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Multilateral agreement to cut red tape in international trade would dramatically reduce trading costs and add a substantial boost to the global economy, according to new OECD research.
Inefficient, outdated and complex trade procedures and formalities prevent businesses from taking full advantage of open global markets.
Compared to the third quarter, the value of merchandise exports and imports for the G7 and BRICS countries increased by 1.2% and 1.0%, respectively.
Romania has joined the Global Forum on Transparency and Exchange of Information for Tax Purposes. As the 118th member of the Global Forum, it will participate in the peer review process which encourages all countries to adopt effective exchange of information in tax matters.
Business competitiveness and export performance are increasingly tied to countries’ integration into global production chains and a willingness to open markets to wider imports, according to preliminary international trade data released today by the OECD and the WTO.
Merchandise trade continued to slow in most major economies in the third quarter of 2012 compared to the second quarter of 2012.
Merchandise trade slowed in most major economies in the second quarter of 2012, with contractions in all major European economies, India, Russia and South Africa.
OECD countries have agreed new rules to strengthen current environmental and social due diligence processes when providing export credits and to create financially prudent incentives to support business projects with low CO2 emissions. The second agreement also aims to encourage support for advanced climate-friendly technologies such as carbon capture and storage.
G20 governments should devise and implement a new series of peer reviews within the G20 process to ensure that policies improve agricultural productivity and food security, according to a new report by 12 international organisations.
Rio+20 faces challenges that the Rio Earth Summit could not have foreseen: a growing gap between the rich and the poor, a global economic crisis, and some 2 billion more people by 2050 relying on the planets natural resources and the environment.