• TRADE-RELATED INFORMATION
• CUSTOMS REGULATIONS AND CHARGES
• NON-TARIFF MEASURES
• INDUSTRY AND TECHNOLOGY-RELATED INFORMATION
• INVESTMENT-RELATED INFORMATION
• DID YOU KNOW THAT...?

ASSOCIATION OF SOUTHEAST ASIAN NATIONS (ASEAN)
ASEAN and EU agree to start FTA talks process. People’s Daily online, 5 May 2007.
The Association of Southeast Asian Nations and the European Union issued a joint statement, announcing the launch of negotiations on the ASEAN-EU Free Trade Agreement (FTA). The joint statement was issued after economic ministers from the 10 ASEAN member countries and the EU Trade Commissioner met for the 8th AEM (ASEAN Economic Ministers)-EU Consultation. The two blocs said that the negotiating process would be based on a region-to-region approach which recognized and took into account the different levels of development and capacity of individual ASEAN members. They also said that a joint committee comprising senior officials from all ASEAN member countries and the EU should be established to develop the details of the modalities, work programmes and time schedule for negotiating the ASEAN-EU FTA.
Accessed on 8 May < http://english.people.com.cn/200705/05/eng20070505_372145.html >

BANGLADESH
Bangladesh to sign Trans-Asian Railway Network accord. The New Nation, 5 May 2007.
Bangladesh will sign the Intergovernmental Agreement on Trans-Asian Railway Network with a view to establishing railway connectivity among Asian countries as well as with Europe. The aim of the landmark agreement is boosting trade and tourism in the Asia-Pacific region through developing transport communications in Asian and surrounding countries. The transport link will gradually connect the European countries with the trans-border railway, which will enter into Bangladesh from three directions in the west while there will be a single get out in the east.
Accessed on 8 May < http://nation.ittefaq.com/artman/publish/article_35853.shtml >

INDONESIA
United States of America and Indonesia announce steps to deepen trade and investment relations. USTR, 21 May 2007.
The United States Trade Representative and the Minister of Trade of Indonesia agreed to formally establish working groups intended to deepen United States-Indonesia economic relations in four key areas: intellectual property rights, agricultural and industrial goods, services and investment. Two-way trade between Indonesia and the United States totaled US$ 16.5 billion last year, a 9.3 per cent increase over 2005. Two-way trade in services with Indonesia totaled US$ 1.6 billion in 2005 and United States foreign direct investment in Indonesia was US$ 9.9 billion in 2005.
Accessed on 22 May
< http://www.ustr.gov/Document_Library/Press_Releases/2007/ >

JAPAN
Japan-United Arab Emirates joint economic committee set up. Bilaterals, 29 April 2007.
Japan and the United Arab Emirates have announced the setting up of the Ministerial Japan-United Arab Emirates joint economic committee to enhance relations between the two countries, especially in the areas of investment, environment and energy. The two countries stressed their intention to develop bilateral ties and enhance dialogue between their countries at all levels, calling on both public and private sectors in the United Arab Emirates and Japan to play an active role in developing economic ties.
Accessed on 30 April < http://www.bilaterals.org/article.php3?id_article=8071 >

Japan and Switzerland launch FTA talks. Bilaterals, 14 May 2007.
Japan and Switzerland have kicked off their first round of negotiations on concluding a free-trade agreement to eliminate import tariffs on almost all goods. The two countries aim to conclude the accord by the end of the year. Switzerland is the first European country with which Japan negotiates an FTA. Japan is Switzerland’s third-largest trading partner, after the 27-nation European Union (EU) and the United States, and its largest trading partner in Asia. In the first round, major areas of negotiations, such as trade in goods, trade in services, investment and intellectual property rights, will be discussed.
Accessed on 15 May < http://www.bilaterals.org/article.php3?id_article=8292 >

MYANMAR
Government of Myanmar prepares for FTA talks with EU. The Irrawaddy, 11 May 2007.
ASEAN and the European Union have agreed to allow Myanmar to participate in free trade agreement talks with the EU, amid signs that the Government of Myanmar is preparing to highlight its recent democratic advancements. The EU Trade Commissioner said that the EU’s stance on Myanmar’s rights record had not changed although both blocs agreed that a successful FTA could provide for comprehensive trade and investment liberalization.
Accessed on 16 May < http://www.irrawaddy.org/aviewer.asp?a=7080&z=163 >

