trade, AfCFTA members should reflect on their national policies and domestic regulations to determine where harmonisation is needed, and whether AfCFTA is the right platform for achieving this efficiently.
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Monetary Policy Report - July 2022. Banco de la República, 2022. http://dx.doi.org/10.32468/inf-pol-mont-eng.tr3-2022.
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In the second quarter, annual inflation (9.67%), the technical staff’s projections and its expectations continued to increase, remaining above the target. International cost shocks, accentuated by Russia's invasion of Ukraine, have been more persistent than projected, thus contributing to higher inflation. The effects of indexation, higher than estimated excess demand, a tighter labor market, inflation expectations that continue to rise and currently exceed 3%, and the exchange rate pressures add to those described above. High core inflation measures as well as in the producer price index (PPI) across all baskets confirm a significant spread in price increases. Compared to estimates presented in April, the new forecast trajectory for headline and core inflation increased. This was partly the result of greater exchange rate pressure on prices, and a larger output gap, which is expected to remain positive for the remainder of 2022 and which is estimated to close towards yearend 2023. In addition, these trends take into account higher inflation rate indexation, more persistent above-target inflation expectations, a quickening of domestic fuel price increases due to the correction of lags versus the parity price and higher international oil price forecasts. The forecast supposes a good domestic supply of perishable foods, although it also considers that international prices of processed foods will remain high. In terms of the goods sub-basket, the end of the national health emergency implies a reversal of the value-added tax (VAT) refund applied to health and personal hygiene products, resulting in increases in the prices of these goods. Alternatively, the monetary policy adjustment process and the moderation of external shocks would help inflation and its expectations to begin to decrease over time and resume their alignment with the target. Thus, the new projection suggests that inflation could remain high for the second half of 2022, closing at 9.7%. However, it would begin to fall during 2023, closing the year at 5.7%. These forecasts are subject to significant uncertainty, especially regarding the future behavior of external cost shocks, the degree of indexation of nominal contracts and decisions made regarding the domestic price of fuels. Economic activity continues to outperform expectations, and the technical staff’s growth projections for 2022 have been revised upwards from 5% to 6.9%. The new forecasts suggest higher output levels that would continue to exceed the economy’s productive capacity for the remainder of 2022. Economic growth during the first quarter was above that estimated in April, while economic activity indicators for the second quarter suggest that the GDP could be expected to remain high, potentially above that of the first quarter. Domestic demand is expected to maintain a positive dynamic, in particular, due to the household consumption quarterly growth, as suggested by vehicle registrations, retail sales, credit card purchases and consumer loan disbursement figures. A slowdown in the machinery and equipment imports from the levels observed in March contrasts with the positive performance of sales and housing construction licenses, which indicates an investment level similar to that registered for the first three months of the year. International trade data suggests the trade deficit would be reduced as a consequence of import levels that would be lesser than those observed in the first quarter, and stable export levels. For the remainder of the year and 2023, a deceleration in consumption is expected from the high levels seen during the first half of the year, partially as a result of lower repressed demand, tighter domestic financial conditions and household available income deterioration due to increased inflation. Investment is expected to continue its slow recovery while remaining below pre-pandemic levels. The trade deficit is expected to tighten due to projected lower domestic demand dynamics, and high prices of oil and other basic goods exported by the country. Given the above, economic growth in the second quarter of 2022 would be 11.5%, and for 2022 and 2023 an annual growth of 6.9% and 1.1% is expected, respectively. Currently, and for the remainder of 2022, the output gap would be positive and greater than that estimated in April, and prices would be affected by demand pressures. These projections continue to be affected by significant uncertainty associated with global political tensions, the expected adjustment of monetary policy in developed countries, external demand behavior, changes in country risk outlook, and the future developments