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First East Asia Summit gathers sixteen regional leaders. ASEAN Bulletin, 14 December 2005.
The leaders of the sixteen countries of the first East Asia Summit (EAS) met in Malaysia from 12 to 14 December. Alongside the ten ASEAN Member Countries (Brunei Darussalam, Cambodia, Indonesia, Lao People’s Democratic Republic, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam) the other six EAS participating countries were Australia, China, India, Japan, the Republic of Korea and New Zealand. The summit signed the Kuala Lumpur Declaration which agreed that EAS would focus on fostering strategic dialogue and promoting cooperation in political and security issues; promoting development, financial stability, energy security, economic integration and growth, eradicating poverty and narrowing the development gap in East Asia; and promoting deeper cultural understanding and people-to-people contact. Furthermore, EAS adopted the East Asia Summit Declaration on Avian Influenza Prevention, Control and Response.
Accessed on 15 December < http://www.aseansec.org/17945.htm#Article-6 >
The Kuala Lumpur Declaration is accessible at < http://www.aseansec.org/18098.htm >,
the East Asia Summit Declaration on Avian Influenza Prevention, Control and Response is accessible at
< http://www.aseansec.org/18101.htm >

BANGLADESH
Facing up to enhanced freight tariff. The Financial Express, 3 December 2005.
The major shipping lines through which Bangladesh exports and imports merchandise have hiked their rates of ocean freight by 12 per cent. This means that the industries which import raw materials, machinery and spare parts, as well as those that export finished or semi-finished goods, will have to pay, as well as charge, more for the incoming and outgoing merchandises. The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has expressed deep concern over the impact of the decision of the shipping companies.
Accessed on 6 December
< http://financialexpress-bd.com/index3.asp?cnd=12/3/2005&section_id=5&newsid=8707&spcl=no >

CHINA
China signs tariff treatment pact with three ASEAN countries. China View, 11 December 2005.
China signed exchanges of letters on special and preferential tariff treatment with Cambodia, Lao People’s Democratic Republic and Myanmar on 11 December 2005. Effective from 1 January 2006, some categories of goods exported to China will enjoy zero-tariff treatment. The preferential policy will apply to 83 categories of goods from Cambodia, 91 categories of goods from Lao People’s Democratic Republic and 87 categories of goods from Myanmar. Since 1 January 2004 China has provided preferential tariff treatment to 335 categories of goods imported from Cambodia, 239 categories of goods from Lao People’s Democratic Republic and 133 categories of goods from Myanmar.
Accessed on 12 December < http://news.xinhuanet.com/english/2005-12/11/content_3907934.htm >

INDONESIA-MALAYSIA-THAILAND-GROWTH TRIANGLE
Five-year development road map for IMT-GT. Bernama, 11 December 2005.
Indonesia, Malaysia and Thailand agreed at a summit meeting on 11 December to have a five-year development road map for the growth triangle, involving regions of these countries to enhance regional competitiveness. The Indonesia-Malaysia-Thailand-Growth Triangle (IMT-GT) development road map will be formulated by the countries' private sectors, particularly the Joint Business Council (JBC) of IMT-GT with assistance from the Asian Development Bank and ASEAN. The summit also agreed to establish a socio-economic profile of all the 31 provinces and states in the IMT-GT, as well as a database on all transactions in trade, investment and tourism activities in the sub-region. Furthermore, they agreed to institutionalize meetings among governors, chief ministers and the private sector prior to IMT-GT ministerial meetings to address issues of common concern with their respective stakeholders. IMT-GT, set-up 12 years ago by the Heads of Governments of the three countries, aims to bring about economic progress and development to the depressed areas in the sub-regions of Southeast Asia.
Accessed on 12 December
< http://www.bernama.com.my/bernama/v3/news_business.php?id=170328 >

