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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
GREATER MEKONG SUBREGION (GMS)
First GMS Trade Fair. UNESCAP,
10 March 2004
From 4 to 7 March 2004, the first GMS Trade
Fair was held in Hanoi (Viet Nam) with the
support of the United Nations Economic and
Social Commission for Asia and the Pacific.
This first-ever subregional trade fair for
the six GMS countries was organized as a
collaborative project among the six national
chambers of commerce and industry in the
GMS. In conjunction with the trade fair,
a core group meeting of the GMS Business
Forum and a regional trade and investment
promotion conference were organized.
Accessed on 12 March 2004 from < http://www.unescap.org/unis/front/tradefair.asp
>
EUROPEAN UNION (EU)
Increased transparency in the use of
trade defense. European Commission,
8 March 2004
On 8 March 2004, the EU Member States
endorsed a Commission proposal to introduce
greater transparency, efficiency and predictability
in the use of anti-dumping and anti-subsidy
measures. Under the new rules, definitive
anti-dumping or countervailing measures
will be considered adopted unless a simple
majority of EU Members States opposes
the move.
Accessed on 12 March 2004 from
< http://europa.eu.int/comm/trade/issues/respectrules/anti_dumping/pr080304_en.htm
>
INDIA
Pakistan upgraded for better risk cover.
The Hindustan Times, 24 March
2004
Export Credit Guarantee Corporation of
India has upgraded Pakistan for better
risk cover, which will lead to lower payment
of export insurance premium by Indian
exporters.
Accessed on 29 March 2004 from
< http://www.hindustantimes.com/news/partner/tradeindia/tradeindia.shtml
>
LAO PDR
Cooperation with China boosted.
Asia Business Daily News, 19
March 2004
On 18 March 2004, China and Lao PDR signed
a package of cooperation agreements intended
to double their bilateral trade within
the next year. China agreed to continue
providing financial and technical assistance
to Lao PDR, as well as to enhance bilateral
cooperation in the negotiations over China-ASEAN
free trade agreement.
Accessed on 22 March 2004 from < http://www.asiabusinessdaily.com/
>
PAKISTAN
Poverty Alleviation Fund's Phase-II
launched. Pakistan Business Recorder,
March 27 2004
On 26 March 2004, the Government of Pakistan
launched the Poverty Alleviation Fund's
Phase-II, which would enhance access of
poor to micro credit, infrastructure,
health education, skill enhancement program
and training. World Bank is financing
this phase with US $238 million. New programmes
include inclusive financial and business
solutions to the poor; more integrated
schemes in infrastructure; stronger linkages
with local governments; and comprehensive
plans for institutional development of
NGOs and community organizations.
Accessed on 29 March 2004 from < http://www.brecorder.com/index.php
>
PHILIPPINES
Trade cooperation agreements with India
signed. INq7Net News, 15
March 2004
Philippines and India have concluded several
trade cooperation agreements in different
sectors, including agricultural techniques
for medicinal plants and medicine manufacturing,
information technology, and jewelry. Major
exports from Philippines to India consist
of electric integrated circuits, newsprint,
phosphoric acid, machine parts and accessories,
fiberglass and semi-conductor devices.
Imports from India include rice, wheat
as animal feed, frozen meat of cattle,
and soybean oil cake.
Accessed on 29 March 2004 from < http://www.inq7.net/brk/2004/mar/15/brkinf_4-1.htm
>
THAILAND
Thai-Australia FTA will bring tariffs
to zero. The Nation, 27 March
2004
The Thai-Australian free trade agreement
will be officially launched on 1 January
2005 and tariffs on more than half the
goods traded between the two countries
will be reduced to zero per cent. The
average tariff rate on goods traded between
Thailand and Australia is now about 9
per cent. After 1 January 2005, tariffs
on about 48 per cent of all Thai exports
to Australia and on 83 per cent of 6,000
items of Australian imports to Thailand
will fall to zero.
