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AZERBAIJAN
Azerbaijan to join WTO this year. Azertac, 5 February 2006.
The Ministry of Economic Development of Azerbaijan has announced that the country would step up its efforts in working towards being recognized as a market economy. To increase competitiveness capacity of the goods in foreign markets, special attention will be paid to promoting leading sectors of the economy, with the state taking a more active part in that process. The negotiations with the World Trade Organization (WTO) have now entered a decisive phase; Azerbaijan expects to join the WTO this year.
Accessed on 6 February < http://www.azertag.com/en/index.shtml? >

MYANMAR
Myanmar to use euros for border trade with India and China. Hindustan Times, 6 February 2006.
Myanmar will introduce the euro in place of the United States dollar for border trade with neighboring countries including India and China. The Government announced that United States dollar accounts of merchants would be closed and substituted with euro accounts. This move is a result of a decision taken in 2003, when Myanmar decided that government organizations and private enterprises should use euros in place of United States dollars for international business transactions.
Accessed on 8 February < http://www.hindustantimes.com/news/181_1618348,00020008.htm >

NEW ZEALAND
Government moves on trans-Pacific free trade agreement. Stuff, 22 February 2006.
The Ministry of Trade has introduced a bill to Parliament that will pave the way for the four-way free-trade agreement between Brunei Darussalam, Chile, New Zealand and Singapore. The four countries have signed the agreement - the Trans-Pacific Strategic Economic Partnership - but New Zealand must now meet its requirements before it can be ratified by Parliament. One requirement is changes to the schedule of tariffs to allow reductions for Chile and Singapore. Exports between New Zealand and Singapore are already tariff free under an existing agreement.
Accessed on 22 February < http://www.stuff.co.nz/stuff/0,2106,3579859a13,00.html >

PAKISTAN
Five accords inked with Saudi Arabia: King of Saudi Arabia assures all-out support. Business Recorder, 3 February 2006.
Pakistan and Saudi Arabia met to discuss various issues, including measures to enhance economic cooperation and strengthen strong strategic partnership between the two countries. Five agreements were signed relating to bilateral consultations between the foreign ministries, avoidance of double taxation, scientific and technological cooperation, vocational training and technical education as well as educational and scientific cooperation.
Accessed on 3 February
<http://www.brecorder.com/index.php?id=383605&currPageNo=1&query=&search=&term=&supDate=>

Setting up of export credit agency proposed. The Daily Times, 11 February 2006.
A task force has proposed to the Government to establish an export credit agency (ECA) for availability of trade financing and other trade facilitation services. The task force, in detailed recommendations, has proposed a time-barred action plan 2006-2011 for the activities of the proposed ECA and prospects of the activities.
Accessed on 13 February
< http://www.dailytimes.com.pk/default.asp?page=2006%5C02%5C11%5Cstory_11-2-2006_pg5_4 >

PHILIPPINES
Philippines taken off United States intellectual property priority watch list. INQ7.net, 16 February 2006.
The United States of America has removed the Philippines from the "priority watch list" of countries that do not properly enforce intellectual property rights (IPR). This came as a result from the Philippines’ consistent implementation of IPR protection initiatives over the past few years. The Government, for example, has already seized a total 1 billion Philippine pesos-worth of pirated goods since September 2005. Being on the watch list exposed the Philippines to possible sanctions and hurt its international reputation, scaring off potential foreign investors who would be afraid of their products being pirated.
Accessed on 20 February < http://news.inq7.net/top/index.php?index=1&story_id=66377 >

REPUBLIC OF KOREA
United States and the Republic of Korea announce intention to negotiate free trade agreement. United States Trade Representative, 2 February 2006.
The United States Trade Representative (USTR) on 2 February announced the Administration’s intent to negotiate a free trade agreement (FTA) with the Republic of Korea with the goal of removing tariffs and non-tariff barriers and expanding trade between the countries. The negotiations will begin after the expiration of a 90-day consultation period. The Republic of Korea is the United States’ 7th largest export market; two-way goods trade between the two countries was valued at about US$ 72 billion in 2005. Removing trade and investment barriers between the two nations through an FTA would increase market access and boost trade in goods and services.
Accessed on 3 February
< http://www.ustr.gov/Document_Library/Press_Releases/2006/ >