PAKISTAN
Prime Minister of Great Britain lobbies for trade concessions to Pakistan. The Dawn, 2 December 2005.
The Prime Minister of the United Kingdom has asked the European Union to consider a number of trade concessions and supporting aid for Pakistan, including lifting anti-dumping duties and inclusion in the generalized system of preferences (GPS) plus scheme, to help boost the country’s economy in the aftermath of the earthquake of 8 October 2005. Inclusion of Pakistan in the GPPS would help to enhance the country’s export earnings by giving tariff preferences and exemption from import duties to companies in the 25 member EU states.
Accessed on 6 December < http://www.dawn.com/2005/12/03/top11.htm >

REPUBLIC OF KOREA
Republic of Korea ratifies Singapore free trade accord. Asia Times, 2 December 2005.
The Republic of Korea ratified a free trade agreement with Singapore 16 months after the two countries have signed the pact in August 2004. The Republic of Korea will remove tariffs on 91.6 per cent of its 10,315 trade items with Singapore within 10 years. In return, Singapore will scrap tariffs on all trade items with the Republic of Korea once the accord becomes effective, as planned, in March 2006. Bilateral trade volume between the two countries stood at US$ 10.1 billion in 2004. Singapore was the Republic of Korea's seventh-largest export destination as of 2004. Last year, the Republic of Korea invested US$ 376 million in Singapore, and Singapore invested US$ 144 million in South Korea.
Accessed on 2 December < http://www.atimes.com/atimes/Korea/GL02Dg01.html >

SOUTH ASIAN FREE TRADE AREA (SAFTA)
Committee of Experts meet ends, SAFTA implementation on schedule. The Himalayan Times, 1 December 2005.
The twelfth meeting of the Committee of Experts (CoE) on South Asian Free Trade Area (SAFTA) concluded in Katmandu on 1 December with Member countries agreeing to the four outstanding issues, paving the way for the full implementation of the regional free trade area pact on 1 January 2006. The four issues were the provision of compensation to least developed countries (LDC) on immediate revenue loss for four years after the SAFTA accord comes into force; the implementation mechanism procedure for providing the compensation; technical assistance to the LDC member states for capacity building and 'regional cumulation' provision for general rules of origin, sensitive list and the product specific rule. With the implementation of the accord, the member countries of the South Asian Association for Regional Cooperation (SAARC); namely Bangladesh, Bhutan, India, Nepal, Pakistan, and Sri Lanka; will be part of SAFTA.
Accessed on 2 December
<http://www.thehimalayantimes.com/fullstory.asp?>

WORLD TRADE ORGANIZATION
Ministers agree on declaration that “puts Round back on track”. WTO, 18 December 2005.
Ministers from the Member Governments of the World Trade Organization approved a declaration that many described as significant progress both since the July 2004 “package” and after six days of intensive negotiations in Hong Kong, China. The most significant conclusions of the declaration include the agreement on 2013 as deadline for eliminating of agriculture export subsidies; an agreement on cotton; a duty-free and quota-free access for the 32 least-developed country members; and a framework for agriculture and non-agricultural market access.
Accessed on 19 December
< http://www.wto.org/english/thewto_e/minist_e/min05_e/min05_18dec_e.htm >
The Draft Ministerial Declaration is accessible at
< http://www.wto.org/english/thewto_e/minist_e/min05_e/draft_text5_e.doc >

Import tariff cuts stepped up. The Shanghai Daily, 14 December 2005.
Effective from 1 January 2006, China announced on 13 December that it will further cut import tariffs on more than 100 categories of products; including vegetable oil, raw chemicals, automobiles and parts. The tariff cut is taken to fulfill the country's tariff-reduction commitments to the World Trade Organization. China's import tariffs will remain at 9.9 per cent overall in 2006, compared with 10.4 per cent in 2004. The average import tariff will be 15.2 per cent for farm produce and 9.0 per cent for industrial goods.
Accessed on 14 December
< http://www.shanghaidaily.com/art/2005/12/14/227629/Import_tariff_cuts_stepped_up.htm >

