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Welcome to E-TISNET Monthly News to
keep you abreast of the latest developments
on trade and investment in the Asia-Pacific
region.
E-TISNET Monthly News is the new electronic
and user-friendly version of five sections
of the former TISNET Trade and Investment
Information Bulletin (see below). This
issue can be also accessed from UNESCAP's
web page, at http://www.unescap.org/tid/latestnews.asp
Past issues are available from http://www.unescap.org/tid/tisnet/tis_bul.asp
For enquiries, please contact us at escap-tisnet@un.org
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A. TRADE-RELATED
INFORMATION
AUSTRALIA
Trade agreement with the United States
of America. Australia Department
of Foreign Affairs and Trade, 8 February
2004
On 8 February 2004, Australia and the United
States of America signed a free trade agreement.
The agreement includes duty-free access
for over 97 per cent of Australia's manufacturing
exports to the United States; improved access
for Australia's agricultural sector; full
access for Australian goods and services
to the United States market; and enhanced
legal protection to guarantee market access
and non-discriminatory treatment for Australian
service providers in the United States market.
Last accessed on 10 February 2004 from
<http://www.dfat.gov.au/trade/negotiations/us.html>
BIMST-EC
Six Asian countries sign an agreement
for free trade area. Indian Ministry
of Commerce,
12 February 2004
On 8 February 2004, Bhutan, Myanmar, India,
Sri Lanka, Thailand and Nepal signed the
Framework Agreement on the BIMST-EC Free
Trade Area (FTA) intended to strengthen
economic, trade and investment cooperation
among the countries to progressively liberalize
trade in goods and services and create
a transparent and facilitative investment
regime. The Agreement will come into force
on 30 June 2004 and aims to create a free
trade area by 2017.
Last accessed on 16 February 2004 from
<http://commerce.nic.in/Feb04_release.htm#h6>
PAKISTAN
Agreement with the EU for trade-related
technical assistance. EU Press
Release IP/04/241,
19 February 2004
On 18 February 2004, Pakistan and the
European Union (EU) signed a US$ 8.1 million
agreement to finance a 3-year co-operation
programme on trade-related technical assistance.
The programme has three main components:
1) build the capacity of Pakistan stakeholders
in WTO trade negotiations; 2) increase
export competitiveness of key sectors
by improving Pakistan structure on standards
and quality control; 3) provide support
in the field of intellectual property
rights (IPR) and upgrade the relevant
IPR institutes in Pakistan.
Last accessed on 23 February 2004 from
<http://europa.eu.int/rapid/start/cgi/guesten.ksh?p_action.gettxt=gt&doc=IP/04/241|0|RAPID&lg=EN>
Transit trade with Afghanistan enhanced.
Pakistan Business Recorder, 25 February
2004
The Government of Pakistan has announced
that it will allow 14 more items to pass
through the country under Afghan transit
trade. The 14 items that will be deleted
from the negative list are: air conditioners;
art silk fabrics; black tea; capacitors;
cigar and cheroots; dyes and chemicals;
PVC and PMC material; razor and shaving
blades; refrigerators; shampoo; soaps;
vegetable ghee; video cassettes; and yarns.
Last accessed on 26 February 2004 from
<http://www.brecorder.com/story.php?id=108995&currPageNo=7&query=&search=&term=&supDate=>
REPUBLIC OF KOREA
Free trade accord with Chile. Republic
of Korea Ministry of Foreign Affairs and
Trade,
25 February 2004
On 16 February 2004, the Republic of Korea
approved the Korea-Chile Free Trade Agreement
(FTA), which will enter into force on
1 April 2004. Presence of Korean export
items in Chile, such as automobiles and
cellular phones, will be reinforced upon
the entry into force of the FTA with the
immediate removal of tariffs on these
products. With this agreement, the Korean
Government expects to secure a gateway
into the Latin American market, which
accounts for half of Korea's trade surplus.
Last accessed on 26 February 2004 from
<http://www.mofat.go.kr/en/press/e_info_view1.mof?b_code=~events&seq_no=1976&num=851&row_num=1&t_row=851>
THAILAND
U.S. notifies intent to initiate FTA
negotiations with Thailand. Office
of the United States Trade Representative,
12 February 2004
The Government of the United States of
America formally notified the Congress
of its objectives and goals for negotiations
of a free trade agreement (FTA) with Thailand.
As stipulated in the trade promotion legislation,
negotiations may now begin in 90 days.
The United States is one of the largest
suppliers of agricultural products to
the Thai market, which was the 16th largest
market for farm exports from the United
States in 2002.
