Launch Of Free Trade Agreement

Negotiations on the Free Trade Agreement (FTA) between Australia and Great Britain began on 17 June 2020 in a joint statement by Hon Simon Birmingham, Minister for Trade, Tourism and Investment, and his British counterpart, Rt Hon Liz Truss. A free trade agreement between Australia and the UK will build on existing strengths in mutual trade and investment and contribute to the post-COVID economic recovery in both countries. The free trade agreement will make it easier for businesses to export, increase trade and create new opportunities for Australian businesses. The United States and Kenya intend to intensify and cooperate to strengthen trade cooperation under the bilateral Declaration of Trade Intent signed in June 2018 to identify and prioritize trade and investment opportunities in strategic sectors such as energy, health, digital economy, infrastructure, manufacturing, and agriculture. “Our legal system is closely linked to that of the United Kingdom and we share the commitment to the rule of law and an open and rules-based international trading system,” Wright said. Digital trade between Britain and Singapore is now more important than ever, as businesses are increasingly online in the economy after the pandemic. The agreement will also strengthen trust and collaboration between and between regulators in both countries. As these negotiations aim to create the first bilateral trade agreement with a sub-Saharan African country, negotiators face a number of challenges, including: an ambitious and far-reaching agreement will renew and strengthen our friendship, help increase the prosperity of our peoples and send a clear signal to the rest of the world about the will of like-minded democracies, commit to free trade and the rules that underpin international trade. Genetically modified organisms (GMOs). == The food industry is an innovator in GMOs and related technologies that improve yields and reduce the demand for chemical fertilizers and pesticides. Kenya is strongly opposed to the import of genetically modified food.

This is because this food cannot enter or cross Kenyan ports for other destinations. Like the WTO agreement on sanitary and phytosanitary (SPS) standards, the US trade agreements require SPS rules to be based on science and evidence, leading to a conflict with Kenya`s attitude towards GMOs. These divergences could have an impact on small and medium-sized enterprises, particularly in the agricultural sector, which depend on inexpensive raw materials and other inputs. Based on discussions with industry representatives in the United States and Kenya, we believe that both sides will be able to find a satisfactory solution to this problem. The calendar. Negotiating trade agreements can take several years. In just over three and a half months, the United States will hold his presidential election. As we saw during the transition from the Obama administration to the Trump administration, trade negotiations can be sunk. If Biden wins in November, will his government continue negotiations with Kenya? The strong inter-party support, which has existed in Congress over four governments for programs in Africa, indicates that there will be continuity in this initiative. Another challenge is that the Trade Promotion Authority (TPA) – the law that sets parameters for government-Congress consultations and guarantees a vote on the final deal – expires in July 2021.

Without TPA, the possible transposition law could be amended by Congress, which could unravel it. Another possible complication is that President Kenyatta`s second term will end in 2022. He sees the free trade agreement as a legacy. Will it be finished by then? And then there`s the reality of COVID-19. .. .

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