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Brexit Update: Johnson Wins Second Vote and Corbyn Wants New Referendum

And again everybody is waiting for voting results. First, it was voting of Parliament on May’s deal with the EU. Now we are all waiting for the results of the voting rounds that will ultimately determine who will become May’s successor. Boris Johnson wins the Second Round The second round of voting had the same
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EU Issues Negotiating Mandate for Recast Dual Use Regulation

The European Commission defines dual-use goods as products and technologies normally used for civilian purposes but which may have military applications. If the products were specifically designed for military purposes they are called military goods. Both dual-use and military goods are also referred to as strategic goods. Shipping strategic items are subject to very strict
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Australia Fast Tracks Free Trade Agreement With Post-Brexit United Kingdom

According to Samy Mansour of Clayton UTZ: While Australia and the UK have historically had a favourable trading relationship, their commitment to a post-Brexit FTA demonstrates to Australian and UK businesses and investors that the trading relationship will be a priority for both Governments. This will generate much needed confidence and certainty in the market
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Trade Deal With Mercosur Is Top Priority for EU Trade Chief

Euronews reports on the trade deal that the EU is negotiating with Mercosur. Mercosur is a South American trade bloc with countries like Argentina, Brazil, Paraguay and Uruguay. Venezuela is also a full member of Mercosur but is currently suspended. Associated countries are Bolivia, Chile, Colombia, Ecuador, Guyana, Peru and Surinam. According to Wikipedia: Mercosur’s
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China Will Further Simplify Customs Clearance Procedures

As Reuters reports: BEIJING (Reuters) – China will further simplify customs clearance procedures, state television quoted the cabinet as saying on Wednesday Chinese firms should diversify their overseas markets to help promote foreign trade and economic growth, the State Council was quoted as saying. China would actively boost imports to help balance trade, the cabinet
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Brexit Update: Parliament Votes Against Blocking No-Deal and Boris Johnson in the Lead to Succeed

Yesterday and today there were two important Brexit-related votes in the UK Parliament. Let’s start with the vote about the plan Labour launched to block a No-Deal-Brexit. Blocking No-Deal? No-Deal! A proposal launched by Labour to try and give Parliament a bigger say in the Brexit decision process was voted down yesterday. Only barely so.
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Ex-U.K. Trade Minister: U.S.-UK Trade Deal Can’t Make Up for Brexit

…speaking at the Fortune Most Powerful Women International Summit in London on Tuesday morning, Baroness Rona Fairhead CBE, the U.K.’s former minister of state for Trade and Export Promotion, did not appear convinced by Trump’s pronouncements. “[The EU countries] still remain our closest partners in terms of location—and they still represent about 50% of our
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The African Continental Free Trade Area (AfCFTA) Came Into Effect

In a nutshell, it means a single market of goods and services for 1.2 billion people with an aggregate GDP of over $2 trillion. UNCTAD, the UN’s trade body, predicts reducing intra-African tariffs under AfCFTA “could bring $3.6 billion in welfare gains to the continent through a boost in production and cheaper goods.” One of
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Airbus Issues Warning over Escalation of US-EU Dispute

The U.S. and the EU have threatened billions of dollars-worth of tariffs be imposed on goods including aircraft, in the latest step of a long-running transatlantic dispute at the World Trade Organization. Airbus Chief Commercial Officer, Christian Scherer, told CNBC that the proposed tariffs “defy economic logic,” saying they will end up hurting the consumer.
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Brexit Update: Theresa May Officially Steps Down

It was May 27th when Theresa May announced she would resign as Prime Minister per June 7. She has now officially resigned as leader of the Conservative Party and thus as Prime Minister as well. What Will Happen Now? May will remain Prime Minister until her party has chosen a new Prime Minister. This is
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What Exporters Need to Know About Dual Use Goods

As an exporter or a service provider to an exporter, you are asked to provide a written declaration that states whether your shipment contains dual-use or military goods. What are Dual-Use Goods? The European Commission defines dual-use goods as products and technologies normally used for civilian purposes but which may have military applications. If the
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Customs Operations and the Blockchain

The Saudi Customs Authority has piloted the processing of a shipment with the use of blockchain technology. The shipment went from Damman in Saudi Arabia to the Port of Rotterdam in the Netherlands. There it was put on a truck and transported to its final destination in Belgium. What is Blockchain Technology? Blockchain is essentially
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