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CHINA
China and Iceland to start free trade agreement talks. Easy Bourse, 9 July 2006.
China and Iceland plan to begin formal negotiations on a bilateral free trade agreement (FTA), following successful talks in the beginning of July. The talks discussed a feasibility report on an FTA that recommended ‘an early start of formal negotiations’ on the pact. Iceland has granted China market-economy status and is the first European country to consider a free trade agreement with China. China is currently negotiating free trade pacts with Australia, New Zealand and several Persian Gulf countries.
Accessed on 10 July
< http://www.easybourse.com/Website/dynamic/News.php?NewsID=17788&lang=fra&NewsRubrique=2>

INDIA
India and Bangladesh to upgrade infrastructure to boost trade. India News, 6 July 2006.
India and Bangladesh have decided to modernize and upgrade existing infrastructure, including roads, to boost their bilateral trade. Custom officials of both countries will soon meet and review the performance of 176 land custom stations along the India-Bangladesh border. It is expected that some of the stations will be further strengthened and some of them will be redeployed.
Accessed on 7 July
< http://indiaenews.com/2006-07/13949-india-bangladesh-upgrade-infrastructure-boost.htm >

KIRIBATI
EU and Kiribati initial new fisheries partnership agreement. Welcome Europe, 20 July 2006.
The European Union and Kiribati have initialed a six-year fisheries partnership agreement (FPA). The new agreement puts increased emphasis on the promotion of sustainable and responsible fisheries in Kiribati’s waters. It occupies a key position in the future network of tuna agreements to be set up in the Pacific Ocean, together with the agreements with the Solomon Islands and the Federated States of Micronesia, which have been initialed already and are now awaiting formal ratification.
Accessed on 21 July < http://www.welcomeurope.com/default.asp?id=1300&idnews=3193 >

MALAYSIA
Malaysia-Japan FTA takes effect. The Edge Daily, 13 July 2006.
Effective from 13 July more than 6,600 Malaysian products to Japan will enjoy duty-free treatment under a landmark free trade agreement. Among the major products are rubber products, electrical and electronic items, footwear, chemicals and petrochemicals, plastics, furniture and auto parts. Various cooperation projects will be implemented under the agreement to benefit Malaysia. Malaysia and Japan had signed the Japan-Malaysia Economic Partnership Agreement on 13 December 2005 after nearly two years of negotiations.
Accessed on 17 July
< http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_67bc2880-cb73c03a-110b6400-ccd32a91 >

PAPUA NEW GUINEA
Two new loans to increase road connectivity in Papua New Guinea. ADB, 4 July 2006.
Two loans of the Asian Development Bank (ADB) totaling US$ 53 million will increase road connectivity in Papua New Guinea. They will finance the upgrading and rehabilitating of 270 kilometers of roads in the Highlands region. The road system in the Highlands, home to the highest proportion of the poor in the country, constitutes the backbone of the economy. The condition of these roads, however, is poor, mainly due to design flaws and lack of maintenance, leading to high vehicle operating costs and long travel times. Mountainous, geologically unstable and battered by torrential rains, road construction in these areas is costly which results in isolated local communities. About one million people in the region live within a day’s walk of the road and significant business opportunities are lost. The new ADB loans will improve road access of more than 600,000 people, reduce their travel costs and time to major commercial and service centres and enable them to tap economic and social opportunities in the Highlands. To prevent the spread of sexually transmitted infections and HIV/AIDS associated with improved transportation, the loans will also finance training and awareness campaigns.
Accessed on 10 July
< http://www.adb.org/Media/Articles/2006/10171-Papua-New-Guinea-roads/default.asp >

SINGAPORE
Singapore sets up supply chain security programme. Channel News Asia, 6 July 2006.
Singapore has launched a new initiative to get all locally-based companies involved in the supply chain business to boost their security. The programme spells out security guidelines and goals which the companies should adopt on a voluntary basis in order to improve the security of their operations. It has been drawn up based on a risk and vulnerability assessment approach and incorporates inputs from both Government and industry.
Accessed on 7 July
< http://www.channelnewsasia.com/stories/singaporelocalnews/view/217576/1/.html >

