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ASEAN+3 economic ministers approve 5 new projects. Nhan Dan, 25 August 2006.
ASEAN economic ministers and ministers from China, Japan and the Republic of Korea (ASEAN+3) approved five new cooperation projects at their 9th consultations. The approved projects are on information and communication technology cooperation towards co-prosperity in East Asia; ASEAN+3 website for customs information exchange; ASEAN+3 logistics cooperation for future trade facilitation; ASEAN+3 cooperation for internationally comparable statistics; and an agricultural technology and management training programme for ASEAN countries.
Accessed on 28 August < http://www.nhandan.com.vn/english/news/250806/domestic_asean.htm >

ASEAN signs trade pact with United States of America. CNN, 25 August 2006.
Southeast Asian trade ministers have signed an expanded trade and investment agreement with the United States that calls for a mechanism that allows United States imports easier access to the region. The agreement includes cooperation on pharmaceutical regulatory issues aiming at speeding the delivery of innovative medicines to ASEAN countries and facilitates the cooperation concerning sanitary issues in specific agricultural goods. Two-way trade between Southeast Asia and the United States reached US$ 152 billion in 2005.
Accessed on 25 August < http://edition.cnn.com/2006/BUSINESS/08/24/asean.pact.ap/ >

BANGLADESH
Bangladesh and Cambodia ink trade agreement. Asia News Yahoo, 7 August 2006.
Bangladesh and Cambodia have signed a trade agreement aimed at boosting economic development and strengthening bilateral relations between the two countries. The agreement will establish the principles of equality and mutual benefit and most favored-nation treatment for enhancing economic development in the two countries.
Accessed on 15 August < http://asia.news.yahoo.com/060807/4/2o42p.html >

CHINA
Chile and China sign trade deal. BBC, 22 August 2006.
China and Chile have signed an FTA, China’s first with a South American country. The agreement will give China better access to Chile’s extensive natural resources, such as copper, while Chile will be able to target the vast Chinese market. The treaty will free 92 per cent of Chile’s exports to China from customs tariffs and remove Chilean tariffs on 50 per cent of China’s exports. Other Chilean exports will remain subject to ongoing tariffs for between five and ten years.
Accessed on 23 August < http://news.bbc.co.uk/2/hi/business/5273344.stm >

INDIA
EU to approach World Trade Organization to cut Indian duties on whisky and wine. Hindustan Times, 1 August 2006.
The European Union has decided to seek the removal of India’s restrictive import duties under the World Trade Organization’s (WTO) dispute settlement mechanism. Based on a complaint lodged in July 2005, the European Commission initiated an investigation in September 2005 and has now concluded that the levy of additional duty and extra additional duty amounted to “blatant cases of breaching fundamental WTO rules”.
Accessed on 15 August < http://www.hindustantimes.com/news/181_1757834,00020008.htm >

India and Tajikistan to further bilateral trade. Economic Times, 2 August 2006.
India and Tajikistan have agreed to further develop bilateral cooperation in the areas of trade, industry, agriculture, construction, transport, education, scientific and technical cooperation as well as tourism. In order to widen trade and economic relations, the two countries will hold business forum meetings. Both sides have underlined the importance of establishing long-term cooperation in the field of industry and have agreed to make efforts to achieve this goal, especially in view of the great potential for cooperation in the manufacturing sector in textiles, chemicals, construction materials, mining and processing of light metals.
Accessed on 15 August < http://economictimes.indiatimes.com/articleshow/1842196.cms >

India and Mauritius conclude eighth round of CEPCA talks. Tax News, 11 August 2006.
The eighth round of the Comprehensive Economic Cooperation and Partnership Agreement (CEPCA) talks between Mauritius and India concluded on 8 August. The talks focused on trade in goods, trade in services, investment and economic cooperation. With regard to trade in goods, the text for the preferential trade area, rules of origin, operational procedures and preferential safeguards were finalized and prepared for signature. India has also agreed to seek the necessary mandate on the proposal of Mauritius to finalize a free trade area within a period of four to six months. Discussions were also held on the request for market access in trade in services by both sides, particularly in accounting and auditing, health services, computer and computer-related services, tourism and financial services. A framework text on investment was also finalized.
Accessed on 15 August < http://www.tax-news.com/asp/story/story_open.asp?storyname=24509 >