in domestic fiscal policy, among others. The high inflation levels and respective expectations, which exceed the target of the world's main central banks, largely explain the observed and anticipated increase in their monetary policy interest rates. This environment has tempered the growth forecast for external demand. Disruptions in value chains, rising international food and energy prices, and expansionary monetary and fiscal policies have contributed to the rise in inflation and above-target expectations seen by several of Colombia’s main trading partners. These cost and price shocks, heightened by the effects of Russia's invasion of Ukraine, have been more prevalent than expected and have taken place within a set of output and employment recovery, variables that in some countries currently equal or exceed their projected long-term levels. In response, the U.S. Federal Reserve accelerated the pace of the benchmark interest rate increase and rapidly reduced liquidity levels in the money market. Financial market actors expect this behavior to continue and, consequently, significantly increase their expectations of the average path of the Fed's benchmark interest rate. In this setting, the U.S. dollar appreciated versus the peso in the second quarter and emerging market risk measures increased, a behavior that intensified for Colombia. Given the aforementioned, for the remainder of 2022 and 2023, the Bank's technical staff increased the forecast trajectory for the Fed's interest rate and reduced the country's external demand growth forecast. The projected oil price was revised upward over the forecast horizon, specifically due to greater supply restrictions and the interruption of hydrocarbon trade between the European Union and Russia. Global geopolitical tensions, a tightening of monetary policy in developed economies, the increase in risk perception for emerging markets and the macroeconomic imbalances in the country explain the increase in the projected trajectory of the risk premium, its trend level and the neutral real interest rate1. Uncertainty about external forecasts and their consequent impact on the country's macroeconomic scenario remains high, given the unpredictable evolution of the conflict between Russia and Ukraine, geopolitical tensions, the degree of the global economic slowdown and the effect the response to recent outbreaks of the pandemic in some Asian countries may have on the world economy. This macroeconomic scenario that includes high inflation, inflation forecasts, and expectations above 3% and a positive output gap suggests the need for a contractionary monetary policy that mitigates the risk of the persistent unanchoring of inflation expectations. In contrast to the forecasts of the April report, the increase in the risk premium trend implies a higher neutral real interest rate and a greater prevailing monetary stimulus than previously estimated. For its part, domestic demand has been more dynamic, with a higher observed and expected output level that exceeds the economy’s productive capacity. The surprising accelerations in the headline and core inflation reflect stronger and more persistent external shocks, which, in combination with the strength of aggregate demand, indexation, higher inflation expectations and exchange rate pressures, explain the upward projected inflation trajectory at levels that exceed the target over the next two years. This is corroborated by the inflation expectations of economic analysts and those derived from the public debt market, which continued to climb and currently exceed 3%. All of the above increase the risk of unanchoring inflation expectations and could generate widespread indexation processes that may push inflation away from the target for longer. This new macroeconomic scenario suggests that the interest rate adjustment should continue towards a contractionary monetary policy landscape. 1.2. Monetary policy decision Banco de la República’s Board of Directors (BDBR), at its meetings in June and July 2022, decided to continue adjusting its monetary policy. At its June meeting, the BDBR decided to increase the monetary policy rate by 150 basis points (b.p.) and its July meeting by majority vote, on a 150 b.p. increase thereof at its July meeting. Consequently, the monetary policy interest rate currently stands at 9.0% . 1 The neutral real interest rate refers to the real interest rate level that is neither stimulative nor contractionary for aggregate demand and, therefore, does not generate pressures that lead to the close of the output gap. In a small, open economy like Colombia, this rate depends on the external neutral real interest rate, medium-term components of the country risk premium, and expected depreciation. Box 1: A Weekly Indicator of Economic Activity for Colombia Juan Pablo Cote Carlos Daniel Rojas Nicol Rodriguez Box 2: Common Inflationary Trends in Colombia Carlos D. Rojas-Martínez Nicolás Martínez-Cortés Franky Juliano Galeano-Ramírez Box 3: Shock Decomposition of 2021 Forecast Errors Nicolás Moreno Arias