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* ACD members are Bahrain, Bangladesh, Brunei Darussalam, Cambodia, China, India, Indonesia, Japan, Kazakhstan, Republic of Korea, Kuwait, Lao PDR, Malaysia, Myanmar, Oman, Pakistan, Philippines, Qatar, Singapore, Sri Lanka, Thailand and Viet Nam.

CHINA
China and Brazil agree to enhance cooperation. World Bank Press Review, 25 May 2004
On 24 May 2004, China and Brazil signed several agreements on health, commerce, science, agriculture, food safety and sports intended to strengthen cooperation with each other. The two countries also agreed to reinforce coordination at the World Trade Organization to ensure that they reach results that are meaningful for the developing world.
Accessed on 10 June 2004 < http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/ >

Early-warning system for trade remedy measures. Hong Kong (China) Trade Development Council, 7 June 2004
On 5 June 2004, the Government of China announced the establishment of its first monitoring and early-warning system for trade remedy measures to handle increasing anti-dumping appeals from developed countries after its accession to the World Trade Organization. The system covers 189 varieties of export goods in 18 categories, mainly textile, home appliance, steel and furniture. Through the service, registered companies will get the information like the monitoring and early-warning services on the quantity, future prices, dumping margins and industry injuries of Chinese products exported to the United States of America.
Accessed on 10 June 2004 < http://my.tdctrade.com/chinainfohub/show.asp?articleID=41869&catID=8 >

EUROPEAN UNION (EU)
EU-Russian Federation bilateral agreement on market access signed. EU News on Trade, 21 May 2004
On 21 May 2004, the EU and the Russian Federation signed the agreement concluding the bilateral market access negotiations for the accession of the Russian Federation to the World Trade Organization (WTO). The average tariff levels the Russian Federation has committed will not exceed 7.6 per cent for industrial goods, 11 per cent for fishery products and 13 per cent for agricultural goods.
Accessed on 8 June 2004 < http://europa.eu.int/comm/trade/issues/bilateral/countries/russia/ >

Steel agreement with Ukraine concluded. European Commission, IP/04/786, 23 June 2004
On 22 June 2004, the European Commission concluded a steel agreement with Ukraine intended to ensure a supply of the EU market of 606.824 tons of steel in 2004. The agreement will now be examined by authorities on both sides in view of its signature and entry into force. This agreement follows the recent increase in the quotas currently applied on imports of steel from Kazakhstan, the Russian Federation and Ukraine to take into account the EU enlargement.
Accessed on < http://europa.eu.int/rapid/pressReleases >

INDIA
Indian and Pakistani businesswomen sign trade MoU. Federation of Indian Chambers of Commerce and Industry, 11 June 2004
On 11 June 2004, a Pakistani businesswomen's delegation signed a memorandum of understanding (MoU) with the Federation of Indian Chambers of Commerce and Industry (FICCI). The MoU is part of the efforts to promote bilateral trade and support women entrepreneurs in both countries. As part of the understanding, the two parties have agreed to initiate measures to promote cooperation in trade, investment, services and women empowerment. A special emphasis will be placed on training women entrepreneurs and exchanging information with regard to trade, economic cooperation and services.
Accessed on 15 June 2004 < http://www.ficci.com/ficciimage/88888888_444/flo.doc >

REPUBLIC OF KOREA
KOTRA opens trade office in Mumbai (India). US-ASEAN Business Council, 10 June 2004
On 10 June 2004, the Korea Trade-Investment Promotion Agency (KOTRA) opened a regional office in the commercial city of Mumbai (India). The office, which is the 103th KOTRA's trade center, will help promote bilateral economic and trade exchanges between the two countries, especially between small-sized companies.
Accessed on 10 June 2004 < http://www.us-asean.org/headlines.asp >

SINGAPORE
24-hour security rule for ships. The Business Times, 30 June 2004
Effective from 1 July 2004, the Maritime and Port Authority (MPA) of Singapore will require completing a security form 24 hours before arrival. Under the new measure, the MPA requires all passenger ships, cargo ships of 500 gross tonnes and above and mobile offshore drilling rigs to submit a Pre-Arrival Notification of Security (Pans) 24 hours in advance. The Pans includes information on whether the vessel is in possession of a valid International Ship Security Certificate, the current security level of the ship, the last 10 ports of call, and whether any additional security measures were taken during any ship-to-port or ship-to-ship interface. This measure coincides with the coming into force of the new International Ship and Port Security (ISPS) Code on 1 July 2004.
Accessed on 30 June 2004 < http://business-times.asia1.com.sg/story/0,4567,120732,00.html >

UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT (UNCTAD)
UNCTAD XI ends with a pledge to eradicate poverty. UNCTAD XI web site.
On 18 June 2004, the United Nations Conference on Trade and Development (UNCTAD) concluded its 11th session in São Paulo (Brazil) by adopting a declaration pledging to eradicate poverty and hunger while achieving fair and equitable multilateral trade negotiations. In its plan of action, the São Paulo Consensus, it is stated that despite the encouraging signs of growth in the South, the gap between developing and developed countries has continued to widen.
Accessed on 22 June 2004 < http://www.unctadxi.org/templates/Startpage____4.aspx >

3rd round of negotiations under GSTP launched. UNCTAD Press Release, 17 June 2004
On 16 June 2004, developing-country ministers at UNCTAD XI launched the third round of trade negotiations under the Global System of Trade Preferences among Developing Countries (GSTP). Scheduled to begin in November 2004, the multilateral trade negotiations envisage preferential trade arrangements among 43 developing countries. China and the Group of 77 will be invited to accede to the Agreement and to participate in the new round of negotiations, which is expected to conclude in two years.
Accessed on 22 June 2004 < http://www.unctadxi.org/templates/Press____927.aspx >

UNITED STATES OF AMERICA (U.S.A.)
Free Association Agreement with Micronesia enacted. U.S. Trade Representative Press Release, 25 June 2004
On June 25 2004, the United States of America and the Federated States of Micronesia (FSM) exchanged diplomatic notes bringing into force the Compact of Free Association Agreement. The Compact is a bilateral agreement, originally agreed to in 1986, through which the United States of America provides a defense commitment and economic assistance to the Federated States of Micronesia.
Accessed on 9 June 2004 < http://lists.state.gov/SCRIPTS/WA-USIAINFO >

Trade and investment framework agreement with Central Asia. U.S. Trade Representative Press Release, 1 June 2004
On 1 June 2004, the United States of America and five Central Asian countries - Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan- signed a Trade and Investment Framework Agreement (TIFA). The TIFA creates a United States-Central Asia Council on Trade and Investment that will consider a wide range of issues including intellectual property, labor, environmental issues, and the participation of small- and medium-sized enterprises in trade and investment.
Accessed on 9 June 2004 < http://www.ustr.gov/releases/2004/06/04-47.pdf >

WORLD TRADE ORGANIZATION (WTO)
WTO rules against U.S.A. cotton subsidies. World Bank Press Review, 21 June 2004
On 18 June 2004, the World Trade Organization ruled against American cotton subsidies in a case brought by Brazil. The decision could eventually lead the United States of America to reduce subsidies for its entire farm sector and encourage other countries to challenge such aid schemes in developed countries. The WTO report, which has not been made public, upheld a preliminary ruling in April 2004 that supported Brazil's claim that the more than US$ 3 billion in subsidies the United States of America pays its cotton farmers distorts global prices and violates international trade rules.
Accessed on 24 June 2004 < http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/ >

UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT (UNCTAD)
UNCTAD launches 4th version of AYSCUDA. UNCTAD XI web site.
UNCTAD has launched its 4th version of the automated system for customs, named ASYCUDAWorld. Moldova is the first country to implement the new version of the system. UNCTAD expects to extend its application to over 100 countries in the next few years.
Accessed on 24 June 2004 < http://www.unctadxi.org/templates/Press____896.aspx >

VIET NAM
Import tariff on petroleum products lowered. US-ASEAN Business Council, 31 May 2004
On 24 May 2004, the Government of Viet Nam lowered the import tariff on 12 kinds of petroleum products to zero percent from previous 5 per cent, including lead and non-lead petroleum and light oil, as well as halved the tariffs on other kinds of oil. Additionally, import taxes on jet fuel, oil for aircraft engines and 14 other products made from crude oil are to decrease to 5-10 percent from previous 10-20 percent.
Accessed on 18 June 2004 < http://www.us-asean.org/headlines.asp >