UNITED STATES OF AMERICA
United States to monitor China trade compliance. Financial Times, 14 February 2006.
The United States is to set up a taskforce to monitor China’s compliance with international trade rules. The new enforcement office will collect better information of China’s trade policies, focusing on subsidies, regulatory transparency, and fair market access for telecommunications, financial services and healthcare. The establishment of the new China enforcement office is unprecedented; even at the height of trade tensions with Japan in the 1980s, there was no country-specific taskforce. Furthermore, the United States trade representative stated that he was considering bringing a case against China at the WTO if China did not cut its barriers to car parts and crack down more effectively on intellectual property violations.
Accessed on 15 February < http://msnbc.msn.com/id/11349609/ >

VIET NAM
Viet Nam wraps up WTO negotiations with Australia. Viet Nam Net, 10 February 2006.
Viet Nam has concluded bilateral negotiations with Australia, one of the most difficult partners in Viet Nam’s process to join the WTO. After finalizing negotiations with New Zealand, gaining considerable progress with the United States and reaching agreement with Australia, Viet Nam is nearing the WTO. Negotiations still have to be hold with the United States, Honduras, Dominica and Mexico.
Accessed on 13 February < http://english.vietnamnet.vn/biz/2006/02/540095/ >

AZERBAIJAN
Chairman of State Customs Committee and United States Ambassador discuss development of customs cooperation. Trend, 15 February 2006.
The chairman of the Azerbaijani State Customs Committee and the United States Ambassador to Azerbaijan on 14 February discussed existing bilateral political, economic and trade relations, as well as development of customs cooperation. A agreement on mutual aid and cooperation on customs issues between Azerbaijani and the United States governments is ready for signing.
Accessed on 16 February < http://www.trend.az/?mod=shownews&news=15910&lang=en >

EUROPEAN UNION
EU to impose 20 per cent duties on shoes from China and Viet Nam. Bloomberg, 20 February 2006.
Starting in April, the European Union will impose import duties as high as 20 per cent on some leather shoes from China and Viet Nam to prevent the footwear from being sold below cost on the EU market.
Rising tariffs will be imposed over six months, to a maximum of almost 20 per cent of their value. China has threatened to retaliate if the European Trade Commissioner levies the additional duties.
Accessed on 21 February
< http://www.bloomberg.com/apps/news?pid=10000087&sid=aSvguNlUbJn4&refer=top_world_news >

China and Viet Nam shoe companies cooperating to fight EU tariff threat. Forbes, 20 February 2006.
Shoemakers from China and Viet Nam are grouping together in an unprecedented effort to fight the EU's proposed double-digit tariffs on shoe imports. In China in particular, manufacturers are beginning to team up to hire extensive legal help for trade disputes.
Accessed on 22 February
< http://www.forbes.com/business/feeds/afx/2006/02/20/afx2539729.html >

GEORGIA
Customs tariffs set to fall. The Messenger, 14 February 2006.
Georgia has elaborated changes and amendments to the law on customs tariffs aiming to simplify and liberalize Georgia's customs regime. In 2006, Customs duties will be significantly decreased and by 2008 they will be completely eliminated. The government hopes the draft law will support liberalizing commercial activity in Georgia and will help improve the investment environment. The changes call for an immediate reduction of customs duties in several areas. Duties that are set at 14 to 30 per cent will be reduced to a flat 12 per cent fee. Customs rates that are currently 6 to 15 per cent will be decreased to 5 per cent, and the 4 per cent customs rates will be completely abolished. At the same time, the Government plans to abolish all of its seasonal customs duties. Then from January 2007, the 12 per cent customs rate will be slashed to 5 per cent and the remaining 5 per cent duties will be abolished altogether. Specific customs taxes on alcoholic beverages will be changed to 12 per cent and products that are produced in countries that are not members of the WTO will be taxed at the same rate as established for WTO member countries’ goods.
Accessed on 14 February
< http://www.messenger.com.ge/issues/1050_february_14_2006/eco_1050_1.htm >

