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Valletta: European Union finance ministers admitted on Saturday that the worlds 20 biggest economies (G20) will miss their target of generating additional economic growth through reforms by 2018 and called for reflection on why they have failed.

G20 economies agreed in 2014 to boost growth in their economies by at least an additional 2% over 5 years through reforms, adding more than $2 trillion to the global economy and creating millions of jobs.

It seems likely that we will not reach our 2-in-5 growth ambition by 2018, said a terms of reference document approved by EU finance ministers for the next G20 financial leaders meeting on 20-21 April in Washington. We should reflect on the appropriate communication around our 2-in-5 objective and build a shared assessment and understanding of why we have not fully delivered, said the document, obtained by Reuters.

It is thus vital to accelerate the implementation of structural reforms and of investment in productive infrastructure, it said.

EU delegations to G20 meeting in Washington will also reiterate that the G20 should avoid all forms of protectionism, support the Paris agreement on climate change, the work on green finance, and the multilateral approach to taxation and to financial regulation, the document showed.

The declaration, while standard in previous G20 meetings and communiques, has become problematic since Donald Trump became the president of the United States last year.

At a meeting in March in the German town of Baden Baden, G20 finance ministers dropped a pledge to keep global trade free and open, yielding to an increasingly protectionist United States. Breaking a decade-long tradition of endorsing open trade, the G20 made only a token reference to trade in their communique in a clear defeat for host nation Germany, which fought the new US governments attempts to water down past commitments.

G20 finance chiefs also removed from their statement a pledge to finance the fight against climate change, an anticipated outcome after Trump called global warming a hoax. Reuters

First Published: Sat, Apr 08 2017. 07 20 PM IST

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European Union admits G20 economies will miss extra growth target - Livemint

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Ukraine to Get Visa-Free Travel to European Union From June Wall Street Journal (subscription) BRUSSELSUkrainian citizens are set to visit the European Union without a visa from June, following a vote on Thursday that represents a major victory for Ukrainian President Petro Poroshenko. The European Parliament voted to allow Ukrainians with ... Ukraine's passport website crashes after EU votes for visa-free travelExpress.co.uk Three million Ukrainians can soon visit EU visa-freeEUobserver European Parliament approves visa-free travel for UkrainiansDeutsche Welle all 69 news articles »

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Ukraine to Get Visa-Free Travel to European Union From June - Wall Street Journal (subscription)

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On June 23, 2016, the residents of the United Kingdom (UK) shocked the world by voting for the countrys exit from the European Union (EU), or Brexit. On March 29, almost nine months after the historic referendum, the countrys Prime Minister, Theresa May, began the official separation process with a letter to EU President Donald Tusk. It urged the remaining member states to allow the UK to leave in a fair and orderly manner, and with as little disruption as possible on each side.

The six-page document that outlines some of the countrys hopes and requirements during and after the separation, invoked Article 50 of the EU Agreement, which states: Any Member State may decide to withdraw from the Union in accordance with its own constitutional requirements. Officials from both sides will spend the next two years hashing out the details of this unprecedented break from the EU. The issues will range from imposing trade tariffs to migration policies, as well as deciding on new regulations to govern automobiles, agriculture, etc.

Both sides have a lot at stake as they begin the arduous process of unraveling the four-decade-long relationship. The UK, currently the worlds fifth-largest economy, has to tread carefully not to lose ground with its biggest trading partner. The EU, on the other hand, has to ensure that Britain does not get a better deal than it currently has. Thats because if the new treaty is even perceived as more favorable, other European nations will start to consider leaving the Union as well. Tusk has made it clear that the EU Councils priority, as it goes through the discussions, is to uphold the interests of the Unions remaining 440 million citizens.

The UKs negotiating power could also be weakened because a majority of Scotland and Northern Ireland, two of the four nations that make up the country, did not vote for Brexit. The residents are, therefore, unhappy with the current situation. On March 28, the Scottish Parliament authorized the Scottish Government to hold a referendum on the nations independence from the UK. The vote is scheduled to take place sometime between late 2018 and early 2019 after the Scottish people have some clarity on the consequences of the separation from the EU. Meanwhile, Irish nationalists are using Brexit as an excuse to rekindle their decades-long fight to make Ireland an independent nation.

There is going to be much uncertainty as the UK officials and members of the EU Council navigate through this uncharted territory over the next two years. However, both sides have promised to make the process as painless as possible for the residents. Hopefully, they will keep their word.

Resources: CNN.com, Guardian.co.uk, Wikipedia.org, The Verge.com

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United Kingdom Begins Formal Process To Exit The European Union - DOGOnews

Trade and Industry Secretary Ramon M. Lopez said that the United Kingdom (UK) has expressed interest to pursue a regional trade agreement with the Association of Southeast Asian Nations (Asean), weeks after the European Union (EU) expressed intent to do the same.

