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FTA Business Consultation Event

FTA Business Consultation Event. 1 Victoria Street 14 th July 2015. Trade in Services Agreement (TiSA).

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FTA Business Consultation Event

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  1. FTA Business Consultation Event 1 Victoria Street 14th July 2015

  2. Trade in Services Agreement (TiSA) • TiSA is now in its 2nd year of negotiations. The 13th round of negotiations took place in Geneva on 6 July. Included in the round was a ‘stock-take’ aimed at assessing current progress and agreeing / locking down the parameters of the negotiation. Going forward, no new proposals will be able to be tabled going forward. Context • Progress is smooth with many sectors now becoming stable. The UK is especially pleased with recent developments in financial services and delivery services. • The agreement continues to attract new partners with Uruguay taking country membership to 24. Mauritius is likely to join shortly. • Following on from the stocktake, there will be pressure for all parties to improve their initial offers. UK will be lobbying hard – through our posts to encourage improved offers from countries we have a strategic interest in. • Likely conclusion date for negotiations is mid 2016. • Further input from industry, particularly on market access obstacles being faced in TISA countries is always welcome. Progress Next steps

  3. TTIP: (EU-US FTA) Context • Round 10 this week. G7 agreed to accelerate. • Could increase EU GDP by over £100bn Progress • Good technical progress, with UK strongly engaged on priorities • EU published concept paper on ISDS • US agreed Trade Promotion Authority • EU Parliament passed TTIP resolution Next steps • Focus on reaching a deal in 2015 • Continue positive messaging to allay concerns and stress the benefits

  4. EU-Canada FTA Context • Negotiations concluded in September 2014. Most ambitious EU trade deal • Expected £1.3bn to UK Progress • Legal and translation work is underway, expect implementation late 2016 Next steps • UKTI promotional work – report on the opportunities end of 2015

  5. WTO Trade Facilitation Agreement and DDA round work • Trade Facilitation Agreement agreed in Bali December 2013. Context • Implementing the agreement could add £70 billion a year to global GDP. • UK could see up to £1bn annual GDP gains. • On 27 November 2014 the WTO General Council agreed to take forward the TFA and other outcomes agreed in Bali Key Issues Next steps • Move quickly on ratifying the TFA • Work on the other elements of the Bali package paying particular attention to food security and to LDC issues • take forward discussion on the post-Bali work programme for completing the DDA

  6. WTO Green Goods • Reducing tariffs on environmental goods • 17 WTO members • Building on APEC agreement Context Progress • 3 new members joined • 7th round of negotiations • Initial list of 650+ product lines Next steps • Agree consensus list • Text of agreement with review mechanism • Agreement by COP21 and MC10

  7. EU-Mercosur FTA • Brazil, Uruguay and Paraguay are close to 90% tariff reductions. Waiting for Argentina to reach this level before an exchange of offers can take place. Context Progress • Provided conditions for a successful exchange are met, market access offers could be exchanged in November 2015. Next steps • Technical meeting in September to decide if conditions are met for an exchange of offers to take place

  8. EU-Andean • Trade agreements in place with Peru and Colombia. Negotiations concluded for Ecuador to join the EU-Andean agreement in July 2014 Context • Peru and Colombia to approve Ecuador’s accession then text is sent to European Council for Signature and then European Parliament for approval Progress Next steps • Expect trade agreement with Ecuador to be in force by mid- 2016 • UKTI research and promotional work underway

  9. EU-Mexico FTA Context • EU and Mexico committed to a comprehensive and ambitious modernisation of the trade agreement Progress • Joint Vision Report finalised in June • Impact assessment due end of 2015 • Commission to seek a mandate early 2016 Next steps • Businesses feed in priorities to UK Gov • Negotiations to be launched early-mid 2016 and could be concluded 2018

  10. EU-Vietnam FTA Context • Progress is good; transhipment, 90% tariff elimination and an English web-portal for government tenders agreed in principle • Tariff staging and market access barriers (pharma & spirits) remain key asks in particular • EU & MSs share priorities and remain positive Progress Next steps • 14th round scheduled for w/c 21st July 2015 • Political agreement hoped for by end of July • Funding in place for UKTI promotion work

