Tuesday, July 5, 2011
Nigeria Trade Policy Review on June 28 and 30, 2011 – Highlights of the Executive Summary on Nigeria from the WTO Website
Thursday, August 26, 2010
Ann Thania Alex
LL.M. IInd year
Friday, July 30, 2010
EXPORTS (including re-exports)
Exports during May, 2010 were valued at US $ 16145 million (Rs. 73964 crore) which was 35.1 per cent higher in dollar terms (27.5 per cent higher in Rupee terms) than the level of US $ 11952 million (Rs.58005 crore) during May, 2009. Cumulative value of exports for the period April-May 2010 was US $ 33032 million (Rs 149111 crore) as against US $ 24349 million (Rs. 120069 crore) registering a growth of 35.7 per cent in Dollar terms and 24.2 per cent in Rupee terms over the same period last year.
Imports during May, 2010 were valued at US $ 27437 million (Rs.125694 crore) representing a growth of 38.5 per cent in dollar terms (30.8 per cent in Rupee terms) over the level of imports valued at US $ 19806 million ( Rs. 96125 crore) in May, 2009. Cumulative value of imports for the period April-May, 2010 was US $ 54745 million (Rs. 247211 crore) as against US $ 38858 million (Rs. 191502 crore) registering a growth of 40.9 per cent in Dollar terms and 29.1 per cent in Rupee terms over the same period last year.
CRUDE OIL AND NON-OIL IMPORTS:
Oil imports during May, 2010 were valued at US $ 8844 million which was 66.7 per cent higher than oil imports valued at US $ 5306 million in the corresponding period last year. Oil imports during April-May, 2010 were valued at US$ 16923 million which was 68.5 per cent higher than the oil imports of US $ 10045 million in the corresponding period last year.
Non-oil imports during May, 2010 were estimated at US $ 18593 million which was 28.2 per cent higher than non-oil imports of US $ 14500 million in May, 2009. Non-oil imports during April - May, 2010 were valued at US$ 37822 million which was 31.3 per cent higher than the level of such imports valued at US$ 28813 million in April - May, 2009
The trade deficit for April - May, 2010 was estimated at US $ 21712 million which was higher than the deficit of US $ 14509 million during April -May, 2009.
Faculty of Law,
ICFAI University, Dehradun,
Wednesday, July 28, 2010
On July 18, 2010, Afghanistan and Pakistan reached a landmark agreement on a transit trade deal. The new deal will allow Afghanistan to use the Wagah land route in Pakistan to transport goods by land to India. However, Indian products cannot be sent in the opposite direction.
The use of this land route to connect Afghanistan to India had been a major source of contention during the talks, with Pakistan asserting that India is not meant to be covered by the Afghanistan-Pakistan Transit Trade Agreement (APTTA).
Other provisions of the final agreement include sea access for Afghanistan, via Pakistan's ports, along with the opportunity for Pakistan to use Afghanistan as a gateway to the rest of Central Asia. The agreement also aims to standardise customs and transit permit arrangements. The pact is expected to be a huge boost to the Afghan economy, especially for pomegranate producers and other farmers, who will now have much easier access to international markets.
The Agreement is expected to contribute in the development of South Asia where the transport of goods from Afghanistan to India will be much easier now which will cut the transaction cost. And it will bring Afghanistan into the mainstream of the South Asian Trading Environment. This Agreement, further, can be made a platform for the liberalization of trade relations within the SAARC Region.
Faculty of Law,
ICFAI University, Dehradun,
The Sixteenth Meeting of the Head of the States or Governments of Member Countries of South Asian Association for Regional Cooperation (SAARC) was held on April 28-29, 2010 in Thimpu, Bhutan. The theme of the Summit was 'Climate Change'. The Leaders welcomed Climate Change as the theme for the Summit and reaffirmed their commitment to address this challenge. They also adopted the 'Thimphu Statement on Climate Change' and directed that the recommendations contained therein be implemented in earnest. During the Summit the Leaders expressed the satisfaction that SAARC has achieved a number of important milestones with the completion of twenty five years of its establishment. Off course, the twenty five years standing and survivorship of SAARC as an organization in spite of bitterness of bilateral relations of two major power of the region India and Pakistan, is itself an evidence of its success.
In the Silver Jubilee Year of SAARC, the Leaders emphasized the need to develop a 'Vision Statement'. They agreed to form a 'South Asia Forum' which will consist of eminent personalities of diverse background including from all SAARC Member States. The Forum would provide inputs based on a comprehensive understanding for charting out the future course of SAARC in the medium and long run and recommend the necessary improvements required in the existing mechanisms.