PAKISTAN
ADB to give US$ 1 billion for Pakistan’s trade corridor. The Daily Star, 20 August 2006.
The Asian Development Bank (ADB) has agreed to provide US$ 1 billion for Pakistan’s National Trade Corridor (NTC) project that will link Karachi to Gwadar and Khunjrab in the North. The World Bank and other lenders have already agreed to provide US$ 1.8 billion for the Karachi-Gwadar-Khunjrab section, which is estimated to cost US$ 2.8 billion. The overall cost of the NTC programme, which envisages improving all sectors of communications, including ports, shipping, aviation, etc. is estimated at US$ 6 billion.
Accessed on 23 August < http://www.thedailystar.net/2006/08/20/d60820050873.htm >

REPUBLIC OF KOREA
Republic of Korea and United States swap tariff cut proposals. The Dong A Ilbo, 16 August 2006.
The Republic of Korea and the United States have exchanged tariff cut proposals on 15 August as a step to reach an FTA. The proposals include 11,261 items in manufactured goods, agricultural products and textiles. In the second round of FTA negotiations, both sides agreed on a phased implementation of the elimination of tariffs on manufactured goods. The proposals allow for a five-tiered lifting of tariffs from the day the proposals come into effect. The five tiers are immediate elimination, elimination within three, five and ten years, and longer grace periods. After reviewing each other’s proposals, negotiators will participate in the third round of talks in Seattle between 6 and 9 September, where the specific implementation periods will be discussed on each item.
Accessed on 16 August
< http://english.donga.com/srv/service.php3?bicode=020000&biid=2006081674318 >

SINGAPORE
Singapore asks India to widen import list and relax origin rules. Economic Times, 4 August 2006.
Singapore, which entered into a comprehensive economic cooperation agreement with India last year, has now asked India to add 752 items ranging from edible oils to electronics to the list of products being imported from Singapore on concessional terms. It also asked for a relaxation of the rules for determining the origin of products so that more items could qualify for preferential treatment. India replied that while some additional concessions could be extended to Singapore, it would not be possible to accommodate all their demands.
Accessed on 15 August < http://economictimes.indiatimes.com/articleshow/1849879.cms >

TONGA
Tonga defers WTO membership for a year. MSN Money, 27 July 2006.
After ten years of negotiations to join the WTO, Tonga has now deferred membership in the body for a year. Tonga joined the WTO in December 2005, subject to formal ratification. Tonga emphasized that the delay did not mean that Tonga was withdrawing its WTO membership application, but that it needed more time to improve its tariff system. Tonga earns around two-thirds of its revenue from trade taxes. Cutting tariffs might affect its ability to provide basic health care, education, water supply and other essential services.
Accessed on 23 August
< http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=AP&Date=20060727&ID=5899905 >

WORLD TRADE ORGANIZATION (WTO)
WTO Aid for Trade Task Force submits final report to members. Bridges Weekly, 2 August 2006.
The WTO Task Force on Aid for Trade has presented its final recommendations. The task force was established in February with a mandate to provide Members with recommendations for how Aid for Trade might contribute most effectively to the development dimension of the Doha Development Agenda. It further emphasizes the need to mainstream trade-related issues into national development strategies. It identifies a number of challenges involved with doing so, such as the lack of private sector involvement in identifying trade needs, the limited absorptive capacity of recipient countries, ineffective monitoring, and the slow, duplicative and bureaucratic processes in the assessment and delivery of trade-related assistance. The task force suggests that country ownership and country-driven approaches, as well as a commitment of Governments to fully mainstream trade into their development strategies, is key. It also emphasizes mutual accountability, aligning aid to national development strategies, effective donor coordination, harmonization of donor procedures and transparency.
Accessed on 15 August < http://www.ictsd.org/weekly/06-08-02/story3.htm >

Customs duty on palm oils and palmolein cut ten per cent. Financial Express, 10 August 2006.
In a bid check prices of essential commodities, India has cut customs duty by ten per cent on crude and refined palm oils and palmolein. Effective from 10 August, the duty on crude palm oil, crude palmolein and other varieties of crude palm oil will be reduced to 70 per cent from 80 per cent. In case of refined bleached deodorized palm oil, palmolein and other refined palm oils, the duty will be cut to 80 per cent from the present 90 per cent.
Accessed on 15 August < http://www.financialexpress.com/fe_full_story.php?content_id=137043 >

