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BRUNEI DARUSSALAM
Tariff exemption for more than 200 Myanmar products. Brunei Direct, 26 June 2007.
Brunei Darussalam has exempted tariff on more than 200 products imported from Myanmar in a bid to boost bilateral trade. The tariff exemption applies to products, such as cosmetics, wood products, carpets, clothes, fabrics, jewelry (excluding diamonds), electrical appliances and musical instruments, with local raw materials. Products made with foreign raw materials, the exemption is qualified only for those using at least 40 per cent of local contents. The move comes under the Association of Southeast Asian Nations (ASEAN) Integration System of Preference programme, initiated in 2001, which aims at better integrating the economy of the four newest ASEAN members - Cambodia, Lao People’s Democratic Republic, Myanmar and Viet Nam.
Accessed on 29 June
< http://www.brudirect.com/DailyInfo/News/Archive/June07/260607/nite08.htm >

FIJI
Fiji-China business council launched. Pacific Magazine, 23 July 2007.
Fiji and China have set up a Fiji-China business council aiming at increased trade with and investment linkages between the two countries, including in the area of tourism. The Fiji Immigration Department recently relaxed visa requirements for Chinese citizens, to attract more Chinese tourists. The interim Government is also actively pursuing enhanced level of developmental collaboration with China, in particular a number of proposals to seek developmental and soft loan funding from China to assist with upgrading rural roads and maritime transportation, provide low cost housing to squatters, improve water supply and revitalize Fiji’s agricultural sector.
Accessed on 23 July
< http://www.pacificmagazine.net/news/2007/07/23/fiji-china-business-council-launched >

INDIA
India signs accord on trans-Asian railway network. The Hindu, 1 July 2007.
India on 29 June signed the inter-governmental agreement on the trans-Asian railway that proposes to connect 28 nations. The network covers 80,900 km of rail lines, including 22,600 km in South Asia, the Islamic Republic of Iran and Turkey. The southern corridor begins in Kunming in China and Bangkok in Thailand and ends in Kapikule in Bulgaria. The total length of the route between Bangkok and Kapikule is 11,460 km and it provides trans-continental connectivity to China, Thailand, Myanmar, Bangladesh, Pakistan, India, Islamic Republic of Iran and Turkey. Apart from strengthening rail links in the northeast, the new network will give India an opportunity to strengthen ties with southeast Asian nations. It will improve transport between Asia and Europe, facilitating movement of goods and containers between countries of the South Asian Association for Regional Cooperation (SAARC) and ASEAN.
Accessed on 4 July
< http://www.hindu.com/2007/07/01/stories/2007070150650900.htm >

INDONESIA
Indonesia and Japan agree to sign FTA. Bilaterals, 6 July 2007.
Indonesia and Japan have agreed to sign a bilateral free trade agreement (FTA) when the Prime Minister of Japan visits Indonesia in August. The FTA will eliminate tariffs on about 92 per cent of bilateral trade by value. It features an energy security partnership between the two countries and immediate removal of Indonesian tariffs on high-grade Japanese steel products. Regarding trade in goods and services, Indonesia will erase tariffs on large Japanese automobiles by 2012 and on small and midsized vehicles by 2016. It will eliminate tariffs on auto parts by 2012. Indonesia will also eliminate tariffs on Japanese electric and electronic products by 2010 and eventually remove tariffs on some 96 per cent of Japanese exports in value terms. Japan will immediately remove tariffs on forest products, shrimp and almost all industrial products from Indonesia as well as tariffs on up to 1,000 tonnes of bananas per year in five years. With the steps, Japan will erase tariffs on about 93 per cent of Indonesian exports.
Accessed on 9 July < http://www.bilaterals.org/article.php3?id_article=8928 >

JAPAN
Japan eyes FTAs with United States and EU. Bilaterals, 14 July 2007.
The Ministry of Economy, Trade and Industry (METI) has released an annual report on international trade specifying Japan’s policy of reviving preparations for future talks with the United States and the European Union on concluding free-trade agreements. The report also stresses the need to “aggressively pursue” investment accords with other countries. At present, Japan has bilateral investment pacts with 11 countries, while other countries as China, France, Germany and the United Kingdom each have such pacts with about 100 countries. METI is considering launching joint bilateral private-sector studies with the United States and the EU on the FTA issue as early as September. These private-sector studies are intended to pave the way for official Government-to-Government negotiations.
Accessed on 16 July < http://www.bilaterals.org/article.php3?id_article=8973 >

MALAYSIA
Syria proposes FTA talks with Malaysia. Bilaterals, 3 July 2007.
Syria has proposed negotiations on a Malaysia-Syria free trade agreement during the first joint trade commission meeting. It was agreed that a study would be carried out on the proposal. The study is expected to be completed by January 2008. In 2006, Syria was Malaysia’s 11th largest trading partner in West Asia with total trade between both countries valued at M$ 578.3 million.
Accessed on 4 July < http://www.bilaterals.org/article.php3?id_article=8906 >

PACIFIC ISLANDS
Economic ministers endorse forum action plan 2007. Pacific Magazine, 12 July 2007.
The 11th Forum Economic Ministers Meeting (FEMM) held in Palau from 10 to 12 July has endorsed the 2007 forum economic action plan. The ministers reaffirmed their responsibility to provide leadership on regional economic integration and agreed that FEMM must facilitate the implementation of the Pacific Plan in the areas pertaining to economic growth and good governance. The meeting was attended by representatives from Australia, Cook Islands, Fiji, Kiribati, Marshall Islands, Nauru, New Zealand, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu.
Accessed on 12 July
< http://www.pacificmagazine.net/news/2007/07/12/ >