Accessed on 29 March 2004 from
< http://www.nationmultimedia.com/page.news.php3?clid=6&id=110751&usrsess=1
>
UNITED STATES OF AMERICA
First WTO case against China filed.
United States Trade Representative,
4 March 2004
On 4 March 2004, the United States of
America announced the filing of a case
at the World Trade Organization (WTO)
regarding China’s discriminatory
tax rebate policy for integrated circuits.
According to the United States of America,
China provides preferential tax treatment
to integrated circuits produced in China,
thereby disadvantaging U.S. and other
imports. This action starts a 60-day consultation
period required under WTO rules.
Accessed on 15 March 2004 from < http://www.ustr.gov/releases/2004/03/04-22.pdf
>
VIET NAM
Cooperation framework with Singapore
signed. US-ASEAN Business Council,
9 March 2004
On 8 March 2004, Singapore and Viet Nam
signed an agreement on comprehensive cooperation
framework intended to strengthen bilateral
relations.
Accessed on 11 March 2004 from < http://www.us-asean.org/headlines.asp
>
B. CUSTOM REGULATIONS AND CHARGES
EUROPEAN UNION (EU)
Import duties in the rice sector.
Official Journal of the European Union,
17 March 2004
With effect from 18 March 2004, the EU approved
commission regulation (EC) No 500/2004 fixing
the import duties in the rice sector.
Accessed on 22 March 2004 from
< http://europa.eu.int/eur-lex/pri/en/oj/dat/2004/l_080/l_08020040318en00260028.pdf
>
Special conditions for imports of
fishery products originating in Viet Nam.
Official Journal of the European Union,
20 March 2004
Effective from 4 May 2004, the EU has
approved Commission Decision (2004/267/EC)
amending Decision 1999/813/EC and laying
down special conditions governing imports
of fishery products originating in Viet
Nam, as regards the designation of the
competent authority and the model of health
certificate.
Accessed on 29 March 2004 from
< http://europa.eu.int/eur-lex/pri/en/oj/dat/2004/l_083/l_08320040320en00260028.pdf
>
INDIA
Clarification of duty free entitlement
scheme. Directorate General of
Foreign Trade,
9 March 2004
On 9 March 2004, the Government of India
issued Policy Circular No. 29 (RE 2003)
2002-2007 to clarify the duty free entitlement
certificate scheme for service providers,
particularly regarding consumables, office
equipments and professional equipments.
Accessed on 16 March 2004 from < http://dgftcom.nic.in/exim/2000/cir/cir03/pc_29.htm>
Tariff values of palmoilein and soy
products. Central Board of Excise
and Customs,
16 March 2004
On 16 March, 2004, the Indian Government
issued Notification No. 32/2004-Cus. (N.T.)
amending notification No.36/2001-Cus.
(NT) of 3 August 2001, on tariff values
of palm oil products and soybean products
falling in the following categories: HS
15111000; 15119010; 15119090; 15111000;
15119020; 15119090; 15071000; 74040022.
Accessed on 16 March 2004 from < http://www.cbec.gov.in/cae/customs/
>
THAILAND
Tariffs on agricultural products from
Cambodia abolished. Viet Nam News
Agency,
11 March 2004
At the first meeting of the Thailand-Cambodia
Joint Trade Committee, Thailand has agreed
to abolish tariffs on several agricultural
products of Cambodia. Thailand has also
agreed to import duty-free soybeans, maize,
castor beans, potatoes, sweet corn, cashew
nuts, eucalyptus and groundnuts from Cambodia.
Accessed on 16 March 2004 from < http://www.vnagency.com.vn/
>
C. NON-TARIFF MEASURES
AUSTRALIA
Reduced EU tariff quotas for rock lobster.
Australia Ministry of Trade, 11
March 2004
The European Union has adopted a new tariff
quotas regime for the period 2004-2006 for
rock lobster imported from Australia. Under
the arrangement, the EU has granted an autonomous
tariff quota (ATQ) enabling the annual import
of 1,500 tonnes of frozen rock lobster for
further processing at six per cent duty,
down from previous 12.5 per cent tariff.