PAKISTAN
MoUs signed with Czech Republic. Business Recorder, 10 May 2007.
Pakistan and the Czech Republic have agreed to enhance cooperation in various fields including trade, science and technology, health and diplomatic relations. To that effect, four MoUs were signed between the two countries. The MoUs were signed between the diplomatic services academies, chambers of commerce, health ministries and academies of sciences of Pakistan and the Czech Republic.
Accessed on 10 May
< http://www.brecorder.com/index.php?id=561848&currPageNo=1 >

SRI LANKA
Sri Lanka enters into economic cooperation agreement with Israel. Colombo Page, 1 May 2007.
Sri Lanka has entered into an economic cooperation agreement with Israel. In 2006, Israel’s exports to Sri Lanka grew by 33.5 per cent and Israel’s imports grew by 34 per cent. Sri Lanka’s main export items to Israel are diamonds, valued at US$ 19 million or 47 per cent of total exports. Other goods include ready-made garments, tea, woven fabrics and rubber gloves.
Accessed on 3 May < http://www.colombopage.com/archive_07/May1132131JV.html >

UNITED STATES OF AMERICA
Report highlights shortfalls in intellectual property protection, acknowledges progress by some United States trading partners. Office of the United States Trade Representative, 30 April 2007.
The Office of the United States Trade Representative has released its annual “Special 301” report on the adequacy and effectiveness of intellectual property rights (IPR) protection by its trading partners. This year’s report places 43 countries on the Priority Watch List (PWL) and the Watch List (WL). Countries on the Priority Watch List do not provide an adequate level of IPR protection or enforcement, or market access for persons relying on intellectual property protection. In addition to China and the Russian Federation, three more Asian-Pacific countries are on the PWL in this year’s report: India, Thailand and Turkey. Priority Watch List countries will be the subject of particularly intense engagement through bilateral discussion during the coming year. Thirty trading partners are on the lower level Watch List, meriting bilateral attention to address the underlying IPR problems. The following Asian-Pacific countries form part of the WL: Indonesia, Malaysia, Pakistan, Philippines, Republic of Korea, Taiwan Province of China, Tajikistan, Turkmenistan, Uzbekistan and Viet Nam.
Accessed on 3 May
< http://www.ustr.gov/Document_Library/Press_Releases/2007/April/SPECIAL_301_Report.html >

United States plans to proceed to free trade agreement with Pakistan. Bilaterals, 2 May 2007.
The United States announced that the country intends to go ahead with the Free Trade Agreement with Pakistan after agreeing on a mutual investment deal with Pakistan. The United States Ambassador to Pakistan informed that the headway in the mutual investment agreement had been made; however, finalization of its details would take time. Negotiations regarding free the trade agreement would be made afterwards.
Accessed on 3 May < http://www.bilaterals.org/article.php3?id_article=8104 >

United States and European Union agree on “single market”. BBC, 30 April 2007.
The United States and the European Union have signed up to a new transatlantic economic partnership designed to boost trade and investment by harmonizing regulatory standards, laying the basis for a United States-EU single market. The two sides also signed an Open Skies agreement, designed to reduce fares and boost traffic on transatlantic flights. It was agreed to set up an “economic council” to push ahead with regulatory convergence in nearly 40 areas, including intellectual property, financial services, business takeovers and the motor industry.
Accessed on 30 April < http://news.bbc.co.uk/2/hi/europe/6607757.stm >

VANUATU
Vanuatu ratifies regional transport agreement. Pacific Magazine, 15 May 2007.
Vanuatu will ratify the Pacific Islands Air Services Agreement (PIASA). PIASA is a regional agreement that will provide a multilateral basis for liberalizing air services. Official PIASA instruments of ratification from Vanuatu were received in March 2007 by the Pacific Islands Forum Secretariat, which acts as the depository for such legal documents. The agreement will come into force when six countries in total have officially ratified it. Currently, five countries have ratified PIASA, namely Cook Islands, Nauru, Samoa, Tonga, and now Vanuatu. PIASA signatories further include Kiribati, Niue, Papua New Guinea, Solomon Islands and Tuvalu.
Accessed on 15 May
< http://www.pacificmagazine.net/news/2007/05/15/vanuatu-ratifies-regional-transport-agreement >

