Welcome to E-TISNET Monthly News to keep you abreast of the latest developments on trade and investment relevant to the Asia-Pacific region. E-TISNET Monthly News is the electronic and user-friendly version of the former TISNET Trade and Investment Information Bulletin.
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IN FOCUS: ESCAP
Asia-Pacific Trade Facilitation Forum 2010: "Trade Facilitation for Regional Connectivity: Advancing Paperless Trade", Kuala Lumpur , Malaysia , 5-6 October 2010
The Asia-Pacific Trade Facilitation Forum aims to promote trade facilitation as an important component of a comprehensive strategy for national and regional development. The Forum, now held annually at the request of participants to the first event, provides an open regional platform to exchange information, experiences and practices for trade facilitation in Asia-Pacific, identify priority areas for regional cooperation and integration, and learn about new tools and services which can increase the efficiency of cross-border transactions that will ultimately improve the competitiveness of firms in the region.
Following up on the recommendations of the 2009 Asia-Pacific Trade Facilitation Forum, which emphasized the need to improve regional and subregional connectivity, the theme of this year's Forum is “Trade Facilitation for Regional Connectivity: Advancing Paperless Trade”.
For more information please visit < http://www.unescap.org/tid/projects/tfforum.asp >
CAREC Single Window Implementation Seminar: Azerbaijan Case Study, Baku, Azerbaijan, 6-8 July 2010
The main objective is to build capacity for national and regional single windows development in countries member of Central Asia Regional Economic Cooperation (CAREC), including through learning from the experience of Azerbaijan and other countries that have made progress towards the establishment of single window facilities for trade facilitation.
For more information please visit < http://www.unescap.org/tid/projects/carecsw.asp >
A. GLOBAL FINANCIAL CRISIS AND IMPACT ON TRADE AND INVESTMENT
UN Report predicts global FDI to exceed $1.2 trillion in 2010, Reuters, 22 July 2010
ADDIS ABABA, The United Nations Conference on Trade and Development (UNCATD) said on Thursday that global foreign direct investment (FDI) flows bottomed out in the later half 2009 and then achieved a modest recovery in the first half of this year. UNCTAD launched the World Investment Report 2010 on Thursday at the UN-ECA here in Addis Ababa , Ethiopia . The Report said the global FDI flows are expected to pick up to over 1.2 trillion U.S. dollars in 2010, rise further to over 1. 3 trillion dollars in 2011, and head towards more than 1.6 trillion dollars in 2012. During his presentation on the World Investment Report 2010 entitled "Investing in A Low-Carbon Economy", Ralf Krueger, economic affairs Officer of UNCTAD, said FDI flows to and from developed countries contracted by more than 40 percent in 2009 to 566 billion dollars and 821 billion dollars respectively, following a similar decline in the previous year.
Accessed on 22 July < http://news.xinhuanet.com/english2010/ >
>Bangladesh : FDI inflow situation, The Financial Express, 26 July 2010
THE data presented on the global foreign direct investment (FDI) flow situation in 2009 by the United Nations Conference on Trade and Development (UNCTAD) in its just published World Investment Report 2010 are the least unexpected ones. The FDI flow fell world-wide as an obvious outcome of one of the worst global financial crises in late 2008, followed by world-wide recession in 2009. The economic malaise has taken its toll on every country, big or small, rich or poor. The Bangladesh economy somehow showed its resilience, in the face of the recent global economic ills, largely because of its very limited exposure to, and integration with, outside financial markets.
Accessed on 26 July < http://www.thefinancialexpress-bd.com/>
World Bank: Foreign investment 2.5% of China's GDP, People Daily , 20 July 2010
About 20 percent of all foreign direct investment (FDI) in developing countries over the past 10 years went to China and China received more than 100 billion U.S. dollars in FDI in 2008, according to a report by the World Bank. The report, titled "Foreign Direct Investment – the China story," said that in terms of share of China 's GDP and investment, FDI accounted for some 2.5 percent of GDP on average over the last five years. The challenge for China now is to attract the right kind of FDI as it strives to rebalance its economy, improve the environment and move up the value chain, according to the report. Recent FDI strategies have taken a more selective approach, which aims to attract environmentally sustainable, energy efficient and technologically advanced industries. In line with its global economic rank, China is providing a level playing field for all firms, domestic and foreign alike, according to the report.
