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BANGLADESH
Chile wants to expand trade with Bangladesh. Bangladesh Observer, 15 August 2005.
The Ambassador of Chile stated that his country wanted to expand its trade with Bangladesh. The two countries have large potentials for increasing bilateral trade and economic cooperation. A delegation of the wood industry from Chile will visit Bangladesh in late November while Chile expects to welcome a business delegation from Bangladesh.
Accessed on 15 July
< http://www.bangladeshobserveronline.com/new/2005/08/15/economic.htm >

BRUNEI DARUSSALAM
Brunei Darussalam signs Trans-Pacific Strategic Closer Economic Partnership trade agreement. Scoop Independent News, 2 August 2005.
Brunei signed the Trans-Pacific Strategic Closer Economic Partnership (SEP) trade agreement on 2 August in New Zealand, which had been signed by Singapore and Chile a fortnight before. The Trans-Pacific SEP links Brunei Darussalam, Chile, New Zealand and Singapore. New Zealand expressed satisfaction that Brunei Darussalam had decided to join the agreement. It was possible that other countries in the region might follow, for instance ASEAN (Association of South East Asian Nations), of which Brunei is a member.
Accessed on 5 August < http://www.scoop.co.nz/stories/PA0508/S00057.htm >

CHINA
China-Russian Federation held a meeting to standardize trade order. Ministry of Commerce of China, 15 August 2005.
On the 2nd session of China-Russian Federation trade order standardization joint group, both countries emphasized the importance of standardizing bilateral trade. China and the Russian Federation expressed their determination to enhance coordination and cooperation, take action and strengthen management to create good conditions for a sound development of bilateral trade. Consensus was reached on several issues such as further strengthening the mechanisms and functions of the working group, expanding exchange and cooperation of Customs statistics and helping Chinese funded enterprises setting up official Customs declaration.
Accessed 16 August <http://english.mofcom.gov.cn/aarticle/newsrelease/significantnews/200508/20050800261863.html>

INDIA
India and Indonesia seek to boost bilateral trade. ABC, 9 August 2005.
India and Indonesia are exploring the possibility of an accord that could enhance bilateral trade to $US10 billion by 2010. The two countries have decided to set up a joint study group to examine the possibility of a Comprehensive Economic Partnership Agreement. The study group will have to resolve issues such as the intention of India to remove non-tariff barriers on its exports, including meat and other processed food; and the objective of Indonesia to increase its palm oil exports.
Accessed on 9 August < http://www.abcasiapacific.com/news/stories_to/1433194.htm >

IRAN
Islamic Republic of Iran team explores WTO negotiation expertise in China. Islamic Republic News Agency, 5 August 2005.
Following the decision by the World Trade Organization (WTO) in May 2005, to open membership talks with the Islamic Republic of Iran, the country is now consulting with China on the basic requirements that must be addressed to join the organization. A delegation of the Islamic Republic of Iran went to China to benefit from the experiences of China in its 15 years of negotiations to join the WTO. The delegation has particularly targeted China's negotiation expertise in the area of agriculture.
Accessed on 5 August < http://www.irna.ir/en/news/view/menu-234/0508050248121941.htm >

Islamic Republic of Iran, Kenya to broaden economic cooperation. Diplomacy Monitor, 14 August 2005.
The Islamic Republic of Iran and Kenya met to discuss the expansion of economic cooperation between the two countries. It was agreed that the current level of trade exchange between the two countries should be raised through the implementation of a memorandum of understanding (MoU) on economic cooperation which urged expansion of cooperation. Trade between the Islamic Republic of Iran and Kenya stood at US$10 million last year. In order to increase that figure, the Islamic Republic of Iran is setting up an exclusive trade exhibition in Nairobi to display its products while Kenya will send an economic delegation to the Islamic Republic of Iran in the near future.
Accessed on 15 August
<http://www.diplomacymonitor.com/stu/dm.nsf/dn/dnF1E977F84E8DD86C8525705E00121F1A>

MYANMAR
Islamic Republic of Iran, Myanmar stress closer investments, trade relations. Islamic Republic News Agency, 31 July 2005.
Myanmar referred to the strategic location of the Islamic Republic of Iran as a gateway to the Central Asian markets and stressed its interest in using the transit route which is the most economical, closest and most secure route to the Central Asian market. The two countries have potentials for cooperation in oil, agriculture, fisheries, tourism, and industrial sectors. The Islamic Republic of Iran is ready to take strident steps to raise the level of bilateral ties with Myanmar and hopes that friendly relations and cooperation between the Islamic Republic of Iran and Myanmar would receive a further boost.
Accessed on 5 August < http://www.irna.ir/en/news/view/menu-237/0507310026024237.htm >