INDIA
Key changes in Customs valuation. The Business Standard, 7 May 2007.
The Budget 2007 has laid down significant changes in the provisions relating to Customs valuation. Draft rules have been issued laying down independent principles for valuation of imported and exported goods. More importantly however, a revised Section 14 now states that the transaction value (TV) of imported goods shall include, besides the price paid or payable for goods when sold for export to India, costs and services which the buyer is liable to pay, in addition to the above price. Thus, the TV is now to be determined in relation to the price of imported goods when sold for export to India, as opposed to the erstwhile provision which required the TV to be determined based on the price of such goods for delivery at the time and place of importation.
Accessed on 8 May
< http://www.business-standard.com/economy/storypage.php?leftnm=3&subLeft=3&chklogin=N&autono=283650&tab=r >

Protocol between India and Russian Federation on movement of goods and conveyances. IndLaw, 17 May 2007.
The Union Cabinet on 17 May gave its ex-post-facto approval for signing a protocol for exchange of information on movement of goods and conveyances between India and the Russian Federation. The protocol aims to help in accomplishing the objectives of trade facilitation and better enforcement, through electronic exchange of Customs data and to improve the efficiency and effectiveness of Customs administration. The exchange of information shall enable identification of discrepancies in the data on goods and conveyances moved between the parties.
Accessed on 22 May
< http://www.indlawnews.com/56FEA1F305F638326BB218EBF0CCEC94 >

INDONESIA
Government removes import duties on heavy equipment. Antara, 9 May 2007.
The Government has removed import duties on raw materials and components used in the assembly of heavy equipment down to zero per cent from 5 per cent previously. The move aims at stimulating growth of the heavy equipment industry in the country. The ruling will apply until September 2007.
Accessed on 10 May
< http://www.antara.co.id/en/arc/2007/5/9/ >

REPUBLIC OF KOREA
Republic of Korea and EU agree to scrap tariffs on 95 per cent of goods. The Chosun Ilbo, 10 May 2007.
During the first round of FTA talks, the Republic of Korea and the European Union have agreed to remove more than 95 per cent of tariffs on all of each other’s goods including agricultural products. Tariffs on ordinary goods will be scrapped in three phases: some immediately after the trade agreement goes into effect, some three years later and others five years later. The 27-member EU promised the Republic of Korea it would make no demand for wholesale opening of the agricultural market. In the sanitary and phytosanitary field, the EU reiterated it wanted to deal with the issue separately from the FTA talks.
Accessed on 10 May < http://english.chosun.com/w21data/html/news/200705/200705100028.html >

SOLOMON ISLANDS
Solomon Islands join Oceania Customs Group. Pacific Islands Development Program/East-West Center, 5 May 2007.
Solomon Islands Customs on 4 May became a fully committed member of the Oceania Customs Organization (OCO). OCO was formed in 1986 with the mission to promote efficiency and effectiveness in all aspects of Customs administration in Oceania with particular emphasis on the needs of Customs administration of developing countries. Solomon Islands now joins American Samoa, Australia, the Cook Islands, Fiji, French Polynesia, Guam, Kiribati, the Marshall Islands, the Federated States of Micronesia, Nauru, New Caledonia, New Zealand, Niue, Norfolk Island, the Northern Mariana Islands, Palau, Papua New Guinea, Samoa, Tonga, Tuvalu, Vanuatu, and Wallis and Futuna who are the current members of OCO.
Accessed on 8 May < http://pidp.eastwestcenter.org/pireport/2007/May/05-07-15.htm >

UNITED STATES
United States lowers penal tax on Viet Nam catfish exporter. Thanh Nien, 5 May 2007.
The United States Department of Commerce has announced its second reduction in anti-dumping-duties on a Vietnamese catfish export company after uncovering costing and forex miscalculations. Accordingly, the company based in the Mekong Delta Dong Thap province will see its penal tax reduced to 15.01 per cent from the current 21.23 per cent. Other tra and basa catfish exporters in Viet Nam will have their penal taxes remain at from 45.55 to 63.88 per cent. The United States originally undertook the anti-dumping action against catfish imports from Viet Nam in 2002.
Accessed on 7 May < http://www.thanhniennews.com/business/?catid=2&newsid=27753 >

UZBEKISTAN
Uzbekistan to renew its Customs Code. HuliQ.com, 27 April 2007.
The Government of Uzbekistan is currently seeking to renew its Customs Code to bring it in accordance with international standards and agreements. Furthermore, the Government seeks to make the Customs Code a document of direct action as, currently, Customs administration is carried on the basis of over 350 by-laws, which sometimes are contradictory to the Customs Code.
Accessed on 30 April < http://www.huliq.com/20039/uzbekistan-to-renew-its-customs-code >