Accessed on 16 March 2004 from
< http://www.trademinister.gov.au/releases/2004/mvt016_04.html
>
EUROPEAN UNION (EU)
Anti-dumping duty on imports of silicon
originating in China. Official
Journal of the European Union, 3
March 2004
On 2 March 2004, the EU adopted Council
Regulation (EC) No 398/2004 imposing a
definitive anti-dumping duty of 49 percent
applicable to the net, free-at-Community-frontier
price before duty, on imports of silicon
falling within CN code 2804 69 00 originating
in China.
Accessed on 22 March 2004 from
< http://europa.eu.int/eur-lex/pri/en/oj/dat/2004/l_066/l_06620040304en00150030.pdf
>
Protection against subsidized imports.
Official Journal of the European Union,
9 March 2004
On 8 March 2004, the EU approved Council
Regulation (EC) no 461/2004 amending Regulation
(EC) No 384/96 on protection against dumped
imports from countries not members of
the European Community and Regulation
(EC) No 2026/97 on protection against
subsidized imports from countries not
members of the European Community.
Accessed on 18 March 2004 from
< http://europa.eu.int/comm/trade/issues/respectrules/anti_dumping/pr080304_en.htm
>
Suspension of anti-dumping duty on
coke of coal originating in China.
Official Journal of the European Union,
19 March 2004
Effective from 3 May 2004, the EU has
approved Commission Decision (2004/264/EC)
suspending the anti-dumping duty imposed
by Decision No 2730/2000/ECSC on imports
of coke of coal in pieces with a diameter
of more than 80 mm originating in China.
Accessed on 29 March 2004 from
< http://europa.eu.int/eur-lex/pri/en/oj/dat/2004/l_081/l_08120040319en00890091.pdf
>
Textiles and clothing trade policy
extended to new member states. Official
Journal of the European Union, 12
March 2004
Effective from 1 May 2004, the EU has
adopted Council Regulation (EC) No 487/2004
amending Regulation (EEC) No 3030/93 on
common rules for imports of certain textile
products from third countries. The new
regulation extends EU trade policy concerning
textiles and clothing and the corresponding
quantitative restrictions on imports of
such products to take account of the accession
of ten new member states.
Accessed on 22 March 2004 from
< http://europa.eu.int/eur-lex/pri/en/oj/dat/2004/l_079/l_07920040317en00010015.pdf
>
INDIA
Exporters’ fee rebate available
only to digitally signed applications.
Federation of Indian Export Organizations,
March 2004
Starting from 1 April 2004, the Government
of India has announced the introduction
of the digital signature and electronic
fund transfer facility for exporters.
With the new facility in place, the 50
percent reduction in exporters’
application fee will be available only
to applications which are digitally signed
and submitted online.
Accessed on 18 March 2004 from < http://www.fieo.com/fieonews/2004/march/free.html
>
UNITED STATES OF AMERICA
Cambodia Textile Status Report.
United States Customs, 8 March
2004
On 8 March 2004, the Government of the
United States of America issued the textile
status report stating the charges for
absolute quota on textiles imported from
Cambodia. The report contains information
on current import quotas and restraint
levels for the period from 1 January and
31 December 2004.
Accessed on 24 March 2004 from < http://www.customs.gov/quotas/files/khtxtrpt.htm
>
D. INDUSTRY AND TECHNOLOGY-RELATED INFORMATION
BRUNEI
New programme to encourage young entrepreneurship.
Government of Brunei, 23 March
2004
The Government of Brunei has announced the
launch of a new programme for youths with
the objective to create a pool of young
entrepreneurs. The programme consists of
various entrepreneurship trainings, short-term
courses, workshops, seminars and conferences
covering areas such as finance, marketing,
managing, standard and quality control and
the use of information and communication
technology.
