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Welcome to E-TISNET Monthly News to keep you abreast
of the latest developments on trade and investment relevant to the Asia-Pacific
region. E-TISNET Monthly News is the electronic and user-friendly
version of the former TISNET Trade and Investment Information
Bulletin.
For enquiries and/or subscriptions, please contact us at escap-tisnet@un.org
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A. TRADE-RELATED
INFORMATION
AUSTRALIA
Trade talks under way between Australia
and China. The New Zealand Herald,
24 May 2005
On 23 May talks began between Australia
and China to establish a free trade agreement.
Australia granted China, its third-largest
trading partner, “market economy”
status and hopes for better access to the
world’s most populous economy. A mutual
study forecasts US$ 82 billion in joint
economic benefits over 10 years.
Accessed on 24 May 2005 < http://www.nzherald.co.nz/index.cfm?ObjectID=10127166
>
EUROPEAN UNION (EU)
European Commission launches investigations
in Chinese textiles imports. EU
Press Room, 24 April 2005
The EU Trade Commissioner has asked for
the Commission’s authorization to
launch investigations into nine categories
of Chinese textile exports to the EU.
This decision was made in the light of
a sharp surge in imports from China during
the first quarter of 2005. In all these
categories, import volumes for Chinese
textiles have risen above ‘alert
levels’ defined by the Commission.
The Commission will now conduct an investigation
(maximum two months) to determine if market
disruption has occurred and whether the
EU should impose special safeguard measures.
In parallel, it launches immediate consultations
with China in an attempt to find a satisfactory
solution.
Accessed on 24 May 2005 < http://europa.eu.int/rapid/
>
JAPAN
Japan and Malaysia to sign free-trade
agreement. Biznewsdatabank,
22 May 2005
Japan and Malaysia plan to sign a free-trade
accord to bolster business and investment.
The accord, to take effect in December,
will cut or abolish tariffs on goods,
services and agriculture. Japan exported
US$12.6 billion worth of goods to Malaysia
in 2004 which in turn was the 10th biggest
exporter to Japan the same year, with
US$14.1 billion in trade. Malaysia is
South-East Asia's third-largest economy
after Indonesia and Thailand. Japan on
the other side is Malaysia’s biggest
export market after the United States
of America and Singapore.
Accessed on 24 May 2005 <http://www.biznewsdb.com/english/newspage/newspage.asp?ID=505228&file1=5&bulan=05&kw=wwqq>
REPUBLIC OF KOREA
Republic of Korea-ASEAN reach draft
framework agreement on FTA. The
Chosun Ilbo, 5 May 2005
The Republic of Korea and the Association
of South-East Asian Nations (ASEAN) have
reached a draft framework agreement on
a free trade pact. More meetings are to
be hold until October to work on details
of the proposed free trade agreement (FTA).
Hopes are that the FTA will be signed
just in time for the Korea-ASEAN summit
in December.
Accessed on 5 May 2005
< http://english.chosun.com/w21data/html/news/200504/200504220009.html
>
UNITED STATES OF AMERICA
Announcement of request for bilateral
textile consultations. Committee
for the Implementation of Textile Agreements,
20 May 2005
The Committee for the Implementation of
Textile Agreement of the United States
of America requested consultations with
the Government of China with respect to
imports of Chinese origin cotton knit
shirts and blouses; cotton trousers; and
cotton and man-made fiber underwear.
Accessed on 24 May 2005 <
http://otexa.ita.doc.gov/fr2005/CHISA6.htm
>
VIET NAM
Viet Nam eyes more overseas trade offices.
Viet Nam Trade Information Centre,
16 May 2005
The Ministry of Trade announced its plan
to open seven new trade offices this year
in Algeria, Belarus, Morocco, the Netherlands,
Spain and the United States of America.
These are countries with a potential US$
50 million annual export value or in which
Viet Nam has gained an export growth rate
in excess of 20 per cent over the past
few years. More offices are to be opened
in Africa in the coming years to increase
market information in a region to which
Viet Nam’s exports have increased
from US$ 15.5 to US$400 in just little
over ten years.