SOUTH ASIAN FREE TRADE AREA (SAFTA)
South Asian Free Trade Area becomes operational. China View, 1 July 2006.
The South Asian Free Trade Area, which became effective from 1 January 2006, started its practical implementation on 1 July 2006. With this, the common market for 1.4 billion people of seven South Asian Association for Regional Cooperation (SAARC) countries will become a reality where all the countries will have to withdraw the import tariff from all their products by 2015, except some sensitive products. Pakistan and India are to complete implementation by 2012, Sri Lanka by 2013 and Bangladesh, Bhutan, Maldives and Nepal by 2015.
Accessed on 4 July < http://news.xinhuanet.com/english/2006-07/01/content_4778829.htm >

TAJIKISTAN
Trade Facilitation Programme reaches new benchmark. EBRD, 29 June 2006.
With the issuance of a 35,200 euro letter of credit by a Tajik bank, the Trade Facilitation Programme (TFP) of the European Bank for Reconstruction and Develoment (EBRD) has passed another milestone by financing its 5,000th transaction. The letter of credit will cover the import of refrigerators and washing machines made in the Russian Federation to Tajikistan. Established in 1999, the Trade Facilitation Programme supports trade to, from and within the EBRD’s 27 countries of operations. TFP assists participating banks in building track records with their correspondent confirming banks, reducing cash collateral requirements and freeing up clients’ working capital by providing guarantees to the confirming banks for the payment of various trade finance instruments issued by local banks. Since the start of the programme, in Tajikistan alone, TFP has guaranteed 260 letters of credit, supporting imports from 30 countries in Asia, Europe and North America.
Accessed on 4 July < http://www.ebrd.org/new/pressrel/2006/77june29.htm >

UNITED STATES OF AMERICA
United States and Cambodia sign agreement on trade and investment. USInfo, 14 July 2006.
The United States and Cambodia have signed a bilateral trade and investment framework agreement (TIFA). The agreement, which covers areas such as intellectual property rights, trade facilitation and customs arrangements, is expected to increase trade and investment and to provide a forum for addressing trade-related issues. Within Southeast Asia, the United States has concluded similar bilateral trade and investment agreements with Brunei Darussalam, Indonesia and the Philippines. It currently is negotiating a regional TIFA agreement with the 10-member Association of Southeast Asian Nations (ASEAN). The agreement with Cambodia will support the goals of the current administration’s ‘Enterprise for ASEAN’ initiative. The initiative, launched in October 2002, seeks to strengthen United States trade and economic ties with ASEAN as a force for stability and development in the Southeast Asian region.
Accessed on 17 July
< http://usinfo.state.gov/xarchives/display.html?p=washfile-english&y=2006&m=July&x=20060714151937ASesuarK0.2463495 >

WORLD TRADE ORGANIZATION (WTO)
WTO members formally adopt agreement on RTA transparency. ICTSD, 12 July 2006.
WTO Members formally approved a new set of rules for examining each others’ regional trade agreements. The transparency mechanism sets out a series of notification requirements for signatories of RTAs. Members are to inform the WTO of the pending conclusion of RTA negotiations and provide factual information on the agreement, such as its scope and implementation timetables. Individual Members will be required, for example, to outline the pacts’ rules of origin requirements, specific tariff concessions and import data. The new mechanism will be implemented on a provisional basis. If necessary, members will modify the decision and replace it with a permanent mechanism as part of the overall results of Doha round negotiations.
Accessed on 17 July < http://www.ictsd.org/weekly/06-07-12/wtoinbrief.htm#3 >

Doha Development Agenda negotiations suspended. WTO, 24 July 2006.
The Doha Development Agenda negotiations are to be suspended because gaps between key players remain too wide. Heads of delegations, speaking in an informal meeting of the Trade Negotiations Committee on 24 July 2006, agreed with the WTO Director-General that this would be a setback for all members. The main blockage is in issues related to agriculture, namely market access and domestic support. Several developing countries said failure to conclude the round would deprive them of outcomes that would benefit development, from the reduction of agricultural distortions, to the duty-free, quota-free package for least-developed countries’ exports and “aid for trade”.
Accessed on 26 July
< http://www.wto.org/english/news_e/news06_e/mod06_summary_24july_e.htm >

CHINA
China to cut export tax rebate for most steel products. China Economic Net, 3 July 2006.
China will slash export tax rebates for most steel products to eight per cent from 11 per cent beginning on 1 August, rather than down to five per cent in July as previously planned. The measure was originally proposed for 1 July at five per cent for all steel products, however, industry representatives argued that a six percentage point reduction would hurt the Chinese steel sector bolstered by booming exports. The Government has now settled on the policy that will decrease export tax rebates to eight per cent excluding 23 types of high-value-added steel products. China slashed the tax rebate on exports of steel products to 11 per cent from 13 per cent in May 2005.
Accessed on 4 July
< http://en.ce.cn/Industries/Basic-industries/200607/03/t20060703_7599250.shtml >