PALAU
Palau establishes diplomatic relations with Indonesia. Pacific Magazine, 21 July 2007.
Palau and Indonesia have established diplomatic relations. The Minister of State of Palau expressed optimism that recognition would lead to a possible shipping route between the two countries via the Philippines as well as increased foreign investment and tourist arrivals. Indonesia is the 42nd nation to have diplomatic relations with Palau.
Accessed on 23 July
< http://www.pacificmagazine.net/news/2007/07/21/ >

RUSSIAN FEDERATION
Indo-Russian joint study group proposes to boost bilateral trade. Bilaterals, 12 July 2007.
The Indo-Russian joint study group (JSG) has finalized its report proposing a set of recommendations to boost bilateral trade to US$ 10 billion in two years. A commerce secretary-level joint task force (JTF) will be set up by the end of 2007 to monitor the implementation of the JSG report with the ultimate goal of concluding a Comprehensive Economic Cooperation Agreement (CECA) and FTA between the two countries when the Russian Federation joins the World Trade Organization.
Accessed on 12 July < http://www.bilaterals.org/article.php3?id_article=8960 >

SHANGHAI COOPERATION ORGANIZATION
China ratifies treaty on good-neighborly ties with Tajikistan. People’s Daily online, 30 June 2007.
China’s National People’s Congress (NPC) approved the country’s good-neighborly treaty with Tajikistan. China has established good-neighborly ties with all five other Shanghai Cooperation Organization (SCO) member countries. Under the treaty, China and Kazakhstan will enhance the fight against terrorism, separatism, extremism, organized crime, illegal migration, weapon and drug trafficking. The SCO, founded in Shanghai in 2001, comprises six member countries, namely China, Kazakhstan, Kyrgyzstan, the Russian Federation, Tajikistan and Uzbekistan. It pledges to enhance security, trade, cultural, military and justice cooperation among member countries.
Accessed on 4 July < http://english.people.com.cn/200706/30/eng20070630_388909.html >

TURKMENISTAN
Turkmenistan and Afghanistan set up joint intergovernmental commission. Turkmenistan.ru, 7 July 2007.
Turkmenistan and Afghanistan have signed a joint statement after concluding high-level talks which focused on issues of trade and economic relations. The presidents of both countries agreed to set up a joint intergovernmental commission on economic cooperation with a view to enhancing economic relations between the two countries. They also agreed to instruct the relevant bodies to continue work on the expansion of the legal basis of cooperation between the two countries and noted the importance of preparing the agreements on consular issues, culture and education, opening the air communication between Ashgabat and Kabul, motor transportation of passengers, and development of cooperation between the law enforcing agencies.
Accessed on 9 July
< http://www.turkmenistan.ru/ >

HONG KONG, CHINA
Hong Kong, China and China sign customs pact. News.gov.hk, 28 June 2007.
Hong Kong, China and China customs departments have signed a pact to strengthen cooperation and enhance efficiency in customs clearance at the new Shenzhen Bay Port control point. The arrangements took effect after the port started operation on 1 July. Under the pact, both parties will establish a customs clearance coordination centre and an anti-smuggling coordination centre for on-site operations and intelligence exchange. They will mutually recognize the ‘Customs Green Seals’ applied to inspected vehicles to minimize double examination and they will also exchange X-ray images and information on passenger and vehicle flow.
Accessed 29 June
< http://www.news.gov.hk/en/category/lawandorder/070628/html/070628en08001.htm >

INDIA
Government plans to slash customs duty in step with ASEAN rates. Financial Express, 3 July 2007.
India will further cut customs tariffs to get them closer to the duty rates of ASEAN. It plans to not only cut down the present peak rate of 10 per cent, but also to reduce duty on raw materials and intermediaries below the present rates of 5 per cent and 7.5 per cent. At present, India has an average industrial tariff of 9.4 per cent, which is higher than the ASEAN’s average rates: Philippines has an average industrial tariff of 6.3 per cent, Indonesia 6.9 per cent and Malaysia 8.4 per cent. The Government has already cut the peak rates by 2.5 per cent in this Budget and, in fact, has reduced duties by as much as 150 per cent since 1991.
Accessed on 4 July < http://www.financialexpress.com/fe_full_story.php?content_id=168892 >

India scraps additional customs duty on liquor; ups basic duty on wine. Forbes, 4 July 2007.
India has withdrawn the additional customs duty levied on imported liquor, wine and beer, but has increased the basic customs duty on wines from 100 per cent to 150 per cent – the ceiling imposed by the World Trade Organization. Spirits and liquor will continue to attract the basic customs duty of 150 per cent. The move came days ahead of the meeting of a WTO panel to mull a series of complaints made by the European Union and the United States regarding India’s tariff structure for imported wines and liquors. Australia, Chile and Japan have also lodged protests against the tax structure.
Accessed on 5 July < http://www.forbes.com/markets/feeds/afx/2007/07/04/afx3883404.html >