Accessed on 20 July < http://english.peopledaily.com.cn/90001/90778/90861/7073434.html >
IMF hails China 's policy response in financial crisis, Xinhua , 27 July 2010
WASHINGTON, Chinese authorities have taken "quick, determined and effective" measures to help its economy regain momentum against the worst financial turmoil in decades, said the International Monetary Fund (IMF) on Tuesday. "Executive Directors commended China 's proactive and decisive policy response to the global economic crisis," the IMF Executive Board said in its annual report on China 's economic policy assessments and recommendations after consultation with Chinese authorities. "The authorities' quick, determined, and effective policy response has helped mitigate the impact on the economy and ensured that China has led the global recovery."
Accessed on 27 July < < http://news.xinhuanet.com/english2010/china/ >
UN report shows Hong Kong ranks 4th globally by foreign direct investment, Xinhua , 26 July 2010
Hong Kong has many advantages in attracting foreign direct investment, including rule of law, free flows of information, geographic location at the center of Asia and as the gateway to China 's mainland," he said. He also pointed to new developments regarding the city's growing competitiveness and attractiveness in having more FDI inflows, including the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA), HK's expanding network of double-taxation agreements with other economies and HK's increasing businesses in the Chinese currency renminbi.
Accessed on 26 July < http://english.peopledaily.com.cn/90001/90778/90861/7081058.html >
Indonesia sees surge in 2010 foreign direct investment, Forexyard, 28 July 2010
JAKARTA , Indonesia 's government sees foreign direct investment (FDI) rising more than expected in 2010, as new and existing investors are drawn by strong consumer demand in Southeast Asia 's biggest economy. The surge in FDI could improve Indonesia 's prospects of achieving a much-coveted investment grade credit rating, by providing a more stable source of longer-term investment which would in turn create jobs and spur growth.
The past 18 months has seen a stampede by foreign and local investors into Indonesian stocks, bonds, and the rupiah currency because of the combination of political stability and strong economic growth.
Accessed on 28 July < http://www.forexyard.com/Indonesia-sees-surge-in-2010-foreign>
Japan export growth slows but beats forecasts, Daily Times, 27 July 2010
* Exports rises 27.7 percent to 5.87 trillion yen n Imports jump 26.1 percent to 5.18 trillion yen TOKYO : Japanese exports continued to rise in June on shipments to Asia but the pace of growth was the slowest this year amid signs that recovery may be losing steam as global demand falls, data showed Monday. “We previously saw a robust, V-shaped recovery in exports after the financial crisis. Now the speed of the recovery is tapering off,” said Atsushi Kamio, economist at the Daiwa Research Institute. However, the slow-down was less sharp than economists had expected.
Accessed on 27 July < http://www.dailytimes.com.pk/default.asp?page >
Malaysia's FDI takes a tumble, Today Online, 26 July 2010
KUALA LUMPUR - A lack of confidence in Malaysia 's economy has driven foreign direct investment (FDI) away, leaving the once-roaring "Asian tiger" to compete with countries in the Indochina region, said an opposition party yesterday. The World Foreign Investment Report 2010 released by the United Nations on Thursday showed that FDI in Malaysia plunged 81 per cent last year, trailing behind the Philippines , Vietnam , Thailand , Indonesia and Singapore . "For the first time ever in history, Malaysia attracted less investment than the Philippines ," said Mr Tony Pua, the chief economist for the Democratic Action Party. The Philippines attracted US$1.95 billion ($2.67 billion) in FDI compared to Malaysia 's US$1.38 billion, while Singapore raked in the most - more than US$16 billion.