China offers zero tariffs on products from Afghanistan and Senegal. People’s Daily Online, 8 July 2006.
China has announced tariff exemptions on 194 varieties of products from Senegal and 278 categories of products from Afghanistan, bringing the number of least developed countries whose selected products enjoy zero tariff rates to 33. The Customs Tariff Commission of the State Council said that the selected goods were the same as those listed in the categories granted zero tariff rates to other African countries. The categories include textiles farm produce, aquatic products and minerals. The 278 products from Afghanistan include textile goods such as cotton and silk carpets, aquatic products, farm produce and hardware.
Accessed on 10 July < http://english.people.com.cn/200607/08/eng20060708_281115.html >

GEORGIA
Customs duties to remain on agricultural products. Messenger, 3 July 2006.
Customs duties for agricultural products and building materials are to remain at 12 per cent. This decision was adopted by the Georgian parliament after it criticized the Government’s initiative to decrease taxes on imported agricultural products. The parliament decided that decreasing or annulling customs duties would undermine local production in Georgia. Zero tariffs will be applied to all products and raw materials which Georgia does not produce.
Accessed on 4 July
< http://www.messenger.com.ge/issues/1142_july_3_2006/eco_1142_3.htm >

MALAYSIA
Malaysia to implement e-manifest code, effective 1 August 2006. Bernama, 12 July 2006.
Freight forwarders based in Port Klang have been asked to register immediately with the Port Klang Authority (PKA) to get their code pass for the online e-manifest forwarding system before 1 August, to ensure a speedy clearance process at the port for the goods being imported.
Accessed on 13 July
< http://www.bernama.com.my/bernama/v3/news_business.php?id=207756 >

Customs body to provide insight into Harmonized System. Business Times, 24 July 2006.
Malaysia will enforce the Harmonized Commodity Description and Coding System, better known as the Harmonized System (HS), beginning 1 January 2007. The system is one of the most successful instruments developed by the World Customs Organisation (WCO) as the basis for customs tariffs and international trade statistics. It is a trade facilitation instrument which ensures the application of customs rules and is used and applied by both the public and the private sectors to identify and code goods in international trade.
Accessed on 24 July
< http://www.btimes.com.my/Current_News/BT/Monday/Corporate/BT578538.txt/Article/ >

PHILIPPINES
Philippines to implement oil import tariff cut. Easybourse, 17 July 2006.
The Philippines Department of Energy announced a one percentage point reduction, to two per cent, in the import tariff on petroleum products to help ease the impact of rising world crude prices. The department said further reductions may be expected depending on the movements of oil prices in the world market.
Accessed on 18 July
< http://www.easybourse.com/Website/dynamic/News.php?NewsID=24871&lang=fra&NewsRubrique=2 >

Customs Bureau goes automated. PIA Information Service, 22 July 2006.
The Philippines has earmarked about P 500 million for the automation programme for its export transactions with the Bureau of Customs (BoC). The automation is expected to benefit the Government in savings of about tree per cent of the earnings of the bureau. The project, which is the single biggest information and communication technology (ICT) project of the Government, will be finished by the end of 2006 with two years coverage for maintenance. The connection will be in all ports of the country including sub ports and major ports.
Accessed on 24 July < http://www.pia.gov.ph/news.asp?fi=p060722.htm&no=08 >

RUSSIAN FEDERATION
Double-blind Customs control. Kommersant, 21 July 2006.
The Government has issued a new legislation that gives the Federal Customs Service (FCS) the exclusive right to define State policy on customs and frees it from administrative reform. Furthermore, for the first time in a federal body, its deputy head, who is in charge of criminal investigation, will no longer be subordinate to the head of FCS but will actually have power of control over the head. The deputy head of FCS is authorized to make independent decisions in questions of criminal investigation activities. The regulation also gives the green light to the nationalization of the customs infrastructure.
Accessed on 24 July < http://www.kommersant.com/page.asp?idr=527&id=691687 >