Last accessed on 26 February 2004 from
<http://www.ustr.gov/releases/2004/02/04-10.pdf>
TRADE AND ENVIRONMENT
New documentation requirements for
trade in GMOs. United Nations
Environment Programme, 27 February
2004
The 87 member States of the Cartagena
Protocol on Biosafety have adopted documentation
requirements and other procedures for
trade in living (or genetically) modified
organisms (known as LMOs, or GMOs). Under
the new system, all bulk shipments of
genetically engineered crops intended
for food, feed or processing are to be
identified as “may contain LMOs”.
The accompanying documentation should
also indicate the contact details of the
importer, exporter or other appropriate
authority.
Last accessed on 27 February 2004 from
<http://www.unep.org/Documents.Multilingual/Default.asp?DocumentID=383&ArticleID=4373&l=en>
Trade and environment convention enters
into force. FAO News, 24
February 2004
On 24 February 2004, the Rotterdam Convention
on the Prior Informed Consent (PIC) Procedure
for Certain Hazardous Chemicals and Pesticides
in International Trade became international
law thus legally binding its members.
The Convention enables countries to decide
which potentially hazardous chemicals
they want to import and to exclude those
they cannot manage safely. Additional
requirements for labelling and providing
information on potential health and environmental
effects aim to promote the safer use of
chemicals.
Last accessed on 27 February 2004 from
<http://www.fao.org/newsroom/en/news/2004/37667/index.html>
SOLOMON ISLANDS
Fisheries agreement with the EU.
EU Press Release IP/04/163, 4
February 2004
Effective from 1 January 2005, the EU
and the Solomon Islands have signed a
bilateral Fisheries Agreement for an initial
period of three years. This agreement
provides exclusive fishing possibilities
for tuna to EU vessels fishing in the
waters of the Solomon Islands. It also
establishes a partnership between the
two countries to define a fisheries policy
in the Solomon Islands and identify the
appropriate means to implement it.
Last accessed on 11 February 2004 from
<http://europa.eu.int/rapid/start/cgi/guesten.ksh?p_action.gettxt=gt&doc=IP/04/163|0|RAPID&lg=EN&display=>
B. CUSTOM REGULATIONS AND CHARGES
EUROPEAN UNION (EU)
Import duties in the rice sector.
Official Journal of the European Union,
19 January 2004
With effect from 20 January 2004, the EU
approved commission regulation (EC) No.
286/2004 fixing the import duties in the
rice sector.
Last accessed on 20 February 2004 from
<http://europa.eu.int/eur-lex/pri/en/oj/dat/2004/l_049/l_04920040219en00320034.pdf>
Import duties in the sugar sector.
Official Journal of the European Union,
19 February 2004
With effect from 20 February 2004, the
EU approved commission regulation (EC)
No. 289/2004 fixing the representative
prices and the additional import duties
for molasses in the sugar sector.
Last accessed on 20 February 2004 from
<http://europa.eu.int/eur-lex/pri/en/oj/dat/2004/l_050/l_05020040220en00030004.pdf>
NEW ZEALAND
New export clearance rules. New
Zealand Customs, 19 February 2004
Effective from 1 March 2004, no goods
will be loaded for export in Australia
without an electronic customs delivery
order. The measure is intended to provide
an acceptable level of assurance over
the security of goods exported from or
moving through New Zealand.
Last accessed on 23 February 2004 from
<http://www.customs.govt.nz/about/news/new+rules+for+exports+200204.asp>
PAKISTAN
New mechanism to expedite import procedures.
Pakistan Business Recorder, 26
February 2004
The Government of Pakistan has launched
a green channel for custom examination
procedures. The new system is based on
a compiled 'indicative price list' of
import goods. Importers will now have
the option to pay duties and taxes as
per value determined through an 'indicative
price' of goods and such goods would be
cleared through green channel without
involvement of custom officials.
Last accessed on 26 February 2004 from
<http://www.brecorder.com/story.php?id=109752&currPageNo=2&query=&search=&term=&supDate=>
PHILIPPINES
Duties on imported vehicle used-parts
reduced. U.S.-ASEAN Business Council,
20 February 2004
The Government of Philippines has approved
guidelines for implementing Executive
Order 243, which provides for reduction
or suspension during six months of import
duties on used automotive parts, such
as compressors and inner tubes.
Last accessed on 23 February 2004 from
<http://www.us-asean.org/headlines.asp>
SRI LANKA
e-Services for custom clearance.
