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
For enquiries and/or subscriptions, please contact us at email@example.com
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 >
IN FOCUS: ESCAP
Meeting of the Global Facilitation Partnership for Transportation and Trade (GFP) "Regional approaches to Trade and Transport Facilitation", 7- 8 October 2010
To exchange information and promote regional cooperation on trade and transit facilitation.
This event is organized back-to-back with the Asia-Pacific Trade Facilitation Forum 2010 and as part of the Asia-Pacific Trade Facilitation Week.
Organizers: World Bank, UNESCAP Trade and Investment Division, Asian Development Bank
For more information please visit
< http://www.unescap.org/tid/projects/tfforum10_overview.pdf >
A. GLOBAL FINANCIAL CRISIS AND IMPACT ON TRADE AND INVESTMENT
Premature end to economic stimulus could risk double-dip recession, UN warns, UN News Centre, 14 September 2010
Premature withdrawal of macroeconomic stimulus measures in developed countries in the face of budget deficits may trigger a deflationary spiral in the global economy, with attendant slumps in growth and employment, a major United Nations trade agency warned today. “Ending stimulus measures too soon in an effort to restore the confidence of financial markets could be counterproductive,” the UN Conference on Trade and Development (UNCTAD) said in its 2010 report, noting that spreading fiscal austerity in Europe and lack of consensus in the G-20 group of developed and major developing economies risked a double-dip recession.
Accessed on 14 September <http://www.un.org/apps/news/story.asp?NewsID=35923=>
UN says economic crisis has dealt major blow to aid, AFP , 17 September 2010
UNITED NATIONS — The United Nations and International Monetary Fund said Thursday that the global financial crisis has dealt a critical blow to aid for poor countries with billions of dollars needed to meet shortages. Both institutions said that the world must return to sustainable growth to hope to reach global poverty and health targets. UN Secretary General Ban Ki-moon said the economic "upheaval has caused further shortfalls on aid, trade and debt, and on affordable access to medicines and technology." The impact has particularly hit Africa , according to a new UN report on the funding gap on reaching the Millennium Development Goals. "Although official development assistance is at an all-time high, we are 20 billion dollars short on commitments made for this year," Ban said. " Africa accounts for 80 per cent of that gap, that means 16 billion dollars.
Accessed on 17 September < http://www.google.com/hostednews/afp/article>
Slowing recovery a policy headacheReuters, 19 September 2010
The sputtering global economy is complicating life for policymakers from Washington to Tokyo . When the financial crisis erupted in 2007, authorities around the world began throwing nearly everything they had at the problem to avoid a re-run of the Great Depression. Three years later, with the global recovery losing momentum, they find themselves in a tough spot yet again. This time, if things get worse, they won't have as many tricks left in the bag to jump-start their faltering economies. What's more, whatever medicine they prescribe may well come with unpleasant side effects. For the Federal Reserve, the medicine in question could be more large-scale purchases of U.S. Treasury bonds, though officials are unlikely to unleash that option at their policy-setting meeting on Tuesday.
Accessed on 19 September < http://www.reuters.com/article/idUSTRE68I22D20100919 >>
IMF says economic growth key to Millennium Goals, RTT News, 21 September 2010
International Monetary Fund head Dominique Strauss-Kahn on Monday said the global economic crisis had set back progress towards the UN's Millennium Development Goals, and urged countries to get their economies back on track to speed up progress to ensure greater success towards achieving the targets. "Because of the crisis - not only the financial crisis but also the food and fuel crisis - we have lost years of progress, and the momentum has been derailed," Strauss-Kahn told a gathering of world leaders on the MDGs in New York . "We must redouble our efforts in the face of this immense human suffering. We must strive for a speedy return to the pre-crisis path.
Accessed on 19 September < http://www.rttnews.com/Content/AllEconomicNews.aspx >
China : Boost domestic demand rather than raise yuan, Business Day , 20 September 2010
China 's economy retains strong growth potential even as the international situation grows more complicated after the global financial crisis. China confronts a challenging international environment and must boost domestic demand, said Li Daokui, an academic adviser to the People's Bank of China, at a financial forum in Beijing yesterday. China 's economy retains strong growth potential even as the international situation grows more complicated after the global financial crisis, said Prof Li, who was appointed in March as one of three academic advisers to the central bank. Pressure to let the yuan rise will grow over the next few years, while both China and India face swelling trade protectionism against export goods, he said.