UNITED STATES OF AMERICA
United States removes certain countries from tariff preference list. USInfo, 30 June 2006.
The United States has determined that certain imports from selected developing countries should no longer be eligible for duty-free treatment under the Generalized System of Preferences (GSP), stating that imports from those countries could now compete effectively without preferences. As a result, American importers of those goods from the affected countries now must pay duties at normal tariff rates. Most affected by the decision are exports of dried guavas, mangoes and mangosteen fruits from the Philippines and Turkey’s exports of travertine stone, which is used for tiles. The decision followed a 2005 review of the GSP, which was established in 1974 to give developing countries duty-free access to the United States and promote economic development in those countries.
Accessed on 2 July
< http://usinfo.state.gov/xarchives/display.html?p=washfile-english&y=2006&m=June&x=20060630174545AKllennoCcM0.9725153 >

EU extends Asian poultry ban for another year. ABC Asia-Pacific, 5 July 2006.
The European Commission has strengthened measures to combat bird flu, extending an import ban on live birds and movement restrictions on pet birds entering the EU. A ban on the import of poultry products from China, Malaysia and Thailand will remain in place until the end of December 2007 due to the persistence of the disease. An embargo on poultry meat exports from Turkey will also be extended until the end of this year. Health experts fear the H5N1 strain of bird flu could mutate into a form that is transmitted more easily between humans. According to a global toll posted by the World Health Organization at the end of June 2006, there have been 228 human cases of infection, 130 of them fatal.
Accessed on 5 July < http://abcasiapacific.com/news/stories/asiapacific_stories_1678850.htm >

FIJI
Fiji lifts ban on Papua New Guinea corned beef. Pacific Islands Magazine, 10 July 2006.
Fiji announced that it had removed all restrictions on the importation of a certain type of corned beef produced by a Papua New Guinea-based company. It is the second major trade dispute involving Fiji to be resolved this year, following an agreement between Fiji and Vanuatu over the trade of biscuits and kava.
Accessed on 11 July < http://www.pacificislands.cc/pina/pinadefault2.php?urlpinaid=23197 >

NEW ZEALAND
50-year import ban on Australian honey lifted. New Zealand Herald, 12 July 2006.
Australian honey is to be allowed into New Zealand, breaking a ban of more than half a century. Honey imports have been banned for decades, except for small quantities from some Pacific islands, due fear of European foulbrood disease and nosema ceranae, a microsporidium pest. Honey from Western Australia, which does not have European foulbrood disease in its bees, will be now allowed to enter the country without treatment. Other Australian honey will have to be treated with heat and some other bee products may be treated with radiation as these treatments reduce the risk of European foulbrood disease and nosema ceranae.
Accessed on 12 July
< http://www.nzherald.co.nz/section/story.cfm?c_id=5&ObjectID=10390844 >

EU lifts ban on NZ butter imports. Stuff, 19 July 2006.
A temporary ban on New Zealand’s butter imports to the European Union has been lifted, enabling trade to continue uninterrupted, at least in the short term. The imports were stopped in mid July when a European Court of Justice ruling found that parts of New Zealand’s market access agreement were invalid. EU officials have now agreed to lift the ban until a permanent resolution is found, which is expected around October. Nearly a third of New Zealand’s butter exports, worth about $NZ 264 million, were jeopardized by the ban.
Accessed on 20 July
< http://www.stuff.co.nz/stuff/0,2106,3736726a3600,00.html >

PAKISTAN
25 per cent freight subsidy to diversify exports. Business Recorder, 18 July 2006.
Pakistan has announced that export to Africa, Central Asia, non-EU Eastern European countries and Pacific Islands will benefit from a 25 per cent freight subsidy under the modified freight subsidy scheme. The Government had already announced a 25 per cent freight subsidy on exports of new products and to new markets in 2002-2003. In 2005, a separate freight subsidy scheme was announced for leather garments up to 31 December 2005. The scheme is now continued in a modified form to cover products and countries for which Pakistan has identified a need for subsidy.
Accessed on 18 July
< http://www.brecorder.com/index.php?id=452941&currPageNo=1&query=&search=&term=&supDate= >

PHILIPPINES
Philippines to import more wheat and corn. All Headline News, 20 July 2006.
The Department of Agriculture (DA) has approved an increase in the import quota of wheat and corn as demand for the cereals is expected to rise because heavy floods and rains have damaged corn crops. The DA has increased the import quota to 216,940 tonnes at 35 per cent tariff. Imports exceeding the quota will be slapped a 50 per cent duty.
Accessed on 24 July < http://www.allheadlinenews.com/articles/7004276526 >