  11. EU-Singapore FTA Context • Negotiations concluded in October 2014 Progress • FTA referred to ECJ on 10th July 2015 • UKTI due to identify, publish and promote UK FTA opportunities Next steps • ECJ process due to take 18 months; FTA therefore delayed to late 2016/early 2017

  12. EU-Thailand FTA • Military coup in May 2014 Context • In the absence of a democratically elected government, the Commission has pulled away from FTA engagement Progress Next steps • Thai elections in 2016 may therefore be next opportunity for the EU to engage

  13. EU-Indonesia CEPA Context • CEPA scoping started in 2012, but Indonesia ultimately did not respond and instead pursued self-sufficiency and protectionism • At the annual EU-ASEAN dialogue in April 2015, Indonesia expressed renewed desire to negotiate a CEPA Progress Next steps • Commission has agreed to discuss the prospect at the annual EU-Indonesia dialogue in September 2015

  14. EU-Malaysia FTA Context • Seven negotiating rounds before suspension in 2013, for Malaysian elections • TPP near conclusion • EEAS suggested in June 2015 that Malaysia is likely to reengage towards the end of the year, as originally planned Progress Next steps • Should initial scoping talks proceed in 2015, the EEAS say there is potential for a formal round in early 2016

  15. Other ASEAN FTAs • EU-ASEAN FTA remains long-term goal, and it is at this point that other ASEAN nations will most likely be brought into the picture Context • Exception is the EU-Burma investment agreement, which is a stepping stone towards a potential FTA in the future Progress Next steps • Negotiations on EU-Burma investment agreement to continue

  16. EU-Japan FTA Context • Impact Assessment: +€42bn for EU • Tackling NTBs key to benefits for EU • May’s EU-Japan summit reiterated desire to reach agreement by end 2015 • 11th round took place from 6-10 July • Steady progress by Japanese on NTBs in key sectors Progress Next steps • 12th Round (expected September) • Continued progress on NTBs • Exchanges on key sensitive tariff lines

  17. EU-India FTA Context • Negotiations stalled in 2013 • Modi’s pro business sense gives us hope for progress Progress • Domestic reforms and new initiatives should help India be more flexible in negotiations Next steps • Lord Maude to visit India in September • Modi to visit UK in November • EU-India Summit in November

  18. EU-China Investment Context • Concerns over market access, state-owned enterprises, and IP protection • Focused UK engagement with China • Low levels of EU investment in China • Proposed Chinese and Commission texts have been fully discussed and Cion/China about to enter next phase of active negotiation in September. • Resolution of anti-dumping telecoms case Progress • Support EU in negotiations • Explore steps towards a future EU-China FTA Next steps

  19. Eastern Partnership Context • More political / stability-related • Small immediate economic impact for UK Progress • EU-Armenia Framework Agreement negotiating directive discussions ongoing • EU-Kazakhstan Enhanced Partnership and Cooperation Agreement awaiting provisional application Next steps • Work towards implementation of Ukraine DCFTA - on course to be implemented from 1 Jan 2016 • EU-Armenia Framework Agreement negotiations

  20. EU-ACP EPAs Context • Development friendly regional trade deals • Aim to promote trade with ACP states • Negotiations ongoing over last 10 years Progress • West, Southern, and East Africa concluded • West Africa: Majority of signatures secured • Southern, East: legal scrubbing, translation • Complete West African signatures • Southern and East ready for end of year • Implementation and negotiations elsewhere Next steps

  21. GSP Trade Preferences Context • Opportunities for UK importers • Generous tariff reductions available for imports from developing countries to the EU • GSP granted to 90 countries (49 LDCs) • China, Thailand, Ecuador, Maldives removed • GSP+ granted to 13 applicants Progress Next steps • GSP+ assessment report at end of year • More GSP countries to be removed 1 Jan 2017 • New thresholds for 2017 to be published

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