KAZAKHSTAN
Senate amended bill on simplification of customs, tax procedures. Kazinform, 27 June 2007.
The Kazakh Senate’s Committee for Economy, Finance and Budget has adopted and submitted to the plenary session of the House amendments to some legislative acts of Kazakhstan regarding simplification of the customs and tax procedures. The bill was elaborated in order to specify the competence of the central executive body and its departments and to improve customs and tax procedures.
Accessed on 29 June < http://www.inform.kz/showarticle.php?lang=eng&id=153011 >

NEW ZEALAND
New Zealand and United States Customs sign mutual recognition arrangement. Scoop, 2 July 2007.
New Zealand and the United States have taken a major step towards securing global trade with the signing of a mutual recognition arrangement. Under this arrangement, the United States recognizes New Zealand exporters who have signed up to Customs voluntary Secure Exports Scheme (SES), as ‘low risk’ trading partners. The arrangement is a “world first” under the World Customs Organization’s trade security standards framework. Currently 140 countries have signed up to this framework but only New Zealand and the United States have taken it to this level. Customs developed the trade security initiative in response to overseas markets tightening their border controls following the events of 9/11. Under the arrangement, SES partners will receive cargo facilitation benefits for goods exported to the United States. The benefits may include predictability in their supply chain, reduced levels of security inspection of containers, priority attention when selected for security inspection, and priority clearance at times of disruption to border operations.
Accessed on 3 July < http://www.scoop.co.nz/stories/PA0707/S00012.htm >

RUSSIAN FEDERATION
Russian Federation to increase tariff on wood. Seanews, 2 July 2007.
Effective from 1 July, the Russian Federation has started to increase export tariffs on wood. In July 2007, the tariff will total 20 per cent of the customs cost, but not less than 10 euros per cubic meter, in April 2008 it will total 25 per cent of the customs cost, but not less than 15 euros per cubic meter and in January 2009, it will be 80 per cent but not less than 50 euro per cubic meter.
Accessed on 4 July < http://www.seanews.ru/default.asp?l=e&a=l&v=d&g=1&i=33266&n=1 >

Customs service opens new clearing centres. Kommersant, 10 July 2007.
The number of customs divisions that clear imports and exports has been raised from currently 70 to 170. According to the Customs Code, the Federal Customs Service has the exclusive right to clear imports and exports, and it has 70 clearing points. Now, all customs checkpoints on the border will have that same right with the intention to encourage exports in the manufacturing and processing sector of the economy. Central Fuel Customs and Central Excise Customs (for the export of tobacco products, alcohol and gasoline) will remain the exclusive clearers of the products they control.
Accessed on 11 July < http://www.kommersant.com/p781321/exports_duties_fees >

THAILAND
Thailand to cut tariff on Malaysian cars. Bangkok Post, 29 June 2007.
The Thai Cabinet agreed to slash Thailand’s import tariff on Malaysian cars in line with the ASEAN Free Trade Area (AFTA). The move came after Malaysia had abolished its own trade restrictions protecting its automotive sector.
Accessed on 29 June
< http://www.bangkokpost.com/breaking_news/breakingnews.php?id=119723 >

TURKEY
Turkey agrees on preferential trade with 18 Muslim countries. TurkishPress.com, 25 June 2007.
Turkey has reached an accord on preferential trade with 18 member countries of the Organization of the Islamic Conference (OIC). A meeting between technical committees reached an agreement on rules of origin and also discussed lifting non-tariff barriers. The official document on the agreement is set to be signed in September.
Accessed on 29 June
< http://www.turkishpress.com/ >

CHINA
China suspends imports of some frozen meat from Philippines, United States and Viet Nam. Channel News Asia, 15 July 2007.
China has suspended the imports of frozen chicken feet, pig ears and other animal parts from 10 companies in the Philippines, the United States and Viet Nam after inspectors found traces of chemicals and dangerous bacteria. China’s safety standards have come under sharp international criticism amid regular reports of fake or dangerous goods emanating from the nation’s food and drug industry. Reports in the United States of tainted pet foods, dangerous toys, drugs, fish, cosmetics and other products from China have led to a spate of recalls and bans there. Chinese officials have blamed foreign media for exaggerating the issue but have also admitted there is a serious problem with food hygiene and safety standards.
Accessed on 16 July
< http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/288257/1/.html >

EUROPEAN UNION
EU suspends WTO complaint against India. EU Business, 16 July 2007.
The European Union said it was temporarily suspending its WTO complaint against India’s import duties on alcoholic drinks after India cut some of the tariffs. However, the EU indicated that it wanted to maintain pressure on India over some unresolved details for the coming months. It underlined that the WTO panel would remain in place, even if its work is suspended, for up to one year. The EU first lodged its formal complaint against India in December 2006. India still faces similar WTO action by the United States.
Accessed on 17 July < http://www.eubusiness.com/Finance/1184583611.84 >

EU to ban mercury exports in 2011. Forbes, 28 June 2007.
European Union Governments have agreed to ban mercury exports from the bloc starting from 2011. The EU is also moving to ban the use of mercury in devices such as thermometers and barometers. Europe’s chlor-alkali industry, which uses mercury to extract simple chemicals such as salts and hydrogen, has pledged to stop using the metal by 2020.
Accessed on 23 July < http://www.forbes.com/feeds/ap/2007/06/28/ap3868376.html >