PAKISTAN
Three more customs stations to facilitate bilateral trade with Islamic Republic of Iran, Afghanistan. Daily Times, 19 August 2005.
Pakistan added three more customs stations for facilitating bilateral trade with the Islamic Republic of Iran and Afghanistan. Pakistan and Afghanistan are also considering starting negotiations for finalizing the Preferential Trade Agreement (PTA) to enhance bilateral trade.
Accessed on 25 August
< http://www.dailytimes.com.pk/default.asp?page=story_19-8-2005_pg5_2 >

SINGAPORE
Singapore, Republic of Korea sign free trade agreement. Channel News Asia, 4 August 2005.
Singapore and the Republic of Korea have signed a free trade agreement on 4 August 2005. It is the first free trade pact of the Republic of Korea with an Asian country and will come into effect towards the end of the year. Tariffs on 75 per cent of the exports from Singapore to the Republic of Korea will be removed. Companies from Singapore will be granted tariff concessions on consumer electronics, biomedical sciences and in other areas. The agreement will also open the Korean market to services from Singaporean companies in areas such as logistics and education. Republic of Korean service providers will gain access to construction, logistics and professional services markets in Singapore.
Accessed on < http://www.channelnewsasia.com/stories/economicnews/view/161542/1/.html >

UNITED STATES OF AMERICA
The United States of America and the Philippines meet under trade and investment framework agreement, Philippines to lift ban on United States beef. Office of the United States of America Trade Representative, 4 August 2005.
The United States of America and the Philippines concluded meetings under the United States-Philippines Trade and Investment Framework Agreement (TIFA), during which they reviewed key bilateral economic issues, including a joint action plan to improve intellectual property protection in the Philippines. The two sides also discussed market access issues related to agricultural products, telecommunications, and autos. The Philippines announced that it would lift its ban on import of beef from the United States that had been imposed in response to prior concerns related to bovine spongiform encephalopathy (BSE). It also announced that in-quota imports of poultry would not be subject to safeguard duties. This move ensures continued access of the United States to the Philippine poultry market, the second largest in Southeast Asia.
Accessed on 5 August
< http://www.ustr.gov/Document_Library/Press_Releases/2005/August/ >

BRUNEI DARUSSALAM
Brunei Darussalam, Philippine Governments renew uniform port tariffs. Brunei Direct, 23 August 2005.
Brunei Darussalam and the Philippines have renewed the bilateral agreement on uniform port tariff (UPT) in a bid to stimulate cross-border trade movement within the Brunei Darussalam, Indonesia, Malaysia, Philippines East Asian Growth Area (BIMP-EAGA). Under the agreement, accredited vessels served by the ports of Brunei Darussalam and the Philippines are entitled to special charges including US$0.040 per Gross Registered Tonnage (GRT) for port dues and US$0.020 per GRT for dockage fees. The special rates are lower than the standard port dues of US$0.81 per GRT and dockage fees of US$0.039 per GRT charged for vessels engaged in foreign trade.
Accessed on 31 August
<http://www.brudirect.com/DailyInfo/News/Archive/Aug05/230805/nite07.htm>

CHINA
China scraps tariffs on 15 fruits from Taiwan Province of China. China Broadcast, 1 August 2005.
The mainland of China is implementing a no-tariff policy on imports of 15 fruits from Taiwan Province of China, namely: pineapples, lychees, papayas, starfruit, mangos, guavas, wax apples, betel nuts, pomelos, jujubes, coconuts, loquats, plums, peaches and persimmons. The decision, which comes at the beginning of the fruit harvest, has been welcomed by the farmers who will be able to sell their surplus.
Accessed on 23 August < http://en.chinabroadcast.cn/2238/2005-8-1/138@262706.htm >