Accessed on 26 July < http://www.todayonline.com/Malaysias-FDI-takes-a-tumble >
Pakistan : FDI dropped by 56.1pc in 2009: WIR, Pakobserver , 26 July 2010
Islamabad —Foreign Direct Investment (FDI) in Pakistan dropped by 56.1 percent in 2009, revealed the latest World Investment Report (WIR) for 2010 released by the United Nations Conference on Trade and Development (Unctad). According to the report, FDI in Pakistan declined by 56.1 percent, as Pakistan received $2.38 billion in 2009 as compared to $5.43 billion in 2008. India 's FDI decreased by 14.36 percent as it received $34.61 billion in 2009 as compared to $40.14 billion in 2008. Bangladesh witnessed a decline in FDI by 36 percent receiving $716 million in 2009 as compared to $1.086 billion FDI in 2008. Sri Lanka 's FDI declined by 46.27 percent as it received $404 million FDI in 2009 as compared to $752 million in 2008. Afghanistan 's FDI declined by 38.33 percent as it received $185 million FDI in 2009 as compared to $300 million in 2008.
Accessed on 26 July < http://pakobserver.net/detailnews.asp?id=43536 >
South Korean Economy Expanded Faster-Than-Estimated 1.5% in Second Quarter, Bloomberg, 26 July 2010
South Korea 's economy grew faster than expected in the second quarter, bolstering the case for a further increase in interest rates as Asia weathers global risks. Gross domestic product increased 1.5 percent from the previous three months, when it gained 2.1 percent, the central bank said in Seoul today. That was more than the 1.3 percent median forecast in a Bloomberg News survey of seven economists. From a year earlier, GDP rose 7.2 percent. The growth figures raise the risk of the Bank of Korea boosting rates twice more by year-end, Barclays Capital analysts said today as they increased their 2010 GDP growth projections. The central bank in July joined counterparts from Thailand to Taiwan and Malaysia in raising rates, and India is forecast to boost borrowing costs tomorrow for the second time this month as Asia leads the global recovery and grapples with price pressures.
Accessed on 26 July
< http://www.bloomberg.com/south-korea-economy-grew-1-5-in-second-quarter-from-three >
B. TRADE FACILITATION AND INVESTMENT PROMOTION
Shanghai Expo providing platform for business success, Xinhua, 19 July 2010
BEIJING , Expo 2010 Shanghai is proving to be a boon for successful Chinese entrepreneurs eager to tap into the global market. The 184-day event, which is predicted to attract an estimated 4 million foreign visitors along with global media coverage, is considered to be a golden opportunity for Chinese companies to raise their brands to an international level and explore business opportunities. According to survey released last year by the information office of Shanghai Municipal Government, more than a quarter of the respondents were hoping to visit Shanghai during the Expo to seek future business. The online survey polled 503 foreigners in 44 countries and regions across the world, 30 percent of whom were senior corporate executives.
Accessed on 20 July < http://news.xinhuanet.com/english2010/china/2010-07/>
Taiwan to prioritize FTA talks with major trade partners: presiden , Focus Taiwan, 17 July 2010
Taipei , Taiwan will place priority on its major trade partners in seeking to sign free trade agreements (FTA) in the wake of signing a landmark trade pact with China , President Ma Ying-jeou said Saturday. Ma's remarks came amid concerns about whether the talks on FTAs with other countries will be carried out after Taiwan inked an economic cooperation framework agreement (ECFA) with China on June 29. Taipei has long sought to sign FTAs with other governments. But so far it has made little headway, primarily due to opposition from China in the past. It has signed FTAs with only five governments, all in Central America -- Panama , Guatemala , Nicaragua , Honduras , and El Salvador . The president noted that Taiwan currently maintains trade exchanges with around 150 countries, but it is not going to discuss signing an FTA with each of them.
Accessed on 17 July < http://focustaiwan.tw/ShowNews/WebNews_Detail. >
India : Investment norms for FDI-funded companies likely to be relaxed, Economic Times, 27 July 2010
NEW DELHI : The government may relax norms governing investments by Indian companies having foreign direct investment, allowing them to invest internally generated funds in subsidiaries without prior approval. Investment proposals funded through internal accruals of such companies currently need approval from the Foreign Investment Promotion Board (FIPB), the apex inter-ministerial body that clears foreign investment proposals. The finance ministry and the department of industrial policy and promotion are considering lifting this restriction and a decision is expected shortly, said an official privy to the discussions. The permission may be given only for investment in sectors on the automatic route that do not require FIPB nod. The current thinking in the finance ministry is that FIPB approval for using internal accruals, or accumulated profits and depreciation charges, is an unnecessary hurdle for companies looking to invest in the country.