INDIA
Dumping duty imposed on CD-Rs from China; Hong Kong, China; Singapore and Taiwan Province of China. Economic Times, 6 July 2007
India has imposed anti-dumping duty on imports of compact discs-recordable (CD-Rs) from China; Hong Kong, China; Singapore and Taiwan Province of China. The central board of excise and customs has notified the imposition of anti-dumping duty in the range of US$ 0.050 to US$ 0.099 per piece.
Accessed on 9 July
< http://economictimes.indiatimes.com/News/ >

MALAYSIA
Government warns certificate of origin abusers. The Star, 11 July 2007.
The Government will blacklist and impose anti-dumping duties on companies found forging or abusing certificates of origin. In a move to check such misconduct, the Ministry of International Trade and Industry also warned that it could withdraw the authorities of business chambers and trade associations that were found to have negligently authorized forged certificates of origin. Since July 2006, 31 companies have been blacklisted for forging documents and using them for transshipment purposes.
Accessed on 11 July
< http://biz.thestar.com.my/news/story.asp?file=/2007/7/11/business/18266836&sec=business >

REPUBLIC OF KOREA
Republic of Korea bans Chinese fish with traces of unauthorized antimicrobial substance. Yonhap, 15 July 2007.
The Republic of Korea has banned the import of products from a Chinese fish farm that used unauthorized antimicrobial substances. The Ministry of Maritime Affairs and Fisheries said it found traces of enrofloxacine and ciprofloxacine in products shipped by the fish farm. Both substances have been cited by the United States Food and Drug Administration (FDA) for being hazardous to human health. The United States has banned all fish from China that were found to have traces of these compounds. This latest ban brings to 34 the number of Chinese fish farms that cannot export to the Republic of Korea. Under a bilateral agreement, the Republic of Korea has the right to impose an import ban on fish that have been found to contain harmful substances. The ban can be lifted if the cause of the trade restriction has been resolved.
Accessed on 16 July
< http://english.yonhapnews.co.kr/business/2007/07/15/ >

RUSSIAN FEDERATION
Russian Federation suspends livestock imports from 78 foreign meat farms. Itar-Tass, 13 July 2006.
The Russian Federation has introduced temporary restrictions on livestock imports from 78 foreign meat farms, explaining that the enterprises exported products in violation of the Russian veterinary and sanitary legislation. Restrictions were imposed on meat processing enterprises from Argentina, Brazil, Belarus, China, Chile, European Union, India, Moldova, Republic of Korea, Ukraine, United States, Uruguay and Viet Nam. The main reason for the restrictions is the bacterial infection of the products mostly with salmonella, listeria, colibacillus bacteria, and staphylococcus, as well as impurities of heavy metal salts, mostly of mercury.
Accessed on 16 July
< http://www.itar-tass.com/eng/level2.html?NewsID=11714107&PageNum=0 >

UKRAINE
Ukraine lifts ban on poultry import from Turkey. NRCU, 4 July 2007.
Ukraine has lifted a ban on poultry import from Turkey. According to the latest data, Turkey managed to cope with bird flu spread on its territory. Meanwhile, Ukraine permitted poultry import from Turkey under keeping to all the rules. The State Department of Veterinary Service imposed a ban on poultry import from Turkey in October 2005.
Accessed on 5 July < http://www.nrcu.gov.ua/index.php?id=148&listid=47859 >

UNITED STATES OF AMERICA
FDA detains imports of farm-raised Chinese seafood. FDA, June 28, 2007.
The Food and Drug Administration (FDA) announced a broader import control of all farm-raised catfish, basa, shrimp, dace and eel from China. FDA will start to detain these products at the border until the shipments are proven to be free of residues from drugs that are not approved in the United States for use in farm-raised aquatic animals. During targeted sampling from October 2006 through May 2007, FDA repeatedly found that farm-raised seafood imported from China were contaminated with antimicrobial agents that are not approved for this use in the United States.
Accessed on 3 July < http://www.fda.gov/bbs/topics/NEWS/2007/NEW01660.html >

CHINA
China tightens approval of new medicines. China Daily, 12 July 2007.
China’s State Food and Drug Administration (SFDA) has announced stricter rules for approving new medicines. The announcement came a day after its former chief was executed after being found guilty of taking bribes to approve substandard and fake medicines blamed for at least 10 deaths. Effective from 1 October 2007, the regulation aims to make the drug registration and approval process transparent and curb power abuse and corruption. A collective decision - instead of a single person or department as was the previous practice - has to be made by a special panel before the green light is given to a new drug. Local watchdogs will be authorized to conduct preliminary approval procedures to increase efficiency. Companies found to have provided false information or samples will not be allowed to apply for up to three years. The SFDA will also make surprise spot checks on drug producers.
Accessed on 12 July
< http://www.chinadaily.com.cn/china/2007-07/12/content_5433214.htm>

20 billion yuan renminbi for eco-protection in Tibet. CRI, 15 July 2007.
China plans to invest more than 20 billion yuan renminbi to protect the eco-system on the Tibet plateau. The plan covers a dozen projects listed under the current programme on protection and construction of the eco-system on the Tibet plateau, a main part of the Qinghai-Tibet Plateau, dubbed the “roof of the world”. These projects include construction of nature reserve, protection of natural forest, restoration of grassland and pasture, harnessing and prevention of desertification and prevention of geological disasters. The plateau boasts a wide range of plants and vegetation due to diverse landforms and weather conditions. Tibet is a region with large biological diversity and is a major gene bank ensuring global biodiversity.
Accessed on 16 July < http://english.cri.cn/2946/2007/07/15/65@249905.htm >