Provisions on quarantine inspection of meat imports. Hong Kong (China) Trade and Industry Department, 10 June 2004
On 10 June 2004, the Government of China issued Commercial Circular No. 153/ 2004 promulgating the ‘Provisions on the Administration of Quarantine Inspection on Meat Product Import’. The Provisions set out the details concerning the administration of the enterprises engaged in meat product import, the quarantine approval procedures, the pre-inspection at the port of re-export, the inspection upon arrival, and the issue of quarantine certificates etc. The Provisions will come into force on 1 November 2004.
Accessed on 21 June 2004 < http://www.tid.gov.hk/english/aboutus/tradecircular/cic/asia/ >

EUROPEAN UNION (EU)
Transitional quotas on canned mushrooms and garlic imports from China. Hong Kong (China) Trade Development Council, 10 June 2004
The European Commission has imposed transitional quotas on canned mushrooms and garlic imports from China. The new measure limits canned mushroom imports from China at 300 tons and garlic at 1,100 tons per month. According to the EU authorities, the transitional measures are a consequence of the enlargement of the EU in May 2004 and are necessary to facilitate the transition of new members into the EU's Common Agriculture Policy.
Accessed on 24 June 2004 < http://my.tdctrade.com/chinainfohub/show.asp?articleID=42157&catID=8 >

UNITED STATES OF AMERICA
Anti-dumping measure against ironing tables from China. The Washington File, 16 June 2004
On 16 June 2004, the Government of the United States of America determined that ironing tables from China were dumped on the U.S.A. market. According to the authorities, dumping margins for Chinese producers and exporters of ironing tables ranged from 6.60 per cent to 113.80 per cent. Imposition of antidumping duties still requires final affirmative determinations both from the U.S. Department of Commerce that dumping occurred and from the U.S. International Trade Commission that the imports injured or threatened U.S. industry.
Accessed on 22 June 2004 < http://lists.state.gov/SCRIPTS/WA-USIAINFO >

Anti-dumping measure against plastic bags from China, Malaysia and Thailand. The Washington File, 14 June 2004
On 10 June 2004, the Government of the United States of America determined that plastic shopping bags from China, Malaysia and Thailand were dumped on the U.S.A. market. According to the authorities, the dumping margins ranged up to 77.33 per cent for China, 101.74 per cent for Malaysia and 122.88 per cent for Thailand. Imposition of antidumping duties still requires final affirmative determinations both from the U.S. Department of Commerce that dumping occurred and from the U.S. International Trade Commission that the imports injured or threatened U.S. industry.
Accessed on 22 June 2004 < http://lists.state.gov/SCRIPTS/WA-USIAINFO >

Prior notice of all imported food required. The Washington File, 2 June 2004
Effective from 4 June 2004, the Government of the United States of America requires advance notice of all food imports into the country. According to the new measure, shippers and exporters of food products must file notice with Customs and Border Protection as well as with the Food and Drug Administration two hours in advance for truck shipments, four hours in advance for rail and air shipments, and eight hours in advance for sea shipments.
Accessed on 16 June 2004 < http://lists.state.gov/SCRIPTS/WA-USIAINFO >

Partnership fund to recover financially distressed companies. Asian Development Bank, 23 June 2004
On 23 June 2004, the Asian Development Bank announced the completion of a US$ 138 million limited partnership fund that will promote the recovery of financially distressed but potentially viable companies in Asia. This is the first tranche in what is expected to be a total fundraising of US$ 500 million. The fund will focus on Southeast Asian markets, which are believed to have the equivalent of US$ 600 billion in nonperforming loans.
Accessed on 22 June 2004 < http://www.adb.org/Media/Articles/2004/5278 >

BANGLADESH
Protecting female garment workers. Asian Development Bank, 3 June 2004
ADB has announced a technical assistance (TA) grant of US$ 420,000 to help reduce unemployment risks and improve job opportunities for female garment workers in Bangladesh. Garment workers, the majority of which are female, risk losing jobs with the impending phase-out of the Multi-Fiber Agreement (MFA) quota restrictions by the end of this year. The TA will produce a strategic report on possible approaches for post-MFA human capacity development, employment, and social protection measures.
Accessed on 16 June 2004 < http://www.adb.org/Media/Articles/2004/5148_Bangladesh >

New opportunities for the private sector. World Bank Press Release, 8 June 2004
On 8 June 2004, the World Bank approved a US$ 250 million interest-free credit to support the Enterprise Growth and Bank Modernization Project targeting enterprise and banking reform in Bangladesh. The project will support reform of the country's nationalized commercial banks; it will encourage the development of small enterprises while strengthening institutions like the Board of Investment, the Privatization Commission, and the Bangladesh Export Processing Zone Authority.
Accessed on 22 June 2004 < http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/ >

