European Union

Five options if UK rejects May deal, Balancing the roles of the ECB

UK PM Theresa May

Commentary: Five options if UK rejects May deal

By Charles Grant in London

UK Prime Minister Theresa May has clinched her deal with the European Union and persuaded most of her cabinet to support it. But after EU leaders sign off the deal at a summit on 25 November, May has promised the House of Commons a ‘meaningful vote’; it is hard to see how she can win it. However, even if May falls, the arrival of a new Conservative party leader would not change the parliamentary arithmetic...

http://www.allaboutshipping.co.uk/2018/11/19/five-options-if-uk-rejects-may-deal-balancing-the-roles-of-the-ecb/

Fisheries ministers disregard their legal obligation to end overfishing by 2020 in the deep sea

Brussels, 19th November 2018 – Seas At Risk is deeply disappointed by the decisions on fishing limits for deep sea fish stocks for 2019-2020 taken by the Fisheries’ Council of Ministers tonight. This was the very last opportunity fisheries ministers had to end overfishing of deep sea species by 2015 or at the latest by 2020, as legally required under the Common Fisheries Policy. However, the ministers failed to achieve this.

Andrea Ripol, Policy Officer of Seas At Risk said: “The ministers...

http://www.allaboutshipping.co.uk/2018/11/19/fisheries-ministers-disregard-their-legal-obligation-to-end-overfishing-by-2020-in-the-deep-sea/

EU is doing Asia-deals as trade war deepens

As President Donald Trump throws global relationships into turmoil in pushing his “America First” agenda, Southeast Asia’s biggest economy has seen an opening to increase its European trade ties.

The EU has recently pulled off trade agreements with Vietnam, Japan, Singapore, Canada, across Africa and even Cuba and is actively negotiating deals with Mexico, Australia, New Zealand, China and the Philippines. A deal with Indonesia would boost two-way trade by $4 billion a year — there was $30...

http://container-news.com/eu-asia-deals-trade-war-deepens/

Comment: The withdrawal agreement and the impact on the insurance industry

Bob Haken

Norton Rose Fulbright insurance partner Bob Haken commented:

“What the Political Declaration does say about financial services in general is that there will be commitments to “preserving financial stability, market integrity, investor protection and fair competition, while respecting the [UK’s and the EU’s] regulatory and decision-making autonomy, and their ability to take equivalence decisions in their own interest”. This focus on equivalence is unfortunate for the insurance industry...

http://www.allaboutshipping.co.uk/2018/11/15/comment-the-withdrawal-agreement-and-the-impact-on-the-insurance-industry/

ECSA welcomes BREXIT Deal

Martin Dorsman

European shipowners welcome the agreement reached on BREXIT yesterday. “ Our primary concern on the short term, the frictionless trade, seems to be taken care off. A no deal scenario was just not an option and a clear lose-lose situation for shipowners and clients at both sides,” commented Martin Dorsman, Secretary-General of ECSA.

ECSA hope political leaders in the UK and EU now take the necessary steps to translate the political agreement into reality. “We very much welcome the...

http://www.allaboutshipping.co.uk/2018/11/15/ecsa-welcomes-brexit-deal/

EU’s free trade negotiations progress

The European Commission published two reports summarizing the progress made during the latest negotiating rounds for the EU-Indonesia and EU-New Zealand trade agreements.

The sixth round of negotiations for an EU-Indonesia free trade agreement took place from 15 to 19 October in Palembang, Indonesia. Negotiators made good progress across the board, particularly on the chapters on customs and trade facilitation, rules related to trade in food, animal and plant products, technical barriers to...

http://container-news.com/eu-free-trade-negotiations-progress/

Incorporating climate risk in QE, Progress on Brexit

Commentary: Incorporating climate risk in QE

By Danae Kyriakopoulou in Geneva

Ensuring climate-related risk does not translate to financial instability is a key concern for central banks, but not an exclusive one. Central banks are tasked with safeguarding prosperity, which in turn requires that prosperity be generated sustainably. Monetary authorities should lead by example by supporting the transition to lower-carbon economies in their roles as investors. One controversial approach would be for...

http://www.allaboutshipping.co.uk/2018/11/02/incorporating-climate-risk-in-qe-progress-on-brexit/

“The UK needs a deal, not chartered-in ships”

Responding to reports that Government may charter ships in the event of a No-Deal Brexit, UK Chamber of Shipping CEO Bob Sanguinetti said:

“It is not clear how Government chartering ships would really help.  I don’t see how Government itself can move goods faster or more efficiently than the private sector, particularly as those goods will still need to go through the same customs procedures in ports – which is where the real problem would be.

“We must not sensationalise. We are a flexible...

http://container-news.com/uk-deal-chartering-ships/

EU-Vietnam trade agreement

The college of commissioners adopted the EU-Vietnam trade and investment agreement on Wednesday (17 October). Now the deal has to be ratified by the Council and the European Parliament.

The successful conclusion of the negotiations followed member states’ green light to sign trade and investment pacts with Singapore on Thursday.

“By adopting them a few hours before welcoming the participants in the ASEM-EU Summit in Brussels, the Commission shows its commitment to open trade and engagement with...

http://container-news.com/eu-vitnam-trade-agreement/

ENMC: Brexit Should Not Disrupt European Ports And Supply Chains

Brexit

The European Network of Maritime Clusters released the following statement on the departure of the United Kingdom from the European Union, at their annual meeting held in Malta. “The European maritime community supports Maritime UK’s ambition for a mutually beneficial deal between the UK and EU.

Image Credit: enmc.eu

“At this critical stage in the negotiations, we need calm heads and a sharp focus on delivering the sensible, mutually-beneficial deal both sides of the channel rely upon. We need to...

https://www.marineinsight.com/shipping-news/enmc-brexit-should-not-disrupt-european-ports-and-supply-chains/

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