EUROPEAN UNION
Customs: European Commission proposes a new customs environment to face globalization challenges. European Commission, 30 November 2005.
The European Commission has adopted two proposals to modernize the EU Customs Code and to introduce an electronic paper-free customs environment in the EU. The first proposal aims to simplify and streamline customs processes and procedures. The second proposal is designed to make Member states’ electronic customs systems compatible with each other; introduce EU-wide electronic risk analysis and improve information exchange between frontier control authorities; make electronic declarations the rule; and introduce a centralized customs clearance arrangement. The result should be to increase the competitiveness of companies doing business in Europe, reduce compliance costs and improve EU security.
Accessed on 1 December 2005
<http://europa.eu.int/rapid/pressReleasesAction.do?reference=IP/05/1501>

HONG KONG, CHINA
Guangdong-Hong Kong, China logistics pipelines explored. Hong Kong Information Service Department, 9 December 2005.
Hong Kong, China and Shenzhen Customs will explore the possibility of setting up logistics pipelines to tie in with the service requirements of the Pan-Pearl River Delta region. Hong Kong Customs has developed trade-facilitation strategies to shortening the clearance time for cross-boundary cargo, with a one-stop clearance service to be offered at the soon-to-be-completed Shenzhen Bay Control Point.
Accessed on 12 December
< http://www.news.gov.hk/en/category/lawandorder/051209/html/051209en08002.htm >

INDIA
Customs plans Rs 160 crore nation-wide network. CIO India, 13 December 2005.
The Central Board of Excise and Customs announced plans to connect all 540 offices in 250 cities by consolidating the IT infrastructure and applications in an effort to better serve the public. The estimated cost of the project is Rs 160 crore. It envisions combining all computing resources and application software at a state-of-the-art National Data Centre (NDC) and should be finalized by June 2006.
Accessed on 13 December < http://www.cio.in/news/viewArticle/ARTICLEID=566 >

More customs houses to adopt e-auction of unclaimed cargo. WebIndia 123, 10 December 2005.
Three more customs houses, that is Bangalore, Cochin and Mangalore, will shortly start e-auctioning unclaimed and confiscated goods to stop manipulation of their prices by syndicates and cartels. They are currently in the process of setting up websites and uploading the software and are expected to start e-auctions quickly. The major customs houses which have already conducted e-auctions successfully are Chennai, Mumbai Zone-I, Mumbai Zone-II. Under e-auction conducted every month, a wide variety of goods are put up for auction. The list of items available is published on the Internet (www.chennaicustoms.gov.in) along with details of location and photographs.
Accessed on 12 December
<http://news.webindia123.com/news/showdetails.asp?id=187291&n_date=20051210&cat=India>

PAKISTAN
Pakistan, China sign accord to cut tariff from 1 January 2005. The Daily Times, 10 December 2005.
Pakistan and China on 9 December signed an agreement to enforce the Early Harvest Programme (EHP) to reduce tariff on a number of industrial and agricultural products, starting from 1 January 2006. Under the EHP, the two countries will eliminate tariffs on about 3,000 items, in three phases until January 2008.
Accessed on 12 December
<http://www.dailytimes.com.pk/default.asp?page=2005%5C12%5C10%5Cstory_10-12-2005_pg5_1>

PHILIPPINES
Customs bureau tightens monitoring of car imports. Inquirer News Service, 2 December 2005.
The Bureau of Customs has ordered that all car imports should be subjected to stringent valuation to address smuggling of vehicles. The order removes the exemption of auto importers and assemblers belonging to the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) from valuation processes by the customs bureau. Furthermore, the Bureau of Customs announced that the old system of computing duties on car imports based on values declared by the importing car companies should be changed to stop revenue losses. The government is loses over P200 billion in annual revenue because of technical and actual smuggling. Customs is tasked to collect over P150 billion in duties this year. At the end of October, it was P 9 billion short of its target.
Accessed on 2 December
< http://money.inq7.net/topstories/view_topstories.php?yyyy=2005&mon=12&dd=02&file=11 >

