Latest Trade News and Agreements: June 2022

This agreement, which has a total of 24 chapters, was signed as a result of the interest of both countries in modernizing and deepening the existing bilateral relationship. It includes additional standards in trade facilitation, regulatory aspects, services, e-commerce, among others, and incorporated new subjects with an inclusive approach such as gender, micro, small and medium-sized enterprises, environment, labor issues and regional and global value chains and productive linkages. Both countries also made progress in trade liberalization.
 
The chapters include the creation of bilateral commissions that will be responsible for the implementation and follow-up of what is included in this new Trade Agreement, which will fully replace the Chile-Ecuador Economic Complementarity Agreement ACE 65.
 
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This report prepared by the U.S. Department of Agriculture lists the major registration requirements and export certificates required for food and agricultural exports to the People’s Republic of China.
 
List of Export Certificates required by China regarding nuts and dried fruits products:

 
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Ecuadorian authorities have presented to the EU a list of Geographical Indications, protected as Geographical Indications in Ecuador, for protection under the EU-Andean (Colombia, Peru, and Ecuador) Trade Agreement. Products of concern include:
 

 
The Commission invites any Member State or third country or any natural or legal person having a legitimate interest, resident or established in a Member State or in a third country, to submit oppositions to such protection by lodging a duly substantiated statement.
 
Deadline for statements of opposition is July 7, 2022.
 
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In April 2022, the European Union released a publication on EU- Agri-food trade developments in January 2022. According to the report, January 2022 was categorized by a continuing trend of lower exports and higher imports initiated in the autumn of 2021. This resulted in a significant decrease of the EU trade balance ( -50% compared to September 2021 trade balance), which is slightly above the normal seasonal variation.
 
EU agri-food trade (exports plus imports) reached a value of €28.3 billion; +25% compared to last year in January, but also +16% compared to the 3-year average. EU exports reached €15.8 billion, +16% compared to last year. EU imports stood up at €12.5 billion, +38% compared to January 2021. These trade flows are rather high when compared to pre-COVID levels: +11% for exports and +22% for exports compared to the 3-year average.
 
Agri-food trade balance (million euros):

 
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The EU has launched a new initiative for imported organic food: Correction of certain elements of the list of recognized control bodies for import of organic products.
 
EU imports organic products only from a list of authorized control authorities/control bodies and third countries. The purpose of this legal amendment is to carry out certain corrections on this list.
 
The draft is not yet available. The adoption by the Commission is planned for the third quarter 2022.
 
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 Ukraine and the United Kingdom have signed an agreement on the abolition of import duties and tariff quotas. The deal will be in effect for 12 months, but may be extended by an agreement between the parties for a new term. According to the Government portal of Ukraine, in 2021, the trade turnover between Ukraine and the United Kingdom increased by almost 57% and amounted to $ 2.2 billion. Moreover, exports intensified (+ 62%), reaching more than $ 1 billion.
 
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The U.S. Department of Agriculture (USDA) has updated their South African Agricultural Economic Fact Sheet to include calendar year 2021. According to the report, bilateral agricultural trade reached record levels of US$860 million last year. Major agricultural products traded between the two countries include tree nuts.
 
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