The Leaders emphasized upon the participation of each and every section of the South Asian Community, particularly its students and youth, private media, private sector, think tanks, civil society and institution of economic development. The Leaders recognized the need to draw on the democratic and participatory tradition collectively represented by the Parliamentarians of South Asia for the progress of SAARC. The Leaders were eager to encourage the involvement of private sector in the regional development though the public-private partnership. In this context, they recommended the convening of a "Conclave of SAARC Parliamentarians" in line with the SAARC Charter and directed the SAARC Secretariat to convene of Working Group, comprising nominees of the Member States, to work out the modalities for establishment of such a Conclave.
In the two days Summit, Bhutan pursued the Concept of Gross national Happiness (GNH) for ensuring the people-centric development, culture, preservation of environment, better governance. Other Member States also welcomed Bhutan's offer to host a SAARC Workshop on GNH in 2010. The SAARC meeting took note on deepening regional efforts on poverty alleviation. Further, the Member States welcomed the offer of the Government of Nepal to host the Third Ministerial Meeting on Poverty Alleviation in 2011.
In pursuance of the recommendation contained in the SAARC Ministerial Statement on Environment on conservation of aquatic ecosystem, trans boundary bio-diversity zones, automated network of weather stations and regular and systematic sharing of scientific data. The Leaders called for focus on water management and conservation and development of cooperative projects at regional level in terms of exchange of best practices and knowledge, capacity building and transfer of eco-friendly technology. They were deeply concerned by the extent of environmental degradation in the region. They welcomed the signing of the SAARC Convention on Cooperation on Environment and called for its early ratification and implementation.
Further they showed satisfaction for the ongoing initiatives in promoting gender equality and women's empowerment through regional cooperation. The Government of Maldives announce to nominate a Woman Secretary General as the Tenth Secretary General of SAARC which can be proved another milestone in the path of achieving goals for regional cooperation. Recognizing the important role young people play in the region, the Leaders directed the development of a SAARC Youth Action Plan, in line with the SAARC Youth Charter to guide regional cooperation in this area.
The Member States cheered upon the ratification of the SAARC Development Fund (SDF) Charter and also the inauguration and operationalization of the Permanent Secretariat of the SDF including the appointment of its first Chief Executive Officer (CEO). The Leaders emphasized the need for the Member States to take full advantage of the mechanism of the SDF through expeditious clearance and implementation of the projects and programmes to promote the welfare of the people of the SAARC region, to improve their quality of life and to accelerate economic growth, social progress and poverty alleviation in the region.
The Ministers urged the need to implement the SAFTA in letter and spirit. They emphasised on the removal of non-tariff, para-tariff and other trade distorting barriers with the strong working of SAFTA Ministerial Council. The Leaders welcomed the signing of the SAARC Agreement on Trade in Services and expressed that this will open up new vistas of trade cooperation and further deepen the integration of the regional economies. They called for the early ratification of the Agreement.
The Leaders noted with appreciation that SAARC Commerce Ministers had coordinated SAARC position on WTO Issues and Doha Development Agenda during the Seventh WTO Ministerial Conference and agreed on the SAARC Ministerial Communiqué. They directed the Commerce Ministers to continue the process.
The Leaders called for collaborative efforts to achieve greater intra-regional connectivity and endorsed the recommendation to declare 2010-2020 as the "Decade of Intra-regional Connectivity in SAARC". They agreed on the need to expedite negotiations with a view to finalizing the two agreements on Motor Vehicles and Railways.
The need to enhance cooperation was felt in the energy sector to facilitate energy trade, development of efficient conventional and renewable energy sources including hydropower. The Leaders agreed that an Action Plan on Energy conservation would be prepared by the SAARC Energy Centre (SEC), Islamabad with inputs from the Member States and submit to the inter- governmental mechanism for consideration. They called for the creation of a web portal on Energy Conservation for exchange of information and sharing of best practices among SAARC Member States.
Further the countries, Australia, the People's Republic of China, the Islamic Republic of Iran, Japan, the Republic of Korea, Mauritius, the Union of Myanmar, the United States of America and the European Union were given the observer status during the summit, whereas Australia and Myanmar attended the Summit for the first time. The Seventeenth Summit shall be held in Maldives in 2011.
LL.B. (Hons.), LL.M. (International Trade and Business Laws)
Faculty of Law,
ICFAI University, Dehradun,
Mobile No.: +91 9012372533
Sunday, July 11, 2010
Now we can say that LL.M. in India is also going places.
Will be back with more updates…
Visit NALSAR website here
Visit Faculty of Law Exchange program of Faculty of Law University of Western Ontario, Canada here