SOLOMON ISLANDS
Solomon Islands revokes logging export exemptions. Pacific Islands Development Program/East-West Center, 20 July 2006.
The Finance Minister of the Solomon Islands has revoked the ministerial endorsement for all outstanding exemptions from export duty on round logs. This means that all previously approved exemptions are now invalid and cannot be taken into account when an export duty liability is being assessed by Customs and Excise. Exemptions from export duty were intended to help local communities to foster reforestation and local development.
Accessed on 21 July < http://pidp.eastwestcenter.org/pireport/2006/July/07-21-02.htm >

SRI LANKA
Sri Lanka imports rice from Pakistan. Colombo Page, 10 July 2006.
Sri Lanka has decided to permit local rice merchants to import 9,337 tonnes of rice from Pakistan within the next six months. This importation has been allowed under the Pakistan-Sri Lanka Free Trade Agreement, according to which Sri Lanka has to import 6000 tonnes of rice per year from Pakistan. As Sri Lanka did not import the expected amount last year the balance is added to this year’s import quota.
Accessed on 11 July < http://www.colombopage.com/archive/July10131620SL.html >

UNITED STATES OF AMERICA
United States proposes new export restrictions on sales to China. USInfo, 7 July 2006.
The United States Commerce Department has proposed requiring American companies that export high-tech goods to China to verify that their products will not aid China’s military. The proposed rule is to achieve two objectives, namely to support American companies in competing in the vast Chinese market for civilian technology and preventing the export of technologies that contribute to China’s military modernization. The proposal will affect American companies that export items from a list of 47 product classifications including certain software, computers, machine tools, hydraulic fluids and aircrafts. Exporters of such items will be responsible for knowing their customers well enough to be sure that their product is not used in weapons. If companies cannot meet the standard, they will need a license to export these goods to China. Public comments on the proposal will be accepted until 3 November and will then be considered by the department before it issues a final rule.
Accessed on 10 July
< http://usinfo.state.gov/xarchives/display.html?p=washfile-english&y=2006&m=July&x=20060707121159berehellek2.431887e-02 >

VIET NAM
United States adjusts shrimp exporter list for tariff review. Than Hnien News, 15 July 2006.
The United States Department of Commerce (DOC) has changed the list of Vietnamese shrimp exporters to review anti-dumping tariffs against them. This change is due to the fact that three companies named in DOC’s June list subject for the review belonged to a list of 23 Vietnamese shrimp exporters that already reached an agreement with the United States Southern Shrimp Alliance (SSA). DOC will now consider Vietnamese exporter prices over the last year compared with prices when they first exported shrimp to the United States. Depending on the result of the investigation, it will then scrap the anti-dumping duty if the survey establishes that the enterprise did not dump. It will also determine average tariffs on other Vietnamese enterprises that export shrimp to the United States. The tariffs now range from 4.3 to 25.7 per cent.
Accessed on 17 July < http://www.thanhniennews.com/business/?catid=2&newsid=17739 >

ASSOCIATION OF SOUTHEAST ASIAN NATIONS (ASEAN)
ASEAN to harmonize electrical and electronics standards by 2008. Business.Balita.Ph, 10 July 2006.
The Association of Southeast Asian Nations is aiming to harmonize by 2008 its member-countries’ standards for about 300 electrical and electronic equipments and products. Harmonization will enable ASEAN countries to increase trade of such products within the region. Furthermore, as standards will be based on internationally accepted manufacturing criteria, harmonization will also help ASEAN nations penetrate markets outside the region.
Accessed on 11 July < http://biz.balita.ph/html/article.php/20060710202755089 >

BHUTAN
Forestry institute to start in 2008. Kuensel Online, 17 July 2006.
Bhutan has started construction the of the Ugyen Wangchuck Environmental and Forestry Institute at Lamigoemba, Bumthang. The institute is expected to be up and running by 2008. In the initial year the institute will offer diploma and certificate courses for forest guards and rangers to meet the shortage of skilled manpower in the forestry sector. The long-term vision is to make the institute regionally competitive and credible with the capacity to train people both at the national and international level.
Accessed on 18 July
< http://www.kuenselonline.com/modules.php?name=News&file=article&sid=7215 >

CHINA
Energy list to encourage sustainable growth. Gov.cn, 4 July 2006.
In a drive to promote sustainable growth China published a list of coal and electricity consumption for every province, autonomous region and municipality. The list, compiled by the National Development and Reform Commission (NDRC), the National Bureau of Statistics and the National Energy Leading Group Office measures how much energy was consumed per 10,000 yuan renminbi of gross domestic product (GDP) in 2005. It also includes energy consumption figures for every 10,000 yuan renminbi of industrial added value. The list aims to help provincial officials compare themselves with other regions and push them to improve efficiency. Officials will be assessed in terms of energy saved, instead of just GDP growth rate which they were measured on in the past. The current energy consumption per unit of GDP in China is about three times that of the United States and 10 times that of Japan.
Accessed on 4 July < http://english.gov.cn/2006-07/04/content_326702.htm >