Accessed on 20 September < http://www.businessday.co.za/articles/Content.aspx?id=121491 >
Factories power India's 8.8% growth, The Wall Street Journal, 1 September 2010
NEW DELHI —Expansion in manufacturing and services drove India 's economy to its fastest growth in more than two years in the April-June quarter, reassuring policy makers that they have leeway to tighten policy to cool rising prices. The economy grew 8.8% year-on-year in April through June, the first quarter of the current fiscal year, the government said Tuesday. The latest data outpace the 8.6% expansion in the final quarter of the fiscal year that ended in March. They also are stronger than the 6.0% expansion in last year's first quarter, when the economy was still feeling the global financial crisis. The figures underscore the strong recovery in India 's economy— Asia 's third-largest and among the earliest to emerge from the crisis. The data will reassure authorities that the recovery is on a firm footing, giving the central bank confidence to accelerate its move away from easy monetary policy.
Accessed on 1 September < http://online.wsj.com/article/>
New Zealand rated well placed to handle economic crisis, Radio New Zealand , 2 September 2010
The International Monetary Fund has assessed the New Zealand Government finances as amongst the strongest in the world, saying it well placed to deal with an economic crisis. The Washington-based organisation says the strong position is based on the New Zealand Government's low level of debt. It is the second lowest of the 23 developed countries it analysed. Australia has the lowest debt. The IMF says countries have different thresholds for government debt above which debt can spiral out of control. It says New Zealand is one of a handful of developed countries which are operating well below that threshold. Other countries include Norway , South Korea and Denmark.
Accessed on 2 September < http://www.radionz.co.nz//nz-rated-well-placed-to-handle>
Singapore economy seen growing 15% in 2010, The Star, 1 September 2010
SINGAPORE : Singapore 's economy will likely expand at a record pace this year as a surge in demand for the city-state's exports fuels manufacturing, according to a central bank survey of analysts. The city-state's gross domestic product will likely grow 14.9 percent this year, according to the median forecast of 20 economists in the quarterly survey, the Monetary Authority of Singapore said Wednesday. In the previous survey in June, analysts had expected the economy would grow 9 percent this year. Singapore's economy - which relies on trade, finance and tourism - will likely be led this year by a 29 percent expansion of the manufacturing sector as non-oil exports soar 20 percent, according to the analysts.
Accessed on 1 September < http:// biz.thestar. com.my/news/story.asp?file=/2010/9/1/business>
IMF: Keen to put Lankan economy on track, Sunday Times , 19 September 2010
OSLO - The International Monetary Fund (IMF) said this week that Sri Lanka 's financial situation hasn't improved as fast as expected and the Fund was reconsidering (restructuring) its Stand By Arrangement (SBA) programme to help put the economy back on track. “It's true to say that the situation in Sri Lanka hasn't improved as fast as expected. So we are reconsidering this programme as our role is not only to put the economy on track but to take the economic reality into consideration,” said IMF Managing Director Dominique Strauss-Kahn at a news conference in Oslo on Monday during a one-day summit on the jobs crisis and reducing poverty.
Accessed on 19 September < http://www.sundaytimes.lk/100919/BusinessTimes/bt01.html >
Thailand: Finance Ministry, NESDB upbeat about economic growth, Bangkok Post , 21 September 2010
BANGKOK , Thailand 's Finance Ministry and the National Economic and Social Development Board (NESDB) share in common the view that the Thai economy this year might grow as much as 8 per cent, higher than the 7.5 per cent expected earlier, because the country's economic fundamentals remain very strong, according to Permanent Secretary for Finance Sathit Limpongpan. He said exports in August grew considerably although the baht continued strengthening. It showed the stronger baht had not significantly affected the export sector, except for small- and medium-size enterprises and processed agricultural products.
Accessed on 21 September < http://www.mcot.net/cfcustom/cache_page/105190.html >
Recovery of U.S. economy takes years rather than months, says economist, Xinhua , 3 September 2010
CHICAGO , Sept. 2 - The U.S. government has taken necessary actions on both monetary policy and fiscal sides to prevent U.S. economy from collapsing during the financial crisis, but the recovery will take years rather than months, said a U.S. economist in a recent interview with Xinhua in Chicago . Randall Kroszner, a Norman R. Bobins Professor of Economics at the University of Chicago Booth School of Business, served as a Governor of the Federal Reserve System from March 2006 until January 2009. During his time as a member of the Federal Reserve Board, he chaired the committee on Supervision and Regulation of Banking Institutions and the committee on Consumer and Community Affairs. Analyzing the causes of the U.S. financial crisis right before its second anniversary in September, Kroszner said: "There are many causes for the financial crisis, one of the important factors really relates to the amount of leverage that was in the system."