VIET NAM
Viet Nam Government lowers oil import tariff. Thanh Nien News, 30 April 2007.
The Ministry of Finance has decided to cut oil import tariffs to 5 per cent from the current 10 per cent on the back of global price jumps. The ministry’s latest move, coming weeks after Viet Nam decided to remove oil price caps, was hailed by domestic petroleum import enterprises who said it was necessary so that their forthcoming oil price hikes did not shock consumers. The move aims to reduce pressure on the State over petrol subsidies and harmonize domestic petrol prices with the global market.
Accessed on 3 May < http://www.thanhniennews.com/business/?catid=2&newsid=27575 >

Ministry of Finance sets preferential tariff for ASEAN and China-sourced imports. VietNamNet Bridge, 2 May 2007.
The preferential tariff imposed on the imports sourced from ASEAN and China has become effective from 1 May 2007. The preferential tariff has been built based on the commitments under the framework of the ASEAN - China Free Trade Agreement (ACFTA), of which Viet Nam is a member. The tax reduction will be implemented in a roadmap with many steps, and the newly stipulated tariff is one of these steps. In the long term, the taxes on imports sourced from ASEAN and China will be cut further to zero to five per cent as committed. The newly announced tariff sees sharp tax cuts on many categories of products, and the targeted tax rates of zero to five per cent are now applied to many of goods items.
Accessed on 3 May < http://english.vietnamnet.vn/biz/2007/05/690532/ >

CHINA
Export licenses introduced for 83 steel products. CRI, 8 May 2007.
Effective from 20 May 2007, China applies export license management to 83 steel products amid efforts to rein in the expanding steel exports and trade surplus. The Ministry of Commerce has issued a joint notice with the General Administration of Customs saying 83 steel products including cold-rolled sheets, hot-rolled steel rolls and plates are subject to export licenses. China exported 14.13 million tonnes of steel products in the first quarter, up 118.4 per cent from the same period a year earlier. Effective from 15 April, China has already removed exports tax rebates on 83 steel products and lowered the rate on 76 others to five per cent aiming at cutting the trade surplus.
Accessed on 8 May < http://english.cri.cn/2946/2007/05/08/198@224385.htm >

INDIA
Government to safeguard exports to Thailand. The Financial Express, 3 May 2007.
Ahead of the expected renewal of the Free Trade Agreement with Thailand, India’s Export Inspection Council (EIC) has taken the initiative to work out mutual recognition of quality standards and conformity assessment with Thailand. EIC is the negotiating agency for working out mutual recognition of standards so that export consignments do not get rejected on weak grounds. Its works have now become easier with apex standards bodies of the two countries – the Thai Industrial Standards Institute and the Bureau of Indian Standards – signing an agreement in April for technical cooperation in standardization, conformity assessment and training.
Accessed on 3 May < http://www.financialexpress.com/fe_full_story.php?content_id=162980 >

India to lift barriers on Bangladesh cement. South Asian Media, 4 May 2007.
The non-tariff barriers (NTBs) Bangladesh cement exporters have been facing from India for long are likely to be removed soon as an experts team from India will visit Bangladesh to ascertain capabilities of Bangladeshi testing labs for certification. As per the decision in the fourth meeting of Bangladesh-India Joint Working Group in New Delhi, a four-member Indian team will visit Bangladesh to learn about the capabilities of the Bangladesh Standard and Testing Institute (BSTI). In case of exports of cement, the BSTI certification is not recognized by India, so the local cement manufacturers need to get a certificate from the Bureau of Indian Standard (BIS). Such a certification has been identified as a major NTB in exporting cement to the Indian market, especially to the north-eastern states. Besides, Bangladeshi exporters have to submit other documents that include their factory plan, design, layout plan, production flow chart, qualification statement of their lab experts, statement of lab equipment, description of production equipment and road map from production factory to export-import interface.
Accessed on 4 May
< http://www.southasianmedia.net/index_story.cfm?id=384970&category=Frontend&Country=MAIN >

JAPAN
Government mulls total Democratic People’s Republic of Korea export ban. The Yomiuri Shimbun, 10 May 2007.
Japan is considering banning exports of all items to the Democratic People’s Republic of Korea in a new set of sanctions that might be imposed on the country. Current sanctions ban exports of luxury items and items related to weapons of mass destruction. Sanctions now being considered also include tougher controls on ships by prohibiting any foreign vessels from entering Japanese ports if they have been to any Democratic People’s Republic of Korea port before arriving in Japan. Currently, Japan bans Democratic People’s Republic of Korea-registered ships. The Government also is considering widening its ban on fund transfers, which is currently applied to one person and 15 organizations.
Accessed on 10 May < http://www.yomiuri.co.jp/dy/world/20070510TDY01006.htm >