Accessed on 20 May <http://asemconnectvietnam.gov.vn/AsemVn/asps/news.asp?idnews=6612&tuan=20>
B. CUSTOMS REGULATIONS AND CHARGES
CHINA
China announced to raise export duties
on textile and clothing. Hong Kong
Trade Development Council, 20 May 2005
In line with the current disputes on textile
trading, China announced that it will raise
export duties on textile and clothing. Items
covered by this measure account for over
20 per cent of China’s clothing exports.
Accessed on 24 May 2005 <
http://www.tdctrade.com/sme/newsflash/smeflash050520.htm
>
EUROPEAN UNION
Anti-Dumping duty on imports of magnesium
oxide originating in China. The
Official Journal of the European Union,
23 May 2005
Effective from 24 May 2005, the EU approved
Council Regulation (EC) No 778/2005 imposing
a definitive anti-dumping duty on imports
of magnesium oxide originating in China.
Accessed on 25 May
< http://europa.eu.int/eur-lex/lex/LexUriServ/site/en/oj/2005/l_131/l_13120050525en00010017.pdf
>
Anti-Dumping duty on stainless steel
products originating in China, Indonesia,
Taiwan, Thailand and Vietnam. The
Official Journal of the European Union,
20 May 2005
Effective from 21 May 2005, the EU approved
Council Regulation (EC) No 771/2005 introducing
provisional anti-dumping measures on stainless
steel fasteners and parts thereof originating
in China, Indonesia, Taiwan, Thailand
and Vietnam. The regulation will be applied
for a period of six months.
Accessed on 25 May
< http://europa.eu.int/eur-lex/lex/LexUriServ/site/en/oj/2005/l_128/l_12820050521en00190050.pdf
>
HONG KONG, CHINA
Hong Kong outward processing arrangements
(OPA) textile products excluded from mainland
export duty. Hong Kong Trade and
Industry Department, 24 May 2005
On 24 May, the members of the joint steering
committee meeting of the “Mainland
and Hong Kong Closer Economic Partnership
Arrangement” (CEPA) agreed that
Hong Kong-origin textile and clothing
products that undergo outward processing
in the Mainland will be exempted from
export duty imposed by the Mainland. A
working group has been formed by China
and Hong Kong to work out technical details
with a view to implementing the exemption
arrangement with effect from July this
year.
Accessed on 25 May < http://www.tid.gov.hk/english/aboutus/presspeech/2005/20050524_2.html
>
VIET NAM
Industry ministry’s proposals
on cars import tax policy. Ministry
of Finance of the Socialist Republic of
Vietnam, 19 May 2005
The Ministry of Industry has proposed
that import taxes on used cars be increased
to 200 per cent, equal to the rate on
new cars so as to avoid trade fraud. The
ministry has also called for the application
of the same special consumption tax level
on both imported and locally-assembled
cars within this year, instead of the
current level of 80 per cent on imported
cars and 40 per cent on locally-assembled
cars.
Accessed on 20 May < http://www.mof.gov.vn/DefaultE.aspx?tabid=356&ItemID=23288
>
WORLD TRADE ORGANIZATION (WTO)
WTO ministers reach agreement on tariffs
issue. Australian Broadcast Corporation,
5 May 2005
Trade ministers of WTO members have reached
an agreement on a technical issue of calculating
tariffs that was blocking the Doha round
of global trade negotiations. An accord
has been reached on the AVE – the
“ad-valorem equivalent” –
a method for converting tariffs currently
expressed in a nominal value into a percentage
of the price to enable comparison. The
technical but key tariffs issue divided
wealthy food-importing nations and exporting
countries and needed to be agreed upon
before talks could move on to a formula
for tariff cuts.
Accessed on 6 May 2005 < http://www.abc.net.au/news/newsitems/200505/s1360151.htm
>
C. NON-TARIFF MEASURES
CHINA
New import rules on auto parts and accessories.
Hong Kong Trade Development Country,
1 April 2005
Chinese authorities have promulgated measures
for the administration of auto parts and
accessories imports for the assembly of
complete vehicles. The new rule is aimed
at standardising and reinforcing the import
administration of auto parts and accessories
as well as promoting the development of
the auto industry. While the new rule applies
to auto makers importing auto parts and
accessories for the production of assembled
cars with state approval, those importing
complete knocked-down or semi-knocked-down
parts are not subject to it.