Accessed on 3 September < http://news.xinhuanet.com/english2010/ >
B. TRADE FACILITATION AND INVESTMENT PROMOTION
APEC customs officials agree to pursue simplification of procedures, MCOT, 15 September 2010
Pacific Rim economies on Tuesday agreed at a meeting of customs administration officials that they need to promote trade through the simplification of customs procedures and with tougher measures to tackle intellectual property violations. The one-day gathering in Tokyo of customs directors-general and commissioners is part of a series of meetings Japan is hosting as the chair of this year's Asia-Pacific Economic Cooperation forum. In a chair's statement issued after the meeting, the participants agreed on eight priorities, including the development of a program in each economy that would enable government-designated traders to have access to simplified customs procedures. The so-called Authorized Economic Operator programs have become popular as many countries are concerned about the safety of incoming goods especially after the Sept. 11 terrorist attacks on the United States in 2001.
Accessed on 15 September < http://www.mcot.net/cfcustom/cache_page/102728.html >
EU firms urge China to drop barriers to business, Reuters , 1 September 2010
BEIJING , European companies called on Thursday for equal access to China 's markets and expressed concern that Beijing is backsliding on regulatory reform. In its annual position paper, the European Union Chamber of Commerce in China listed a familiar array of barriers that it said were preventing its members from competing with their local rivals on a level playing field. These include discrimination in favour of Chinese firms when enforcing environmental and labour laws; compulsory certification requirements that unduly restrict market access for foreign firms; and preferential treatment for products containing indigenous intellectual property.
Accessed on 1 September < http://www.reuters.com/article/idUSTOE68008020100902 >
Foreign Investment in China Climbs for 13th Straight Month to $7.6 Billion, Bloomberg News , 15 September 2010
Foreign direct investment in China climbed for the 13th straight month in August, even as U.S. and European companies complained of a worsening business environment and government discrimination. Investment rose 1.4 percent from a year earlier to $7.6 billion, the Ministry of Commerce said at a briefing in Beijing . Estimates of seven economists surveyed by Bloomberg News were for increases ranging from 6.7 percent to 80 percent. Investment in the first eight months of the year expanded 18.1 percent to $65.96 billion. Companies including Nissan Motor Co. and movie-theater operator Imax Corp. are expanding in the world's fastest-growing major economy to grab a share of a retail market that may outstrip the U.S. by 2016. China will be the No. 1 target country for foreign direct investment until the end of 2012, a United Nations report last week forecast.
Accessed on 15 September < http://www.bloomberg.com/investment-in-china-climbs-for-13th >
ADB Trade Finance to mobilize US$1.5-2billion, India Infoline , 20 September 2010
ADB President Haruhiko Kuroda announced this additional support for Pakistan at the High-Level Ministerial Meeting on the Flood Emergency in Pakistan , held today at the United Nations building in New York . The Asian Development Bank (ADB) is expanding its Trade Finance Program (TFP) in Pakistan by an additional $500 million. This could provide around $1.5-$2 billion of trade finance to help the country cope with the immediate needs arising from the recent devastating floods as well as longer-term reconstruction requirements. ADB President Haruhiko Kuroda announced this additional support for Pakistan at the High-Level Ministerial Meeting on the Flood Emergency in Pakistan , held today at the United Nations building in New York.
Accessed on 20 September < http://www.indiainfoline.com/ADB-Trade-Finance-to-mobilize-US-dollar>
Pakistan : FDI drops 50.2pc in 2 months, The Nations , 20 September 2010
KARACHI - The inflow of foreign direct investment into Pakistan has sharply dropped by $173.1 million during the first two months (July-August) of current financial year 2010-11. Pakistan received an amount of $171.4 million from the developed and emerging economies in July-Aug FY11, compared to $344.5 million in the same period of last year. In terms of growth, the FDI fell by 50.2 per cent over the corresponding period of past fiscal year. However, a slump in FDI growth was offset by considerable portfolio inflows, which increased to $95.6 million by registering 57.1 per cent growth during July-Aug FY11 from $60.9 million a year earlier, SBP reported on Monday.
