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Trade Bloc

All articles tagged with #trade bloc

international-relations2 years ago•2 min saved

Somalia Joins East African Trade Bloc

Somalia has officially become the eighth member of the East African Community (EAC), a regional trade bloc, after seeking membership since 2012. The admission of Somalia, with a population of 17 million, expands the EAC market to over 300 million people. The EAC aims to promote free trade by eliminating customs duties among member states and established a common market in 2010. However, Somalia's inclusion may pose security challenges due to its ongoing struggle against the al-Shabab group. Despite concerns about governance and human rights, Somalia's entry is seen as a significant step in the EAC's expansion across East Africa.

via Al Jazeera English|

#east-african-community #economic-cooperation #international-relations

trade2 years ago

UK Joins Trans-Pacific Partnership to Boost International Trade

The UK has agreed to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a trade bloc of 11 countries in the Asia-Pacific region. The agreement will reduce tariffs on UK exports such as whisky and cars, and increase access to markets including Canada, Japan, and Australia. The move is seen as a step towards the UK's goal of forging closer economic partnerships with countries outside of the EU.

via Financial Times|

#agreement #asia-pacific #economic-partnership

trade2 years ago•1 min saved

Britain Joins Indo-Pacific Trade Bloc in Major Agreement.

Britain has secured an agreement to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), becoming the first new nation to join the 12-nation trade bloc since its establishment in 2018. The deal's market access requirements and sanitary and phytosanitary standards have been met by the UK, and a resolution of a spat with Canada over agricultural market access has smoothed the way to joining up. The deal will be signed at a later time after legal verification and translation into various languages.

via POLITICO Europe|

#britain #cptpp #indo-pacific