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Search Results for: World Trade Organisation

10 results out of 11051 results found for 'World Trade Organisation'.

TECHNICAL ROUND UP – BRAZIL TOLD TO SCRAP MANUFACTURING TAX BREAKS

*Brazil has been told to reform tax breaks given to Brazil-based manufacturers of automobiles and information technology products. The World Trade Organisation’s (WTO) appellate body has ruled that they break WTO rules on giving special tax favours to domestic producers over importers.…

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VIETNAM PUSHES FORWARD WITH NEW AML LAW AND ASSOCIATED IMPLEMENTATION GUIDANCE

FINANCIAL institutions and other anti-money laundering reporting sectors within Vietnam have had to grapple, since January 1, with a revised Penal Code, which has changed how money laundering is defined in criminal law.

In its 2018, International Narcotics Control Strategy Report (INCSR), the USA State Department notes that this “revises the money laundering offence and adds criminal liability for legal persons involved in money laundering.”…

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IRAN GIRDS ITSELF AGAINST RENEWED USA SANCTIONS, PLOTS EVASION

With the USA re-imposing sanctions on Iran, and international financial institutions wary of dealing with the country, Tehran is dusting off its pre-2015 sanctions-busting playbook. Old networks are being renewed, including with neighbouring countries and China, but there are more obstacles for the Iranian government to contend with this time around.…

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LICIT ARMS TRADE LIGHTLY REGULATED BY AML RULES, DESPITE CONCERNS OVER UNETHICAL PRACTICES

The conventional arms trade has a reputation for using side payment sweeteners to secure multi-million dollar deals. But despite allegations of corruption in numerous jurisdictions, the legitimate arms trade is not on the Financial Action Task Force’s (FATF) radar. Should it be?…

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DUTCH CARIBBEAN UNDER SPOTLIGHT OVER MONEY LAUNDERING CONTROL WEAKNESSES

THE DUTCH Caribbean continues to have a weak reputation for fighting money laundering, and to a lesser extent terror financing, with the US 2017 International Narcotics Control Strategy Report (INCSR) highlighting weaknesses in its three autonomous jurisdictions. See https://www.state.gov/documents/organization/268024.pdf

Aruba, Curaçao and Sint Maarten are ‘countries’ within the Kingdom of the Netherlands, with their own prime ministers, while less populous islands Bonaire, St Eustatius (Statia) and Saba are municipalities, with fewer powers vested in their island councils, and the Dutch government being responsible for enforcing international anti-money laundering and combating the financing of terrorism (AML/CFT) norms.…

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INTERNATIONAL REGULATORY ROUND UP – CHINA KNITTED FABRIC EXPORTS HIT BY AMERICAN DUTIES

CHINESE exports of knitted fabrics have been hit by major USA duties in the latest round of tit-for-tat tariffs imposed in the countries’ ongoing trade war. China exported USD470 million’s worth of knitted and crocheted fabrics to the USA in 2017, according to international trade data.…

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SRI LANKAN KNITWEAR SECTOR CONFIDENT IT WILL RIDE OUT CURRENT POLITICAL CRISIS

SRI LANKA’S knitwear industry is insisting that despite the country’s current political turmoil over who should lead its government, its business is operating smoothly, noting that it had managed to maintain commerce during the country’s 26 years-long civil war that ended in 2009.…

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BLOCKCHAIN TECH OFFERS KNITWEAR SECTOR CHANCE TO BOOST MUCH NEEDED SUPPLY CHAIN TRANSPARENCY

AS DIGITALISATION takes over supply chains, disruptive technologies such as blockchain and artificial intelligence are revolutionising industries globally – and the knitwear industry is no exception. Indeed, the launch of the world’s first system tracking and tracing knitwear with blockchain technology, launched in May 2017, has stirred the industry’s interest, experts behind the project say.…

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USA BRANDS PONDER SWITCH FROM CHINA - BUT RESOURCING WILL POSE TOUGH CHALLENGES

THE ONGOING trade dispute between the USA and China could accelerate an existing trend of American apparel brands shifting their sourcing away from Chinese suppliers. Indeed, US fashion industry representatives were warned at a conference earlier this week that they need to prepare to establish new trading relationships in case Sino-American trading gets tougher still.…

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MALAYSIAN CLOTHING SECTOR BENEFITING FROM RISING FDI

FOREIGN direct investments (FDI) into Malaysia’s promising garment and textile sector are set to rise further this year on the back of strong performance in 2017, an official from the Malaysian Investment Development Authority (MIDA) has told just-style.

“Within the six months from January to June 2018, the total investments in the sector reached [Malaysian Ringgit] MYR244.8 million (USD58.73 million) of which FDI accounted for MYR112million (USD26.87 million),” a spokesperson from MIDA said.…

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