Accessed on 20 September < http://www.nation.com.pk//FDI-drops-502pc-in-2-months >
Thailand : Steps to promote outflows confirmed, Bangkok Post , 24 September 2010
The Finance Ministry yesterday confirmed five measures to promote foreign investment and capital outflows:
- Allowing juristic persons to invest in or lend to other companies within a group with no limit;
- Allowing juristic persons to lend to non-group companies up to a limit of US$50 million per year;
- Raising the maximum for foreign property investment to $10 million a year from $5 million now;
- Increasing the maximum for foreign currency deposits held by Thai companies and individuals with no underlying transactions to $500,000; and
- Increasing the minimum amount requiring mandatory repatriation of export earnings to $50,000 from $20,000 now.
Accessed on 19 September < http://www.bangkokpost.com/steps-to-promote-outflows-confirmed >
C. WTO-RELATED NEWS
World goods trade up sharply: WTO, AFP , 2 September 2010
GENEVA — The value of world merchandise trade rose by just over 25 percent in the second quarter, maintaining the momentum from the first three months of the year, World Trade Organization data showed Wednesday. Exports were up 26 percent compared to the second quarter in 2009 while imports were up 25 percent. Emerging giants continued to lead growth, with China posting a 41 percent gain in exports by value while imports jumped 44 percent compared to the second quarter last year. India 's exports and imports were up about a third, while Brazil imported 56 percent more and exported 29 percent more. Exports from the United States also grew, while those from Europe were up 13 percent.
Accessed on 6 September < http://www.google.com/hostednews/afp/>
U.S. files WTO cases vs. China on steel, Market Watch, 16 September 2010
WASHINGTON , The U.S. filed two new trade cases against China at the World Trade Organization, claiming discrimination against U.S. steel makers and credit-card companies. The Obama administration's latest salvos in the increasingly heated trade relationship target import duties that China has imposed on electrical steel used in the power sector, as well as restrictions in providing electronic payment services in the country. "We are concerned that China is breaking its trade commitments to the United States and other WTO partners, both by favoring its one state-owned financial services firm to the exclusion of American credit- and debit-card companies and by manipulating trade remedy investigations to unfairly restrict exports of American steel," U.S. Trade Representative Ron Kirk said in a statement.
Accessed on 16 September < http://www.marketwatch.com/us-files-wto-cases-vs-china >
Republic of Philippines tells EU lift IT import duties on WTO ruling, GMA News , 22 September 2010
The European Union must now remove its import duties on certain information technology products since the Dispute Settlement Body of the World Trade Organization ruled on Aug. 16 it should do so, the Philippine mission to the WTO in Geneva , Switzerland said in a statement Monday. “The Philippines hopes and urges that the European Union promptly implement the DSB's recommendations and rulings of the adopted Panel Reports," said the mission headed by Philippine permanent trade representative Manuel AJ Teehankee.
Accessed on 22 September < http://www.gmanews.tv/rp-tells-eu-lift-it-import-duties-on-wto-ruling >
WTO places Taiwan 16th in export rankings, Taiwan Today , 17 September 2010
Taiwan advanced one spot to become the world's 16th largest exporter and 17th largest importer in the first half of 2010, according to statistics released Sept. 16 by the World Trade Organization. According to the WTO's short-term merchandise trade statistics, Taiwan 's exports in the first six months of the year surged by 49.1 percent from a year ago to US$131.92 billion, overtaking the position of Spain in the economies surveyed. Taiwan 's imports soared to US$119.98 billion, posting the largest annual gain of 64.8 percent among the top 30 importing countries. The Bureau of Foreign Trade under the Ministry of Economic Affairs said the encouraging results can be credited to the country's robust recovery after the global financial crisis in 2008.
Accessed on 20 September < http://www.taiwantoday.tw/ct.asp?xItem=118517&ctNode=445 >
D. REGIONAL AND BILATERAL TRADE AND INVESTMENT RELATIONS
ASEAN - VIETNAM
Viet Nam : FTAs have positive impact on ASEAN trade, Saigon-Gp Daily , 31 August 2010
At the 42nd ASEAN Economic Ministers' Meeting, the Chairman, Vu Huy Hoang, confirmed the positive impact the Free Trade Agreements (FTAs) have had on trade within the group. Mr. Hoang, who is also Vietnam 's Minister of Industry and Trade, said in an interview with the Vietnam News Agency (VNA) that ASEAN has signed FTAs with six of its major partners, including China , the Republic of Korea , Japan , India and Australia and New Zealand . The minister said the FTAs with these partners have helped boost ASEAN's exports, especially to China , RoK and Japan , which benefits Vietnam immensely. As a result, 27.8 percent of Vietnam 's export revenues to Japan receive preferential tariff rates under the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP). The rates under the free trade agreements between ASEAN and its partners are 21 percent to China and 79 percent to the RoK.