FIJI
Cabinet approves rice joint venture with China. Fiji Government Online Portal, 17 July 2006.
Fiji has approved a joint venture with a Hunan Province of China-based rice company, for the development of a detailed action plan on rice revitalization in Fiji. Hunan Province of China is the largest producer of rice in China and the selected company is one of the largest rice companies in the Province. The Government of Fiji, through a rice task force, is currently undertaking a number of initiatives aimed at consolidating the activities of the rice industry in the north of Fiji and map out the strategies to be undertaken to ensure sustainability in the long term.
Accesed on 21 July < http://www.fiji.gov.fj/publish/page_7088.shtml >

INTERNATIONAL TELECOMMUNICATION UNION (ITU)
Stepping up communications for disaster mitigation and relief. ITU, 10 July 2006.
The International Telecommunication Union in collaboration with a satellite telecommunications company has concluded an agreement to provide portable satellite terminals to assist countries in disaster mitigation and relief. The United Arab Emirates-based satellite company, is contributing handheld satellite terminals along with solar chargers; while ITU will pay for airtime at discounted rates offered by the company and cover the transportation costs of telecommunications equipment to and from disaster-hit areas. ITU will also provide its expertise in technical and operational training for Government officials involved in rescue missions. In the light of a spate of natural disasters and calamities in recent times, the World Telecommunication Development Conference (WTDC-06) meeting in Doha in March 2006 called upon ITU to develop ICT-based solutions in emergency telecommunications directed at improving early-warning communication, disaster preparedness and mitigation. Access to information is of paramount importance in the immediate aftermath of a disaster for relief agencies to coordinate search-and-rescue, medical intervention and rehabilitation efforts.
Accessed on 21 July < http://www.itu.int/newsroom/press_releases/2006/12.html >

KAZAKHSTAN
Kazakhstan and the Russian Federation signed declaration on cooperation in gas processing. Kazinform, 17 July 2006.
Within the framework of the Group of Eight (G8) Summit in Saint Petersburg, Kazakhstan and the Russian Federation signed a joint declaration on development of long-term cooperation in the sphere of gas processing of the Karachaganak field. The Karachaganak oil-gas condensate field is one of the largest in the world. Its resources amount more than 1.2 billion tonnes of liquid hydrocarbons and 1.3 trillion cubic metres of gas.
Accessed on 18 July < http://www.inform.kz/showarticle.php?lang=eng&id=143400 >

MALAYSIA
Malaysia and Indonesia pact on crude palm oil allocation for biodiesel. Business Times, 21 July 2006.
Malaysia and Indonesia have agreed to set aside 40 per cent of their respective production of crude palm oil (CPO) in a year for biodiesel, committing to six million tonnes of their respective yearly 15 million tonnes production of CPO. The commitment should provide biodiesel investors with some assurance of adequate raw material supply. The six million tonnes of CPO is a moral pledge between the two Governments, no legal implications are involved should biodiesel usage fall below or shoot above this level.
Accessed on 21 July
< http://www.btimes.com.my/Current_News/BT/Friday/Nation/BT578180.txt/Article/ >

SRI LANKA
China and Sri Lanka to enhance energy exploration. South Asian Media, 17 July 2006.
China and Sri Lanka have decided to enhance technical cooperation, particularly in the field of energy exploration. Sri Lanka has allocated an exploration block in the Mannar Basin to China for exploration of petroleum resources. Furthermore, consultations are being undertaken to work out mutually acceptable facilities for financing of projects such as coal power project in Puttalam, the airport and the oil storage bunkering port of Hambantota in Sri Lanka.
Accessed on 18 July
< http://www.southasianmedia.net/index_story.cfm?id=310187&category=Frontend&Country=MAIN >

VIET NAM
Viet Nam and United States strengthen health and medical science ties. Than Hnien News, 21 July 2006.
Viet Nam and the United States have signed an agreement to share knowledge and resources in an effort to continue fighting avian flu and AIDS. The agreement includes exchanges of technical expertise and the development of rapid response plans for Viet Nam. It will also encourage and facilitate the development of direct contacts and cooperation among Government agencies, universities, research centers, institutions, private sector companies and other entities.
Accessed on 24 July < http://www.thanhniennews.com/politics/?catid=1&newsid=17972 >