INDIA
Government says will allow duty free wheat imports. Reuters, 2 February 2006.
India will allow the State Trading Corporation (STC) to import 500,000 tonnes of wheat at zero duty to offset a rise in domestic prices. Wheat will be imported by the STC only in the southern states; there will be no other imports of wheat except at four southern ports. Currently, India levies a 70 per cent duty on wheat imports, making it unviable to import the grain.
Accessed on 3 February
< http://in.today.reuters.com/news/newsArticle.aspx?type=businessNews&storyID=2006-02-02T155720Z_01_NOOTR_RTRJONC_0_India-234917-2.xml >

NEW ZEALAND
New customs powers to seize goods proposed. New Zealand Herald, 31 January 2006.
The rules which govern the powers of New Zealand’s Customs to seize and keep goods will be revised. A commission has made 48 recommendations aimed at modernizing the Customs and Excise Act which is considered quite out of date; it is framed in centuries old language and concepts from the time of smuggling around the coast of Britain. The recommendations include, among other measures, replacing "forfeiture and seizure" with "detention and confiscation". The current forfeiture system is disproportionate in many situations. According to the revised law, Customs would be able to detain goods at the border on the same basis as now but there would be more safeguards for the rights of people who had goods confiscated.
Accessed on 1 February
< http://www.nzherald.co.nz/section/story.cfm?c_id=1&ObjectID=10366154 >

RUSSIAN FEDERATION
Customs to become national project. Kommersant, 2 February 2006.
The Prime Minister of the Russian Federation on 8 December 2005 committed the Federal Customs Service and the Economic Development and Trade Ministry to evaluate the amount of funds required to bring momentum to Russian Federation’s Customs. An estimation was accordingly provided on 1 February 2006, stating that Customs needed 89 billion roubles up to 2010. The estimate included the provision of 30 billion roubles to fight corruption and office malfeasance among customs officers; 13 billon to acquire up-to-date monitoring devices; and 24 billion to construct 146 new and to rebuild 37 existing border checkpoints at highways.
Accessed on 3 February < http://www.kommersant.com/page.asp?idr=528&id=645885 >

The Russian Federation abolishes import duties on washing machine components. TMCnet, 2 February 2006.
The Russian Federation has permanently abolished import duties on washing machine components, after having temporarily abolished them for nine months in March 2005.
Accessed on 6 February < http://www.tmcnet.com/usubmit/2006/02/02/1338854.htm >

THAILAND
Ubon Ratchathani is turning a border customs point into a one-stop service centre. Thaisnews, 5 February 2006.
The provincial administration of Ubon Ratchathani has revealed that it had been accelerating the construction of a customs building office in the province, in order to create a one-stop service center. The 2nd phase of the project, involving B 100 million in budget, is expected to complete within 2007. Around 40 state agencies will be involved in providing services to people crossing the Thai-Laotian border via Ubon Ratchathani.
Accessed on 6 February < http://www.thaisnews.com/news_detail.php?newsid=161080 >

TURKEY
Turkey launches electronic customs processes. Reporter, 15 February 2006.
The Turkish State Minister for Foreign Trade has launched the electronic customs duty implementation system in Gemlik, one of the ports of the city of Bursa in the Marmara region, the most industrialized region of Turkey. It is targeted to process 99.5 per cent of customs within 2006. The electronic customs processes project of Gemlik has been realized with the support of Turkish Exporters Assembly.
Accessed on 16 February < http://www.reporter.gr/fulltext_eng.cfm?id=60215133542 >

VIET NAM
Tariff quotas levied on three imports from Lao People’s Democratic Republic. Viet Nam News Agency, 17 February 2006.
Rice, tobacco and spare motorbike parts imported to Viet Nam from Lao People’s Democratic Republic now face tariff quotas. For all three products, imports will enter at a low tariff until a set total import volume has been hit and thereafter, all imports for the rest of the ear will be charged a higher tariff. The volumes of rice and tobacco imports set for low tariffs this year are 30,000 and 3,000 tonnes, respectively. Spare motorbike part imports under US$ 600,000 will also be affected by this decision.
Accessed on 20 February
<http://www.vnagency.com.vn/NewsA.asp?LANGUAGE_ID=2&CATEGORY_ID=30&NEWS_ID=186810>

SPARTECA amendments mooted to sustain garment trade. Fibre2Fashion, 21 February 2006.
The Foreign Affairs Ministry of Fiji has completed negotiations with Australia over effecting amendments to South Pacific Regional Trade and Economic Co-operation Agreement (SPARTECA) rules. Negotiations have ended and they await a favorable reply from Australia.
Accessed on 22 February
< http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=13002 >