Accessed on 31 August < http://www.saigon-gpdaily.com.vn/Business/2010/8/85149/ >
CAMBODIA – CHINA
China delegation: Xi'an firms eagerly seek business ties, Phnompenh Post , 24 September 2010
CAMBODIA 'S Chamber of Commerce will sign an agreement to strengthen business ties with the Chinese city of Xi'an early next week. Calling it a “starting point” for Chinese investors interested in the Kingdom, Cambodia Chamber of Commerce international relations manager Keo Nimet said a Xi'an delegation was eager to match up with businesses in the Kingdom. “This the starting point for the Chinese firms to seek business opportunities and find local partners,” he said. He said that the council already had signed cooperation agreements with many Chinese provinces. Representatives from 12 large Chinese firms will attend the signing of the memorandum of understanding by Xi'an Bureau of Commerce Director Hao Mangxi and CCC President Kith Meng next week, to be witnessed by representatives from 20 local businesses.
Accessed on 24 September < http://www.phnompenhpost.com/index.php/china-delegation-xian-firms>
CHINA – JAPAN
China, Japan ties at new starting point, People Daily , 1 September 2010
China and Japan , the world's second- and third-largest economies, should lead Asia to have a bigger say in international financial issues, economists and diplomats from two countries said at the Sixth Beijing-Tokyo Forum. Describing Asian activity as an engine of global economic revival and growth, Su Ning, chairman of China UnionPay and former deputy governor of the People's Bank of China, said in his keynote speech that China and Japan are standing at "a new starting point" in their cooperation in financial markets. "We need to make continuous efforts to expand bilateral trade and enhance economic dialogue, but working closely to promote regional financial cooperation between Asian countries for a better place in financial matters is equally important."
Accessed on 1 September < http://english.peopledaily.com.cn/90001/90778/90861/7124522.html>
EU leaders eye South Korea, Pakistan trade deals, AFP , 16 September 2010
BRUSSELS — European leaders scrambled Thursday to break an impasse on giving Pakistan trade-linked aid and to convince Italian Prime Minister Silvio Berlusconi to unblock a trade pact with South Korea. Britain and Germany were pushing the 27-nation European Union at a summit in Brussels to offer Pakistan trade advantages to help the country battle flood devastation and fears of rising Islamist extremism. In a letter to EU partners, British Prime Minister David Cameron called for a "concrete political commitment from the EU to Pakistan to enhance significantly its access to the EU market."
Accessed on 16 September < http://www.google.com/hostednews/afp/>
INDIA – EU
FTA negotiations to boost trade & investment between EU, India, The Financial Express , 16 September 2010
New Delhi : India and the European Union are on track to conclude FTA negotiations by early December. In the run up to the annual India-EU summit end of year, number of meetings are being lined up, prominently among which are meeting between the EU ministers from all sectors coming to India in November for negotiations, followed by the Anand Sharma going to Brussels for further talks. Talking to a select group of media persons on late Tuesday evening, Daniele Smadja, ambassador and head of the delegation of the European Commission said that, “The two sides are making extremely good progress in the EU-India FTA negotiations. Infact we expect that the negotiations will conclude by the time of the EU-India summit in Brussels , in December.”
Accessed on 16 September < http://www.financialexpress.com/FTA-negotiations-to-boost-trade>
India to implement FTA with Indonesia, Cambodia soon, Financial Express , 31 August 2010
New Delhi : India will soon implement the free trade agreement (FTA) in goods with two more Asean countries— Indonesia , Cambodia —by slashing duties on hundreds of products including seafood, chemicals, apparel and tyres. In turn the two countries will also slash import duties on hundreds of Indian goods. Besides, India will also meet New Zealand officials in October in Wellington to speed up the ongoing talks for a market opening pact, aims to enhance the $754 million trade between the two nations. “Recently in Delhi , the second round of negotiations was held. The third round is scheduled in October in Wellington (capital of New Zealand ). It will be at the Joint Secretary level,” an official said here.