TONGA
New Zealand and Australia to sort corruption in Tonga Customs. Radio New Zealand, 2 December 2005.
New Zealand and Australia have responded to a call by Tonga for help to clean up its customs service and recover at least US$ 30 million in lost duty. Millions of dollars are being lost because customs officers are unable to charge the right revenue on various items from cigarettes to cars. Accessed on 2 December
<http://www.radionz.co.nz/news/bulletins/radionz/200512020638/228f34bd>

VIET NAM
Viet Nam ups oil import duty to 10 per cent. Than Hnien News, 1 December 2005.
Viet Nam has doubled import duties on oil products to 10 per cent. This is the second hike within the past month, following the surge in global crude oil prices. The new rate will apply for leaded and non-leaded gasoline, aircraft fuel, solvent, naphtha, reformate and other oil products.
Accessed on 2 December 2005 < http://www.thanhniennews.com/business/?catid=2&newsid=10920 >

INDIA
Government to lower foreign entry barrier for FDA-compliant companies. The Economic Times, 15 December 2005.
Drug makers, who have invested in setting up manufacturing plants as per standards of the Food and Drug Administration (FDA), will get government support in securing easier entry to other big pharmaceutical markets. The Government is drawing up plans to start talks with a few countries including Japan, the second largest pharmaceutical market, for easing their drug registration norms. Two working groups with the Russian Federation and the EU already exist and are in the process of reaching an agreement on easing import registration norms.
Accessed on 16 December < http://economictimes.indiatimes.com/articleshow/1332821.cms >

JAPAN
Japan lifts two-year ban on United States, Canadian beef. Forbes, 11 December 2005.
Japan resumed imports of beef of the United States of America and Canada two years after it had imposed a ban due to concerns over the bovine spongiform encephalopathy (BSE) disease. In regard to the new imports, Japanese health experts have asked as a condition that risky parts of the animals' bodies be taken out and that only cattle up to the age of 20 months be slaughtered. Imports were banned in December 2003 after cases of BSE were discovered in the United States.
Accessed on 15 December < http://www.forbes.com/markets/feeds/afx/2005/12/11/afx2383882.html >

PAKISTAN
Pakistan wants removal of all types of trade and export subsides. Pakistan Tribune, 2 December 2005.
The Ministry of Food, Agriculture and Livestock stated that Pakistan wants elimination of all domestic support and export subsidies by the developing countries as well as the removal of tariff and non-tariff barriers for a fair market access. The Prime Minister has called on rich countries to show leadership and come up with a time table to phase out agriculture subsides that were preventing poor nations from competing with the farmer of the developed countries.
Accessed on 2 December < http://paktribune.com/news/index.php?id=127117 >

RUSSIAN FEDERATION
Cabinet favors big importers of meat. Kommersant, 2 December 2005.
The Russian Federation is amending meat import regulations. According to a draft, the changes will be in favor of big suppliers. The new regulations maintain the principle of non-tariff control over the meat import but change the rules for market players. They raise, for instance, the ban on chicken import in excess of the quota and cancel the auctions to acquire the right for beef/pork import under the tariff quotas. The reaction to the auction cancellation has been controversial: the Council’s Committee on Agrarian and Food Policy declared that this would provide for import monopolization by a narrow range of importers, from five to seven companies, which accounted for 70 per cent of meat import to the Russian Federation.
Accessed on 6 December < http://www.kommersant.com/page.asp?idr=529&id=631799 >