ISLAMIC REPUBLIC OF IRAN
Islamic Republic of Iran and South Africa sign customs cooperation agreement. IRNA, 23 August 2006.
The Islamic Republic of Iran and South Africa have signed a customs cooperation agreement to facilitate trade between the two countries. The two sides issued a joint statement, voicing their interest in expanding extensive relations in different sectors of politics, economics, sports, culture and arts. They will set up a preliminary regional healthcare network in one of the states of South Africa. They also agreed to expand their scientific cooperation in biotechnology, nanotechnology and conversion of gas into oil products and to encourage joint ventures for the distribution of petrochemical, chemical and polymer products in the Islamic Republic of Iran, South Africa or other countries.
Accessed on 24 August < http://www.irna.ir/en/news/view/menu-237/0608237784163706.htm >

MALDIVES
Customs to grant tariff concessions on items used in projects. Haama News, 30 July 2006.
Maldives Customs Services (MCS) has announced that items imported for temporary use and returned to their origins will not be levied import duty. Concessions on items that are imported for temporary use range from ten per cent to 100 per cent of the commercial prices. If an item is imported for temporary use and returned in 30 days, MCS will charge zero tax on the item. If such an item is imported and used within a period of two years and returned, a ten per cent tariff concession is granted by MCS.
Accessed on 15 August
< http://www.haamadaily.com/English%20Section/Jul%2006/30-07-06/customs.htm >

RUSSIAN FEDERATION
Government lifts gasoline import duty. Kommersant, 4 August 2006.
The Russian Federation is lifting the five per cent import duty on A-95/98 gasoline in an effort to improve competition on the market and stabilize prices for premium gasoline.
Accessed on 15 August < http://www.kommersant.com/page.asp?idr=528&id=695085 >

TONGA
Tonga postpones new customs tariffs. Metangi Tonga News Online, 2 August 2006.
Tonga’s decision to defer its accession to the WTO until July next year results in postponement of the planned new customs tariff. The decision means that Tonga will continue, for another 12 months, to collect revenue under the old tariff rate and will also withhold the introduction of new indirect tax regimes.
Accessed on 4 August < http://www.matangitonga.to/article/tonganews/economy/wto020806.shtml >

Customs PC trade system to go live on 1 October. Pacific Magazine, 10 August 2006.
Tonga’s Head of Customs said that the Customs PC Trade System is expected to be implemented on 1 October 2006. PC Trade is an electronic lodgment and clearance system for importers and exporters that is designed to streamline the current process of clearing goods. It is envisaged that a large percentage of imported goods into Tonga will be able to be delivered without the need for further Customs intervention at the border. Post-clearance compliance audits will be fully introduced which will allow Customs to measure compliance with Customs legislation. The electronic system will also allow for the phasing out of most registers and the need to manually record details of imported, exported and warehoused goods will no longer be necessary.
Accessed on 15 August < http://www.pacificislands.cc/pina/pinadefault2.php?urlpinaid=23994 >

TURKEY
Customs exemption for goods whose price doesn’t surpass 100 euros. The New Anatolian, 4 August 2006.
All kinds of goods, sent from abroad to a person within the Turkish Customs Zone by letter, by post package or by fast cargo transportation, and of which the real value doesn’t exceed 100 euros per sending, will be exempted from customs duty. The decision does not include alcohol and tobacco as well as derivative products of both.
Accessed on 15 August < http://www.thenewanatolian.com/tna-12254.html >

VIET NAM
Viet Nam cuts tariffs for Cambodia’s farm produce. Nhan Dan News, 5 August 2006
Effective from 1 September, Viet Nam will grant a zero tax rate to 40 agricultural products imported from Cambodia. However, rice and tobacco will be subject to Viet Nam’s import quotas. The new tariff structure reflects Viet Nam’s efforts to reduce poverty in Cambodia and increase trade relations with its southwestern neighbor. Two-way trade between Viet Nam and Cambodia in the first half of this year increased 28.7 per cent from the corresponding period last year to US$ 417 million.
Accessed on 5 August < http://www.nhandan.com.vn/english/business/050806/finance_vietnam.htm >

