Eric Shimp, policy advisor in the firm’s International Trade & Regulatory Group, was quoted in Law360 in an article titled “International Trade Developments to Watch in 2014.”
According to the article, ongoing trade talks between the United States, Europe and Pacific Rim countries, possible sanctions relief for Iran and a new wave of export control changes are going to be the “big items” on the international trade agenda this year.
Shimp discussed the World Trade Organization’s (WTO) ninth ministerial conference in Bali, Indonesia, where WTO countries ultimately agreed to a package of trade concessions for which the organization’s director-general had been trying to drum up support.
According to the article, even with the agreement in Bali, the future of truly multilateral WTO negotiations is unclear, especially in light of regional trade talks, like those for the TTP and TTIP.
“When you have major regional agreements on the scale of TPP and TTIP ... it limits the need for a big WTO package, with the exception of the least developed countries,” Shimp said.