INDONESIA
Indonesia wants India to lower import tariffs. Asia Times, 12 August 2005.
The Minister of Trade of Indonesia visited India to discuss the possibility of reviewing high import duties. In addition to lifting trade barriers on Indonesian export products, trade and investment relations between the two countries could be expanded. The minister also attended the eighth meeting of a joint business council to present a paper on economic development and investment climate in Indonesia. For the investment sector, the possibility of enhancing cooperation especially in medicines and information technology will be further explored.
Accessed on 15 August < http://www.atimes.com/atimes/Southeast_Asia/GH12Ae02.html >

PAKISTAN
India cuts duty on Pakistani textile. Daily Times, 19 August 2005.
India will reduce import duty on textile from Bangladesh and Pakistan. As many as 200 tariff lines in textile products will be identified to cut the basic import duty as well as ad valorem duty. The decision to scale down duties for textile imports from Pakistan and Bangladesh was taken as part of a comprehensive strategy to enhance South-South trade and curb smuggling across the borders. Opening the Indian market for Pakistan’s textile products will serve as a major booster for bilateral relations as it comes in the wake of progress made on the agreements on shipping and air links at the meeting of the commerce secretaries.
Accessed on 23 August < http://www.dailytimes.com.pk/default.asp?page=story_20-8-2005_pg7_3 >

PHILIPPINES
Philippines seeks duty-free entry of dried mango, carageenan exports to United States of America. The Philippine Star, 12 August 2005.
The Philippines asked for duty-free entry of dried mangoes, carageenan and certain watches under the United States General System of Preferences (GSP). The Philippines-United States Trade and Investment Council (TIC) noted the gains achieved during the continuing bilateral discussions including opportunities to take up matters on trade and investment, agriculture, intellectual property rights and telecommunications.
Accessed on 15 July < http://www.philstar.com/philstar/NEWS200508120715.htm >

Gradual tariff reduction on cars accepted by the Philippines. The Manila Bulletin, 22 August 2005.
The Philippines has softened its position on the automotive tariffs issue in the ongoing negotiations for the Japan-Philippines Economic Partnership Agreement (JPEPA), as it is now agreeable to a phased tariff reduction over a five-year period for vehicles with an engine displacement of three liters and below instead of its earlier stance of a "sudden death" reduction.
Accessed on 23 August < http://www.mb.com.ph/BSNS2005082242534.html >

RUSSIAN FEDERATION
Russian Federation suspends import duties on certain timber processing equipment. Interfax, 23 August 2005.
The Russian Federation suspended import duties on certain types of equipment used by the furniture industry to process timber. A resolution abolished the 5 per cent duty on machining units, disc saws, and drilling machines and mortisers for a period of nine months.
Accessed on 25 August < http://www.interfax.ru/e/B/finances/26.html?id_issue=11366437 >

THAILAND
Thailand and Japan cut import duties. International Herald Tribune, 2 August 2005.
Japan and Thailand have agreed to cut import taxes on vehicle components, luxury cars, chicken, shrimps and pineapples, reducing tariffs on more than 90 per cent of the $36 billion worth of products traded between the two nations. Japan will cut tariffs on Thai poultry, canned foods and jewelry exports. Thailand will reduce levies on imported cars with engines larger than 3-liter capacity.
Accessed on 5 August < http://www.iht.com/articles/2005/08/01/bloomberg/sxtax.php >

VIET NAM
Viet Nam, Lao People’s Democratic Republic ink deal on preferential trade tariff. Thanhien News, 29 July 2005.
Viet Nam and Lao People’s Democratic Republic signed a memorandum of understanding on preferential trade tariffs. The two countries have held three negotiations which resulted in an agreement on a list of commodities eligible for tax reduction including rice, cigarettes, motorbike parts and a number of industrial products. The two sides will give preferential treatment to goods originating from each country. The negotiations were part of the implementation of the Viet Nam-Lao People’s Democratic Republic agreement on economic, cultural, scientific and technical cooperation.
Accessed on 15 August < http://thanhniennews.com/business/?catid=2&newsid=8200 >

CHINA
Extension of anti-dumping investigation against imports of ethylene-propylene-non-conjugated diene rubber (EPDM) from the Netherlands, the Republic of Korea and the United States of America. Hong Kong Trade and Industry Department, 5 August 2005.
The Ministry of Commerce of China has extended its anti-dumping investigation against imports of ethylene-propylene-non-conjugated diene rubber (EPDM) from the Netherlands, the Republic of Korea and the United States of America.
Accessed on 9 August
< http://www.tid.gov.hk/english/aboutus/tradecircular/cic/asia/2005/ci3062005.html >