INDIA
Government extends livestock import ban. Economic Times, 10 February 2006.
On 8 February India has extended the ban on import of livestock and livestock products as a precautionary measure against bird flu. The ban was effected in 2003 when the first outbreak of bird flu was reported in some South East Asian countries and had been extended due to continued threat of avian influenza. As per the notification issued by Directorate General of Foreign Trade, import of domestic and wild birds including captive birds; unprocessed meat and meat products from Avian species including wild birds (except poultry); semen of domestic and wild birds has been banned. Further, the Government has also prohibited the import into India of such products from the countries reporting the outbreak of Highly Pathogenic Avian Influenza (Fowl Plague).
Accessed on 13 February < http://economictimes.indiatimes.com/articleshow/1409826.cms >

KAZAKHSTAN
Diesel and aviation fuel export ban prolonged. KazInform, 7 February 2006.
On 6 February 2006, the Government of Kazakhstan has adopted a resolution on extending the validity of diesel, aviation fuel and petrol export ban.
Accessed on 8 February < http://www.inform.kz/txt/showarticle.php?lang=eng&id=139642 >

NEW ZEALAND
New export rules agreed with Australia. Stuff, 3 February 2006.
New Zealand has agreed new export rules with Australia to further liberalize trade, boost competitiveness and reduce compliance costs. The new rules of origin agreement under New Zealand's Closer Economic Relations (CER) agreement with Australia have taken nearly a year to negotiate. They are significantly more liberal for determining what imported goods could be included in New Zealand-manufactured products and still be covered by CER.
Accessed on 8 February < http://www.stuff.co.nz/stuff/0,2106,3560941a10,00.html >

PAKISTAN
Government issues poultry import ban. Just-Food.com, 20 February 2006.
Pakistan has banned poultry imports from France, India and the Islamic Republic of Iran amid fears of bird flu resurgence in the country. The country has also prohibited wild bird hunting to be protected against spread of the disease through migratory bird contact.
Accessed on 21 February < http://www.just-food.com/news_detail.asp?art=63472 >

REPUBLIC OF KOREA
Minister vows to protect farmers. The Korea Herald, 14 February 2006.
The Ministry of Agriculture reiterated that the damage to the Republic of Korea’s farming industry caused by further market liberalization would be minimized, stating that during the ongoing FTA talks with the United States and Canada, the Republic of Korea would try to ensure that both negotiating governments understand the sensitive nature of the domestic agriculture industry. Korean farmers, particularly rice growers who have been enjoying high subsidies and trade protection, have been most argumentative during talks of market liberalization through the WTO or bilateral free trade agreements. Of the Organization for Economic Cooperation and Development (OECD) members, Korean farmers' income is generated from subsidies or trade protection at more than twice the OECD average.
Accessed on 14 February
< http://www.koreaherald.co.kr/SITE/data/html_dir/2006/02/14/200602140013.asp >

MALAYSIA
Malaysia, Saudi Arabia ink deal to develop mobile phone capabilities. Kuweit News Agency, 1 February 2006.
A Malaysian mobile company signed an agreement with a Saudi Arabian manufacturing firm to develop mobile phone manufacturing capabilities in Saudi Arabia. For the next five years, Malaysia will be responsible for the supply of all the necessary components to a minimum of one million units of cellular phones a year. The contract is expected to add an estimated M$ 2 billion of revenue to the Malaysian side.
Accessed on 3 February < http://www.kuna.net.kw/home/Story.aspx?Language=en&DSNO=810174 >

PAKISTAN
Pakistani textile units to be relocated to Bangladesh. The Daily Star, 19 February 2006.
Entrepreneurs of more than a dozen Pakistani textile industries have announced their decision to relocate their units to Bangladesh in a bid to slash their production cost by almost 50 per cent. Bangladesh discussed this issue on a recent visit of the Prime Minister of Bangladesh to Pakistan. Furthermore, a group of Pakistani textile industry owners have visited Bangladesh recently to study the cost-effectiveness of the planned relocations.
Accessed on 20 February < http://www.thedailystar.net/2006/02/19/d60219050246.htm >