JAPAN
Change in position towards curbs in fishing subsidies. Globe Fish, 10 June 2004
On 9 June 2004, Japan redefined its position towards curbs on fishing subsidies in the World Trade Organization (WTO). In a paper presented to the group negotiating possible changes in WTO subsidy rules, Japan acknowledged that fishing subsidies can contribute to the depletion of global fish stocks and set out an approach for tackling them. The Japanese paper proposed a restricted list of prohibited subsidies that contribute to overcapacity of shipping fleets, in contrast to the ‘blanket ban’ (with limited exceptions) on all subsidies proposed in April 2004 by New Zealand, a member of the group known as ‘Friends of Fish’.
Accessed on 22 June 2004 < http://www.globefish.org/index.php?id=2178 >

PACIFIC REGION
Pacific Internet Partners Initiative underway. ICT for Development Observatory News, 29 June 2004
The New Zealand National Commission for Unesco, the United Nations Development Programme's (UNDP) and InternetNZ have launched the Pacific Internet Partners initiative to boost the use of information and communication technology in the Cook Islands, Niue, Samoa and Tokelau. The initiative will see support this year for a Vanuatu conference, fostering of the establishment of national ICT professional organizations, and the establishment of internship and mentoring exchange programmes between New Zealand and the countries involved.
Accessed on 22 June 2004 < http://www.sdnp.undp.org/perl/news/articles.pl?id=6622&do=gpage >

PHILIPPINES
Incentives for SMEs in the electronic sector. US-ASEAN Business Council, 14 June 2004
The Government of the Philippines has lifted the locational requirement to enable small and medium enterprises (SMEs) in the electronics sector to apply for incentives offered by the Philippines Board of Investment. With the new measure, SMEs in the electronics sector are entitled to apply to the government's investment incentives even if they are located outside designated economic zones.
Accessed on 22 June 2004 < http://www.us-asean.org/headlines.asp >

UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT (UNCTAD)
International raw materials fund proposed. World Bank Press Review, 17 June 2004
During the 11th session of the UNCTAD in São Paulo (Brazil), the Conference proposed to establish an international raw materials fund for poor countries that are dependent on such resources. The fund would absorb some of the negative effects of price fluctuation of raw materials on poor countries. Additionally, loans from multilateral organizations could be used to help these countries diversify their economies, as well as process raw materials in the countries themselves.
Accessed on 22 June 2004 < http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/ >

New partnership on Information and Communication Technologies for Development. UNCTAD XI web site
UNCTAD has launched a new partnership on Information and Communication Technologies for Development intended to formulate concrete strategies to improve access to and use of ICT applications to enhance the economic competitiveness of developing countries. The partnership will focus on the following areas: measuring the information society; e-tourism; ICT policies in developing countries; e-finance for small and medium-size enterprises; and free and open-source software. For more information on measuring ICT for development: http://measuring-ict.unctad.org .
Accessed on 22 June 2004 < http://www.unctadxi.org/templates/Press____901.aspx >

UNITED STATES OF AMERICA (U.S.A)
Micro financing facility lunched. The Washington File, 18 may 2004
On 18 May 2004, the Overseas Private Investment Corporation (OPIC) announced the approval of a US$ 54 million loan for a lending facility that will use money raised from capital markets in the United States of America to lend to microfinance institutions in seven developing countries worldwide. With this initiative, OPIC expects 63,000 entrepreneurs in Bolivia, Cambodia, Colombia, Ecuador, Nicaragua, Peru and the Russian Federation to benefit from micro loans.
Accessed on 22 June 2004 < http://lists.state.gov/SCRIPTS/WA-USIAINFO >

Fund to support microfinance institutions launched. Asian Development Bank News, 15 June 2004
On 15 June 2004, the Asian Development Bank announced the launch of a US$ 2.5 million private equity fund intended to support regulated microfinance institutions and small business banks in poor areas of developing Asia. The fund, ShoreCap International Ltd., is ADB's first private sector investment targeting microfinance institutions, which tend to be informal and highly localized. Additionally, the fund will support strong microfinance nongovernmental organizations that are in an advanced stage of becoming regulated and commercial entities.
Accessed on 16 June 2004 < http://www.adb.org/Media/Articles/2004/5217 >