PAKISTAN
Five million tonnes of wheat to be exported in 2007. Business Recorder, 4 May 2007.
The Government has decided to export 5 million tonnes of wheat in 2007 through the private sector, however, no subsidy would be given to the exporters. The Federal Minister for Food, Agriculture and Livestock said that the wheat crop area have increased from 8,355 million hectares in 2005-2006 to 8,420 million hectares in 2006-2007.
Accessed on 4 May
< http://www.brecorder.com/index.php?id=559315&currPageNo=1&query=&search=&term=&supDate= >

PHILIPPINES
Philippines imposes ban on poultry from West Virginia due to bird flu. Global Nation, 4 May 2007.
The Philippines has imposed a temporary ban on imports of poultry from West Virginia after United States authorities confirmed an outbreak of the H5N2 bird flu virus in a turkey farm there. The ban covers domestic and wild birds and their products, including day-old chicks, eggs and semen. The ban aims to help prevent the entry of avian influenza into the country, which remains bird flu-free. The H5N2 virus is considered milder that the H5N1 bird flu virus, which has killed at least 172 out of 291 people known to have been infected since it began ravaging Asian poultry stocks in 2003. Cuba, Japan, the Russian Federation and Taiwan Province of China earlier imposed similar bans on poultry or poultry products from West Virginia.
Accessed on 8 May
< http://globalnation.inquirer.net/news/news/view_article.php?article_id=64138 >

SRI LANKA
Sri Lanka urges India to remove non-tariff barriers. The Sunday Times, 6 May 2007.
Sri Lanka’s Minister of Export Development and International Trade has made a strong request to India to remove non-tariff barriers in order to increase bilateral trade between the two neighboring countries. He said that Indian investments in Sri Lanka were welcome in information technology, tourism, spices, leather and ceramics sectors. Investing in Sri Lanka would mean better access to the huge European Union market, which did not charge duty on over 200 export items from Sri Lanka. Referring to bilateral trade, the minister said that though considerable progress had been made since the signing of the FTA some roadblocks still remained.
Accessed on 22 May < http://www.sundaytimes.lk/070506/FinancialTimes/ft324.html >

UNITED STATES OF AMERICA
United States tells WTO members that fishing subsidies should be banned. Trade Observatory, 1 May 2007.
The United States told World Trade Organization (WTO) members that fishing subsidies should be banned to make global trade more equitable and to prevent over-fishing of already depleted high-sea stocks. Some 2.6 billion people around the world depend on fish for their food, and millions of livelihoods in the fishing industry are under threat if no action is taken, the American ambassador to the trade body said after presenting his county’s proposal. Environmental groups back the proposal, saying it provides an opportunity to save global fish stocks from collapsing. The 27-nation European Union is the biggest single subsidizer, followed by China, India, Japan and Brazil. China disputes that it is one of the leading subsidizers and says the vast majority of its payments are to support research, fisheries management and the decommissioning of vessels.
Accessed on 3 May < http://www.tradeobservatory.org/headlines.cfm?refid=98396 >

Water saving rice varieties invented in Bangladesh. People’s Daily online, 20 May 2007.
The scientists of the Rural Development Academy in Bangladesh’s northwestern Bogra district and the Bangladesh Rice Research Institute have jointly invented 93 new varieties of paddy that could save about 33 to 50 per cent water during cultivation. Among the 93, there are a few varieties which could be harvested in 120 to 130 days. Normally it takes 150 days.
Accessed on 22 May < http://english.people.com.cn/200705/20/eng20070520_376268.html >

CHINA
Largest oilfield in four decades discovered. China Economic Net, 4 May 2007.
China has discovered a new oilfield in Bohai Bay with a reserve of one billion tonnes, or about 7.35 billion barrels, the largest discovery in the country in over four decades. The oilfield lies in north China’s Hebei Province. The block, partly offshore, covers an area of 1,300-1,500 square kilometers and is expected to produce light crude.
Accessed on 4 May
< http://en.ce.cn/Industries/Energy&Mining/200705/04/t20070504_11252110.shtml >