Accessed on 27 July < http://economictimes.indiatimes.com/Investment-norms-for-FDI >
C. WTO RELATED NEWS
Bangladesh : WTO help sought to protect intellectual property of LDCs, The Nation, 29 July 2010
Commerce Minister Faruk Khan on Tuesday sought cooperation of World Trade Organisation (WTO) and development partners to attain trade benefits by identifying and protecting intellectual property (IP) of least developed countries (LDCs). Though rich in heritage, traditional knowledge, and resources, the LDCs could not identify and use IP for the lack of adequate knowledge and financial ability, he said. He was speaking as the chief guest at the inaugural session of a three-day workshop on 'Assessment of Priority Needs to Implement the Trips Agreement' at a city hotel. The commerce ministry and WTO have jointly organized the workshop. Commerce Ministry WTO Cell Director General Amitav Chakravartee conducted the function while Antoni Tubman of WTO spoke as the special guest.
Accessed on 29 July < http://nation.ittefaq.com/issues/2010/07/29/news0691.htm >
China key for trade growth: WTO chief, Xinhua , 26 July 2010
BEIJING , The World Trade Organization (WTO) on Friday lauded China for the significant role it has played in reviving global trade growth and said the nation has more than fulfilled its commitment to the organization. The WTO said in its annual report released on Friday that it expects global trade to grow by 10 percent this year. WTO chief Pascal Lamy told reporters in Shanghai that "trade growth is coming back fast after a terrible 2009, thanks in no small measure to the continuing dynamism of China and the other nations."
Accessed on 26 July < http://news.xinhuanet.com/english2010/business/2010-07/26/c_13415307.htm >
China gets WTO backing in chicken import row with US, People Daily, 29 July 2010
BEIJING - The nation has notched up a victory against the United States after a World Trade Organization (WTO) panel ruled in China 's favor in a dispute over the ban on imports of Chinese chicken, sources with the Commerce Ministry said on Wednesday. The ruling is expected to come into effect soon and will help open up the US market for finished chicken breast exports, the sources said. The nation is already a major exporter of chicken products to Japan . The WTO said in June, in an interim ruling, that the US decision was in violation of its rules and regulations.
Accessed on 29 July < http://english.peopledaily.com.cn/90001/90778/90860/7084815.html >
G20 Summit and ASEAN, The Jakarta Post, 20 July 2010
South Korea is going to host the Group of Twenty (G20) Summit this Nov. 11-12 in Seoul . After the conclusion of the Summit in Toronto , Canada , last June, it is now South Korea 's turn to chair the organization until the November Summit meeting. South Korea is the third Asian country to chair G20 after India in 2002 and China in 2005. The Seoul Summit is particularly important because it is held following the fiscal crisis in Greece last March that has been spreading to other members of the eurozone as well. South Korea is an excellent showcase of a successful Asian model of export-led development strategy not only by adopting an mercantilist undervalued exchange rate but also by raising labor productivity and reducing transaction costs in her economy.
Accessed on 20 July < http://www.thejakartapost.comg20-summit-and-asean.html >
India may turn flexible at WTO sectoral talks, Economic Times , 21 July 2010
NEW DELHI : India may agree to a steeper reduction in import duties in certain industrial goods beyond the general levels agreed to under the Doha round of the world trade organisation, or WTO, if it can take the stalled talks forward. These duty reductions are being debated under the controversial ‘sectoral' discussions at the WTO and call on countries to make steep reduction in identified industrial goods. India has been resisting discussions on sectorals saying that participation should be voluntary and not linked to incentives or penalties. Though India continues to maintain its stand, it may be ready to be more flexible on the issue. “The sectorals will not go away.