REPUBLIC OF KOREA
Republic of Korea discovers additional oil, gas reserves off Viet Nam. Yonhap News, 7 February 2006.
An international consortium involving the state-run oil company of the Republic of Korea has found additional oil reserves in waters off the southeastern coast of Viet Nam. The oil developing consortium discovered oil reserves totaling 300 million barrels and 3 trillion cubic feet of natural gas in the Su Tu Vang oil field, where daily oil production amounts to 70,000 barrels.
Accessed on 8 February
< http://english.yna.co.kr/Engnews/20060207/420200000020060207143207E5.html >

SINGAPORE
Four initiatives to help Singapore food industry grow. Channel News Asia, 4 February 2006.
The Singapore Food Manufacturers Association will spend S$ 2 million over three years on four initiatives to boost the food industry. To meet a growing demand for processed food, companies are set to strengthen their capabilities, develop new products and prepare to compete in new local and overseas markets. There will also be a new food innovation and development centre to help companies develop new products. Additionally, an information resource centre will provide up-to-date market intelligence on issues affecting the industry.
Accessed on 8 February
< http://www.channelnewsasia.com/stories/singaporelocalnews/view/191631/1/.html >

New initiatives to help Singapore textile industry boost exports. Channel News Asia, 7 February 2006.
The Singapore textile and fashion industry will get a fresh boost from new government initiatives. In the next three years, fashion houses and the garment industry will obtain projects costing S$ 11 million through the Local Enterprise and Association Development (LEAD) programme and the industry’s capabilities will also get a boost from a Productivity and Design Development Centre (PDCC), a one-stop shop to handle sourcing, merchandising and product development. PDDC will engage professional consultants and engineers to assess the operational efficiency of each company, train engineers and managers, and recommend and implement measures to drive production efficiency. When the projects are completed in 2009, they are expected to add between 10 per cent and 15 per cent to the existing S$ 4.5 billion worth of exports by the industry.
Accessed on 8 February
< http://www.channelnewsasia.com/stories/singaporebusinessnews/view/192063/1/.html >

RUSSIAN FEDERATION
Finance Minister hints at energy reforms. The Moscow Times, 13 February 2006.
The Russian Federation took a hesitant step toward liberalizing its energy market at the Group of Eight finance ministers’ meeting in Moscow where the Russian Federation declared that the largest Russian natural gas extractor would eventually lose its exclusive use of gas pipelines. He stated that independent gas producers, including foreign companies, would have access to the state-controlled export pipelines.
Accessed on 13 February < http://www.themoscowtimes.com/stories/2006/02/13/001.html >

SOLOMON ISLANDS
Australia and New Zealand funding expansion of Solomon Islands infrastructure. ADB, 10 February 2006.
An Asian Development Bank (ADB) post-conflict emergency project to repair infrastructure in Solomon Islands is to be extended through new grants totaling US$ 8.5 million equivalent from Australian Aid for International Development (AusAID) and New Zealand Agency for International Development (NZAID). The project, for which an ADB loan of US$ 10 million equivalent was approved in 2001, is financing the restoration of roads and bridges in Guadalcanal and Malaita provinces, where years of social conflict left vital infrastructure destroyed and the local economy devastated.
Accessed on 13 February
< http://www.adb.org/Media/Articles/2006/9294_Solomon_Islands_infrastructure/default.asp >

THAILAND
Thailand to help Lao People’s Republic finance hydropower dams. MCOT.Net, 4 February 2006.
Thailand and Lao People’s Democratic Republic met on 3 February 2006 to discuss the issuance of a baht-denominated bond by Lao People’s Democratic Republic under the Asian Bond Market Initiative, to be used to finance hydropower dams in Lao People’s Democratic Republic, including the Nam Nguem II. The Nam Nguem II hydropower dam project, the first to be financed by the baht-denominated bond, is valued at about US$ 30 million, and a portion of the electricity produced will be exported to Thailand.
Accessed on 20 February < http://etna.mcot.net/query.php?nid=6415 >

UNITED NATIONS
United Nations and Republic of Korea sign accord paving way for new technology centre. UN News Centre, 31 January 2006.
The United Nations Economic and Social Commission for Asia and the Pacific and the Republic of Korea signed an agreement to open a technology centre in the Republic of Korea. The Asian and Pacific Training Centre for Information and Communication Technology for Development is expected to open its doors later this year in Incheon City, a technology hub located some 50 kilometres west of Seoul. The new technology centre will provide training programmes in the use of information and communications technology to benefit countries of the region.
Accessed on 3 February
< http://www.un.org/apps/news/story.asp?NewsID=17348&Cr=information&Cr1=technology >