EUROPEAN UNION
EU seeks to dominate mobile video with single standard. EUbusiness, 16 July 2007.
The European Commission wants to boost Europe’s position in the fast-emerging market for mobile television technology by pushing for a single European standard. The Commission plans to propose that digital video broadcasting for handhelds (DVB-H) technology be included on its list of standards in order to encourage its use across Europe. If DVB-H, which allows videos to be played over mobile telephones, is slow in being taken up, the Commission could make it the sole standard allowed to be used in Europe in 2008. The Commission hopes that by imposing a single standard Europe would get an edge in the new technology like it did when the GSM standard emerged at the end of the 1980s. Which standard is taken up could have huge consequences for the industry with the market for mobile TV estimated to be worth 20 billion euros by 2011 and reaching 500 million viewers worldwide. Such mobile television services have been available in the United States from 2003 and from 2005 in the Republic of Korea. In Europe, such services are only available in Finland, France, Germany and Italy. So far the technology has had the most success in the Republic of Korea where the market penetration rate reaches 10 per cent, compared with only one per cent in Italy, where it is most developed in Europe.
Accessed on 17 July < http://www.eubusiness.com/Media/1184608801.6 >

INDIA
Cyber law ready. The Telegraph, 15 July 2007.
The Ministry of Information Technology has drafted the national cyber security strategy to help counter cyber fraud. The draft will be tabled at an apex council comprising the National Information Board, National Security Council and the Cabinet Secretariat and is currently circulating within the Department of Information Technology.
Accessed on 16 July
< http://www.telegraphindia.com/1070715/asp/business/story_8060946.asp >

NORTHERN MARIANA ISLANDS
Northern Mariana Islands telecom introduces ‘GSM’ phone service. Pacific Islands Development Program/East-West Center, 3 July 2007.
Northern Mariana Islands telecom has launched its US$ 1.6 million Global System for Mobile Communications (GSM) network, giving customers greater ease in connecting with friends, business associates, and families locally and around the world, especially in countries using GSM technologies. It allows customers to connect to what has become the world standard for mobile communication. GSM is used throughout Asia, Europe, the Middle East, and South America, as well as partially in the United States. GSM technology allows the use of SIM cards, which encrypt voice and data so that the subscriber can be identified and authenticated to the network. A SIM card can be transferred from one phone to another, and different SIM cards can be inserted into any GSM phone. The SIM card also stores data such as personal phone settings and phone numbers.
Accessed on 4 July < http://pidp.eastwestcenter.org/pireport/2007/July/07-03-10.htm >

PHILIPPINES
Philippines approves 41 transgenic crop varieties. The truth about trade and technology, 6 July 2007.
The Philippines has so far approved 41 varieties of genetically-modified plants for use in the country, with three types of corn also cleared for commercial cultivation. Plants that have also been approved for direct use as food, feed and for processing are soybean, canola, potato, cotton, sugar beet and alfalfa. The Bureau of Plant Industry is also currently reviewing a further application to introduce a genetically-modified variety of rice for food, feed and processing. The Philippines was the first country in Asia to approve the commercial cultivation of a genetically-modified Bt corn variety in December 2002.
Accessed on 9 July < http://www.truthabouttrade.org/article.asp?id=7855 >

REPUBLIC OF KOREA
Republic of Korea and EU agree to changes in dumping laws. The Chosun Ilbo, 19 July 2007.
Trade envoys from the Republic of Korea and the EU met in Brussels for their second round of talks aimed at carving out a free trade agreement between Asia’s third largest economy and the world’s biggest trade bloc. The two sides did reach a number of agreements on trade remedies, including the EU’s acceptance of the Republic of Korea’s requests to soften its anti-dumping rules. One such agreement calls for the two sides to hold discussions before the EU opens an anti-dumping investigation.
Accessed on 23 July
< http://english.chosun.com/w21data/html/news/200707/200707190003.html >

RUSSIAN FEDERATION
Russian Federation to invest over R 4 billion in nanotechnologies in 2007. Itar-Tass, 11 July 2007.
The Russian Federation plans to invest 4.2 billion roubles in nanotechnology research and development in 2007. The Ministry of Science and Education stated that the acceleration of work on nanotechnology was aimed at implementing strategic national projects. The Government is seeking to create, within a short period of time, a scientific, technological and metrological basis for nano-industry and start creating both nano-materials and nanotechnologies. A nanotechnology corporation will be created to coordinate this work. The corporation will be created as a non-profit organization and seek to implement scientific, technological and innovation policies, and facilitate the introduction of cutting-edge technologies in the Russian Federation, the development of innovative infrastructure, and the implementation of nanotechnology and nano-industry projects.
Accessed on 16 July
< http://www.itar-tass.com/eng/level2.html?NewsID=11710435&PageNum=0 >

Russian Federation “forced” to apply costly EU chemical standards. EUbusiness, 16 July 2007.
The Ministry of Energy and Industry said that the Russian Federation would be “forced” to apply EU safety standards in the chemical industry, which would cost Russian companies up to 10 per cent of their export earnings. The registration, evaluation, authorization and restriction of chemicals (REACH), an EU regulation which tightens standards for the chemical industry, came into force this year. The ministry said since the EU was one of the main strategic economic partner, the Russian Federation would be forced to apply these requirements. The Russian Federation is the European Union’s third-largest trading partner and is a major centre for global chemicals production. The European Union is by far the Russian Federation’s largest export market.
Accessed on 17 July < http://www.eubusiness.com/Chemicals/1184590802.0 >