Viet Nam Prime Minister calls for tariff cut ‘roadmap’ ahead of WTO membership. Thanh Nien News, 11 August 2006.
The Prime Minister of Viet Nam told the Ministries of Finance and Trade to publish a roadmap for tariff reductions to comply with international commitments Viet Nam has made to its trading partners. Further, the Ministry of Finance must also consider ways to offset the reduced revenues following the tax cuts. Together with other agencies, it must draft comprehensive plans to raise, allocate and effectively use foreign aid. In bilateral negotiations on market access with the 26 trading partners, taxation emerged as the most complex and sensitive issue. The 22 per cent reduction in import duties will be implemented over a five-year period after Viet Nam becomes a member. Reductions vary from sector to sector, ranging from a two per cent reduction on imported minerals to a 63.2 per cent reduction on textiles and garments. The tariffs on imported seafood will be cut by 38.4 per cent, on leather and rubber by 21.5 per cent and on agricultural products by 10.6 per cent.
Accessed on 15 August < http://www.thanhniennews.com/politics/?catid=1&newsid=18768 >

BANGLADESH
Government moves to make businesses aware of anti-dumping rules. The Daily Star, 16 August 2006.
The Government of Bangladesh has initiated a campaign programme to make businesspeople aware of how to handle anti-dumping measures. To this end, the Ministry of Commerce formed a committee to examine the existing anti-dumping rules and to disseminate information to the businesspeople so that they can take safeguard measures to protect their industries.
Accessed on 16 August < http://www.thedailystar.net/2006/08/16/d60816050157.htm >

CHINA
China rules against EU potato starch exporters in anti-dumping case. People’s Daily Online, 19 August 2006.
The Ministry of Commerce has ruled that potato starch producers from the European Union are guilty of dumping on the Chinese market, damaging China’s domestic industry. Effective from 18 August, importers of potato starch from the EU have to pay duties, the amount of which depends on the extent of the dumping by each producer. It will range from 35 per cent to 57.1 per cent.
Accessed on 23 August < http://english.people.com.cn/200608/19/eng20060819_294615.html >

EUROPEAN UNION (EU)
EU to push for tariff on fridges of the Republic of Korea. The Korea Times, 15 August 2006.
The European Union has confirmed anti-dumping duties on large side-by-side refrigerators of the Republic of Korea. The duties are set at between 3.4 per cent and 12.2 per cent. The Republic of Korea holds about 65 per cent of the side-by-side refrigerator market in Europe. The United Kingdom was the largest single importer of Republic of Korean side-by-side refrigerators, followed by France and Germany.
Accessed on 16 August < http://times.hankooki.com/lpage/biz/200608/kt2006081518202911870.htm >

INDIA
Government imposes 108 per cent anti-dumping tariff on Chinese silk products. Bharat Textile, 12 August 2006.
India has imposed 57 to 108 per cent emergency tariff on silk from China to control dumping policy. Currently, India is conducting an anti-dumping investigation on silk products from China but has not posted any result over the matter.
Accessed on 15 August < http://www.bharattextile.com/newsitems/2000938 >

Shrimp consignments to Japan to carry lab reports. Financial Express, 14 August 2006.
Japan has announced that all consignments of aquaculture shrimp from India to Japan have to be accompanied by a test/analytical report. The Indian Marine Products Export Development Authority (Mpeda) has published a list of eight Export Inspection Agency-approved laboratories whose certificate is mandatory for shipping out to Japan. Mpeda states that without certificates stating that metabolite is absent, the consignments would be detained and tested there. Even with the test report, the quarantine station in Japan could test consignments as part of monitoring. Mpeda also published list of agriculture chemicals such as pesticide, herbicide, etc. and veterinary drug such as antibiotic for which the minimum levels had been fixed by Japan.
Accessed on 16 August < http://www.financialexpress.com/fe_full_story.php?content_id=137252 >

JAPAN
Japan lifts ban on United States beef imports. MSNBC.com, 27 July 2006.
Japan announced the resumption of beef imports from the United Sates, ending a ban imposed over concerns about mad cow disease and removing a strain in relations with the United States. The latest ban was imposed in January 2006 when Japanese inspectors checking a veal shipment found banned parts that are believed to be risky. It was lifted after Japanese representatives toured United States facilities to ensure they met safety guidelines.
Accessed on 28 July < http://www.msnbc.msn.com/id/14067330/ >

Japan to extend anti-dumping tariffs on United States for another year. Yahoo News, 4 August 2006.
Japan has decided to maintain 15 per cent punitive tariffs on United States ball bearings and steel products until 31 August 2007 in retaliation against the continued implementation of a controversial United States anti-dumping trade law known as the Byrd Amendment. The WTO has ruled the Byrd Amendment as illegal because it distributes funds to United States firms affected by unfair trade. It has provoked ire from major trading partners, leading to retaliatory sanctions from Japan, the European Union and Canada. The measures, which originally started last year, will become effective 1 September after the cabinet gives its approval.
Accessed on 17 August
< http://news.yahoo.com/s/afp/20060804/ts_alt_afp/japanusdumping_060804134532 >