Accessed on 20 May 2005 < http://www.tdctrade.com/alert/cba-e0504c-1.htm
>
PAKISTAN
Pakistan announces freight subsidy
to wood furniture, marble, granite exporters.
Southasialogistics.com, 20 May
2005
The Export Promotion Bureau (EPB) will
provide 25 percent inland freight subsidy
to the exporters of wood furniture, marble
and granite products in addition to sea
freight subsidy. The subsidy is installed
to boost exports by reducing transaction
costs.
Accessed on 27 May 2005 < http://www.southasialogistics.com/topnews.asp?id=31376&country
>
SINGAPORE
Prohibition of exports to Sudan.
Singapore Customs, 25 April 2005
On 25 April 2005, the Government of Singapore
issued Circular No. 8/2005 to inform that
the exportation of weapons, ammunition,
military vehicles, military equipment
and paramilitary equipment from Singapore
to Sudan is prohibited with immediate
effect. The announcement was made in accordance
to the UN Security Council Resolution
1591 (2005).
Accessed on 25 May 2005 < http://www.customs.gov.sg/circular/CIR08-05.pdf
>
UNITED STATES OF AMERICA
United States of America to impose
textiles safeguards on China. International
Centre for Trade and Sustainable Development,
18 May 2005
The United States of America has decided
to impose quotas on three categories of
textiles and clothing imports from China.
Investigations showed that the imports
were causing market disruption. China's
terms of accession to the WTO include
a 'textile specific safeguard clause'
that allow WTO Members to impose quantitative
restrictions on imports of Chinese textiles
and clothing products if they are found
to disrupt markets. Under the safeguard,
Members can limit specific products to
an increase of 7.5 per cent above the
preceding year's import levels.
Accessed on 20 May <
http://www.ictsd.org/weekly/05-05-18/story3.htm
>
WTO
WTO secretariat reports declines in
both new anti-dumping investigations and
new final anti-dumping measures. World
Trade Organization, 19 May 2005
The WTO Secretariat reported that in the
period from 1 July until 31 December 2004,
both the number of initiations of new
anti-dumping investigations, and the number
of new final anti-dumping measures applied,
showed substantial declines compared with
the corresponding period of 2003. China
remains the most frequent subject of new
investigations, with 25 initiations directed
at its exports during July-December 2004.
Korea was the second most frequent subject
followed by Brazil and Chinese Taipei
and Japan and the United States.
Accessed on 20 May < http://www.wto.org/english/news_e/pres05_e/pr406_e.htm
>
D. INDUSTRY AND TECHNOLOGY-RELATED INFORMATION
ASIA-PACIFIC
First UN information technology centre
approved for Asia-Pacific region. United
Nations News Centre, 19 May 2005
The United Nations Economic Commission for
Asia and the Pacific (ESCAP) ended its annual
session by approving a landmark decision
to establish the UN’s first information
and communications technology training centre
for the region. The Training Centre for
Information and Communications Technology
(APCICT) for Development, expected to open
in 2006 in the Republic of Korea, is intended
to help build the capacity of ESCAP member
countries through training programmes in
the use of information and communications
technology (ICT).
Accessed on 20 May
< http://www.un.org/apps/news/story.asp?NewsID=14315&Cr=asia&Cr1=development
>
CHINA
China to open information industry.
China Broadcast, 18 May 2005
The Government of China has stated that
it will insist on opening up the information
industry to comply with the WTO framework.
Currently there is still a big gap between
China and developed countries despites
the fact that China occupies the number
one world rank for fixed line and mobile
phone users.
Accessed on 25 May 2005 < http://en.chinabroadcast.cn/2600/2005-5-18/87@238079.htm
>
REPUBLIC OF KOREA
South Korea tops in broadband use.
Sidney Morning Herald, 24 May
2005
In percentage terms, the Republic of Korea,
with 73 per cent of its web users utilising
high-speed or “broadband”
connections, remains the world's biggest
user of high speed Internet. It is followed
by Hong Kong, with 59.1 per cent having
high-speed connections; Taiwan, Province
of China (50.8 per cent); Canada (42.7
per cent); the Netherlands (41.3 per cent);
Japan (38.6 per cent); Singapore (38.2
per cent); Belgium (37.3 per cent); Denmark
(36.1 per cent) and Switzerland (33 per
cent). The United States of America ranked
11th in percentage with 29.9 per cent.
