EU Agreements with Canada, Japan, and Vietnam: Small but Positive Economic Impacts Expected

The European Union’s recent agreements with Canada, Japan, and Vietnam are expected to have a small but positive impact on the EU’s GDP and welfare, according to a new study. The agreements will lead to a small boost in trade and larger gains in specific sectors, but only if non-tariff barriers (NTBs) in both goods and services trade are substantially reduced.

Key Findings

• The sectoral impact of the Free Trade Agreements (FTAs) on EU producers is expected to be tiny, with neither large gains nor losses anticipated.
• However, the environmental implications of the agreements under negotiation could be very important, especially in the spheres of land use and deforestation.
• A small but positive impact on the EU’s GDP and welfare is expected if NTBs are reduced.

Combating Money Laundering in Albania

A report has highlighted the efforts of Albania’s institutions in combating money laundering and terrorist financing (ML/TF). The country’s Financial Intelligence Unit, known as the General Directorate for the Prevention of Money Laundering (GDPML), plays a key role in monitoring and supervising illegal activities.

Key Institutions Involved

• General Directorate for the Prevention of Money Laundering (GDPML)
• Coordination Committee for the Fight against Money Laundering (CCFML)
• Albanian State Police
• General Prosecutor’s Office
• General Directorate of Customs
• General Directorate of Taxation
• Agency for the Administration of Seized and Confiscated Assets
• High Inspectorate of Declaration and Audit of Assets and Conflict of Interest

Recommendations

• A homogenous European anti-money laundering and anti-tax evasion policy is recommended, which would require a differentiated EU approach for different groups of Member States.
• Regulation of European offshore centers is also seen as a promising step in combating ML/TF.

Quotations

“We expect the agreements to have a positive impact on the EU’s economy, but it will depend on the removal of non-tariff barriers,” said [Name], an economist at the European Union. “If NTBs are not reduced, the benefits of the agreements will be limited.”

“We are committed to combating money laundering and terrorist financing,” said [Name], Director of the GDPML. “We work closely with other institutions to prevent and detect illegal activities.”