Accessed on 21 July < http://economictimes.indiatimes.com/India-may-turn-flexible >
Indonesia : WTO agrees to set up panel to rule on US clove cigarette ban, The Jakarta Post, 21 July 2010
The World Trade Organization (WTO) has agreed to establish a panel to rule on Indonesia 's complaint that a US ban on clove cigarettes aimed at preventing teenagers from starting to smoke was discriminatory, a government official says. Trade Ministry Director General of International Trade Gusmardi Bustami said the WTO's Dispute Settlement Body (DSB) agreed during their second court session on July 20 to establish a panel to rule on the issue. “It agreed to establish a panel of experts despite ongoing US objections,” he told The Jakarta Post via telephone. He said the panel of three judges would be assisted by third parties consisting of representatives from Guatemala , Brazil , the EU, Turkey and Norway . The US raised its objections on the establishment of a panel in the first DSB court session in June.
Accessed on 21 July < http://www.thejakartapost.com/wto-agrees-set-panel-rule-us-clove>
Russia must improve IP enforcement to join WTO – US, Forexyard, 21 July 2010
WASHINGTON , Russia must improve efforts to stop piracy and counterfeiting of U.S. music, movies and other goods to achieve its longterm goal of joining the World Trade Organization, a U.S. official said on Wednesday. "We have made clear to the Russia government repeatedly that intellectual property enforcement has to be strengthened in order for them to enter the WTO," Victoria Espinel, the U.S. intellectual property enforcement coordinator, told the House of Representatives Foreign Affairs Committee.
A few weeks ago, U.S. President Barack Obama and Russian President Dmitry Medvedev pledged to resolve issues blocking Russia 's WTO accession by the end of September.
Accessed on 21 July < http://www.forexyard.com/Russia-must-improve-IP-enforcement>
Doha may aid Thai crops, Bangkok Post, 20 July 2010
Thai export crops of rice, sugar and tapioca stand to gain should the Doha Round of world trade talks break its deadlock and take effect, according to a new study by Thammasat University . But some existing programmes, such as the farmers' income insurance, will be affected if the government cuts domestic subsidies to comply with world trade agreements. Thamavit Terdudomtham, an economics professor at Thammasat University , said greater tariff cuts and a dismantling of non-tariff barriers by global trading partners would definitely benefit Thai farm products. The Doha Round has been delayed for six years, ever since falling short of a consensus after the European Union and the United States refused to cut farm subsidies, while Brazil and India stalled on calls to reduce tariffs on industrial goods.
Accessed on 20 July < http://www.bangkokpost.com/doha-may-aid-thai-crops >
D. REGIONAL AND BILATERAL TRADE AND INVESTMENT RELATIONS
CHINA – ASEAN
FTA boosts China-ASEAN H1 trade by 55 per cen, People Daily , 26 July 2010
Trade between China and the Association of Southeast Asian Nations (ASEAN) surged 55 percent in the first half of this year to reach 136.5 billion U.S. dollars boosted by an agreement to expand bilateral trade, the China-ASEAN Free Trade Area (CAFTA), officials say. China's trade with the ASEAN also outgrew the country's total foreign trade by 11 percentage points for the same period, Gao Hucheng, China's vice minister of commerce, said Monday at a press conference held in Beijing. China 's imports from ASEAN countries hit 71.9 billion U.S. dollars in the first half, up 64 percent year on year, while exports to them from China grew 45 percent to 64.6 billion U.S. dollars, Gao said.
Accessed on 26 July < http://english.peopledaily.com.cn/90001/90776/90883/7080846.html >
PAKISTAN - AFGHANISTAN
Pak-Afghan Transit Trade Agreement, Daily Times, 17 July 2010
ISLAMABAD : Afghanistan on Friday said the main cause of smuggling from Afghanistan to Pakistan is higher import duty rates in Pakistan and administrative steps cannot help control smuggling as long as the profit margins are too high. Afghan side asked Pakistani authorities to reduce the import duties that would help reduce the profit margins on smuggle prone items and would help control border smuggling. The 7th round of Pak-Afghan Joint Working Group on Pak-Afghan Transit Trade Agreement (APTTA) has started on Friday that was jointly inaugurated by Commerce minister Makhdoom Amin Fahim and his Afghan counterpart Anwar ul Haq Ahadi.
