Trade Archive

More than five years in the making, the ambitious African trade agreement known as the Tripartite Free Trade Area (TFTA), officially launched in June, aims to bring together three key African trading blocs—the Southern African Development Community (SADC), the East African Community (EAC) and the Common Market for Eastern and Southern Africa (COMESA)—to create a common market spanning the continent from Cairo to Cape Town. With a huge free trade zone encompassing a region of more than 626 million people and a total gross domestic product of $1.2 trillion—equivalent to 58 percent of the continent’s entire GDP—the deal hopes to […]

During his remaining time in office, U.S. President Barack Obama is pushing hard to finalize the Trans-Pacific Partnership (TPP), the major free trade deal between the United States and 11 Pacific Rim countries. The Obama administration is also intent on providing significant new aid to reduce violence, support development and build institutions in Central America. At first blush, the two appear unrelated; the TPP includes no Central American countries. Yet the deal’s final shape may actually play an important part in determining whether the Obama administration will meet its policy and security goals in Central America, since it could unintentionally […]

Over the last two years, the notion that the impasse over Iran’s nuclear program could be solved has gone from being a theoretical possibility to becoming a reality, with the landmark agreement between Tehran and six world powers. The potential lifting of Western economic sanctions on Iran has, in turn, quickly boosted interest in the Iranian economy, especially in Europe, which sees a market re-emerging with significant potential, ready for international investments, technology and goods. But in a somewhat contradictory way, the Iranian economy has both been underestimated during the last five years of sanctions, and now runs the risk […]

Last month, India and Thailand signed a series of agreements, including a tax avoidance deal and extradition treaty. In an email interview, Pongphisoot Busbarat, a postdoctoral fellow at Columbia University’s Weatherhead East Asia Institute, discussed India-Thailand relations. WPR: How extensive are Thailand’s economic ties with India, and what are the main areas of cooperation? Pongphisoot Busbarat: Thailand’s economic ties with India are multilayered, based on bilateral, subregional and regional schemes. These arrangements were made possible by the complementarity of both countries’ foreign policy strategies since the early 1990s: India’s “Look East” policy and Thailand’s “Look West” policy. The Joint Commission […]

On July 20, an honor guard of three Cuban soldiers in full dress uniform raised the island country’s flag over the embassy in Washington for the first time since January 1961. The re-establishment of diplomatic relations concluded “the first stage” of the dialogue between the United States and Cuba, said Foreign Minister Bruno Rodriguez, but a “complex and certainly long process” of negotiations still lay ahead before the two countries would have truly normal relations. “The challenge is huge,” he added, “because there have never been normal relations between the United States of America and Cuba.” Indeed, myriad issues still […]

Last month, Venezuelan President Nicolas Maduro formally requested that the U.N. mediate its long-standing border dispute with Guyana. In an email interview, Mark Kirton, senior lecturer at the University of the West Indies, discussed Guyana’s relations with Venezuela and the impact of the territorial dispute on bilateral ties. WPR: How extensive are Venezuela and Guyana’s political and economic relations, and what are the main areas of cooperation? Mark Kirton: Relations between the two countries are characterized by prolonged periods of controversy and tension, interspersed with short periods of economic and political cooperation. Tensions stem from Venezuela’s claim to the Essequibo […]