Sri Lanka Daily News, 17 February
2004
Starting 1 May 2004, the Government of
Sri Lanka has announced the launch of
e-service bureaus to facilitate individual
Custom House Agents (CHA) to submit customs
documents electronically. The new services
are part of the Automated Cargo Clearing
System. Bureaus will be set up in Colombo,
Kandy Kurunegala, Matara, Trincomalee
and Galle.
Last accessed on 19 February 2004 from
<http://www.dailynews.lk/2004/02/17/bus15.html>
VIET NAM
New tariffs on liquor and motorbikes
from the EU. Viet Nam Ministry
of Foreign Affairs,
16 February 2004
On 12February 2004, the Government of
Viet Nam enacted Decision No.17/2004/QD-BTC
on the import tariffs applied to liquor
and motorbikes originating from the European
Union (EU). Revised import tariff rates
of 80 and 70 per cent will be applied
to liquor products and motorbikes respectively.
Imported goods must be accompanied by
a certificate of origin granted by EU
members and a bill of lading showing they
were shipped from an EU port.
Last accessed on 24 February 2004 from
<http://www.mof.gov.vn/DefaultE.aspx?tabid=356&ItemID=6783>
C. NON-TARIFF MEASURES
CHINA
New identification measures to fight
piracy. China Ministry of Commerce,
10 February 2004
With effect from 15 February 2004, the Government
of China introduced new identification measures
on audio and video products using special
biological DNA printing ink to help consumers
and inspectors identify authentic goods
and fakes. Other new identification technologies
included stealth bar codes and handwritten
characters.
Last accessed on 24 February 2004 from
<http://english.mofcom.gov.cn/article/200402/20040200179612_1.xml>
EUROPEAN UNION (EU)
Amendment of import rules of certain
textiles products from third countries.
Official Journal of the European Union,
19 February 2004
With effect from 7 February 2004, the
EU approved commission regulation (EC)
No. 260/2004 amending Annexes I, III,
V and VII to Council Regulation (EEC)
No 3030/93 on common rules for imports
of certain textile products from third
countries.
Last accessed on 23 February 2004 from
<http://europa.eu.int/eur-lex/pri/en/oj/dat/2004/l_051/l_05120040220en00010052.pdf>
Anti-dumping duty on imports of sulphanilic
acid originating in China and India.
Official Journal of the European Union,
10 February 2004
With effect from 11 February 2004, the
EU approved commission regulation (EC)
No. 236/2004 amending Regulation (EC)
No 1339/2002 and imposing a definitive
anti-dumping duty and collecting definitively
the provisional duty imposed on imports
of sulphanilic acid originating in China
and India.
Last accessed on 23 February 2004 from
<http://europa.eu.int/eur-lex/pri/en/oj/dat/2004/l_040/l_04020040212en00170020.pdf>
Quantitative quotas on certain products
originating in China. Official
Journal of the European Union, 6
February 2004
With effect from 7 February 2004, the
EU approved commission regulation (EC)
No. 215/2004 establishing the quantities
to be allocated to importers from the
second tranche of the 2004 Community quantitative
quotas on certain products originating
in China. Products covered are footwear,
tableware, kitchenware of porcelain or
china, ceramic tableware, kitchenware,
and other household articles and toilet
articles other than of porcelain or china.
Last accessed on 11 February 2004 from
<http://europa.eu.int/eur-lex/pri/en/oj/dat/2004/l_036/l_03620040207en00100012.pdf>
Transfers between the quantitative
limits of textiles and clothing products
originating in Macao. Official
Journal of the European Union, 16
February 2004
With effect from 17 February 2004, the
EU approved commission regulation (EC)
No. 271/2004 authorizing transfers between
the quantitative limits of textiles and
clothing products originating in Macao.
Last accessed on 23 February 2004 from
<http://europa.eu.int/eur-lex/pri/en/oj/dat/2004/l_046/l_04620040217en00280029.pdf>
UNITED STATES OF AMERICA
GSP product and country practice review.
Office of the United States Trade
Representative, 24 February 2004
The Government of the United States has
released the product and country practice
petitions that were accepted for further
review in the 2003 GSP Annual Review.
Additionally, the schedule for comment
and public hearing on these petitions,
as well as on certain product petitions
from previous reviews on which there was
a deferral of decisions, has been established.
Last accessed on 27 February 2004 from
<http://a257.g.akamaitech.net/7/257/2422/14mar20010800/edocket.access.gpo.gov/2004/pdf/04-3868.pdf>
VIET NAM
New fees for garments exported to the
EU and the U.S.. Viet Nam Ministry
of Foreign Affairs, 16 February 2004
On 12 February 2004, the Government of
Viet Nam published Decision No.16/2004/QD-BTC
on the issuance of fees for quotas of
textile-garment commodities exported to
the European Union (EU) and the United
States of America. Accordingly, for exports
to the EU there will be 9 levels of charges
applied for 9 categories of goods, ranging
form two hundred dong to one thousand
dong per unit or pack, and 800 thousand
dong per ton. For commodities exported
to the United States there will be 25
levels of fees applied for 25 types of
goods, at a lowest level of 0 dong and
highest one of eight thousand dong per
dozen or kilogram.