Accessed on 31 August < http://www.financialexpress.com/India-to-implement-FTA>
INDIA – LAO PDR
India, Lao sign credit agreement, The Hindu , 14 September 2010
An agreement for a line of credit from India to Laos for $72.55 million for two hydro power projects announced by President Pratibha Devisingh Patil in Vientiane was formally signed by Exim Bank Executive Director Prabhakar Dalal and Lao Foreign Minister Somdy Donangly at a meeting of the India-Laos Business Forum on Monday. Addressing the Forum, President Pratibha Devisingh Patil on Monday called upon Indian businessmen to avail of the opportunities provided by the new Laos investment environment and urged private investors to enter the hydropower, mining, construction, roads, railways and agricultural sectors in Laos.
Accessed on 14 September < http://www.thehindu.com/news/national/article634294.ece >
KOREA - EU
EU approves FTA with Korea starting July 2011, Joongang Daily , 17 September 2010
Korea 's long-awaited free trade agreement with the European Union was finally clinched yesterday, overcoming objections by Italy , but with a face-saving delay that postpones the pact until next July. According to the Council of the EU and the Ministry of Foreign Affairs and Trade, the EU Foreign Affairs Council held a meeting yesterday and the 27 member countries decided to approve the FTA. The official signing is expected to take place on Oct. 6 in Brussels . The deal was initialed in October 2009. Holdout Italy , the only EU member opposed to the agreement, wanted the FTA's implementation to be delayed until Jan. 1, 2012, in order to allow its automobile industry to take steps to counter an expected wave of Korean car imports. Instead, the 27 countries compromised by setting July 1, 2011, as the start date.
Accessed on 17 September < http://joongangdaily.joins.com/article/view.asp?aid=2926162 >
PHILIPPINES - TAIWAN
Philippines mulling FTA with Taiwan: deputy trade secretary, Focus Taiwan , 2 September 2010
Manila, The Philippines is likely to start negotiating a free trade agreement (FTA) with Taiwan within a year, on the basis of the recent trade pact between Taiwan and China , the Philippines Deputy Trade Secretary Adrian Cristobal said Thursday. The Philippines is considering FTAs with the United States , the European Union, Vietnam , India , China and Taiwan , Cristobal said at a news conference in Manila . Although the Philippines is a member of the Association of Southeast Asian Nations plus China grouping and has an economic agreement with Japan , it will benefit from an FTA with Taiwan , Cristobal said.
Accessed on 2 September < http://focustaiwan.tw/ShowNews/WebNews_Detail.aspx?Type>
E. DID YOU KNOW THAT?
How do you spell growth? Think CIVITS, not BRIC, The Wall Street Journal, 17 September 2010
Forget the BRICs; it's all about the CIVITS. The new buzzword among hedge-fund managers in London, CIVITS—China, India, Vietnam, Indonesia, Turkey and South Africa—are tipped to be the hot spots to watch for growth through the current decade. The term BRIC, coined in 2001 by Goldman Sachs chief economist Jim O'Neilland referring to Brazil , Russia , India and China , has come to be widely used as a way of describing the transfer of economic power to the emerging markets and away from the developed world. But the latest acronym includes only China and India from the original lineup; Brazil is deemed now to be relatively well developed and the love affair with Russia is seen as over.
Accessed on 17 September < http://online.wsj.com/article/>
CHINA – INDONESIA
Chinese, Indonesian glossy paper to face U.S. import duties over subsidies, Bloomberg, 22 September 2010
Glossy paper imported from China and Indonesia will face duties in the U.S. after the Commerce Department ruled the products receive unfair subsidies and are dumped into the American market at a discount. The duties affect $260 million of paper used for magazines, and the dumping duties will reach as much as 135.83 percent for China and 20.13 percent for Indonesia , the department said yesterday in an e-mailed statement. Countervailing duties for subsidies will be as much as 17.94 percent for Indonesia and 178.03 percent for China .