Russian Federation increases import quota for poultry in 2006. Itar Tass News Agency, 12 December 2005.
Effective from 1 January 2006, the Russian Federation has increased the import quota for poultry from 1.09 million tonnes in 2005 to more than 1.13 million tones in 2006. The United States will supply 841,300 tonnes of poultry in 2006 (811,900 tonnes in 2005), the European Union 220,600 tonnes (205,000 in 2005), Paraguay 5,000 tonnes (5,000 tonnes in 2005) and other countries 63,900 tonnes (68,100 tonnes in 2005). The import duty for poultry supplies under the quotas from 1 January to 31 December 2006 will be 25 per cent but no less than 0.2 euros per kilogram. Supplies above the quotas will be charged at a rate of 60 per cent but no less than 0.48 euros per kilogram.
The new regulations will become effective from January 1, 2006.
Accessed on 13 December
< http://www.itar-tass.com/eng/level2.html?NewsID=2714620&PageNum=0 >

UNITED STATES OF AMERICA
United States lifts import ban on Japanese beef. Forbes, 12 December 2005.
The United States of America lifted the ban on Japanese beef after Japan announced on 11 December to lift the ban on beef from the United States. Since 2001, the United States has imposed a ban on beef from Japan, which has found 21 cases of BSE.
Accessed on 13 December <http://www.forbes.com/home/feeds/ap/2005/12/12/ap2385498.html>

BANGLADESH
Three year roadmap for reforms in power sector adopted. The Financial Express, 1 December 2005.
Bangladesh has adopted a three-year roadmap (2006-2008) for reforms in the power sector to ensure, in phases, affordable and uninterrupted electric supply by 2020. The primary objective of the three year reform programme is to create an institutional foundation. Implementation of the roadmap will begin on 1 January 2006 and the progress will be reviewed every three months.
Accessed on 2 December
< http://www.financialexpress-bd.com/index3.asp?cnd=12/1/2005&section_id=1&newsid=8560&spcl=no >

United Kingdom to provide 57.5 million pound sterling grant for rural electrification and remittance and payments partnership project. Independent Bangladesh, 12 December 2005.
The United Kingdom will provide Bangladesh with a grant of 57.5 million pounds sterling to support two projects in rural electrification and remittance, namely 50 million for the “Rural Electrification Development Programme (REDP)” and 7.5 million for the “Remittance and Payments Partnership Project (RPP)” project.
Accessed on 12 December <http://independent-bangladesh.com/news/dec/12/12122005mt.htm>

BRUNEI DARUSSALAM
Brunei Darussalam begins to audit usage of energy. Brudirect, 15 December 2005.
Brunei Darussalam, together with ASEAN and help from Japan, has begun to visit private factories in the sultanate to evaluate the usage of electricity and promote energy conservation and efficiency. The “energy auditing” is part of the measures undertaken by the Government to cut down on electricity usage in the country as the consumption is among the highest in the region.
Accessed on 16 December
< http://www.brudirect.com/DailyInfo/News/Archive/Dec05/151205/nite02.htm >

CHINA
China-Kazakhstan pipeline starts to pump oil. China Economic Net, 16 December 2005.
The 960-km pipeline linking China and Kazakhstan began to carry oil to China on 15 December 2005. The US$ 700 million pipeline, with an initial annual capacity of 10 million tons and full capacity of 20 million tons, was built by a joint venture between China and Kazakhstan, with construction starting in September 2004. The pipeline starts in the central Kazakh town of Atasu and runs to the Altaw Pass in northwestern China. By 2011, when it reaches full capacity, the pipeline is expected to be used to ship oil from Russian Federation’s western Siberia.
Accessed on 16 December
< http://en.ce.cn/Industries/Energy&Mining/200512/16/t20051216_5538307.shtml >

INDIA
India-United States of America to forge high-tech global partnership. New Kerala, 2 December 2005.
India and the United States have agreed on the importance of forging a global partnership in the field of high technology. In the fourth meeting of the United States-India High Technology Co-operation Group (HTGC), the two sides agreed to take concrete steps to make the HTGC more result-oriented. The meeting had sessions on strategies aimed at increasing bilateral trade in defence technology, information technology, biotechnology and nanotechnology. It was agreed to expand the public-private partnership, evolve strategies to ensure that licensing could become more effective, transparent and predictable for India, and to focus on key trade sectors that are affected by tariff and non-tariff trade barriers. They also agreed to a detailed action plan that will further promote high-tech cooperation.
Accessed on 2 December < http://www.newkerala.com/news.php?action=fullnews&id=59594 >

