The Obama administration aims to develop over the coming year initiatives to enhance trade and investment with Turkey, said U.S. Trade Representative (USTR) Michael Froman on May 14, noting the skyrocketing Turkish economy. Froman met with Turkish Minister of Economy Nihat Zeybekci, Deputy Prime Minister Ali Babacan and U.S. Commerce Secretary Penny Pritzker to host a bilateral Framework for Strategic Economic and Commercial Cooperation. U.S. firms exported more than $12 billion in goods and services to Turkey in fiscal year 2013, representing a three-fold increase from ten years ago, said Froman in a press release.
The U.S. and Pakistan will work together to diversify agricultural production, increase protection for intellectual property rights and implement the World Trade Organization Agreement on Trade Agreement as part of a Joint Action plan announced by officials from both sides on May 13. The plan is established in accordance with the U.S.-Pakistan Trade and Investment Framework Agreement. “Trade with Pakistan supports good-paying jobs in the United States and is a key part of our effort to unlock opportunity for American workers, businesses, farmers, and ranchers. Our trade relationship also provides tremendous benefits to the people of Pakistan as they grow their economy and move into the future,” said U.S. Trade Representative Michael Froman in a press release. The U.S. and Pakistan also signed a Memorandum of Understanding aimed at economically empowering Pakistani women, developing female entrepreneurship, and securing economic and business opportunities for women.
The U.S. and European Union should publish the draft Transatlantic Trade and Investment Partnership (TTIP) chapters on sanitary and phytosanitary and technical barriers to trade, along with the regulatory cooperation and coherence text, said more than 175 environmental groups, unions and other non-governmental organizations in a May 12 letter to U.S. Trade Representative Michael Froman and European Union (EU) Commissioner Karel De Gucht. The regulatory changes the agreement will mandate will likely force alterations to both U.S. and EU law, and may include “cost-benefit” and “trade impact” analyses for regulation or legislation, said the organizations.
Assistant U.S. Trade Representative (USTR) for Southeast Asia and the Pacific, Barbara Weisel, traveled to Ho Chi Minh City, Vietnam on May 12 for a Trans-Pacific Partnership chief negotiators meeting, the Office of the USTR said in a weekly schedule release. USTR Michael Froman will travel to Beijing, China on May 15 to meet with Chinese government officials. The USTR chief will then travel to Qingdao, China to attend an Asia-Pacific Economic Cooperation (APEC) ministerial meeting and participate in a series of additional APEC events from May 16-18. Froman will wrap up the Asia tour with a May 19-20 “check-in” with TPP ministers in Singapore.
The U.S. asked the World Trade Organization (WTO) Dispute Settlement Body to establish a panel to evaluate the legality of Indonesian licensing restrictions on horticultural products, animals, and animal products, U.S. Trade Representative (USTR) Michael Froman said on May 8. The WTO previously established a panel on the matter in April 2013, after bilateral consultations failed to broker compromise (here). The U.S. is now requesting additional consultation to address recent changes to the licensing requirements, said the Office of the USTR.
The African Growth and Opportunity Act continues to lay the foundation for U.S. trade with sub-Saharan Africa, and the Obama administration is committed to “seamless” renewal of the program, said U.S. Trade Representative Michael Froman in a statement to reporters. Froman attended the World Economic Forum on Africa conference in Abuja, Nigeria on May 8. The law expires at the end of fiscal year 2015, and industry officials say renewal legislation must be passed by the end of 2014 in order to maintain current sourcing relationships. “Africa is home to some of the fastest growing economies in the world and there has been important progress in establishing an improved business environment in several African countries," said Froman, while noting the administration aims to recommend enhancements to the law. “President Obama is committed to a robust and fruitful trade relationship with Africa, and USTR will continue working to spur the growth and development that brings our peoples closer together.” Some industry officials have called for changes to the rules of origin and investment protections, among other enhancements, in reauthorization legislation (see 14040402).
U.S. Trade Representative (USTR) Michael Froman will travel to Abuja, Nigeria on May 8 to attend the World Economic Forum on Africa, said the Office of the USTR.
The success of other World Trade Organization (WTO) priorities is contingent on full implementation of the WTO Trade Facilitation Agreement, said U.S. Trade Representative Michael Froman at a WTO mini-ministerial meeting in Paris, France on May 7. Froman pledged further financial support to those countries that need the most facilitation development assistance. The WTO partners should also continue to work to reconcile differences on agriculture provisions as part of the Doha Round, still currently underway, said Froman.
The Trans-Pacific Partnership (TPP) customs and trade facilitation chapter would ensure U.S. agricultural goods, including perishables, enter Asian-Pacific markets more efficiently and faster, said acting Deputy U.S. Trade Representative Wendy Cutler at a May U.S. Chamber of Commerce event on agriculture trade policy. The chapter has not been made public to date. The intellectual property chapter also seeks to protect agricultural trademarks, while the chapter on sanitary and phytosanitary (SPS) measures aims to guarantee transparency and accountability in SPS risk determinations, added Cutler.
The Bangladeshi government announced during a recent trade forum with U.S. officials plans to eliminate tariffs and other “charges” on fire safety equipment, such as sprinklers, fire doors and electrical equipment, the Office of the U.S. Trade Representative (USTR) said. The planned removal of the import barriers is aimed at enabling factory owners to bring conditions in line with the U.S. - Bangladesh Action Plan. Officials also discussed at the forum bilateral investment rules and intellectual property rights protection (see 14043016).