Accessed on 22 September < http://www.bloomberg.com/chinese-indonesian-glossy-paper >
Japan : Moves to weaken yen not over, says Kan, CNN, 22 September 2010
Tokyo, Japan (FT) -- Japan stands ready to intervene again in foreign exchange markets but also plans to put in place broader economic and monetary policies that will help to weaken the yen, according to Naoto Kan, the prime minister. In an interview with the Financial Times, Mr. Kan stressed that Tokyo's yen-selling intervention last week was forced by "drastic" exchange rate moves, a reference to the 15-year highs Japan's currency hit against the dollar following his victory in a ruling party leadership battle. Mr. Kan said there was a "common recognition" among G-20 nations that overly rapid currency movements were undesirable and that he would seek to promote understanding of Japan 's action in New York this week.
Accessed on 22 September < http://edition.cnn.com/2010/BUSINESS/09/21/kan.yen.ft/index.html >
RUSSIA - CHINA
Russia : Medvedev Seeks to Diversify China Trade as Energy Exports Rise, Bloomberg, 24 September 2010
President Dmitry Medvedev travels to China next week in a bid to diversify trade even as Russia plans to boost oil and gas exports to the Asian nation. Medvedev, who took his first presidential trip outside the former Soviet Union to China in 2008, is returning for a three- day visit on Sept. 26 to push his agenda of Russia 's modernization away from a “primitive” resource-based economy. At the same time, Russia is set to open its first oil pipeline to China this year and plans to add natural-gas deliveries in the future, expanding from traditional markets in Europe . The risk is that demand from China , as the world's biggest energy consumer, could drown out Medvedev's attempts to export more value-added goods, analysts said.
Accessed on 24 September < http://www.bloomberg.com/medvedev-seeks-to-diversify>
Thailand : BoT: Baht could get stronger, Bangkok Post , 22 September 2010
The Thai baht could appreciate further if the foreign capital inflow continues, Bank of Thailand (BoT) assistant governor Suchada Kirakul said on Wednesday. More foreign capital could enter Thailand and other countries in Asia as the US central bank would likely keep the short-term interest rate at 0.00 to 0.25 per cent due to its fragile economy and low inflation, Mrs Suchada said. "The BoT will announce details of its plan to allow exporters to pay their freight costs in foreign currencies to ease the strong baht and lower their operating costs. "The bank can implement measures to curb the baht's appreciation after they are announced in the government gazette," she said.
Accessed on 22 September < http://www.bangkokpost.com/bot-baht-could-get-stronger >
Asia-Pacific Trade Facilitation Forum 2010: "Trade Facilitation for Regional Connectivity: Advancing Paperless Trade", 4-8 October 2010, Kuala Lumpur , Malaysia
* Enable sharing of experiences and knowledge on trade facilitation between countries of the greater Asia and Pacific region
* Foster increased understanding and exchange of views between public and private stakeholders, as well with trade facilitation standards developers and technical assistance providers
* Learn about and draw lessons from on-going implementation of national and regional trade facilitation measures
* Support subregional trade facilitation initiatives * Introduce relevant international tools, instruments, and facilities aimed at increasing the efficiency of regional and global cross-border trade, including latest tools by the United Nations Network of Experts for Paperless Trade in Asia and the Pacific
For more information please visit < http://www.unescap.org/tid/projects/tfforum.asp >
ARTNeT Trade Facilitation Research Team Meeting on Improving Regional Trade Procedures and Processes , 4-6 October 2010, Kuala Lumpur, Malaysia Objective: To disseminate ARTNeT Trade Facilitation research finding.
The World Statistics Day, 20 October 2010
The celebration of the World Statistics Day will acknowledge the service provided by the global statistical system at national and international level, and hope to help strengthen the awareness and trust of the public in official statistics. It serves as an advocacy tool to further support the work of statisticians across different settings, cultures, and domains. What to Expect On World Statistics Day, activities at national level will highlight the role of official statistics and the many achievements of the national statistical system. International, regional and sub-regional organizations will complement national activities with additional events. Accessed on 19 September < http://unstats.un.org/unsd/wsd/Default.aspx >
Expert meeting on promoting sub-regional growth-oriented economic and trade policies towards achieving the Millennium Development Goals in selected Arab countries, 7–8 October 2010, Geneva
This high-level expert meeting will mark the conclusion of the 2-year United Nations Development Account project N.6 on "Promoting sub-regional growth-oriented economic and trade policies towards achieving the Millennium Development Goals in selected Arab countries"
The purpose of the meeting is to discuss and disseminate the project findings on the potential role of trade policy and regional integration in employment generation and poverty reduction in the participating countries ( Egypt , Jordan , Morocco , the occupied Palestinian territory, and Sudan ) in line with MDGs 1 and 8.