India: IICT take mantle of promoting Kashmiri handicrafts. Fibre2Fashion, 6 December 2005.
To give a boost to Kashmiri handicrafts, the Indian Institute of Carpet Technology (IICT) has introduced a carpet-designing programme. Moreover, government has established a Craft Development Institute, a satellite Centre of IICT, which would become a full-grown carpet university.
Accessed on 6 December 2005
< http://www.fibre2fashion.com/news/daily-textile-industries-news/newsdetails.aspx?news_id=9403 >

LAO PEOPLE’S DEMOCRATIC REPUBLIC
Lao People’s Democratic Republic, Chinese investors herald telecom revolution. Vientiane Times, 5 December 2005.
The Economic Development Committee of the Lao People’s Democratic Republic and two investors from China have agreed on a project that will start infrastructure construction in telecommunication, with state-of-the-art technology in cable television, Internet access and access to worldwide telephone networks. The project is expected to cost US$ 1 billion with 45 per cent shared by the two Chinese investors. The investment agreement is for 40 years. The project will build four headquarters nationwide and employ 3,000 to 5,000 local people.
Accessed on 6 December < http://www.vientianetimes.org.la/Business/Business_laochina.htm >

E-governance infrastructure in place. Vientiane Times, 2 December 2005.
E-governance in Lao People’s Democratic Republic is poised to take off following the handing over of the Lao People’s Democratic Republic-Republic of Korea E-Government Centre on 29 November 2005. The centre was built as part of an ASEAN integration initiative agreed upon at the ASEAN Plus 3 Summit in November 2002. The project aims at strengthening the Lao People’s Democratic Republic human and institutional capacity through the establishment of the centre and the demonstration of its functioning.
Accessed on 6 December <http://www.vientianetimes.org.la/Current/Current_egovernment.htm>

MYANMAR
Thailand, Myanmar ink contract-farming pact. MCOT, 4 December 2005.
Thailand and Myanmar have singed a Memorandum of Understanding (MoU) which clarifies that Thai contract farmers will get access to 44 million rais (7 million hectares) of arable land in Myanmar. The MoU aims at meeting the demand for high crop yield in Thailand while creating employment in Myanmar. The two countries hope to begin the project next year. A number of Thai companies will be selected by the Government of Thailand to invest in crops for which there is unmet local demand in Thailand, such as corn, rubber, sugarcane, tapioca and palm oil. The MoU is in line with the Bangkok Declaration on Cooperation concluded at last month's summit of the Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS). Thailand is seeking to conclude similar contract-farming agreements with the other three ACMECS members, namely Cambodia, Lao People’s Democratic Republic and Viet Nam.
Accessed on 6 December < http://etna.mcot.net/query.php?nid=4917 >

SRI LANKA
Islamic Republic of Iran, Sri Lanka to explore oil and gas deal. Daily News, 1 December 2005.
The Islamic Republic of Iran and Sri Lanka convened on 31 November to discuss how the Islamic Republic of Iran could provide petroleum and gas on a concessionary basis to Sri Lanka. The talks also focused on providing further assistance in navigation, telecommunications, culture, internal air transport and tourism. Furthermore, both countries agreed to collaborate in higher and university education.
Accessed on 6 December < http://www.dailynews.lk/2005/12/01/news01.htm >

VIET NAM
US$ 700,000 for Viet Nam's agricultural development. Viet Nam News Agency, 5 December 2005.
Japan will provide US$ 700,000 worth of non-refundable technical assistance for Viet Nam to intensify its management over the agricultural promotion and research system. The funding will help Viet Nam to improve the national agricultural science-technology system and draw out new operation and management regulations for the national science-technology council, as well as agricultural promotion advisory councils in localities. The funding will also be used for agricultural research, promotion, evaluation and supervision.
Accessed on 6 December
<http://www.vnagency.com.vn/NewsA.asp?LANGUAGE_ID=2&CATEGORY_ID=30&NEWS_ID=177614>