EUROPEAN UNION
EU agrees to admit Chinese knitwear despite quotas. Financial Times, 3 August 2005.
The European Union has agreed to come to the rescue of European retailers struggling because some Chinese clothing shipments have been stranded in transit by allowing more imports of Chinese pullovers, even though China has exhausted the quota for 2005. However, the EU warned that the handling of Chinese pullovers was not the prelude to a more relaxed EU policy towards Chinese exports. Some German retailers expressed concerns that the proposed solution would not be sufficient to cover an additional 22 million pullovers awaiting clearance to be sold in the EU. A German company producing pullovers in China is planning legal action if its access to goods ordered from China is denied.
Accessed on 5 August
< http://news.ft.com/cms/s/263e83c6-0444-11da-a775-00000e2511c8.html >

Imports of Chinese bras, flax yarn, T-shirts into EU hit quota ceilings. EU Business, 22 August 2005.
Bras, flax yarn and T-shirts are the latest Chinese textile imports into the European Union to hit their annual quota ceilings agreed between the EU and China. That means that six out of 10 textile categories covered by EU import quotas have now been met. A delegation of the EU is to go to China to hold talks on the quotas.
Accessed on 23 August < http://www.eubusiness.com/Trade/050822165211.oo7azzlw >

FIJI
Fiji, Vanuatu resolve to lift bans. Fiji Times, 25 August 2005.
Fiji and Vanuatu resolved to lift trade bans imposed on Vanuatu kava and Fiji biscuits. Fiji has also declared that it is prepared to sign the revised Melanesian Spearhead Group (MSG) Trade Agreement.
Accessed on 29 August < http://www.fijitimes.com/story.aspx?id=27224 >

INDIA
India, Bangladesh agree to ease non-tariff barriers. NewKerala.com, 3 August 2005.
In order to increase economic cooperation and facilitate trade, India and Bangladesh have agreed to ease non-tariff barriers during a two-day Joint Working Group meeting. The two neighbours have approved a roadmap to eliminate non-tariff barriers and facilitate trade so that more products from Bangladesh can have access to the Indian market.
Accessed on 5 August < http://www.newkerala.com/news.php?action=fullnews&id=11275 >

India seeks EU exemption for 'traditional' medicines. EUpolitix.com, 25 August 2005.
India has urged the EU to exempt traditional ‘ayurvedic’ medicines from EU legislation governing herbal treatments. An EU directive on traditional herbal medicinal products will block remedies that have not been in regular European use for 15 years. Ayurvedic medicines have been used in India for centuries but have not enjoyed widespread use in Europe until recently with an increased fashion for ‘alternative medicine’.
Accessed on 29 August < http://www.eupolitix.com/EN/News/200508/fb230fac-bc02-44f6-95b3-55a84f1d0c2e.htm >

PAKISTAN
Pakistan to lift ban on Indian sugar imports. Jang Group, 2 August 2005.
Pakistan will lift a four-year ban on sugar imports from India, as the country faces difficulties holding back domestic prices of the sweetener to cushion the impact of high inflation. Pakistan’s attempts to check sugar prices that reached a four-year high in February have been let down by low rainfall, which is set to trim its crop by at least a fifth. Imports from other countries haven’t been enough to make up the shortfall. One of the government’s top priorities is to bring down inflation running at just over nine per cent, with the public complaining of high food prices.
Accessed on 9 August < http://www.jang-group.com/thenews/aug2005-daily/02-08-2005/business/b6.htm >

UNITED STATES OF AMERICA
United States of America to take extra Australia sugar. ABC, 27 August 2005.
After storms and hurricanes have damaged crops in the United States of America, demand for sugar cannot be met by domestic production. This has led the United States of America to increase its quota for sugar from Australia.
Accessed on 29 August < http://www.abc.net.au/news/items/200508/1447507.htm?northcoast >

BANGLADESH
Committee to streamline textile sector. News from Bangladesh, 10 August 2005.
The Ministry of Textiles has taken the initiative to form a coordination committee for the three associations of the country’s textiles sector, to prevent further misunderstandings among the major stakeholders. The textile and apparel sectors had long been at loggerheads with each other over a series of issues, such as rules of origin. The director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) stated that more interaction and more cooperation among the major associations of the sector would be an effective move, adding that helping and supporting each other from right perspective, for the greater interest of the country would make the textile industry more competitive.
Accessed on 15 August < http://www.bangladesh-web.com/view.php?hidDate=2005-08-11&hidType=BAE&hidRecord=0000000000000000055897 >

