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The value of global trade went into freefall from mid-2008 but the speed of decline began to temper in February this year, according to the Organisation for Economic Cooperation and Development (OECD). “Compared with the previous quarter, the value of exports and imports of goods and services in OECD countries, measured in seasonally adjusted current [...]
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International agencies, fearful that money to assist less-developed countries will be eroded by the global economic crisis, have urged the developed world to increase assistance through the ‘aid for trade’ process. ‘Aid for trade’ includes foreign investment into infrastructure so that developing countries can participate in global trade liberalisation. However, many projects have stalled due [...]
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The New Zealand economy is suffering its longest and deepest recession in almost two decades, and it is unlikely that its June quarter figures will bring good news. The gross domestic product of our trans-Tasman neighbours contracted one percent in the March quarter and figures for the June quarter are expected to look similar. The [...]
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Annual bilateral talks between the trade ministers for Australia and Japan will begin later this year in an effort to maintain the deep engagement both countries have with each other, announced Minister for Trade Simon Crean. The inaugural meeting, with Japan’s Minister for Economy, Trade and Industry Toshihiro Nikai, will be held later this year. [...]
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After favourable reports on the Australian economy by the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD) and World Bank, Australian Treasurer Wayne Swan has confirmed the government’s strategy is working but warned against becoming too complacent. “It was encouraging to see that government efforts to stimulate the economy are working [...]
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Minister for Trade Simon Crean and Assistant Treasurer Nick Sherry have announced they will sign a protocol with Belgium to allow a full exchange of information of tax information between the two countries. “Australia acknowledges the significant step Belgium has taken in moving to adopt exchange of information provisions in its treaties that meet the [...]
...read moreThe Australian economy has the capacity to recover relatively quickly from the current global economic downturn, according to the Organisation for Economic Co-operation and Development (OECD). However, the organisation did note that the Australian Government could loosen their monetary policy further to lessen the impact of global pressures. “The international crisis has not spared Australia, [...]
...read moreA decade of progress in Africa has been lost in the current global recession, says Antoinette Batumubwira, communications chief for the African Development Bank (ADB). “Gains made by the continent over the last ten years are, today, being undermined by factors beyond Africa’s control,” she said. “The crisis is reducing trade, the mainstay of Africa’s [...]
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