ASIAN DEVELOPMENT BANK
Helping to improve urban infrastructure in Sri Lanka towns. ADB, 5 December 2005.
The Asian Development Bank (ADB) has approved a US$ 50 million loan to help improve urban infrastructure facilities and basic urban services in at least 68 towns in Sri Lanka. More than US$ 42 million will be made available to local authorities as part grant and part loan through the Local Loans and Development Fund (LLDF). The idea is to have the local authorities identify and design projects to improve their basic infrastructure and services delivery, and then apply for finance from LLDF. Qualified projects cover community water supply, local authority roads, drainage and community sewerage, solid waste management, and basic health clinics, public libraries and recreational parks.
The project represents a shift in ADB’s approach from supply-driven central government-led investment to a more decentralized approach of providing local authorities with the decision-making role.
Accessed on 6 December < http://www.adb.org/Media/Articles/2005/8927_sri_lanka_adb/default.asp >

CHINA
China vows further forex, capital account reform. Channel News Asia, 5 December 2005.
China has pledged to carry out further reforms to the yuan renminbi, reiterating that it will loosen regulations on its tightly restricted capital. The central bank said it would guide reasonable capital outflows and improve the management of capital inflows. The next step would be to deepen the flexibility of the yuan renminbi in the currency's exchange rate system and perfecting it based on demand and supply, in accordance with China’s economic development and reform needs.
Accessed on 6 December
< http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/182024/1/.html >

MALAYSIA
Corporate governance body to launch rating service. Business Times, 1 December 2005.
Malaysia will introduce a service to rate a company’s efforts in promoting corporate governance, applying international criteria that will allow benchmarking against international ratings on corporate governance as well as suit Malaysian conditions. Among the criteria are Malaysia’s affirmative action as well as risk management on decision-making, technology and people. The corporate governance rating will cover listed companies as well as non-listed companies, including foreign banks. Companies that have their corporate governance rated stand to attract interests from foreign investors as the ratings indicate the companies’ transparency.
Accessed on 2 December
< http://www.btimes.com.my/Current_News/BT/Thursday/Nation/20051130235927/Article/ >

PAKISTAN
Pakistan, United States agree to bilateral investment agreement. Bilaterals, 1 December 2005.
Pakistan and United States have agreed over a mutual investment agreement that will smoothen the way for talks on a Free Trade Agreement between the two countries. The investment agreement aims to provide stability to the economy of Pakistan, new investment opportunities to investors and boost joint efforts against terrorism.
Accessed on 2 December < http://www.bilaterals.org/article.php3?id_article=3151 >

Government striving to simplify investment procedure in power sector to attract investors. Pakistan Tribune, 14 December 2005.
At the 59th meting of the Private Power and Infrastructure Board (PPIB), the Minister for Water and Power stated that the Government of Pakistan would make efforts to further simplify the procedures for investors to attract more investment in the power sector. The meeting reviewed and considered a standards security package/legal agreement to be used for implementation of projects which will provide basic structure for rights and obligations of the private sector power producers, power purchaser, fuel supplier and the Government of Pakistan. The approval of these agreements will set the pace for quick implementations of about 47 private power projects under process with PPIB with a total capacity of over 12,000 MW and estimated investment of US$ 2 billion.
Accessed on 14 December < http://paktribune.com/news/index.php?id=128283 >

PHILIPPINES
ADB approves US$ 150 million microfinance loan to Philippines. Inq7, 15 December 2005.
The Asian Development Bank (ADB) announced approval of a 150 million dollar loan to improve access of the poor to financial services in the Philippines. The project will relax bank regulations and promote the use of mobile telephones for low-cost money transfers and payments. The central bank will introduce new financial products and improve the regulatory environment for the country's more than 4,500 savings and credit cooperatives. The 15-year loan, which carries market rates, will also help the Government prepare a privatization plan and divestment options for Philippine Postal Savings Bank.
Accessed on 16 December 2005
< http://money.inq7.net/topstories/view_topstories.php?yyyy=2005&mon=12&dd=15&file=4 >