CHINA
China, Japan sign automobile technology cooperation pact. ChinaView.com, 5 August 2005.
China's largest automaker signed a technology license agreement on hybrid automobile production with a Japanese company in Changchun, capital of China's northeast Jilin Province. According to the agreement, the hybrid-engine will be produced in China in 2005 for the first time, marking another milestone in the cooperation between automobile companies of China and Japan. The Chinese company expressed its satisfaction with the agreement, stating that it was a major step for the two companies in boosting hybrid-engine technology cooperation, which will help popularize the environment-friendly technology in China's car industry.
Accessed on 5 August < http://news.xinhuanet.com/english/2005-08/05/content_3311312.htm >

China, Myanmar sign mineral exploration agreement. ChinaView.com, 12 August 2005.
China and Myanmar signed an agreement on nickel mineral exploration and feasibility study. Under the agreement, the nickel mineral exploration and feasibility study will be carried out in the Northwest of Myanmar. This is the second nickel mineral exploration agreement signed between China and Myanmar.
Accessed on 15 August < http://news.xinhuanet.com/english/2005-08/12/content_3346282.htm >

China targets waste to sustain growth pace. China Economic Net, 15 August 2005.
China has stated that its long-term economic development may be hindered because of wastage of resources such as water, oil and electricity. China will adopt economic measures to curb waste and accelerate the development of new technology to increase the efficient use of existing resources. Demand for fuel to run power plants, cars and machinery have risen as the economy has expanded, making China the world's biggest oil consumer behind the United States of America. The country is experiencing its third year of power shortages since the country’s economic growth, which reached 9.5 per cent in the first six months of the year, boosts electricity demand beyond generation capacity.
Accessed on 15 July < http://en.ce.cn/Business/Macro-economic/200508/15/t20050815_4424270.shtml >

PHILIPPINES
Philippines issues exploration permit to consortium. Channel News Asia, 11 August 2005.
The Department of Energy of the Philippines awarded an oil and gas exploration contract to a consortium that includes several companies from Australia. The contract covers 8,620 hectares in the Sulu Sea of the southern Philippines. The Department of Energy estimates the resource potential of the Sulu Sea field at around 203 million barrels of fuel oil. The consortium will spend 43.85 million dollars to undertake exploration activities over seven years.
Accessed on 15 August
< http://money.inq7.net/breakingnews/view_breakingnews.php?yyyy=2005&mon=08&dd=11&file=18 >

SINGAPORE
Singapore, Thailand identify new areas of cooperation at bilateral meeting. Channel News Asia, 2 August 2005.
Public transportation and the application of IT in education are two new areas of cooperation identified by Singapore and Thailand. At the 7th Coordinating Meeting of the Thailand-Singapore Civil Service Exchange Programme (CSEP), it was recognized that there were still many areas both countries could work on, such as sharing best practices in health, education, and transport. Thailand expressed hopes for further cooperation in land transport next year. Both countries noted that in the larger context of ASEAN, improving bilateral ties will also be a signal to the other members on the importance of the group.
Accessed on 5 August
< http://www.channelnewsasia.com/stories/southeastasia/view/161163/1/.html >

PACIFIC ISLANDS
Islands should consider bio-diesel, workshop told. Small Islands Developing States Network, 8 August 2005.
At the sub-regional workshop on bio-fuel in Port Vila, bio-fuel was discussed as an alternative for benzene and mazuout. While there are many different bio-fuels with potential in the region – such as methane, derived from processed animal waste, or ethanol, derived from sugarcane extract – the most promising is bio-diesel. It is 100 per cent coconut oil based but unlike refined coconut oil, it can be used in existing engines and fuel injection equipment.
Accessed on 15 August 2005
< http://www.sidsnet.org/latestarc/energy-newswire/frm00039.html >

