EU offers technical assistance to Pakistan to implement FATF action plan - Pragnya IAS Academy - News Analysis.

EU offers technical assistance to Pakistan to implement FATF action plan.

The European Union has offered technical assistance to Pakistan for the implementation of the Financial Action Task Force (FATF) action plan by the country, according to a media report.

A joint press release issued at the conclusion of the 10th session of the European Union-Pakistan Joint Commission in Brussels on Friday said that the two sides emphasised the importance of the implementation of FATF action plan by Pakistan, the Dawn reported.
Global terror financing watchdog FATF last month retained Pakistan on its 'Grey List' till February next year for its failure to take adequate action against money laundering and terror financing.
Pakistan was placed on the Grey List by the Paris-based FATF in June last year and was given a plan of action to complete it by October 2019, or face the risk of being placed on the Black List with Iran and North Korea.
The Pakistan side at the meeting appreciated the EU's offer of technical assistance.
Implementation of 'GSP-Plus', issues hampering trade and investment, and improving the business climate remained focus of the discussion during the meeting.
The plenary of the joint commission was preceded by meetings of sub-groups on trade, development cooperation, democracy, governance, rule of law and human rights on November 13-14, the daily said.
The next session of the joint commission will be held in Islamabad in 2020. The two sides undertook to hold the next political dialogue in Islamabad that would contribute towards the EU-Pakistan strategic dialogue at high representative and foreign minister level at mutually agreed dates in Brussels. (Source: defencenew.in)


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EU offers technical assistance to Pakistan to implement FATF action plan.

Iran tells EU to speed up efforts to save nuclear deal - Pragnya IAS Academy - News Analysis.

Iran tells EU to speed up efforts to save nuclear deal.

Iran said on Monday that Europe should accelerate its efforts to salvage a 2015 nuclear deal between Tehran and major powers that U.S. President Donald Trump abandoned in May.

“Europeans and other signatories of the deal [China and Russia] have been trying to save the deal ... but the process has been slow. It should be accelerated,” Foreign Ministry spokesman Bahram Qasemi told a news conference broadcast on state TV. “Iran relies mainly on its own capabilities to overcome America's new sanctions.”

European states have been scrambling to ensure Iran gets enough economic benefits to persuade it to stay in the deal since the United States withdrew from the deal, which Mr. Trump said was “deeply flawed”.
Washington imposed new sanctions on Iran in August, targeting its trade in gold and other precious metals, purchases of U.S. dollars and its car industry.
The European Union has taken steps to counter the renewed U.S. sanctions, including forbidding EU citizens from complying with them or related court rulings, and allowing firms to take legal action to recover potential damages from parties who withdraw from contracts due to the sanctions.
European powers, China and Russia say they will do more to encourage their businesses to remain engaged with Iran. But the prospect of U.S. penalties appears to be enough to persuade European companies to keep out of Iran. (Source: The Hindu)


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Iran tells EU to speed up efforts to save nuclear deal.

EU & Japan sign biggest free trade deal - Pragnya IAS Academy - News Analysis.

EU & Japan sign biggest free trade deal.

The European Union and Japan have signed one of the world's biggest free trade deals, covering nearly a third of the world's GDP. The agreement was signed in Tokyo yesterday. EU Council President Jean-Claude Juncker said, they are sending a clear message that both sides stand together against protectionism.
Mr Abe said, the agreement shows the world the unshaken political will of Japan and the EU to lead the world as the champions of free trade at a time when protectionism has spread.
The move contrasts sharply with actions by the US Trump administration, which has introduced steep import tariffs. Under the agreement, Japan will scrap almost all its tariffs on EU goods, particularly dairy items like cheese. The EU will also eliminate about 99 percent of its tariffs on Japanese goods, including removing levies on Japanese cars and scrapping tariffs on car parts.
The agreement must still be ratified by the EU parliament, as well as Japanese lawmakers, but is expected to enter into force from next year. (Source: NewsonAir)


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EU & Japan sign biggest free trade deal.