TURKEY
Euro 250 million credit line to benefit small and medium-sized enterprises. EIB, 9 December 2005.
The European Investment Bank is lending, to five national banks of Turkey, a total of 250 million euro to enable small and medium-sized enterprises (SMEs) to gain access to more finance. The local banks will use the loan to on-lend to SMEs, giving them access to funding on attractive terms. The loan will be available across the whole of the country to finance projects in the industry, tourism and services sectors, including health and education.
Accessed on 16 December < http://eib.eu.int/news/press/press.asp?press=3040 >

VIET NAM
National Assembly adopts Investment Law. Viet Nam News Agency, 29 November 2005.
The National Assembly (NA) of Viet Nam unanimously adopted the Investment Law at its session in Ha Noi on 29 November 2005. With regulations on sensitive matters of investment and business in Viet Nam, the Investment Law had been one of the drafts put under most careful discussion and scrutiny with opinions gathered from the largest number of people so far. In addition to gathering opinions from the Vietnamese and foreign investors' community during the drafting period. Regulations on procedures for investment licensing have been clearly defined for domestic and foreign investment projects to ensure the transparency and feasibility of the law. The Investment Law, with 10 chapters and 89 articles, and the Enterprise Law will take effect at the same time on 1 July 2006, are expected to markedly contribute to raising the attractiveness of Viet Nam's investment environment.
Accessed on 30 November
<http://www.vnagency.com.vn/NewsA.asp?LANGUAGE_ID=2&CATEGORY_ID=29&NEWS_ID=176799 >

Viet Nam and Lao People’s Republic reach banking deals. Viet Nam Net Bridge, 1 December 2005.
The Bank of Investment and Development of Viet Nam (BIDV) and the Bank of Foreign Trade of the Lao People’s Democratic Republic (BFTL) have agreed to extend their co-operation term to another three years until 2008. The agreement calls for further bilateral cooperation in personnel training, especially in information technology, and in providing credits for successful Vietnamese businesses in Lao People’s Democratic Republic. BIDV pledged to supply the Lao People’s Democratic Republic with one automatic teller machine (ATM) for free every year. The two banks also contributed to the successful operation of the Laos-Vietnam Bank (LVB), which has managed to increase its deposits by 860 per cent over the past six years to some US $86 million. The LVB is the only bank conducting the exchange of Vietnamese dong and Lao new kips in service of businesses from the two countries.
Accessed on 2 December < http://english.vietnamnet.vn/biz/2005/12/518025/ >

Read the full report from the Morning Call:
< http://www.mcall.com/business/local/all-wto-sidedec11,0,5893802.story?coll=all-businesslocal-hed >
Accessed on 12 December 2005.

… Singapore and China signed an expanded aviation pact?
Singapore and China have signed an expanded air services pact which allows airlines of both countries to operate passenger and all-cargo services between China and Singapore with no restrictions on capacity, routing or aircraft type.

Read the full report from Channel News Asia:
< http://www.channelnewsasia.com/stories/singaporebusinessnews/view/181405/1/.html >
Accessed on 1 December 2005.

…Thai corruption worsens, China’s improves?
Multinationals perceive that corruption is getting worse in the Philippines and Thailand but is declining elsewhere in Asia. According to a survey by a Hong Kong-based think-tank, China is making the most progress.

Read the full report from Reuters:
<http://today.reuters.com/business/newsArticle.aspx?type=ousiv&storyID=2005-12-05T102748Z_01_HO537649_RTRIDST_0_BUSINESSPRO-CRIME-ASIA-CORRUPTION-DC.XML>
Accessed on 6 December 2005.

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