CHINA
Investors can buy Chinese shares with loans. China Economic Net, 3 July 2006.
Starting in August, China will allow investors to take out loans to buy shares and to sell borrowed stock. Under a trial programme, brokerages must have net assets of at least 1.2 billion yuan renminbi in the past six months to qualify for a license to offer these services. Furthermore, they must have been in operation for three years and be endorsed by the China Securities Association. The move targets at generating income for brokerages and boost funds available for investment after the Government in May ended a yearlong ban on public share sales, paving the way for offerings by companies. China wants to bring its stock market in line with global practices and sustain a recovery in benchmark indexes from eight-year lows last year.
Accessed on 4 July < http://en.ce.cn/Markets/Equities/200607/03/t20060703_7591971.shtml >

Rules on investment of major State-owned enterprises issued. China View, 6 July 2006.
China has issued its first regulation to standardize the investment activities of the 166 major State-owned enterprises (SOEs) under the State-owned Assets Supervision and Administration Commission. The regulation describes the “significant responsibility” of the commission to supervise the investment activities of major SOEs. The regulation will apply only to the most frequent activities such as investment in fixed assets, property rights purchases and investment in long-term stockholder’s rights. Other activities, especially complicated monetary investment, will be standardized through other regulations.
Accessed on 18 July < http://news.xinhuanet.com/english/2006-07/06/content_4802718.htm >

China to build credit database to help banks. Sina, 20 July 2006.
The central bank of China has issued rules to help set up a unified credit database on corporate borrowers to help banks evaluate risk. The database is intended to help promote the development of the credit system, maintain financial stability and prevent lending risk. The central bank will be responsible for building and maintaining the database, which will pool credit information on corporate borrowers from commercial lenders. Commercial banks will in turn use the corporate database to check the credit worthiness of borrowers once it was completed. In January 2006, the central bank formally launched a nationwide database to help banks check people seeking consumer loans.
Accessed on 21 July < http://english.sina.com/business/1/2006/0719/83821.html >

INDIA
Gujarat announces incentives for hospitality investors. Express Travel World, July 2006.
Gujarat Tourism has announced plans to invite private players for boosting the State’s tourism industry. It has extended invitation to the private sector to operate State-owned hotels as well as invest in new properties, exempting investors for the latter from luxury tax, entertainment tax, stamp duty and electricity duty.
Accessed on 19 July < http://www.expresstravelworld.com/200607/market21.shtml >

INTERNATIONAL FINANCE CORPORATION (IFC)
Banks adopt fortified green principles. WBCSD, 6 July 2006.
More than 40 international financial institution, including the global heavyweights, have signed an updated set of environmental and social safeguards that binds them to shoulder more responsible lending in the future. Under the programme, the signatories commit to financing only those projects that comply with the Equator Principles (EP), a set of voluntary environmental and social standards that seek to uphold the rights of people displaced by projects and to protect endangered ecosystems. The Equator Principles, named for the geographic region below the equator where developers traditionally had disregarded the social and environmental impacts of their projects, derive from the newly recast environmental and social performance standards of the IFC. Although the commercial banks have been using the IFC’s environmental and social standards as the benchmark for their project lending since 2003, they have now accepted the whole host of new IFC guidelines that were crafted in February. The new guidelines differ from those in 2003 in that they require companies to integrate environmental and social considerations in their management systems and have expanded to cover financial advising for projects and not just loans.
Accessed on 10 July
< http://www.wbcsd.org/Plugins/DocSearch/details.asp?DocTypeId=32&ObjectId=MTk1OTk&URLBack >

JAPAN Bank of Japan decides to set up tighter staff investment rules. Easybourse, 7 July 2006. The Bank of Japan (BOJ) has decided to set up tighter new restrictions on personal investments by its senior officials. The central bank hopes to create the new rules by the end of July at the latest, based on a proposal submitted by a panel of experts. The panel, charged with revising internal BOJ rules on how to oversee its employees' personal investments, urged the central bank to require members of the nine-member board to disclose their asset portfolios. Under the panel's proposal, BOJ executives will be prohibited from trading stocks, bonds and most other types of assets, including privately placed funds. Accessed on 24 July
< http://www.easybourse.com/Website/dynamic/News.php?NewsID=17305&lang=fra&NewsRubrique=2 >