Wholesale oil market to open to foreigners. China View, 7 February 2006.
China will open its wholesale oil products market to foreign investors by the end of this year to meet its WTO obligations. Over the last year or so, China has kept domestic prices of retail oil products artificially low to counter inflationary pressures as world oil prices soared. Domestic oil refiners have repeatedly complained about the low prices.
Accessed on 8 February
< http://news.xinhuanet.com/english/2006-02/07/content_4146098.htm >

EAST ASIA
New attempt at East Asia financial cooperation. People’s Daily online, 6 February 2006.
ADB will issue an Asian currency unit (ACU) in March and float ACU-denominated bonds to further boost the regional economic cooperation in East Asia. The ACU proposed by ADB is another bold attempt after major East Asian regional financial cooperation projects such as Chiang Mai Initiative and Asian Bond Fund. The ACU will not be a physical paper currency that can be used on site of transaction; rather it will be a virtual currency whose value is determined taking into considerations factors such as currencies of the 13 East Asian countries, domestic GDPs and trade scale etc. The currencies of China, Japan and the Republic of Korea will have the most significant weight in the ACU.
Accessed on 8 February
< http://english.people.com.cn/200602/06/eng20060206_240554.html >

FIJI
Duty concessions to provide relief to entrepreneurs. Fiji Government online portal, 3 February 2006.
The Cabinet of Fiji agreed that in order to allow entrepreneurs inject additional investment and contribute to economic growth, government would provide tax relief to such investments. A reduction in fiscal duty will assist mini-bus operators in purchasing new buses; concessions to the taxi industry include cheaper fuel costs; investors engaged in fisheries and agriculture sectors will qualify for a 200 per cent deduction on capital expenditure for a period of 5 years; and a 100 per cent deduction will be made available this year for agriculture, fisheries and forestry businesses engaged in value adding process with 50 per cent local content.
Accessed on 13 February < http://www.fiji.gov.fj/publish/page_6173.shtml >

INDIA
Reserve Bank of India unveils draft securitization guidelines. Economic Times, 3 February 2006.
The Reserve Bank of India issued draft regulations on securitization to protect investors’ interests. According to the draft, liquidity facility should be capable of being drawn only where there is a sufficient level of non-default assets to cover drawings or the full amount of assets which may turn non-performing are covered by a substantial credit enhancement.
Accessed on 3 February < http://economictimes.indiatimes.com/articleshow/1398805.cms >

Insurance Regulatory and Development Authority to tighten general insurance rules. Economic Times, 16 February 2006.
The Insurance Regulatory and Development Authority (IRDA) is looking at reviewing the present system that is in place for general insurance products. The regulator proposes to tighten existing guidelines that largely require the regulator’s clearance for non-tariff products that will be sold off the shelf. The new guidelines require an insurance company to categorize every new product into five classes: a mass product governed by an internal tariff; reinsurance-driven products; tailor-made policies; policies issued on the basis of a company’s experience and exposure-related products.
Accessed on 16 February < http://economictimes.indiatimes.com/articleshow/1416882.cms >

ISLAMIC REPUBLIC OF IRAN
Islamic Republic of Iran and Cuba sign banking agreement. Islamic Republic News Agency, 19 February 2006.
The Export Development Bank of the Islamic Republic of Iran and the Cuba Foreign Bank signed an agreement on 18 February with the aim to facilitate export of Iranian goods as well as engineering and technical services to Cuba. The agreement stipulates for the two countries to provide more facilities in banking cooperation with an aim of preparing the grounds for promotion of economic and trade ties and making use of mutual scientific, research and industrial capabilities. It stipulates for the Iranian bank to allocate up to a US$ 90 million ceiling for credit facilities. The two sides also said they will expand cooperation in the areas of sugar industry, fishery, biotechnology, sports, transportation, development projects, investment, tourism, information technology and communications and water resources.
Accessed on 20 February < http://www.irna.ir/en/news/view/line-18/0602193828174852.htm >