Trade finance facilitation program launched. Asian Development Bank News, 26 May 2004
On 26 May 2004, the ADB formally launched its US$ 50 million Trade Finance Facilitation Program (TFFP), which is intended to boost liquidity and stability of the trade finance system in the Asia and Pacific region. The TFFP marks ADB's first use of its partial credit guarantee to support and encourage international and regional confirming banks to take commercial and political risk on local banks in vulnerable economies.
Accessed on 16 June 2004 < http://www.adb.org/Media/Articles/2004/5093 >

BANGLADESH
New project to improve power supply. World Bank Press Release, 3 June 2004,
On 3 June 2004, the World Bank approved a US$ 15.5 million-project aimed at expanding the coverage and improving the quality of Bangladesh power supply. By focusing on improving the institutions that construct and operate the power system, rather than on the construction of physical assets themselves, the project is intended to overcome a major barrier to attracting the level of private investment needed to contribute significantly to economic growth and poverty reduction.
Accessed on 16 June 2004 < http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/ >

CHINA
Foreign exchange agreement with the U.S.A. The Washington File, 8 June 2004
On 8 June 2004, the Government of China and the Chicago Mercantile Exchange signed a memorandum of understanding to develop new products in China's foreign exchange derivatives market. The initiative is intended to assist China deal with the inherent risks of unexpected movements in exchange rates in foreign exchange markets, develop the appropriate technology, as well as implement international standardized tools to allow companies and individuals to insure against such risks at a nominal cost.
Accessed on 16 June 2004 < http://lists.state.gov/SCRIPTS/WA-USIAINFO >

New provisions on insurance companies. Hong Kong (China) Trade and Industry Department, 13 May 2004
Effective from 15 June 2004, the Government of China has promulgated the ‘Administrative Provisions on Insurance Companies’ as well as the ‘Implementation Details of the Administrative Regulations on Foreign-invested Insurance Companies’. The provisions govern the setting up and operation of insurance companies, the insurance terms and rate of insurance fees, the capital and solvency of the insurance companies, and the regulatory mechanism.
Accessed on 16 June 2004 < http://www.tid.gov.hk/english/aboutus/tradecircular/cic/asia/2004/asia2004.html >

VIET NAM
Investment incentives in first open economic zone. Xinxhuanet News, 7 June 2004
On 7 June 2004, the Chu Lai Open Economic Zone, the first of its kind in Vietnam, announced tax and rental incentives to attract foreign and local investors. Foreign and local investors in the zone will be exempted until 2015 from land rentals, which range from US$ 0.01 to US$ 200 per square meter per annum, provided their projects become operational before 31 December 2005. Investors will also be exempted from corporate income tax, which stands at 10 per cent, for the first eight profitable years, and will be offered a 50-per cent reduction for the following nine years.
Accessed on 16 June 2004 < http://news.xinhuanet.com/english/2004-06/07/content_1512803.htm >

In a knowledge-based economy, the ability to access, understand, analyze and apply information is essential to economic development. Academic institutions play a key role in building this knowledge and expertise. To help them equip decision-makers in developing countries with the requisite understanding of trade, investment and development issues, UNCTAD has created the UNCTAD Virtual Institute.

The Virtual Institute is designed to facilitate the development of a global network of research and institutions of higher learning on trade and development issues. It uses an interactive website to capitalize the potential of information and communication technologies (ICT) to generate and build capacity through the exchange of knowledge and experiences within and among institutions of higher education.

Read the full story at
http://www.unctadxi.org/templates/Press____858.aspx
Accessed on 23 June 2004

… attention to social and environmental issues is key to business success?

Environmental and social issues need to be integrated into business practices or companies across the globe, says a new report released by the United Nations Environment Programme (UNEP).

Launched in conjunction with the Global Compact Leaders Summit, the report is the first to study the financial impact of environmental, social and corporate considerations as they relate to the portfolio management of mutual, pension and other institutional funds.

The report, ‘The Materiality of Social, Environmental and Corporate Governance Issues to Equity Pricing,’ covers 11 business sectors and was compiled by a dozen fund managers representing US$ 1.6 trillion in assets.

Read the full story and report at
http://www.un.org/apps/news/story.asp?NewsID=11144&Cr=global&Cr1=compact
Accessed on 28 June 2004

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.