Accessed on 24 March 2004 from
< http://www.brunei.gov.bn/hotnews/0304/23/Young_Entrepreneurs.htm
>
KYRGYZSTAN
Boost to small businesses and banking
sector. International Finance
Corporation,
22 March 2004
On 22 March 2004, the International Finance
Corporation signed a US$1.5 millions loan
agreement with a Kyrgyz commercial bank
to set up a Micro and Small Enterprise
Finance Facility. The facility is expected
to provide credit lines to Kyrgyz banks
for expanding lending to micro and small
enterprises.
Accessed on 24 March 2004 from < http://ifcln001.worldbank.org/ifcext/ >
PHILIPPINES
State-owned power plants sold off.
Channel News Asia, 26 March 2004
The Government of the Philippines has
started auctioning the first of 15 state-owned
power plants. The fifteen plants, with
a total capacity of more than 1,400 megawatts,
are to be sold by June 2004.
Accessed on 29 March 2004 from
< http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/77201/1/.html
>
Support to electronic SMEs. US-ASEAN
Business Council, 17 March 2004
The Government of the Philippines has
signed an agreement allowing electronic
small and medium-sized enterprises (SMEs)
to be included in the Board of Investments
(BOI) investment priorities plan. This
measure means that electronic SME firms
will enjoy the same incentives as other
BOI registered companies in the form of
tax exemptions and concessions.
Accessed on 22 March 2004 from < http://www.us-asean.org/headlines.asp
>
VIET NAM
Agreement on quarantine of farm products
with China. Ministry of Foreign
Affairs,
11 March 2004
On 10 March 2004, Viet Nam and China signed
a Memorandum of Understanding on quarantine
of farm and plant products. Under the
document, the two countries will tighten
quarantine on fruit and vegetables and
other farm products in an effort to ensure
the health and safety standards required.
Accessed on 24 March 2004 from <http://www.mofa.gov.vn/English/WhatsNew/WhatNew.htm>
Boost to agricultural SMEs. Viet
Nam Trade and Information Centre,
8 March 2004
The Government of Viet Nam has signed
an agreement on sub-loan for the project
for agricultural development worth US$30
million from the Asia Development Bank
to be granted to small and medium-sized
enterprises (SMEs) in the agricultural
sector. Borrowers include SMEs with a
maximum of 300 workers running and dealing
in agricultural material production and
supply; processing of vegetables, industrial
and agricultural trees; food processing;
services for agriculture; home craft;
and agricultural product storage.
Accessed on 9 March 2004 from
< http://asemconnectvietnam.gov.vn/asemvn/asps/news.asp?idnews=5723&tuan=10 >
E. INVESTMENT-RELATED INFORMATION
ASIA-PACIFIC ECONOMIC COOPERATION
(APEC)
Business travelers card program expanded.
APEC Secretariat, 4 March 2004
The immigration pre-clearance for business
travelers has been expanded to 16 economies
with the inclusion of Indonesia, Papua New Guinea and
Singapore. APEC Business Travelers Card
(ABTC) program enables pre-cleared short-term
entry to 16 APEC member economies. The ABTC
Program also facilitates rapid immigration
processing for business travelers through
special APEC lanes at major airports.
Accessed on 9 March 2004 from
<http://www.apecsec.org.sg/apec/news___media/media_releases/040304_biztrvclearance.html>
AZERBAIJAN
New opportunities for leasing.
International Finance Corporation,
5 March 2004
The Government of Azerbaijan has passed
amendments to the country's legislation
to stimulate a development of the leasing
sector in the country. The two major changes
are a VAT free lease transactions and
double depreciation of leased assets.
The measures have been included in the
tax code of Azerbaijan and retroactively
enforced from 1 January 2004.
Accessed on 9 March 2004 from
< http://ifcln001.worldbank.org/ifcext/
>
CHINA
ASEAN- China investment fund launched.