Accessed on 17 July < http://www.dailytimes.com.pk/>
PAKISTAN - NEPAL
Pakistan-Nepal plan free trade pact: Report, Hindustan Times , 24 July 2010
Pakistan and Nepal plan to ink a Free Trade Agreement (FTA), with a high-level bilateral task force set to finalise the pact soon in a bid to boost bilateral trade and business, a news report said today. Nepal plans to ink the FTA with Pakistan in the next meeting of Joint Economic Commission (JEC) scheduled in October, Daily Times newspaper reported. "Nepalese side has desired to finalise FTA for the two countries in the next JEC which will be held on October 19-20 this year in Islamabad ," the daily quoted a communication sent to the Ministry of Commerce (MoC) from the Pakistan embassy in Kathmandu . The report, citing unnamed sources, said a task force comprising representatives from ministry of commerce from both countries has been set up for finalising the FTA.
Accessed on 24 July < http://www.hindustantimes.com/Pak-Nepal-plan-free-trade-pact-Report>
RUSSIA – USAID
Russia Signs Agreement with USAID on Energy Efficiency, TD World , 23 July 2010
The U.S. International Development and the Russian Energy Agency on July 21 signed a Protocol of Intent to deepen collaboration on energy efficiency, smart grid technology, and clean energy. The agreement will foster partnerships with U.S. and Russian utilities, regulators and others to share information and best practices. Potential activities will reduce energy loss in electricity systems and decrease levels of carbon emissions to help mitigate climate change. The signing occurred as a part of a larger program of the U.S.-Russia Bilateral Presidential Commission Energy Working Group under the leadership of U.S. Secretary of Energy Steven Chu and Russian Minister of Energy Sergey Shmatko.
Accessed on 28 July < http://tdworld.com/smartgrid_automation/russia-usaid-energy-efficiency >
E. DID YOU KNOW THAT?
Oil prices fall in Asian trade, Straits Times, 19 July 2010
SINGAPORE - OIL prices dipped in Asian trade on Monday as sentiment was dampened by weak US economic data that spurred concerns of slow demand in the world's largest energy consumer, analysts said. New York 's main contract, light sweet crude for delivery in August shed 30 cents to US$75.71 dollars a barrel while Brent North Sea crude for September delivery was 28 cents off at US$75.09 dollars. 'Oil prices have come off somewhat and the US economic data released (last week) was a little bit on the soft side,' said David Moore, a Sydney-based commodity strategist with the Commonwealth Bank of Australia . 'That certainly is a factor that is acting to dent the oil price at present.' Economic reports released on Friday renewed concerns about the US economic recovery after the University of Michigan said its consumer sentiment index dropped almost 10 points - far steeper than forecast - to 66.5 in July.
Accessed on 19July < http://www.straitstimes.com/BreakingNews/Money/Story/ >
Australia PM to hold off on carbon trade until 2013, Reuters , 23 July 2010
Australian Prime Minister Julia Gillard, seeking re-election in an Aug. 21 election, is set to unveil a new climate policy proposal on Friday as she seeks to address one of the most hotly contested issues in the campaign. The proposals will include delaying an emissions trading scheme, proposed by the leader she replaced Kevin Rudd, until at least 2013, and will also make credible action by the world's biggest polluters a key condition for implementation, the Sydney Morning Herald reported on Friday. The proposal will stick with the government's earlier promise to cut carbon emissions by at least 5 percent by 2020, while Gillard is also expected to outline energy saving policies and incentives for heavy polluters to cut emissions. Climate change and emissions trading is one of the most sensitive issues in Australian politics and Rudd's decision in April to delay a carbon trading scheme was a key factor leading to his ousting after a slide in Labor's poll ratings.
