Multilateral rules-based trade, championed by the World Trade Organization (WTO) and its predecessor, the General Agreement on Tariffs and Trade (GATT), refers to the system where international trade is conducted according to agreed-upon transparent, non-discriminatory and impartial rules, negotiated by all its members, rather than being subject to the whims of individual governments.
Thoughts on trade, investment and development from the ARTNeT community
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In July 2023, Germany rolled out its much-awaited strategic document on China. The strategy highlights how Germany perceives China now (italics added) given China’s economic rise, as well as how Germany would want to interact now (italics added), bilaterally and mu
BRICS (Brazil, Russia, India, China, and South Africa) is indeed a relatively young organization, established in 2009. BRICS Countries Grouping evolved from an idea in 2001 by Goldman Sachs economist Jim O'Neill, who proposed it merely on the basis of economic prospects these countries have in the evolving and shifting global economic order. Its primary objective has been on economic cooperation, development, and promoting multilateralism.
While railway is considered an economical and efficient mode of transportation, cross-border railway connectivity in the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) region is constrained by varying track gauges, among other factors.
Cambodia’s investment law that was put in place for the first time in 1994 consisting of 9 chapters was amended in 2003 to revise a number of articles (RGC, 1994 and 2003). The 2003 Amended Law on Investment was an important step, among others, with regard to the investment approval scheme by adopting the automatic approval system of the investment projects which must be completed within 31 working days after the investment project was filed to be considered for approval (RGC, 2003, Article 7 New).
Even as India’s FTA negotiation priorities have seen a noteworthy course correction to match her domestic priorities, we are yet to see a similar convergence in relation to negotiation strategies adopted at the multilateral level.
Abstract: This piece will start with the crisis in the global trading system in 2022, as precipitated by the trade war between the US and China, and impasse on WTO reform, and the paralysis of the dispute settlement system. It will then describe the best-case scenario for 2030, focusing mainly on global trade cooperation centred around the WTO, but also mentioning the cooperation in two related areas, i.e., climate change and data governance.
At the recently concluded Colombo Summit, the leaders of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) group of countries adopted a Master Plan for Transport Connectivity. Now, we need a framework for its operationalisation.