MALAYSIA
Kuala Lumpur bourse plans regional links. International Herald Tribune, 3 July 2006.
The Malaysian Stock Exchange is considering forming trading links with rivals in ASEAN to woo investors and increase transaction income. Across the United States and Europe, exchanges are merging to reduce costs and make it easier to buy and sell stocks in different countries. A Southeast Asian trading link may help smaller exchanges trim expenses, attract foreign investors and compete with the emerging markets of China and India.
Accessed on 4 July < http://www.iht.com/articles/2006/07/03/bloomberg/sxbursakl.php >

Bursa Malaysia enhances investor relations with new policy. Antara News, 25 July 2006.
The Malaysian Stock Exchange has unveiled its new Investor Relations (IR) Policy in a move towards enhancing IR practices. The new policy strengthens the exchange's commitment to IR as an important vehicle for communicating to shareholders, stakeholders and investors. The move was explained that as there was a move towards an environment which demanded greater disclosure and corporate accountability, it was important that public-listed companies (PLCs) knew how to effectively manage and disseminate corporate information as well as communicate to all relevant stakeholders.
Accessed on 26 July < http://www.antara.co.id/en/seenws/?id=17035 >

PHILIPPINES
Council wants simplified taxes on capital market. Inquirer, 29 June 2006.
The Capital Market Development Council (CMDC), tasked with formulating ways to develop the capital market, has submitted a programme to the Department of Finance calling for simplification of taxes on the financial sector to invigorate the market. According to CMDC, there currently exist several taxes on the financial sector that discourage investors.
Accessed on 4 July
< http://business.inq7.net/money/topstories/view_article.php?article_id=7156 >

REPUBLIC OF KOREA
Republic of Korea eases regulations on remittances to the Democratic People's Republic of Korea. Yonhap News Agency, 4 July 2006.
Companies from the Republic of Korea will be able to make remittances to their operations in Kaesong without having to make a prior report to the authorities in the Republic of Korea. The Ministry of Finance explained that it had amended regulations governing remittances to the People's Democratic Republic of Korea to help that country's companies operating in the inter-Korean industrial complex in Kaesong.
Accessed on 4 July
< http://english.yna.co.kr/Engnews/20060704/440100000020060704094150E1.html >

VIET NAM
New laws open doors for foreign enterprises. VietNamNews, 3 July 2006.
Viet Nam's new laws on investment and business operations have taken effect. As of 1 July, both foreign and domestic investors fall under the governance of the same Enterprise Law and the Investment Law. Foreign investors can now engage in any sort of business activity not classified as off-limits by the laws. Before that, they were licensed on a case-by-case basis and could only operate as far as their licenses permitted. Domestic entrepreneurs had enjoyed that right as far back as in 2000 when the former Enterprise Law fostered the birth of thousands of companies overnight.
Accessed on 4 July
< http://vietnamnews.vnagency.com.vn/showarticle.php?num=01BUS030706 >

China and India reopened the Nathu-la Pass, once part of the ancient Silk Road that linked the two. The pass has now been reopened for local trade, 44 years after it was shut during a brief but fierce border war. The mountain pass, at a height of 4,545 meters connects Yadong County with the northeast Indian state of Sikkim.

Read the whole report from the International Herald Tribune:
< http://www.iht.com/articles/2006/07/06/business/silk.php >
Accessed on 10 July

… China is now the 4th largest economy?

China has overtaken the United Kingdom of Great Britain and Northern Ireland by the tiniest of margins to become the world's fourth-largest economy.

Read the whole report from China Economic Net:
< http://en.ce.cn/Business/Macro-economic/200607/04/t20060704_7602387.shtml >
Accessed on 4 July

... Singapore has signed the latest UN convention to boost e-commerce?

Electronic commerce in Singapore will now benefit from even greater legal and business certainties after Singapore signed the latest Convention by the United Nations Commission on International Trade Law (UNCITRAL). The Convention aims to further facilitate electronic commerce by building upon earlier UNCITRAL instruments such as the model law on electronic commerce.

Read the whole report from Channel News Asia:
< http://www.channelnewsasia.com/stories/singaporebusinessnews/view/217649/1/.html >
Accessed on 18 July

… the EU has applied for SAARC observer status?

The European Union has formally applied to the South Asian Association for Regional Cooperation (SAARC) Secretariat in Dhaka for being granted observer status.

Read the whole report from Daily India:
< http://www.dailyindia.com/show/44902.php/EU_applies_for_SAARC_observer_status >
Accessed on 24 July

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