Last accessed on 24 February 2004 from
<http://www.mof.gov.vn/DefaultE.aspx?tabid=356&ItemID=6765>
D. INDUSTRY AND TECHNOLOGY-RELATED INFORMATION
CHINA
Tourism agreement with the EU. EU
Press Release, 12 February 2004
On 12 February 2004, China and the European
Union signed a memorandum of understanding
(MoU) on visa and related affairs concerning
Chinese tourist groups traveling to the
European Union. Chinese tourists going through
selected travel agencies will benefit from
simplified and facilitated procedures to
apply for tourist visas from the Member
States of the EU which have been granted
"Approved Destination Status"(ADS)
by China, that is, the 12 Schengen States.
Last accessed on 13 February 2004 from
<http://www.delchn.cec.eu.int/en/whatsnew/mou_291003_en.pdf>
Forestation and paper making programme.
World Business Council for Sustainable
Development, 18 February 2004
The Chinese government has approved a
national plan for building a complete
industrial chain between the forestation
and paper making sectors by 2010. The
plan invites foreign investment in a forestation
and paper making program that is expected
to involve Yuan 200 billion (US$ 24 billion)
of funds over one decade.
Last accessed on 20 February 2004 from
<http://www.wbcsd.org/includes/getTarget.asp?type=DocDet&id=4066>
EUROPEAN UNION (EU)
Agreement on environmental liability.
EU Press Release IP/04/246, 20
February 2004
On 20 February 2004, the European Commission
welcomed the agreement on the Environmental
Liability Directive adopted by the European
Parliament and the Council. The agreement
will enable the proposed Directive to
be promptly adopted. The new Directive
is the first EU law specifically based
on the "polluter pays principle".
Last accessed on 23 February 2004 from
<http://europa.eu.int/rapid/start/cgi/guesten.ksh?p_action.gettxt=gt&doc=IP/04/246|0|RAPID&lg=EN>
INDIA
New policy on auto fuel emissions.
Tech Monitor, January-February
2004
The Government of India has issued new
guidelines to control auto fuel emissions
and curb air pollution. The Government
has set April 2010 as the deadline to
ban the sale of automobiles that do not
conform to Euro-III emission norms stipulated
by the European Union. However, 11 major
cities, including New Delhi, have to fulfil
the Euro-III benchmark by April 2005.
Last accessed on 23 February 2004 from
<http://www.techmonitor.net/techmon/04jan_feb/was/was_news.htm#cgt>
MALAYSIA
European Commission to promote IT research
and networking. U.S.-ASEAN Business
Council, 30 January 2004
The European Commission has earmarked
10 million euros (US$ 12.4 million) to
strengthen its IT research network in
South East Asia with Malaysia as the hub
for the research network involving universities
and research centres in the country. The
network will be connected to Malaysia
Research and Education Network (MYREN)
and will enable European and Malaysian
organizations to run joint projects and
activities.
Last accessed on 5 February 2004 from
<http://www.us-asean.org/headlines.asp>
PHILIPPINES
Energy agreement with Thailand signed.
U.S.-ASEAN Business Council,
18 February 2004
On 18 February 2004, Philippines and Thailand
signed an agreement to promote bilateral
cooperation in the energy sector, particularly
in maximizing the use of existing oil
storage facilities to boost energy security
in the region. Under the agreement, the
two countries will study and explore ways
to optimize the use of existing storage
facilities.
Last accessed on 23 February 2004 from
<http://www.us-asean.org/headlines.asp>
SRI LANKA
Agreement to promote SMEs with India.
The Sunday Observer, 8 February
2004
On 27 January 2004, Sri Lanka signed an
industrial cooperation agreement with
India to develop the small and medium
enterprises (SME) and boost the industrial
sector of both countries. Under the Indo-Lanka
Industrial Co-operation agreement, potential
industrial surveys and feasibility studies
will be conducted to identify areas and
opportunities for the development of small
scale industries in Sri Lanka.
Last accessed on 13 February 2004 from
<http://www.sundayobserver.lk/2004/02/08/bus11.html#>
THAILAND
ADB supports private power generation.