Premier calls for more efforts to cut pollution. China Daily, 8 May 2007.
The Premier of China has urged more curbs on industries that consume more energy and release more pollutants in a bid to ensure a healthy and fast economic growth. He announced tighter land use and credit supply as well as stricter market access and environmental standards for new projects amid efforts to rein in the rapid expansion of energy-gorging industries including power, steel, oil refinery, chemicals, construction materials and metals which consume 70 per cent of energy for industry. The Government will also cancel preferential policies on the industries like lower tax, electricity and land costs. China has set a goal of reducing energy consumption per unit of gross domestic product by 20 per cent by 2010, while pollutant discharge should drop by 10 per cent.
Accessed on 8 May < http://www.chinadaily.com.cn/china/2007-05/08/content_867261.htm >

China cracks down on food safety. BBC, 9 May 2007.
China has pledged to clean up its tainted food and drug industry after a series of safety scares that have aroused global concern. The announcement came as two company managers were detained, accused of adding melamine to food additives. The contaminated ingredient used in pet food led to the death of a number of cats and dogs in the United States. China’s State Council said the nationwide crackdown on corrupt practices in the country’s drug and food industry would compel companies to adopt standards used in food-importing countries. Melamine has no nutritional value but because it is rich in nitrogen, it makes food that uses it as ingredient appear to have more protein than it actually does and so meet required contractual obligations. It is illegal to add melamine to food or animal feed in the United States. Officials from the United States Food and Agriculture Department have arrived in China to help investigate how the melamine compound got into the batch of feed that killed pets in the United States.
Accessed on 10 May < http://news.bbc.co.uk/2/hi/business/6638113.stm >

China to expand civil aircraft industry. CRI, 15 May 2007.
According to the Government’s 11th five-year plan for the development of the industry, China’s civil aircraft industry is scheduled to expand through innovation and international cooperation. The Government plans to start development of its own aircraft with a takeoff weight of more than 100 tonnes or more than 150 seats and make new progress in key techniques in design, manufacturing and testing. According to the plan, China also plans to strengthen its capability in developing long-life and high-capacity satellites and make full use of them in telecommunication, navigation and remote sensing.
Accessed on 15 May < http://english.cri.cn/2946/2007/05/15/168@227138.htm >

FIJI
Automation lift for Training and Productivity Authority. Fiji Times, 8 May 2007.
Automation technology training climbed another level on 7 May 2007, with Japan’s donation of a US$ 145,000 model plant to the Training and Productivity Authority of Fiji. The laboratory will help instructors pass on practical knowledge and ensure better hands-on experience for TPAF’s technical and trade students. Industries that want to automate their plants send their workers to TPAF. Training provided through the new model will mean less manual work and help companies cut costs. As part of its training efforts in the technical and trade areas, TPAF plans to establish a National Qualification Framework, which will benchmark training and qualifications in the technical and trade areas against a national standard based on the needs of local industries.
Accessed on 8 May < http://www.fijitimes.com/story.aspx?id=62168 >

INDIA
Indian firm to launch wireless international broadband. SINA, 30 April 2007.
An Indian telecommunications firm will provide roaming wireless broadband services to international travelers. The service will allow seamless roaming and usage within a wireless broadband network in India wherein visitors can access high-speed wireless broadband using their home country account and identity.
Accessed on 3 May < http://english.sina.com/technology/1/2007/0430/111099.html >

KAZAKHSTAN
Ecological certification to be introduced in Kazakhstan by 2008 – 2009. Kazakhstan Today, 27 April 2007.
The Ministry of Environment Protection said that ecological certification for companies would be introduced in Kazakhstan by 2008 - 2009. Currently, the ministry is working on stronger ecologic criteria to certify companies dealing with oil extraction, transfer and processing. The normative-legal basis is planned to be developed by 2008 – 2009, after which the ministry will start certification.
Accessed on 30 April < http://eng.gazeta.kz/art.asp?aid=90417 >

MALAYSIA
Malaysia to build US$ 7 billion oil pipeline project. Channel News Asia, 7 May 2007.
Malaysia will build a US$ 7 billion pipeline to transport Middle East oil across the north of its peninsula to East Asian countries. The project is one of the Government’s major initiatives to develop Malaysia’s northern region. The pipeline will run from northwestern Kedah state, across Perak state to northeastern Kelantan state which faces the South China Sea. The pipeline will bypass the piracy-prone Malacca Strait. An initial phase of two million barrels of oil per day is expected to cost about two billion United States dollars, and the investment will increase to US$ 4.5 billion and US$ 7 billion upon completion of the second and third phases of the project, respectively. Half of the world’s oil shipments currently pass through the 960-kilometer strategic Malacca Strait, the busiest seaway in the world.
Accessed on 8 May
< http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/274672/1/.html >

