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Peter Ungphakorn Profile picture
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May 27 • 10 tweets • 5 min read
“Agreement with Indiana marks milestone in UK’s trade with the US”—the UK government proclaims

Read on

It's a memorandum of understanding on what the UK and Indiana want to develop in their trade and economic relations. That stretches the meaning of “agreement” quite a lot

1/9
Good question⬇️. Short answer: no

So, all we know is what the UK government press release says.

2/9
This is what it says:

“The MoU creates a framework to remove barriers to trade and investment, paving the way for UK and Indianan businesses to invest, export, expand and create jobs.”

Remember: all major trade barriers are handled in Washington

3/9 gov.uk/government/new…
So the scope for removing trade barriers with Indiana are limited to things like recognising professional qualifications.

And yes that is in the MoU.

Confession: I’ve no idea how much of a barrier to professional services trade it is.

4/9 gov.uk/government/new…
So what, in detail, does the press release actually say?

“The agreement will look to improve procurement processes and strengthen academic and research ties, enabling academics and businesses to collaborate more easily.”

Future tense. Will look to…

5/9 gov.uk/government/new…
“It aims to support our talented professionals with provisions on diversity aligning with our levelling up agenda to ensure economic growth benefits all communities across the country.”

Ah. “Levelling up.” Does Indiana promise to invest in Stoke?

6/9 gov.uk/government/new…
“It aims to help talented people from the UK and US to cross the pond for work by paving the way for their professional qualifications to be recognised on both sides”

Yep, recognise professional qualifications (future)

#PavingTheWay to #CrossThePond

7/9 gov.uk/government/new…
“Green trade will be at the heart of talks as both sides look to accelerate clean tech development, with a particular focus on electric cars and low emissions technology solutions.”

Note: future tense again. So the talks haven’t begun yet.

8/9 gov.uk/government/new…
And that’s it

“Minister Mordaunt continues to engage with other US states. The UK hopes to sign more MoUs this year.”

#MoUs

Is it useful? In a very modest way, but it also depends on the outcome

Is it a milestone? Maybe an inchpebble

#Perspective

9/9 gov.uk/government/new…
The memorandum of understanding is now published

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More from @CoppetainPU

Peter Ungphakorn Profile picture
May 22
It’s been clear for some time that WTO members are unlikely to agree on anything substantial on agriculture—despite declaring it a priority—when their ministers meet in Geneva Jun 12–15

Information from trade sources on a meeting last Thu May 19 reinforce that assessment🧵

1/11
The focus has changed in recent months—the Ukraine war has increased concerns about food security.

But the best binding decision that can be expected is to exempt the World Food Programme’s humanitarian purchases from export restrictions—still opposed by India & Tanzania.

2/11
Expect some non-binding/“best-endeavour” statement on food security, eg, the UK-led proposal⬇️, which draws on familiar themes of keeping supplies flowing, increasing transparency, minimising market disruption.

Even transparency is a problem…

3/11 docs.wto.org/dol2fe/Pages/S…
Read 11 tweets
Peter Ungphakorn Profile picture
May 20
Another day, another WTO topic where members find themselves under pressure to reach agreement within days.

Today: fisheries subsidies, at the end of a “Fish Week” of talks in various formats on curbing harmful subsidies that encourage overfishing.

1/8 tradebetablog.wordpress.com/wto-fish-talks…
Chair @WillsSantiago briefed the media after a stock-taking meeting of the membership.

Sandwiched between plenaries Mon and Fri, were sessions in various formats. Wills said 30-40 delegations were involved in each of those sessions, total about 50.

2/8 tradebetablog.wordpress.com/wto-fish-talks…
@WillsSantiago said the talks were constructive with good signals that need to be turned into agreement.

He announced a “Fish Decision” week from May 30, giving members a fortnight to resolve their differences.

3/8 tradebetablog.wordpress.com/wto-fish-talks…
Read 8 tweets
Peter Ungphakorn Profile picture
May 19
WTO members on all sides were urged today to sort out their reservations over the proposed compromise, so that a deal on waiving some intellectual property protection for COVID-19 can be struck by the Jun 12-15 Ministerial Conference, trade sources say.

1/14 #TRIPSwaiver
In an informal meeting of the WTO intellectual property (TRIPS) council, Director-General @NOIweala said WTO members have no option but to produce a result for the #MC12 Ministerial Conference, even if that means negotiating round the clock, the sources said.

2/14
Today's meeting was held to take stock of the first two days of real negotiations on the compromise text⬇️, on Mon&Wed, May 16&18. During those sessions, @NOIweala urged delegates to be prepared to compromise: "the perfect is the enemy of the good"

3/14 tradebetablog.wordpress.com/text-g4-trips-…
Read 15 tweets
Peter Ungphakorn Profile picture
May 10
Today’s WTO General Council meeting largely reflected exchanges in the May 6 intellectual property (TRIPS) council, with a couple of points firmed up.

One, said WTO spokesman Keith Rockwell, is that most WTO members accepted the compromise as a text that can be negotiated.

1/6
TRIPS Council chair Amb. Lansana Gberie (Sierra Leone) said: "It is the only product that we have. It’s the only game in town.” No one disagreed according to Rockwell.

So for the first time members will negotiate a text, and it will be this one.

2/6 tradebetablog.wordpress.com/text-g4-trips-…
WTO members still have a range of reservations about the text—on adding diagnostics and therapeutics, concerns that existing flexibilities in WTO rules should not be compromised, and more🧵⬇️

Most said their capitals were still considering the text.

3/6
Read 7 tweets
Peter Ungphakorn Profile picture
May 6
WTO members were largely non-committal today in their first reaction to the proposed compromise text on intellectual property and the COVID-19 pandemic.

Most said they needed more time to study it, although some indicated some concerns

The text: tradebetablog.wordpress.com/text-g4-trips-…

1/12
None of the “Quad”—EU, India, South Africa, US—wholeheartedly endorsed it even though the text emerged from consultations among them, with the help of WTO director-general @NOIweala and her deputy @_AnabelG

Their common line was they hoped it could lead to agreement.

2/12
India & SAfrica authored the original proposal⬇️. WTO members were deadlocked over it.

Today, SAfrica said the compromise could finally allow members to negotiate a text, and focus on finding a solution for the Jun 12-15 Ministerial Conference.

3/12 tradebetablog.wordpress.com/2021/05/25/wto…
Read 13 tweets
Peter Ungphakorn Profile picture
May 6
(I missed this last week. H/T @BobWolfeSPS)

TRANSPARENCY PROPOSAL for WTO General Council or Ministerial Conference.

The 9th revision of the proposal makes one major change, which improves its chances of being accepted.

Gone are proposed penalties.

1/5 docs.wto.org/dol2fe/Pages/S…
This is about transparency in what governments do under the WTO trade agreements.

It’s a major role of the WTO, achieved by members notifying each other (and the world at large) through the WTO. That allows understanding, scrutiny and feedback.

2/5 docs.wto.org/dol2fe/Pages/S…
Proponents feel the information notified is not good enough—inadequate or taking too long to be notified.

The proposal would apply to agreements on trade in goods, aiming to strengthen requirements and help countries meet their obligations.

3/5 docs.wto.org/dol2fe/Pages/S…
Read 5 tweets

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