SOLOMON ISLANDS
New Zealand financial institution paves the way with solar powered banking. Solomon Times, 24 June 2007.
A New Zealand-based financial institution has won the tender to provide rural banking to the main provincial centers in the Solomon Islands. The institution, in collaboration with the Solomon Islands Government, will run ATMs on direct current (DC) from batteries powered by a solar panel. The initial plan is to provide at least six solar powered banks to some of the main provincial centers. At least three new mobile services will also be made available sometime soon as part of the rural banking plan.
Accessed on 29 June < http://www.solomontimes.com/news.aspx?nwID=192 >

SRI LANKA
Government to set up economic zone in Trincomalee. The Sunday Observer, 15 July 2007.
The Government, in cooperation with the private sector, is planning to set up a 1,600 acre economic zone in Trincomalee to launch large industries. According to the Board of Investment, a special package has been devised for investment in the Eastern Province. In addition, there are many concessions such as a tax free period of 10 years for a SL Rs 5 to SL Rs 30 million investments. Orders have already been received for ready-made garments from countries such as Italy, the United Kingdom and the United States, and steps have been taken to start the project by the end of October.
Accessed on 16 July < http://www.sundayobserver.lk/2007/07/15/new03.asp >

THAILAND
Thai police get tough Internet law. The Nation, 18 July 2007.
Effective from 18 July 2007, a new law allows police officers or Government inspectors to seize computers on private premises suspected of containing pornographic material or evidence in connection with either general criminal activities or cyber crimes. The 2007 Computer-related Crimes Act also prevents unauthorized applications and access made to other people’s computers, as well as alteration, deletion or destruction of the information of others. Impostors using others’ identities to send slanderous messages, or those who flood information on discussion forums are also subject to criminal penalties under the law, proposed and drafted by the National Electronics and Computer Technology Centre (Nectec) and enforced by the Information and Communications Technology Ministry. The new Act is intended to set a standard and to give confidence to e-commerce businesses and national security forces. It will also encourage electronic transactions, security on the Internet, and electronic commerce in Thailand while discouraging people from carrying out illegal activities on the network.
Accessed on 23 July
< http://www.nationmultimedia.com/2007/07/18/headlines/headlines_30041329.php >

TURKMENISTAN
Turkmenistan energy deals signed. China Daily, 18 July 2007.
Turkmenistan and China signed a series of cooperation agreements on trade, technology, education and energy, including two on sharing natural gas products and gas purchase. The two countries agreed to expedite talks on energy partnership to complete the proposed China-Turkmen gas pipeline at the earliest. In April 2006, the two countries signed an agreement, according to which China would buy 30 billion cubic meters of natural gas a year from resource-rich Turkmenistan for 30 years. The gas is to be delivered through a pipeline to be built by 2009. Analysts, however, said some technical problems have to be solved to smoothen the energy cooperation between the two countries. The biggest problem is in building the pipeline, which will have to pass through third countries, most probably Kazakhstan and Uzbekistan. So the energy cooperation has to involve other Central Asian countries.
Accessed on 23 July
< http://www.chinadaily.com.cn/china/2007-07/18/content_5438174.htm >

UNITED STATES OF AMERICA
United States files formal WTO complaint on China industry subsidies. Yahoo News, 12 July 2007.
The United States has requested a formal WTO hearing on Chinese industrial subsidies. The request for a WTO dispute settlement panel came after the United States initiated a complaint in February on what it called “illegal” subsidies on a variety of products. Although two rounds of WTO consultations with China had been held, they have not resolved the United States’ concerns about China’s use of subsidies.
Accessed on 13 July
< http://news.yahoo.com/s/afp/20070712/bs_afp/uschinatradedispute_070712164317 >

CHINA
Foreign investment to be allowed in China’s defense sector. Channel News Asia, 3 July 2007.
China will allow outside investment including foreign investors in its defense sector, as it seeks to invigorate the long-protected industry. Firms producing less-sensitive military equipment and products for broader civil and consumer markets will be allowed to solicit domestic and foreign investors as part of broad plans for shareholding reform in the sector. Defense-related companies will also be encouraged to raise funds on both domestic and overseas capital markets. Shareholding reform in the industry is expected to be completed within several years.
Accessed on 3 July
< http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/285909/1/.html >

China slashes tax on interest income. China Economic Net, 23 July 2007.
Effective from 15 August, China’s State Council will reduce the tax on interest income from 20 to 5 per cent. The council received authorization to scrap or cut the tax for banking savings from the Standing Committee of the National People’s Congress on 29 June. The move aims to narrow the gap between deposit rate and inflation to make bank savings more attractive and to curb the excess liquidity. The reduction in interest income tax will increase earnings from bank savings.
Accessed on 23 July
< http://en.ce.cn/Business/Macro-economic/200707/23/t20070723_12264961.shtml >