VIET NAM
Viet Nam, Lao People’s Democratic Republic sign agriculture and forestry cooperation pact. Viet Nam News Agency, 4 August 2005.
Viet Nam and Lao People’s Democratic Republic have signed a cooperation accord on agriculture and forestry and rural development for 2005 under which they agreed to jointly carry out and monitor irrigation projects and a programme to grow high-yield corn in Lao People’s Democratic Republic. Viet Nam will also help the Lao People’s Democratic Republic to improve its agricultural production and rural development models in several localities and train its workforce. A cooperation orientation for 2006-2010 which was signed at the same occasion includes the continuation of designing and implementing projects to develop agriculture and forestry, irrigation networks and rural areas so as to ensure national food security and environmental protection.
Accessed on 22 August
< http://www.vnagency.com.vn/newsA.asp?LANGUAGE_ID=2&CATEGORY_ID=30&NEWS_ID=161714 >

Vietnamese Internet users make up 9.35 per cent of population. Viet Nam Economic Times, 15 August 2005.
Viet Nam currently has more than 7.7 million Internet users, representing 9.35 per cent of the total population.
So far, an estimated 600 billion dong (roughly US$ 37.2 million) have been invested in building Internet service infrastructure facilities in Viet Nam. By June 2005, the country's international Internet band-width had reached 2,690Mbps. Its Internet services have been improved remarkably both in quality and quantity.
Accessed on 15 August
< http://www.vneconomy.com.vn/eng/index.php?param=article&catid=06&id=4e746ff72f75af >

Lao People’s Democratic Republic and Viet Nam cooperate in mineral exploration. Thanhien News, 14 August 2005.
The Viet Nam Economic Cooperation Corporation will invest about US$1.3 million to explore tin and lead mines in the Lao People’s Democratic Republic, namely tin mines in the 16 sq. km area in Nampan village, central Bolikhamsay province, and lead mines in a 56 sq. km area in Huoilom village, northern Huaphan province. In case of discovery, the contract allows the corporation to invest in mining the two minerals.
Accessed on 15 August < http://thanhniennews.com/business/?catid=2&newsid=8533 >

BRUNEI DARUSSALAM
Brunei Darussalam, Pakistan sign double tax agreement. Brunei Direct, 22 August 2005.
Brunei Darussalam and Pakistan have agreed on the draft for the Convention on Avoidance of Double Taxation. This was decided during the negotiations between a Brunei Darussalam tax delegation which had arrived in Islamabad on 17 August and held a second round of negotiations with tax authorities from August 18-20.
Accessed on 23 August
< http://www.brudirect.com/DailyInfo/News/Archive/Aug05/220805/nite02.htm >

CHINA
Investors focus on e-commerce sector. China View, 12 August 2005.
A new wave of investment is focusing on the e-commerce sector of the economy of China. Websites from China are becoming the most frequented on the Internet. Four of the 10 most visited sites worldwide are from China. Despite the growing number of Internet users, the Internet market in China is still small as a percentage of its population. There are 103 million Internet users in the country, or 7.9 per cent of the country’s population. For e-commerce, the market is still rather small, with just 0.4 per cent of Internet use devoted to it. The potential for growth, therefore, is enormous as the number of people willing to purchase items online is growing faster than the number of Internet users.
Accessed on 15 August < http://news.xinhuanet.com/english/2005-08/12/content_3342486.htm >

INDONESIA
China to invest US $7.5 billion in seven projects in Indonesia. Antara News, 2 August 2005.
China will invest a total of US $7.5 billion in seven projects in Indonesia, namely the geothermal power plants in Muara Enim district and Baturaja district in South Sumatra and Tanjung Jati area in Central Java; a transportation system and coal port in South Sumatra; a railway track between Tanjung Enim and Tarahan district in South Sumatra; a Chinese industrial zone in Karawang in West Java; a fishery industry in the eastern part of Indonesia; and a refinery and oil and gas exploitation cooperation between state oil and gas company PT Pertamina and its Chinese counterpart Sinopec in Tuban district in East Java.
Accessed on 5 August < http://www.antara.co.id/en/seenws/index.php?id=5494 >

PAKISTAN
SEC chief calls for adoption of International Financial Standards. Daily Times, 4 August 2005.
Promoting the adoption of the International Financial Reporting Standards (IFRS), the Chairman of the Securities and Exchange Commission of Pakistan (SEC) has expressed the need of concerted efforts to address the lack of transparency and accountability in the corporate sector as well as the financial reporting requirements emanating from increased globalization of capital markets. He said that, as with all other sectors, the accountancy profession in Pakistan would have to gear up to these challenges by improving upon the work quality, ethical standards and general practice of their profession in order to obtain international recognition and mobility.
Accessed on 5 August < http://www.dailytimes.com.pk/default.asp?page=story_4-8-2005_pg5_9 >

