The outlook for global trade remains weak for 2022, according to a new study published this week by the UN Conference on Trade and Development. The report finds that although trade values are continuing to rise (partly down to inflation-led price rises), trade volumes are almost stagnant. An update on live and forthcoming UK trade negotiations: CPTPP (11-strong nation block in Asia-Pacific) accession – set to be completed by the end of 2022. India – high-level deadline set for 24 October 2022 for completion of negotiations. Canada (upgrading the continuity agreement) – have commenced, due to be completed by end of 2022. Mexico (upgrading the continuity agreement) – have commenced – no deadline for completion. Gulf Co-operation Council (Saudi Arabia, Qatar, Kuwait, UAE, Bahrain, Oman) – first round taking place this month. Israel (upgrading the continuity agreement) – negotiations launched, likely to get underway in coming weeks. Switzerland (upgrading the continuity agreement) – likely to get underway in the autumn. Future negotiations: South Korea (upgrading the continuity agreement). Australia and New Zealand agreements on track for ratification before end of 2022 and entry into force early next year. If you need support trading across the world please get in touch with our International Trade team here. Image credit: Chambers Canva Pro 2022
