A free trade deal between the UK and Australia is on course to include a controversial system of secret courts that will allow businesses to seek compensation if their profits are hit by government policies.

When President Joe Biden travels to Brussels this month, the European Union and the U.S. will commit to trying to end the trade conflicts that have tainted the transatlantic relationship while also pledging to work together to move past the COVID-19 pandemic.

Key recent IP developments and trends in Vietnam

Vietnam is still a popular investment destination for foreign investors, who poured 14 billion USD into the country during the first five months of the year.

Vietnam’s GDP growth rate is projected to reach 6.7% in 2021 and climb to 7.3% in 2022, one of the best performers in the world amidst the COVID-19 pandemic, according to Standard Chartered.

Vietnamese Deputy Minister of Foreign Affairs Nguyen Quoc Dung and his Argentine counterpart Pablo Anselmo Tettamanti discussed a score of measures to enhance bilateral relations while co-chairing the 8th Vietnam-Argentina political consultation via videoconference on May 31.

Australia has said that it is seeking World Trade Organization (WTO) intervention to resolve the dispute with China over anti-dumping and countervailing duties imposed on Canberra by Beijing. As per news agency ANI, Australia Trade Minister Dan Tehan announced on May 28 that the government is taking the next step towards acquiring WTO claim against China for sanctions on barley. Australia-China bilateral relations have been deteriorating over a range of issues including trade disputes.

Vietnam is expected to continue witnessing a bright future for its exports in the second half of this year thanks to many of its key export markets recovering from a decline in consumption, with a rise in demand for imports.

The Federation of Malaysian Manufacturers (FMM) is advocating for the acceleration of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership’s (CPTPP) implementation.

In recent days, the first batches of lychee have been exported to the Chinese and Japanese markets. However, the complicated developments of the Covid-19 pandemic both at home and abroad have been posing certain difficulties in lychee consumption this year.