Canada Expands FTA with Chile – The Canada-Chile Free Trade Agreement (FTA) has been in effect since July 5, 1997. Since the treaty has proven a success for both countries, the FTA will be expanded to provide access to markets for cross-border financial services providers and regulate financial institutions established in each jurisdiction. The Canadian government had tabled the agreement in parliament for House review.
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Greece Considers Cargo Tax on Shipping – Greece’s current law states that ships flying a Greek flag are taxed according to capacity while ships flying foreign flags are not. Due to Greece’s economic crisis, the country is considering the implementation of a cargo tax on merchant marine ship owners. A cargo tax could bring in $258.5 million from 2013-2016.
Read more from Greek Reporter
Savannah River Dredging Approved – The U.S. Army Corps have signed a Record of Decision approving the launch of the Savannah Harbor Expansion Project (SHEP). The signature signifies the completion of the federal government’s review of the project and affirms its economic viability and environmental sustainability.
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U.S. and Taiwan Discuss TIFA Issues – The United States’ bilateral Trade and Investment Framework Agreement (TIFA) with Taiwan is under review. Due to Taiwan’s ban on U.S. beef, talks have been suspended since 2007; however, Taiwanese lawmakers agreed to allow imported beef with restrictions on the amount of growth additives commonly used by U.S. producers. In effect, the two countries have met to discuss important trade issues with an emphasis on electronic commerce and standards.
Read more from Sandler, Travis and Rosenberg Trade Report