JAPAN
Japan and the Republic of Korea agree to US$ 15 billion currency swap. Bloomberg, 4 February 2006.
Japan and the Republic of Korea agreed on a US$ 15 billion currency swap accord which is expected to improve economic and political relations in the region. Under the agreement, the two countries will provide each other with United States dollars in the case of a financial crisis, such as the one that tipped Asia into recession in 1997. Japan will provide as much as US$ 10 billion in exchange for won, raising the limit from US$ 7 billion, while the Republic of Korea will, for the first time, make US$ 5 billion available in exchange for Japanese yen.
Accessed on 10 February
< http://www.bloomberg.com/apps/news?pid=10000101&sid=aNCSWgd8blY8&refer=japan >

RUSSIAN FEDERATION
Russian leading bank signs US$ 10 million loan agreement with European Bank of Reconstruction and Development. Russian News Information Agency, 15 February 2006.
A leading Russian regional bank has signed a US$ 10 million loan facility agreement with the European Bank for Reconstruction and Development (EBRD) which will extend the loan for a term of five years with a two-year grace period. The bank will use the EBRD loan to lend to small businesses that are on its client list. Along with financing, the agreement gives the EBRD an opportunity to introduce its methods and tools of crediting small business and train the bank’s personnel.
Accessed on 16 February < http://en.rian.ru/business/20060215/43556551.html >

VIET NAM
More Government bonds to be issued. Viet Nam News Agency, 4 February 2006.
The Ministry of Finance announced it would issue the fourth round of Government bonds at a face value of D 15,500 billion between 15 February and 28 December 2006. The five, seven, ten and 15-year bonds will be denominated in dong and offered in the form of certificates or on account through the Hanoi and Ho Chi Min City stock exchange centres and will be underwritten by the Ministry of Finance. The mobilized capital is to be invested into a number of key national transportation and irrigation projects.
Accessed on 8 February
<http://www.vnagency.com.vn/NewsA.asp?LANGUAGE_ID=2&CATEGORY_ID=30&NEWS_ID=184887>

Ministry of Planning and Investment to help spur business investment abroad. VietNamNet, 10 February 2006.
The Ministry of Planning and Investment (MPI) is considering a plan that would speed up procedures for issuing foreign investment licenses. According to the plan, the ministry will promulgate policies to support investors interested in setting up business in Lao People’s Democratic Republic and Cambodia. The ministry expects the plan will assist Vietnamese businesses in sharpening their skills so they can compete in Southeast Asia.
Accessed on 13 February < http://english.vietnamnet.vn/biz/2006/02/540179/ >

Read the full report from Jong Ang Daily:
< http://joongangdaily.joins.com/200602/01/200602012111100809900090609061.html >
Accessed on 3 February 2006

… wine is becoming increasingly popular in affluent China?
Western products, particularly branded goods are gaining sales and market share in the world’s largest consumer economy. Imported specialty-food products from gourmet coffees to smoked salmon to wines from grape vines are making their way into the life styles of the urbane consumer. Wine has become an alcoholic beverage of choice for the wealthy elite.

Read the full report from the East Side Business:
< http://eastsidebusiness.com/index.php?option=com_content&task=view&id=351&Itemid=42 >
Accessed on 3 February 2006

… Thailand now requires all customs clearance personnel to pass a knowledge test before working?
In an attempt to solve corruption by Customs officials, the Customs Department now demands that all shipping agent personnel has to pass a knowledge test before starting work.

Read the full report from Thaisnews:
< http://www.thaisnews.com/news_detail.php?newsid=162623 >
Accessed on 20 February 2006

… the Russian Federation supplied US$ 7 billion of weapons to India in past 5 years?
The Russian Federation has supplied more than US$ 7 billion worth of weapons to India in the past five years.

Read the full report from Itar Tass News Agency:
< http://www.itar-tass.com/eng/level2.html?NewsID=2909420&PageNum=0 >
Accessed on 3 February 2006

… the WTO received proposals on trade alerts?
India has submitted a number of proposals at the WTO for improving transparency in the rejection process of import consignments to prevent it from being used as a trade barrier. The proposals are being discussed at the ongoing meeting of the negotiating group of trade facilitation in Geneva.

Read the full report from the Financial Express:
< http://www.financialexpress.com/fe_full_story.php?content_id=117785 >
Accessed on 20 February 2006

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