Malaysia mulls law to regulate GM foods. China Post, 22 February 2007.
Malaysia will introduce a new law to regulate genetically modified (GM) foods but the move is not aimed at stopping imports of biotech products. A proposed Biosafety Bill has been tabled in Parliament and will be debated next month. Under the proposed bill, any food products including animal feed, crops or animals that contain genetically modified organisms must be approved by a new Government panel as part of efforts to boost food security. Importers would also be required to label GM contents in food products to allow consumers to make informed decisions.
Accessed on 22 May
< http://www.chinapost.com.tw/news/archives/asiapacific/2007522/110294.htm >

MYANMAR
Russian Federation and Myanmar in nuclear deal. BBC, 16 May 2007.
The Russian Federation has agreed to build a nuclear research centre in Myanmar. In a potentially controversial deal, the centre will include a 10MW light-water reactor and facilities for processing and storing nuclear waste. It will be monitored by the UN nuclear agency, the International Atomic Energy Agency (IAEA). The United States and European Union have imposed sanctions on Myanmar, which they accuse of widespread human rights abuses.
Accessed on 16 May < http://news.bbc.co.uk/2/hi/asia-pacific/6658713.stm >

NEPAL
Ministry to set up rural ICT centres. The Rising Nepal, 8 May 2007.
The Ministry of Information and Communications has organized a two-day national stakeholders’ meeting to discuss setting up of community electronic centres (CeCs) in rural areas. The CeCs are part of a project funded the Asian Development Bank and the United Nations Economic and Social Commission for Asia and the Pacific. The project aims at reducing poverty, empowering communities and improving quality of life through the increased Information and Communication Technology connectivity and accessibility in rural areas of four participating South Asian Sub-regional Economic Cooperation countries, namely Bangladesh, Bhutan, India and Nepal. CeCs will allow people to use basic telecommunications services such as accessing the Internet.
Accessed on 10 May < http://www.gorkhapatra.org.np/content.php?nid=18408 >

PAPUA NEW GUINEA
Australia and Papua New Guinea kick off US$ 32 million farm project. Pacific Islands Development Program/East-West Center, 3 May 2007.
Papua New Guinea and Australia have kicked off a K 90 million (US$ 32.2 million) project in Port Moresby to help smallholder farmers in the country. The signing of the Agriculture Research and Development Support Facility (ARDSF) project aims to allow for innovative information and technologies to be made available to farmers to help them generate income and maintain food security. The ARDSF is a five-year project and its flexible funding mechanism is aimed at strengthening the capacity of the National Agricultural Research System to deliver improved services to their rural stakeholders. The facility will include a broader range of agencies comprising the National Agriculture Research Institute, the Cocoa and Coconut Institute, Coffee Industry Corporation, Fresh Produce Development Agency, Oil Palm Research Agency and its sister body the Oil Palm Industry Corporation.
Accessed on 3 May < http://pidp.eastwestcenter.org/pireport/2007/May/05-03-14.htm >

RUSSIAN FEDERATION
Russian Federation clinches gas pipeline deal. BBC, 12 May 2007.
Kazakhstan, the Russian Federation and Turkmenistan have agreed to build a new natural gas pipeline north from the Caspian Sea. The agreement ensures the Russian Federation’s access to Turkmenistan’s gas. The new pipeline will carry gas from Turkmenistan, one of the world’s largest sources of gas, through Kazakhstan to the Russian Federation.
Accessed on 14 May < http://news.bbc.co.uk/2/hi/asia-pacific/6649169.stm >

VIET NAM
Singapore firm to plan US$ 500 million power plant in Viet Nam. Thanh Nien, 5 May 2007.
A Singapore-based firm has got the nod in principle from the Ministry of Industry to develop a thermal electricity plant in central Viet Nam at an estimated cost of US$ 500 million. The Singaporean investor will build the power complex on a 300 ha site in Phu Cat district in the Binh Dinh province with a designed capacity of 500 MW. The ministry will submit the project to Prime Minister for the final say. According to the Ministry of Planning and Investment, several mammoth electricity projects involving large investments by foreign companies were awaiting approval. Power demand is increasing by 20 per cent a year and in recent years, the Government has adopted priority policies to attract investors in the power sector.
Accessed on 7 May < http://www.thanhniennews.com/business/?catid=2&newsid=27755 >