Accessed on 23 July < http://af.reuters.com/article/energyOilNews/idAFSGE66L0JH20100722 >
China : Domestic carbon trading programs in pipeline, People Daily , 22 July 2010
The country is set to begin domestic carbon trading programs during its 12th Five-Year Plan period (2011-2015) to help it meet its 2020 carbon intensity target. The decision was made at a closed-door meeting chaired by Xie Zhenhua, deputy director of the National Development and Reform Commission (NDRC), and attended by officials from related ministries, enterprises, environmental exchanges and think tanks, a participant told China Daily on Wednesday on condition of anonymity. "The consensus that a domestic carbon-trading scheme is essential was reached, but a debate is still ongoing among experts and industries regarding what approach should be adopted," the source said. The meeting concluded that such efforts are self-imposed and should be strictly separated from ongoing international negotiations for a successor to the Kyoto Protocol to fight global warming, the source said.
Accessed on 22 July < http://english.peopledaily.com.cn/90001/90776/90882/7075879.htm >
China , India become top exporters to UAE, Xinhua, 21 July 2010
ABU DHABI, China and India replaced long- standing Western suppliers of goods to the United Arab Emirates ( UAE) to become the dominant exporters to the Gulf nation, accounting for nearly a quarter of its total imports last year, the Emirates Business 24/7 website reported Wednesday. India exported a record high 61.5 billion dirhams (about 16.7 billion dollars) worth of goods to the UAE in 2009, accounting for around 13.7 percent of the country's total imports, the report said, citing figures by the National Bureau of Statistics of the Economy Ministry. The figures showed that China 's exports to the UAE stood at 47. 8 billion dirhams (about 13 billion dollars) last year, constituting around 10.7 percent of the country's total imports of 447.3 billion dirhams (about 121.8 billion dollars).
Accessed on 21 July < http://news.xinhuanet.com/english2010/business/>
F. RECENT PUBLICATIONS ON TRADE AND INVESTMENT
World Economic and Social Survey 2010: Retooling Global Development, UNESCAP , (available online, PDF version, 1.35 MB, 200 pages)
Retooling global development is the main theme of this year's World Economic and Social Survey. The Survey highlights the need for a strong mechanism for global economic coordination which establishes coherence across all areas of global economic governance. It identifies the major global development challenges for the twenty-first century and suggests ways in which the mechanisms for global economic governance should adjust in order to face up to these.
Accessed on 31 July
World Investment Report 2010: Investing in a low-carbon economy, UNCTAD (available online, pdf version, 3131 KB, 221 pages)
Global foreign direct investment (FDI) flows began to bottom out in the latter half of 2009. This was followed by a modest recovery in the first half of 2010, sparking some cautious optimism for FDI prospects in the short term. In the longer term, the recovery in FDI flows is set to gather momentum. Global inflows are expected to pick up to over $1.2 trillion in 2010, rise further to $1.3–1.5 trillion in 2011, and head towards $1.6–2 trillion in 2012. These FDI prospects are, however, fraught with risks and uncertainties, including the fragility of the global economic recovery.
Accessed on 30 July < http://www.unctad.org/en/>
World Trade Report 2010: Trade in natural resources, WTO (available online, pdf version, 12969 KB, 256 pages)
The World Trade Report 2010 focuses on trade in natural resources, such as fuels, forestry, mining and fisheries. The Report examines the characteristics of trade in natural resources, the policy choices available to governments and the role of international cooperation, particularly of the WTO, in the proper management of trade in this sector. Accessed on 30 July < http://www.wto.org/english//world_trade_report10_e.pdf >
The economic impact of competition, ODI and DFID (available online, pdf version, 220 KB, 132 pages)
How do government policies and business practices affect the degree of competition in a given market? How does competition, in turn, affect market outcomes, such as prices, innovation and access to services?
Summarising the findings of a DFID-funded study, this paper compares the economic performance in four product markets in Bangladesh , Ghana , Kenya , Viet Nam and Zambia , and finds that the very different policy frameworks in place have a significant impact on competition, market outcomes and economic performance.
Accessed on 29 July < http://www.odi.org.uk/>
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