China will soon top the list: broadband
has grown dramatically in China over the
last two years, from four million broadband
households in 2002 to over 23 million
in 2004.
Accessed on 24 May 2005
< http://www.smh.com.au/news/Breaking/South-Korea-tops-in-broadband-use/2005/05/24/1116700683146.html?oneclick=true
>
VIET NAM
Viet Nam buys more electricity from
China. Viet Nam News Agency,
06 May 2005
Electricity of Viet Nam (EVN) has decided
to buy 200 more MW of electricity from
China, raising the total output of electricity
bought from China to 400 MW. EVN has asked
Electricity Company No.1 to coordinate
with northern border provinces, including
Lao Cai, Quang Ninh and Ha Giang, to upgrade
the existing 110kV electricity transmission
networks to 220kV.
Accessed on 10 May 2005
< http://www.vnagency.com.vn/NewsA.asp?LANGUAGE_ID=2&CATEGORY_ID=30&NEWS_ID=149773
>
E. INVESTMENT-RELATED INFORMATION
CHINA
China lowers threshold for foreign investment
in travel agencies. Hong Kong Trade
Development Council, 1 April 2005
The China National Tourism Administration
and Ministry of Commerce lowered the threshold
for foreign investment in travel agencies
by reducing their minimum registered capital
from Y4 million to Y2.5 million. Geographical
restrictions on travel agencies were also
lifted. In the past, foreign investors were
only allowed to set up travel agencies in
State Council-approved national holiday
resorts and in five cities namely Beijing,
Shanghai, Guangzhou, Shenzhen and Xian.
Accessed on 20 May < http://www.tdctrade.com/alert/cba-e0504d-1.htm
>
China eases currency rule to encourage
outflows. International Herald
Tribune, 24 May 2005
China has increased the amount of foreign
currency that companies can buy for investment
abroad by 52 per cent, encouraging enterprises
to expand globally and seeking to ease
pressure for a revaluation of the yuan
renminbi. China's direct investment abroad
rose 27 per cent to US$3.62 billion last
year and contracted overseas investment,
an indicator of future investment plans,
jumped 78 per cent to US$3.71 billion.
Increased investment overseas may also
help to counter the impact of dollar inflows
that drove China's foreign reserves to
a record US$659.1 billion at the end of
March.
Accessed on 24 May 2005 < http://www.iht.com/articles/2005/05/23/bloomberg/sxinvest.php
>
INDIA
Poor infrastructure hits N-E trade.
The Statesman, 23 May 2005
Lack of suitable trade infrastructure
and comprehensive policy to promote the
country’s trade through the region
continue to stymie efforts to improve
international trade with the eastern neighbours
through India’s North-East that
shares about 5,000 km of border with Bangladesh,
Bhutan China and Myanmar. According to
authorities the volume of total export
and import through the region has remained
static for the last few years registering
a minimal growth notwithstanding a number
of trade agreements designed to boost
trade between the country and its immediate
neighbours in the east.
Accessed on 24 May 2005
< http://www.thestatesman.net/page.news.php?clid=12&theme=&usrsess=1&id=77921
>
JAPAN
Japan providing Viet Nam preferential
loan of US$760 millions. Viet
Nam Trade Information Centre, 4 April
2005
On 31 March, Japan and Viet Nam signed
government preferential loan agreements
worth US$ 760 million in total to support
infrastructure projects in Viet Nam. Among
the projects are credit for small and
medium-sized enterprises, a road network
in Hanoi and the improvement of environment
in Hai Phong city. Since 1993, Japan has
committed to lend Viet Nam a total of
Yen 964.963 billion, mainly used to support
projects developing infrastructure.
Accessed on 20 May 2005
< http://asemconnectvietnam.gov.vn/asemvn/asps/news.asp?idnews=6498&tuan=14
>
PHILIPPINES
President of the Philippines orders
government agencies to facilitate investment
by cutting red tape. US-ASEAN
Business Council, 18 May 2005
The President of the Philippines ordered
government agencies to cut red tape to
spur foreign investment in the country.
Government agencies and state-owned firms
are asked to simplify rules and regulations
and reduce reportorial requirements to
facilitate doing business and encourage
more investments in the country.