CHINA
China to regulate insurance agents based on capital. China Economic Net, 7 May 2007.
According to the China Insurance Regulatory Commission (CIRC), the country’s 141,300 insurance agents are to be classified into three categories each with different minimum capital requirements and range business options to achieve better market order. CIRC said the insurance agents with registered capital of no less than 10 million yuan renminbi will be allowed to serve as agents for an unlimited number of insurance companies. Agents with no less than 500,000 yuan renminbi in registered capital can serve no more than five insurance companies, while those with no registered capital requirement can only sell insurance products for a single company.
Accessed on 8 May
< http://en.ce.cn/Industries/Insurance/200705/07/t20070507_11268434.shtml >

Taiwan Province of China plans to tax overseas earnings. International Herald Tribune, 7 May 2007.
In a bid to expand Government revenues as economic growth slows, Taiwan Province of China plans to begin taxing the overseas income of its citizens in the next two years. The plan may affect an increasing number of the 23 million workers from the Province who earn their income in China, where economic growth is almost three times as fast as in the island province.
Accessed on 8 May < http://www.iht.com/articles/2007/05/07/business/taiwanecon.php >

China approves China-Africa Development Fund. Sina, 12 May 2007.
The establishment of China-Africa Development Fund has been approved by the State Council. The fund will start from US$ 1 billion and then add up to US$ 3 billion in a second phase, until it will eventually amount to US$ 5 billion. The business scope of the fund mainly includes equity and quasi-equity investment, fund investments, fund management, investment management and consulting services. The fund will be used to support African countries’ agriculture, manufacture, energy sector, transportation, telecommunications, urban infrastructure, resource exploration and the development of Chinese enterprises in Africa.
Accessed on 15 May < http://english.sina.com/china/1/2007/0512/111909.html >

ISLAMIC REPUBLIC OF IRAN
Islamic Republic of Iran adopts directive seeking to open doors to foreign banks. Gulf Times, 7 May 2007.
The Central Bank of the Islamic Republic of Iran has adopted a directive that would allow foreign firms to set up branches in the country and buy stakes in Iranian banks. The directive allows the opening of banks with joint Iranian and foreign investment, the possession of shares in Iranian banks by foreign investors and foreign banks to set up branches in the country. Foreign banks currently are allowed to open only in free trade zones like the southern resort island of Kish and have no branches elsewhere in the country. The legislation still needs to be ratified by the Cabinet and then presented to the Parliament for a vote.
Accessed on 8 May
< http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=147814&version=1&template_id=48&parent_id=28 >

KAZAKHSTAN
Direct Investments’ Fund established in Kazakhstan. Kazinform, 25 April 2007.
For the first time, a Direct Investments’ Fund has been launched in Kazakhstan with the Eurasian Bank for Reconstruction and Development being one of its main investors. The main means of the fund will be aimed at the development of small and medium business. The investments in the spheres of non-bank financial services, production of food, retailing business, alternative telecommunication facilities and other directions will be the targeted sectors of the fund. Its estimated capital will hit US$ 75 million.
Accessed on 30 April < http://www.inform.kz/showarticle.php?lang=eng&id=150854 >

MALAYSIA
Islamic banking research office launched. Khaleej Times, 15 May 2007.
A Kuwaiti finance group has launched an Islamic banking research office – the Malaysia-based Islamic Banking Economics and Investment Research – that has a team of experts tasked to generate and share knowledge on Islamic finance and capital markets in the Middle East and Asia. The institute aims to provide cutting-edge research material which capitalizes on economic and Islamic financial research and provides clients with an added value to their investment decisions.
Accessed on 16 May
< http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/business/2007/May/ >

RUSSIAN FEDERATION
Minister calls for integration of agriculture into banking system. Itar-Tass, 30 April 2007.
The Minister of Agriculture has called for the integration of the rural population into a civilized banking system, saying that development of agricultural credits in rural areas should become one of the agricultural and food policy priorities. Among priorities, the minister named the need to meet the growing demand for domestic quality dairy and meat products.
Accessed on 3 May
< http://www.itar-tass.com/eng/level2.html?NewsID=11487499&PageNum=0 >

SINGAPORE
Singapore’s largest bank and Gulf investors set up Islamic bank. Khaleej Times, 7 May 2007.
Singapore’s largest bank announced that it planed to tap growing Middle Eastern affluence by launching an Islamic bank that would offer financial advice and products in Gulf countries and in Asia. The bank will own 60 per cent of the Singapore-based lender, named Islamic Bank of Asia or IB Asia, with the remaining shares owned by a group of 22 private and institutional investors from the Middle East. The Islamic bank plans to hire 58-60 staff by the end of 2007 and will focus on offering private and commercial banking services.
Accessed on 7 May
< http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/business/2007/May/ >