FRENCH POLYNESIA
French Polynesia wants to speed up euro introduction. Pacific Magazine, 12 July 2007.
The President of French Polynesia has expressed the wish to see the current French Pacific Franc (CFP) being replaced by the Euro currency as soon as possible. He said that he would raise the matter with his New Caledonian counterparts and that he hoped that this would contribute to the establishment of a more harmonized economic partnership. The move, which would put an end to the French Pacific Franc currency in the three French Pacific dependencies (French Polynesia, New Caledonia, and Wallis and Futuna), can only happen if all three entities agree to make a joint request first to the French Government and then to the European Union. Accessed on 12 July
< http://www.pacificmagazine.net/news/2007/07/12/ >

INDIA
India and Ethiopia sign investment promotion pact. Bilaterals, 5 July 2007.
Seeking to “rediscover” their relationship, India and Ethiopia have signed an agreement to promote bilateral investments and decided to increase coordination on critical global issues like UN reforms. The two countries have decided to cooperate with each other in various international forums and as far as possible to have the common approach on international issues including the current trade negotiations, economic cooperation, climate change. The two sides signed five pacts, including the Bilateral Investment Promotion and Protection Agreement (BIPPA) which will facilitate Indian public and private sector companies to invest more in Ethiopia.
Accessed on 9 July < http://www.bilaterals.org/article.php3?id_article=8919 >

India clears 21 special economic zone proposals, eyes Rs 100 billion investments. Forbes, 12 July 2007.
India’s Board of Approval for special economic zones (SEZs) has cleared 21 proposals and given in-principle approval to six further proposals to set up SEZs in the country. In a statement, the board said that more than Rs 431.23 billion had been invested in the 130 SEZs it had approved to date, providing direct employment to more than 35,000 people. The Government is looking at bringing in investments of Rs 100 billion by the end of the year and is looking at creating 10 million jobs in these SEZs.
Accessed on 13 July
< http://www.forbes.com/markets/feeds/afx/2007/07/12/afx3907699.html >

INDONESIA
Indonesia blacklists FDI. Asia Times, 10 July 2007.
Indonesia has greatly expanded its “negative investment list” of local industries to which foreign investment is partially or wholly restricted. The new list, which does not require parliamentary approval and is mandated under the recently enacted 2007 Investment Law, will affect at least 338 business sectors, up substantially from 83 previously. The ruling is designed to protect “national interests”. As with the previous list, the provisions appear to apply only to FDI, and not to purchases of shares of companies listed on the local stock exchange. The new list will be in force for three years unless revised earlier by a Government team tasked with regularly assessing the list. Business fields not covered by the decrees are open to investment unless otherwise closed by law.
Accessed on 10 July < http://www.atimes.com/atimes/Southeast_Asia/IG10Ae02.html >

KYRGYZSTAN
Kyrgyzstan and Kazakhstan to set up US$ 120 million joint investment fund. Asia Plus, 12 July 2007.
Kyrgyzstan and Kazakhstan have signed an agreement to establish a joint investment fund worth US$ 120 million for rehabilitating the Kyrgyz economy. Kazakhstan will contribute US$ 100 million and the other US$ 20 million will come from Kyrgyzstan. Kyrgyzstan will receive an interest-free non-refund investment, not a loan, to develop its economy. Among other things, the parties agreed that Kazakhstan would allow Kyrgyz railway carriers to use Kazakh domestic tariffs. Kazakhstan also plans to take part in a tender for the privatization of Central Asia’s largest hydropower plants which are located in Kyrgyzstan.
Accessed on 12 July < http://www.asiaplus.tj/en/news/48/20023.html >

MALAYSIA
First SME credit bureau unveiled. Biznewsdb.com, 4 July 2007.
Two Malaysian credit corporations have teamed up to jointly operate the country’s first credit bureau for small and medium enterprises (SMEs), the SME Credit Bureau. The bureau, when fully operational by end-2008, will not only furnish banks and financial institutions with far-ranging and reliable credit details of the players, but make use of technology to transform raw information into analyzed data, including SME credit ratings. The bureau will act as a key source of information on registration details, credit track records, debt level and obligations, financial statement and trade partners of SMEs. Credit information on SMEs is largely fragmented and mostly exists as raw data.
Accessed on 9 July
< http://www.biznewsdb.com/english/newspage/ >

PAKISTAN
Undue concentration of economic power provision: proposed law seeks annulment of provision. Business Recorder, 9 July 2007.
The new fair competition law has sought the abolishment of “undue concentration of economic power” provision, specified in the Monopolies and Restrictive Trade Practices (Control and Prevention) Ordinance (MRTPO) 1970, to attract maximum foreign investment into the country. The proposed law seeks to prohibit abuse of market dominance, anti-competitive agreements, deceptive market practices, and mergers of undertakings that substantially reduce competition. It avoids procedures that may pose unnecessary transaction or compliance costs on firms, obstacles to beneficial mergers and acquisitions and unnecessary on innovative horizontal and vertical arrangements among the competing firms.
Accessed on 9 July
< http://www.brecorder.com/index.php? >

Board of Investment for setting up of Foreign Investor’s Council to boost investment. Business Recorder, 16 July 2007.
The Board of Investment (BoI) has proposed the setting up of Foreign Investors Council (FIC) with a view to make Pakistan the most lucrative destination for investment, and enhance the country’s competitiveness in the global markets. BoI has forwarded a proposal to the Prime Minister arguing that such councils are used as model in other emerging market economies like Ireland, the Russian Federation and Turkey to attract foreign investment by convincing the international business community that the country has an edge in providing business-friendly environment. The BoI and Competitiveness Support Fund (CSF) of the Ministry of Finance would be the main stakeholders of the proposed council which is to be headed by the Prime Minister. It would facilitate investors and promote investment on fast track basis.
Accessed on 16 July
< http://www.brecorder.com/index.php? >