Asian Development Bank, 5 February
2004
On 4 February 2004, ADB launched a US$
1.37 billion power project in Rayong Province
(Thailand) to help meet the country's
need for reliable energy and diversification
of energy sources. The commitment includes
loans amounting up to US$ 140 million
and a political risk guarantee of up to
US$ 70 million for offshore co-financing.
Last accessed on 13 February 2004 from
<http://www.adb.org/Documents/News/2004/nr2004015.asp>
UNITED NATIONS CONFERENCE ON
TRADE AND DEVELOPMENT (UNCTAD)
New guidelines on corporate environmental
accounting. UNCTAD PRESS/IN/2004/005,
13 February 2004
On 13 February 2004, UNCTAD released new
guidelines on eco-efficiency indicators
which link the environmental performance
of corporations to their financial performance.
The guidelines are in the form of a Manual
for the Preparers and Users of Eco-efficiency
Indicators which is one of the first publications
in the field of corporate environmental
accounting to standardize the presentation
and disclosure of a company’s environmental
performance and how this relates to financial
results.
Last accessed on 13 February 2004 from
<http://www.us-asean.org/headlines.asp>
E. INVESTMENT-RELATED INFORMATION
CHINA
New derivatives trading regulation.
China Ministry of Commerce, 6 February
2004
On 4 February 2004, the Government of China
published a provision on the trading of
derivative products by financial institutions,
which will become effective on 1 March 2004.
The provision sets the definitions and classifications
of the trading business of derivatives,
the benchmark for market access, as well
as the requirements for risk control and
supervision of trading.
Last accessed on 13 February 2004 from
<http://english.mofcom.gov.cn/article/200402/20040200178334_1.xml>
New forms for registration and business
transformation of FIEs. China
Investment Promotion Agency, 12 February
2004
The Government of China has amended the
requirements on foreign-invested enterprises
(FIEs) for registration and business transformation.
The amendments include a new set of forms
for FIE establishment, transformation
and request for cancellation. New forms
have also been issued for applications
to open, transform and close both permanent
representations as well as representative
offices of FIEs in China.
Last accessed on 13 February 2004 from
<http://www.fdi.gov.cn/common/info.jsp?id=ABC00000000000012934>
Preferential tax policies for agricultural
products. China Investment Promotion
Agency,
12 February 2004
The Government of China has promulgated
preferential tax policies on agricultural
products to boost economic development
in rural areas. The measures include an
increase of the thresholds for levying
VAT and sales tax on individual and private
businesses and private distributors of
agricultural products, as well as exemptions
of personal income tax upon individual
or private businesses engaged in planting,
animal husbandry, livestock and poultry
farming, and fishery.
Last accessed on 13 February 2004 from
<http://www.fdi.gov.cn/common/info.jsp?id=ABC00000000000012932>
INDIA
ADB to boost public sector infrastructure
projects. Economic Times,
28 February 2004
The Asian Development Bank (ADB) has announced
the investment of US$1.7 billion in Indian
public sector projects in 2004. The US$1.7
billion will be disbursed to a wide range
of projects across the country including
around U$350 million in the National Highways
Authority of India, US$300 million for
a clean fuel programme for Gail, US$200-250
million in an urban development project
in Kerala, US$150 million fiscal consolidation
project in Assam, US$40 million in an
irrigation project in Chattisgarh and
US$ 300 millon for a power project in
Madhya Pradesh.
Last accessed on 1 March 2004 from
<http://economictimes.indiatimes.com/articleshow/525302.cms>
THAILAND
Tax incentives to boost investment
in southern provinces. U.S.-ASEAN
Business Council,
28 January 2004
The Government of Thailand has announced
temporary tax exemptions and special privileges
to promote investment in the three southern
provinces of Pattani, Yala and Naratiwat,
particularly in the agri-industrial sector.
Privileges include tax exemptions applied
to all imported machineries for improving
capacity or replacing outdated machinery.
Additionally, personal income tax exemptions
will be applied to three zones.
Last accessed on 11 February 2004 from
<http://www.us-asean.org/headlines.asp>
SRI LANKA
New integrated software systems for
financial transactions. Sri Lanka
Sunday Observer,
22 February 2004
The Central Bank of Sri Lanka has introduced
two integrated software systems- Real
Time Gross Settlement (RTGS) and Scripless
Security Settlement System (SSSS) - to
expedite and streamline all financial
transactions. The systems are intended
to assist market participants such as
primary dealers, banks and investors,
as well as to promote financial discipline
in the banking sector.
Last accessed on 23 February 2004 from
<http://www.sundayobserver.lk/2004/02/22/bus12.html>
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.
The designations
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.
©2004 United Nations
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ISSUE
3/2004