Japanese firms to enhance investment in Pakistan. Business Recorder, 10 August 2005.
A number of Japanese companies announced expansion and enhancement in their business activities and investment in Pakistan, including the construction of gas pipeline. The commitments came during meetings of chief executive officers (CEOs) of many companies of Japan and the Prime Minister of Pakistan who said that his current visit to Japan was part of the ‘look East’ policy of Pakistan. He underlined his country’s interest in Japan which is one of the major trading partners of Pakistan and sought its co-operation in home textiles and development of human resource.
Accessed on 10 August
< http://www.brecorder.com/index.php?id=310425&currPageNo=1&query=&search=&term=&supDate= >

REPUBLIC OF KOREA
Foreign financial institutions allowed to set up financial holding firms. Korea Herald, 9 August 2005.
The Republic of Korea will allow foreign financial institutions to establish financial holding firms as early as at the beginning of next year. This move is part of the comprehensive measures to review 269 financial regulations by a task force team comprised of financial regulators and the private sector. The financial regulators have unveiled a series of measures to attain the goal for the Republic of Korea to be a financial hub of Northeast Asia.
Accessed on 15 August
< http://www.koreaherald.co.kr/SITE/data/html_dir/2005/08/09/200508090041.asp >

VIET NAM
Foreign-invested firms to list shares on market. Viet Nam News Agency, 11 August 2005.
Foreign invested enterprises (FIEs) which are converting to shareholding companies can now get on the domestic securities bourse following a new instruction of the State Securities Commission (SSC). Besides, foreign investors in each shareholding company are now permitted to hold 30 per cent of the company’s total listing share certificates.
Accessed on 15 August <http://vietnamnews.vnagency.com.vn/showarticle.php?num=02ECO110805>

Viet Nam wants investment in textile, leather footwear sectors. Yahoo News, 16 August 2005.
Viet Nam has announced that the country should call on all domestic economic sectors and foreign investors to invest in producing materials and accessories for the textile-garment and leather footwear industries, the country's two key exports. In order to increase the production of materials and accessories for these two industries, a more open policy and more incentives in land and taxes are needed to encourage domestic businesses.
Accessed on 23 August < http://asia.news.yahoo.com/050816/4/25qs6.html >

Read the whole report from the Fiji Government Online Portal:
< http://www.fiji.gov.fj/publish/page_5284.shtml >
Accessed on 29 August 2005.

… India introduces energy labeling?
India will introduce the star rating for consumer electronic and electrical appliances by the end of this year. The rating will grade models on their energy efficiency, starting from one star, implying least energy efficient, to a five star grade for the most energy efficient model. Several developed countries like Australia, the United States of America and most of the countries in Europe already follow these standards.

Read the whole report from the Business Standard:
< http://www.business-standard.com/search/storypage_new.php?leftnm=lmnu1&leftindx=1&lselect=1&autono=196935 >
Accessed on 29 August 2005.

… Online trading of palm oil cuts cut cost and processing time?
A shift from conventional trading for palm oil industry players to online-based trading and procurement could save the industry up to M$ 1.57 billion a year and reduce processing time by as much as 70 per cent.

Read the whole report from the business times:
<http://www.btimes.com.my/Current_News/BT/Wednesday/Nation/20050809234017/Article/>
Accessed on 10 August 2005.

… Singapore will expand online business licensing service?
Singapore will make it easier for entrepreneurs to obtain business licences online. Besides allowing entrepreneurs to apply for licences to start a firm, Singapore will soon allow companies to update, renew and terminate licences online.

Read the whole report from Asia News Network:
< http://www.asianewsnet.net/level3_template1.php?l3sec=2&news_id=44678 >
Accessed on 29 August 2005.

… Thailand’s first-ever compact disc (CD) copyright law is due to be implemented?
Thailand’s first-ever compact disc (CD) copyright law is due to be implemented late this month to provide intellectual property rights (IPR) protection for both Thai and foreign products. Under the law, CD and DVD manufacturers must report to the department their manufacturing machine number, raw-material stockpiles and warehouse. They also have to inform the department within 30 days after purchasing related raw materials, particularly plastic.

Read the whole report from the Nation:
<http://www.nationmultimedia.com/2005/08/09/business/index.php?news=business_18294921.html>
Accessed on 15 August 2005

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