The meeting will be attended by Trade Ministry officials from the participating countries, high level UNCTAD officials, as well as the project team members.
Accessed on 23 September < http://www.unctad.org/Templates/meeting.asp>
G. RECENT PUBLICATIONS ON TRADE AND INVESTMENT
Trade and Development Report, 2010: Employment, globalization and development, UNCTAD , (available online, pdf version, 3,167 KB, 214 pages)
The Trade and Development Report 2010 focuses on the need to make employment creation a priority in economic policy. Unemployment is the most pressing social and economic problem of our time, not least because, especially in developing countries, it is closely related to poverty. The fallout from the global crisis has exacerbated what were already sluggish labour markets in most countries even before the crisis erupted.
The Report warns that a premature withdrawal of macroeconomic stimulus measures to expand demand in developed countries may trigger a deflationary spiral in the global economy, with attendant slumps in growth and employment. Furthermore, the pattern of the recovery resembles that of imbalanced global demand growth that contributed to the build-up of the crisis. The lack of macroeconomic policy coherence among the major economies causes global current-account imbalances to re-emerge. This, together with other remaining systemic shortcomings, such as insufficiently regulated financial markets, carries the danger of a double-dip recession.
Accessed on 23 September <http://www.unctad.org/en/docs/tdr2010_en.pdf>
Investment and Enterprise Responsibility Review:Analysis of investor and enterprise policies on corporate social responsibility, UNCTAD, (available online, pdf version, 655 KB, 94 pages)
Transnational corporations (TNCs) play an ever more important role in sustainable development as conduits of capital, technology, and management know-how. Increasingly, TNCs are being called upon to address broader environmental, social and governance (ESG) issues. At the same time large globally active investment institutions are becoming increasingly aware of the potential impact of a range of non-financial issues (e.g. climate change, human rights, corporate governance practices) on an investment proposition.
This review of the current state of practices in the area of corporate social responsibility (CSR) among the world's 100 largest TNCs and responsible investment (RI) among the 100 largest institutional investors reveals a number of important insights.
Accessed on 23 September
< http://www.unctad.org/en/docs/diaeed20101_en.pdf >
UNCTAD's World Investment Prospects Survey 2010–2012, UNCTAD, (available online, pdf version, 492 KB, 35 pages)
UNCTAD's World Investment Prospects Survey 2010–2012 provides an outlook on future trends in foreign direct investment (FDI) by the largest transnational corporations (TNCs). The present publication is the most recent in a series of similar surveys that have been conducted regularly by UNCTAD since 1995 as part of the background work for its annual World Investment Report. The series includes International Investment: Towards the Year 2001 and International Investment: Towards the Year 2002 (UNCTAD, 1997; UNCTAD, 1998), published jointly by Arthur Andersen, Invest in France Mission and UNCTAD, as well as two UNCTAD publications entitled Prospects for Foreign Direct Investment and the Strategies of Transnational Corporations for the years 2004–2007 and 2005–2008 respectively (UNCTAD, 2004; UNCTAD, 2005).
Accessed on 27 September < http://www.unctad.org/en/docs/diaeia20104_en.pdf >
DAC Policy Statement on Biodiversity, OECD (available online, pdf version, 574.28 KB, 4 pages)
Policy Statement on Integrating Biodiversity and Associated Ecosystem Services into Development Co-operation outlines 30 key actions that international donors can undertake to halt to loss of biodiversity associated ecosystems. OECD Development Assistance Committee endorsed the Policy Statement on 15 April , 2010. It stresses that many of the world's biodiversity-rich areas are located in developing countries, and the poor are particularly and often indirectly dependent on sound viable ecosystems for their livelihoods. Therefore, development co-operations must mainstream biodiversity and associated ecosystems all aspects of development co-operation.
Accessed on 23 September < http://www.oecd.org/dataoecd/37/52/46024461.pdf >
Information is taken mainly from secondary
sources and UNESCAP accepts no responsibility
for its accuracy. Mention of any companies
and their products does not imply endorsement
by the United Nations.
employed and the presentation of the material
in this publication do not imply the expression
of any opinion whatsoever on the part of
the Secretariat of the United Nations concerning
the legal status of any country, territory,
city or area, or of its authorities, or
concerning the delimitation of its frontiers or boundaries.
©2010 United Nations