UNITED STATES OF AMERICA
United States considers investment agreement with Taiwan Province of China. Forbes, 12 July 2007.
The United States said it was considering a bilateral investment agreement with Taiwan Province of China but ruled out a free trade pact in the immediate future. The two sides raised the possibility of an investment accord during annual talks under the Trade and Investment Framework Agreement, which usually precedes a free trade pact. Both sides agreed to intensify discussions of possible concrete steps to deepen bilateral cooperation in the investment area, including the possibility of a bilateral investment agreement. Taiwan Province of China has been seeking a free trade pact with the United States, its key investor, trading partner and top arms provider. Resolutions have been adopted in the United States Congress and at least 39 of 50 State legislatures support an FTA with Taiwan Province of China but the United States administration and business community are reluctant to pursue it with vigor due to concerns over the likely adverse reaction from China.
Accessed on 12 July < http://www.forbes.com/markets/feeds/afx/2007/07/12/afx3906426.html >

VIET NAM
Draft decree guides WTO commitments. Viet Nam News, 9 July 2007.
The Ministry of Planning and Investment (MPI) has submitted a draft decree that will act as an investment guide in line with Viet Nam’s commitments of joining the World Trade Organization (WTO). The draft’s main aim is to advise foreign entrepreneurs investing in Viet Nam and will assist them to apply Vietnamese investment law easily and solve any related difficulties. The draft contains regulations on the capital contribution of foreign investors to Vietnamese enterprises that allow foreign investors buy unlimited amounts of shares in all fields and sectors. It regulates the procedures that domestic enterprises must carry out when renewing business licences after foreign investors have bought shares which have changed the capital content. In this case, foreign investors will not have to set up the investment project or apply for a business license.
Accessed on < http://vietnamnews.vnagency.com.vn/showarticle.php?num=03ECO090707 >

Read the full report from SINA
< http://english.sina.com/china/1/2007/0707/117863.html >
Accessed on 9 July 2007

… Hundreds of business leaders have pledged to comply with labour, human rights, environmental and anti-corruption standards?
At the second UN Global Compact Leaders Summit, top executives adopted the 21-point Geneva Declaration, which spells out concrete actions for business, Governments and UN Global Compact participants. Also launched at the Summit, the “Principles for Responsible Investment” seek to disseminate the tenets of corporate citizenship among capital markets and the “Principles for Responsible Management Education” aim to take the case for universal values and business into business schools around the world.

Read the full report from the UN News Centre:
< http://www.un.org/apps/news/story.asp?NewsID=23150&Cr=global&Cr1=compact >
Accessed on 9 July 2007

… it’s been ten years since the Asian financial crisis began?
On 2 July 1997, Thailand’s central bank floated the baht after failing to protect the currency from speculative attack. The move triggered a financial and economic collapse that quickly spread to other economies in the region. Thus began the Asian financial crisis of 1997-1998. Its effects, and Governments’ subsequent responses to it, have defined much of the region’s economic policies and direction in the past decade.

Read the full report from the Economist Intelligence Unit
< http://www.economist.com/agenda/displaystory.cfm?story_id=9432495 >
Accessed on 5 July 2007

… Malaysia will build Southeast Asia’s longest bridge?
A Chinese bridge construction firm has agreed to build a bridge linking the mainland of Malaysia with the country’s northern Penang state. When completed in January 2011, the bridge will become Southeast Asia’s longest.

Read the full report from China Economic Net
< http://en.ce.cn/Business/Enterprise/200707/14/t20070714_12167150.shtml >
Accessed on 16 July 2007

… Myanmar targets goat farms to increase exports?
The Ministry of Livestock and Fisheries said that exports of goat meat could earn Myanmar US$ 50 million a year if goat breeding programmes were extended. It said it would support the development of meat goat breeding programmes, including through loans from the Myanmar Livestock and Fisheries Development Bank.

Read the full report from the Myanmar Times
< http://www.mmtimes.com/no374/b007.htm >
Accessed on 13 July 2007

… Switzerland recognizes China as market economy?
Switzerland has recognized the market economy status of China and hopes to start talks on a free trade area with the country. Switzerland is the third European nation to recognize the market economy status of China following Iceland and Norway; and the second in Europe to show interest in an FTA after Iceland.

Read the full report from China Daily
< http://www.chinadaily.com.cn/china/2007-07/10/content_5422789.htm >
Accessed on 10 July 2007

… the Russian Federation plans to crack down on gray market electronic goods?
The Russian Federation has decided to fight against the illegal imports of electronic goods with a classic carrot-and-stick approach. On the one hand, a resolution was passed temporarily scrapping import duties on digital cameras and cellular-phone components; on the other, customs will now record the serial numbers of all laptops and other digital items imported into the country.

Read the full report from the Moscow News Weekly:
< http://mnweekly.ru/business/20070712/55261663.html >
Accessed on 16 July 2007

… Viet Nam organizes yearly CSR awards for footwear and garment industries?
2007 is the third year the award has been organized to honor businesses that have successfully carried out corporate social responsibility in the context of international economic integration.

Read the full report from Nhan Dan
< http://www.nhandan.com.vn/english/business/190707/business_c.htm >
Accessed on 23 July 2007

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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.