Xinxhuanet News, 20 March 2004
On 19 March 2004, the ASEAN-China investment
fund was launched aiming at financing
small-and medium-sized enterprises in
Southeast Asia and China with US$125 million.
The investment fund is supported by the
Government of Switzerland, along with
the Asian Development Bank, the French
financial development institution Proparco,
the Japan Asia Investment Company and
the United Overseas Bank of Singapore.
Accessed on 23 March 2004 from
< http://news3.xinhuanet.com/english/2004-03/20/content_1376020.htm
>
Private property endorsed. China
Ministry of Commerce, 15 March 2004
On 14 March 2004, the Government of China
endorsed amendments to the Constitution,
which have highlighted the protection
of private property. The amendments stipulate
that private property is inviolable, putting
private assets on an equal footing with
public property. Under the amended Constitution,
the Government for public interest reasons,
may expropriate or requisition private
property in accordance with law but must
pay compensation.
Accessed on 17 March 2004 from
< http://english.mofcom.gov.cn/article/200403/20040300195056_1.xml
>
INDIA
Private equity fund to promote infrastructure
development. Asian Development
Bank,
9 March 2004
On 9 March 2004, the Asian Development
Bank announced the launch of a private
equity fund to promote infrastructure
development in India. The Fund is expected
to raise from institutional investors
US$100 million and help the private sector
in India meet its infrastructure financing
needs, raise the efficiency of infrastructure
projects, and mobilize long-term capital
from domestic and international institutional
investors.
Accessed on 11 March 2004 from
< http://www.adb.org/Media/Articles/2004/4324_India_infrastructure_development/
>
NEPAL
Support for financial sector reform.
The World Bank, 10 March 2004
On 9 March 2004, the World Bank approved
a US$75.5 million credit to Nepal to support
the country's efforts at improving its
financial sector. This operation aims
to provide further financial support to
the two largest Nepalese commercial banks,
Rastriya Banijya Bank (RBB) and Nepal
Bank Limited (NBL) and make them commercially
viable for privatization. The project
has four main components, namely, voluntary
retirement schemes, hiring of sales advisors,
ongoing Nepal Rastra Bank re-engineering
and management team support.
Accessed on 12 March 2004 from
< http://siteresources.worldbank.org/NEWS/PressRelease/20175202/pr2004-241-sar-np.pdf
>
RUSSIAN FEDERATION
Plans to boost rail and air transport.
Interfax, 24 March 2004
The International Finance Corporation
(IFC) has announced its plan to invest
during 2004 US$500-600 million in the
Russian Federation, mostly in the transport
sector, particularly rail and air transport,
plus agriculture, chemicals, mining and
retail. The IFC will continue to invest
in the financial industry, but to a lesser
extent, working with provincial banks
and specializing in leasing and home-loans.
Accessed on 26 March 2004 from < http://www.interfax.ru/e/B/0/26.html?id_issue=9682898
>
UNITED STATES OF AMERICA
New income tax treaty with Japan approved.
US Department of State, 10 March
2004
On 10 March 2004, the Government of the
United States of America approved a new
income tax treaty with Japan aimed at
reducing bilateral tax barriers to cross-border
trade and investment and foster closer
economic ties between the two countries.
The new treaty provides for the complete
elimination of withholding taxes on all
royalty income and introduces relevant
changes in the reciprocal reductions in
source-country withholding taxes on income
from cross-border investments.
Accessed on 12 March 2004 from < http://usinfo.state.gov/regional/ea/
>
VIET NAM
On-line business licenses for foreign
investors. Viet Nam News Agency,
26 March 2004
Starting on 1 April 2004, foreign investors
in Ho Chi Minh City will be able to register
for business licenses at a local website,
www.dpi.hochiminhcity.gov.vn The online
pilot programme targets initially only
projects under US$ 5 millions and is intended
to attract more foreign investment in
the city.
Accessed on 29 March 2004 from < http://www.vnagency.com.vn/
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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
4/2004