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THE STRIKING of a trade agreement between the European Union (EU) and a UK to pave Britain’s final and full exit from the EU from January 1 has offered US auto exporters opportunities to boost sales to the UK, but with some significant challenges, say experts.…

Unprecedently severe bottlenecks in merchandise trades between Asia and the rest of the world caused by Covid-19 economic disruption is continuing to frustrate apparel retailers in Europe and the US. High levels of demand, port congestion and shortages of containers have been pushing up costs, with shipping rates for the Shanghai-Rotterdam and Shanghai-Los Angeles routes on January 21 being up 296% and 153% year-on-year respectively, according to UK-based maritime consultancy Drewry. …

BRITISH and European Union (EU) confectioners must take care to ensure their products meet new origin rules if they want them covered by the duty free goods provisions of the new EU/UK trade agreement struck on Christmas Eve.

The 1,256-page deal includes complex and comprehensive origin rules, such as for chocolate, which can be deemed made in the EU and Britain if all dairy, eggs and honey used are sourced locally, as well as at least 40% of grains, malt, starches and wheat, (which must also not exceed 30% of costs).…

ARAB COUNTRIES MUST JOIN WEST IN DIPLOMATIC ENGAGEMENT WITH SYRIA TO FORGE NEW PEACE

After a 10-year-old civil war in which an estimated 400,000 people have died, calls for restoring diplomatic relations with the ruthless government of Bashar al-Assad, now controlling around 75% of the country, sound like bitter medicine.…

Many of European Union’s 27 member states appear to have been dragging their feet when implementing a key provision of the fifth anti-money laundering directive (5AMLD) (1), setting up a public ultimate beneficial ownership (UBO) register.  The registers should have gone live for the corporate world on January 10, 2020, and two months later on March 10 for trusts.…

The European Chief Prosecutor (ECP) of the embryonic European Public Prosecutor’s Office (EPPO) has challenged the 22 European Union (EU) states (1) that have signed up to an enhanced cooperation pact underpinning its existence to properly fund the new institution. Without enough money, the EPPO will not be effective, ECP Laura Codruţa Kövesi told Fraud Intelligence.…

ITALY’s paint industry is hopeful that the end of the country’s Covid-19 lockdown will herald a surge in business, interrupted by the pandemic. Gianni Martinetti, president of the Paints and Varnishes Group of AVISA, the adhesives and sealants, paints and varnishes and inks division of national chemicals industry association, Federchimica said: “The hope is that, after two very hard months of lockdown, we can start again with the same liveliness that was found in the first quarter of 2020.”…

CONSTRUCTION projects likely to generate major purchases of paints and coatings are likely to be a focus of a new ‘Next Generation EU’ budget commanding EUR750 billion between 2021 and 2024, financed by borrowing through bond issues against European Union (EU) direct revenues from sources such as import duties.…

CANADA’S Automotive Parts Manufacturers’ Association (APMA) is optimistic that the United States-Mexico-Canada Agreement (USMCA) will deliver more sustained work to the country’s supply chain once the deal comes into force on July 1. It replaces the North American Free Trade Agreement (NAFTA), in place since 1994.…

Tunisia’s textile and clothing industry association, the FTTH (Fédération tunisienne du textile-habillement) has commissioned a report on the impact of Covid-19 on this outsourcing centre, including policy options to enable its companies to recover. It will work with the Middle East and north African wing of the Global Textiles and Clothing Programme (GTEX/MENATEX) over two months to generate a post-pandemic plan.…