Lopez told the Inquirer that UKs International Trade Secretary Liam Fox announced that they would like to have a free trade agreement with the Asean after Brexit, noting that the UK was not allowed to make any trade negotiations while its divorce from EU was ongoing.

Fox visited the Philippines last April 3 to 4, making the country the first Asean member that the cabinet official visited after UK formally notified EU of its plan to leave the economic bloc. Lopez said he was informed about this intent during the visit in his position as this years Asean chair.

UK said it can explore with Asean FTA as they Brexit, Lopez said in a text message yesterday.

He said that a regional trade deal would be more efficient to pursue because that would mean an FTA with 10 countries instead of one at a time.

UK and the EU, which will one day be divorced from each other, seem to have their eyes set on the Asean market, which has a combined economy of $2.6 trillion and a market of 600 million people.

In March, the Asean Economic Ministers, together with EU Trade Commissioner Cecilia Malstrm, announced that they would eventually go back to the negotiating table for a regional trade deal, years after the initiative was dropped to focus on bilateral FTAs.

It would still take time for details to be fleshed out of the regional deals, with EU and Asean in the midst of crafting the framework of the agreement while it would take at least two years for UK to leave the European bloc.

Prior to this, British Ambassador to Manila Asif A. Ahmad said that the UK was interested in having an FTA with the Philippines after Brexit. He said they would adopt the terms of the EU-PH FTA, should it be completed during the two-year period.

However, Lopez suggested that the bilateral trade deal between UK and the Philippines might have to be dropped since the Philippines would still be engaged in the proposed UK deal via the Asean.

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UK eyes trade agreement with Asean after it leaves European Union - Inquirer.net

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At a plenary sitting of the European Parliament in Strasbourg MEPs gave give their final approval to a visa waiver for people from Russia-bordering sovereign state.

Passport holders from the country will now have up to three months visa-fee travel rights across European member states.

The legislation was approved by 521 votes to 75 with 36 abstentions

The measure is likely to come into effect in June, after it is formally adopted by the Council of Ministers.

The text was already informally agreed with the Council so no speeches were given.

The privileged travel arrangement will regulate short tourist and business visas, but will not grant Ukrainians additional access to jobs in the EU, which will still require works permits.

The deadline for fulfilling President Petro Poroshenkos election promise had been pushed back a number of times, frustrating Ukrainian voters.

Mr Poroshenkos approval rating only just stands in double digits, with the countrys economic struggles, rampant corruption and austerity measures adding pressure on his government.

The president was at a security forum in Kiev when he received news of the vote.

He said: I congratulate everyone who contributed to it! And all Ukrainians, as he shook hands with his former Prime Minister Arseny Yatsenyk, and as well as his successor Vladimir Groysman.

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Ukraine has a population of 45million people, and all those with a biometric passport, or new passport containing a digital chip, will be allowed visa-free travel.

Not all Ukrainians have biometric passports.

Ukrainian officials began accepting applications in 2015, receiving more than 65,000 in the first month.

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Ukrainian police experts look for evidence next to the body of former Russian MP Denis Voronenkov after he was shot dead on March 23, 2017 in the center of Kiev

This time the decision will not apply to the UK and Ireland.

There were fears allowing visa-free travel will lead to an influx of refugees following Russias invasion of southeastern Ukraine.

In 2016 Polish Prime Minister Beata Szydo sad 1m migrants from the nation - but she was later accused of exaggeration.

The vote today follows the approval of new EU emergency powers to suspend visa-free travel rights last December, to avoid such a situation.

If there is a large increase in asylum requests, the new powers allow either the Commission or a majority of EU states to suspend a countrys visa exemptions.

The crisis in Ukraine began in November 2013 when pro-Moscow President Viktor Yanukovych's government abandoned a deal with the European Union in favour of stronger ties with Russia.

But pro-European protesters broke out and took to the streets, occupying Government buildings.

President Yanukovych was removed from power after 88 people were killed in two days in Kiev.

Russia seized Crimea from Ukraine in March of 2014 causing deep anger among its people.

Fighting between Ukrainian government troops and Russia-backed separatists has killed more than 9,600 people in eastern Ukraine since it began in 2014.

Rapporteur for the proposal Mariya Gabriel said: Ukraine has achieved all the benchmarks, so the visa requirement should be lifted.

She also said the decision sends another very strong message that Ukraine is a key partner for the European Union in the Eastern Partnership.

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Ukraine's passport website crashes after EU votes for visa-free travel - Express.co.uk