Accessed on 20 May 2005 < http://www.us-asean.org/headlines.asp
>
SINGAPORE
Singapore and China sign agreement
on establishment of Investment Committee.
Ministry of Trade and Industry Singapore,
18 May 2005
Singapore and China signed an agreement
to establish a China-Singapore Bilateral
Investment Promotion Committee. Chaired
by the Trade Ministers of Singapore and
China, the Investment Promotion Committee
will discuss policies and issues related
to the investment environment of both
countries, thereby enhancing mutual understanding
of government economic policies and facilitating
two-way investment between the countries.
Accessed on 20 May 2005 < http://www.mti.gov.sg/public/NWS/frm_NWS_Default.asp?sid=38&cid=2370
>
SOUTH-EAST ASIA
Sounds of a building boom, US-ASEAN
Business Council, 20 May 2005
South-East Asia shows signs to be the
next large infrastructure business. Indonesia
in January unveiled a five-year, US$145
billion plan to improve infrastructure.
In April, Malaysia said it would spend
US$4.4 billion to modernize its railways
and launch 625 smaller projects. Thailand
has approved US$59 billion in spending
on projects such as new subways, elevated
trains, and a causeway across the Gulf
of Thailand. Estimates are that South-East
Asia will spend nearly US$30 billion on
new infrastructure this year alone.
Accessed on 24 May 2005 < http://www.us-asean.org/headlines.asp
>
THAILAND
Asian Development Bank issues debut
Thai Baht bonds. Asian Development
Bank, 18 May 2005
On 18 May 2005 the Asian Development Bank
(ADB) issued its debut Thai baht bonds
in the domestic capital market of Thailand,
with a principal amount of B4 billion
and a bullet maturity of five years. The
lead arrangers were Citigroup and Siam
Commercial Bank. The issue generated strong
demand and was nearly twice oversubscribed.
Priced at par, ADB's baht bonds carry
a semiannual coupon of 3.87 per cent per
annum and were priced at a spread of 17
basis points over the five-year Thai Government
Security. Before launching the issue,
ADB and the lead arrangers conducted an
extensive road show in Bangkok to present
the deal to key institutional investors.
Accessed 20 May < http://www.adb.org/Documents/News/2005/nr2005077.asp
>
VIET NAM
Viet Nam’s draft investment law
backs foreign investors. Thanh
Nien News, 10 May 2005
The proposed new investment law will allow
foreign investors to purchase, buy back
or merge companies or affiliate companies
operating in the country. It will also
permit foreigners to set up joint-stock
companies or buy back stakes in Vietnamese
joint-stock enterprises.
Accessed on 11 May 2005 <http://www.thanhniennews.com/business/?catid=2&newsid=6602>
F. DID YOU KNOW THAT...?
… 63% of the Europeans are
favorable to the development of globalization?
The European Commission has requested a
survey on the perception of globalization
among members of the European Union. The
report has now been published.
Read the full story from the European Commission
Trade News
http://trade-info.cec.eu.int/doclib/html/123146.htm
Accessed on 20 May 2005
… It takes 153 days to
start a business in Mozambique, but only
two days in Canada?
The World Bank has begun an annual survey
cataloging the hazards of starting a business
in 145 countries. The central finding
is that poor countries with the greatest
need for entrepreneurs to speed growth
and create jobs also put the most obstacles
in their way.
Read the full story from the Worldbank
< http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,date:05-09-2005~menuPK:34461~pagePK:34392~piPK:64256810~theSitePK:4607,00.html#Story
>
Accessed on 20 May 2005
… Viet Nam Sugarcane and
Sugar Association are trying to convince
the government not to open the market
for imports?
Responding to information on the government’s
permission to import sugar due to lower
output and higher prices, the Viet Nam
Sugarcane and Sugar Association (VSSA)
on May 12 held an internal meeting with
sugar producing plants across the country
to discuss how to impede sugar imports.
At the meeting, all sugar producing plants
suggested the government not to allow
the importation of sugar, otherwise sugarcane
growing farmers and plants would be crushed.
Read the full story from the Viet Nam
Trade Information Centre
< http://asemconnectvietnam.gov.vn/AsemVn/asps/news.asp?idnews=6607&tuan=20
>
Accessed on 25 May
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.
©2005 United Nations
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ISSUE
6/2005