NEW ZEALAND
Anti-dumping duties imposed over peaches. Stuff, 11 August 2006.
New Zealand has moved to protect local canned peaches by imposing anti-dumping duties on peaches being imported from China. A dumping investigation is currently under way and due to be completed by the end of August.
Accessed on 16 August < http://www.stuff.co.nz/stuff/0,2106,3760840a13,00.html >

UNITED STATES OF AMERICA
Commerce Department finds unfair dumping and subsidies on lined paper products from India. United States Department of Commerce, 1 August 2006.
The Department of Commerce announced its affirmative final determinations in the anti-dumping and countervailing duty investigations on lined paper products from India. It determined that Indian producers/exporters have sold lined paper products in the United States at 3.91 to 23.17 per cent less than fair market value. It also determined that Indian producers/exporters of lined paper products have received net countervailable subsidies ranging from 1.67 to 10.24 per cent. The United States International Trade Commission (ITC) is now scheduled to make its final injury determinations in September. Under the law, the ITC examines whether the United States industry is injured or threatened with injury by imports of the subject merchandise.
Accessed on 15 August < http://trade.gov/press/press_releases/2006/linedpaper_080106.asp >

INDIA
India to put US$ 1 billion in African oil. BBC, 14 August 2006.
India plans to invest US$ 1 billion into developing oil and mining projects in Africa’s Republic of Côte d'Ivoire over the next five years. The country hopes to tap into the region’s vast oil wealth by accessing the Gulf of Guinea’s shoreline. Furthermore, to boost trade ties, India has said it was looking to open new factories in the region. India’s Oil and Natural Gas Commission has already invested US$ 12 million to explore an offshore block in the region, which it is now drilling.
Accessed on 17 August < http://news.bbc.co.uk/2/hi/business/4791381.stm >

INDONESIA
Government to launch three incentives to support electronic industry. Antara, 31 July 2006.
Indonesia will launch three different incentives to contribute to the growth and development of the electronic industry in the country, especially in facing the current gloomy market. The three incentives are the expansion of the abolition of luxury goods sales tax on electronic products; an incentive to fresh investments under the revised Government Regulation No 148 of 2000, namely a 30 per cent cut of income tax and reduction of amortization period to five years; and an incentive on the extent of local content. Under this ruling, locally made electronic products might be prioritized in State budget-funded Government procurement of goods and services. The Ministry of Industry is also considering the abolition of import duties on electronic components like plastics and flat steel which are still not domestically manufactured.
Accessed on 15 August < http://www.antara.co.id/en/seenws/?id=17344 >

JAPAN
Japan and Viet Nam sign scientific cooperation agreement. Bilaterals, 22 August 2006.
Japan and Viet Nam have signed an agreement to facilitate exchanges of information, scientists and technicians; and provide training to improve professional skills and the protection of intellectual property rights. Under the agreement, each side will ensure favorable conditions for individuals and units from both private and public sectors to join cooperative activities.
Accessed on 23 August < http://www.bilaterals.org/article.php3?id_article=5607 >

KAZAKHSTAN
Kazakhstan’s national oil company works on a refinery project in Turkey. The New Anatolian, 14 August 2006. Kazakhstan’s national oil company is carrying out feasibility studies to build a refinery in the Black Sea at the coast of Turkey to transfer Kazakh oil to the Mediterranean region.
Accessed on 23 August < http://www.thenewanatolian.com/tna-12711.html >

MALAYSIA
EU to boost biotech ties with Malaysia. MIDA, 10 August 2006.
The EU aims to further improve cooperation with Malaysia, particularly in the field of research in biotechnology and stated that Malaysia’s environmental heritage had great economic potential to serve as a renewable resource for the biotechnology industry. In this respect, the EU invited researchers to take a closer look at how the EU-funded research programmes could support their researches and link up Indonesia-based researchers with EU-based research institutions and networks.
Accessed on 15 August < http://www.mida.gov.my/beta/news/view_news.php?id=2651 >

MONGOLIA
Grant project launched to upgrade training and skills in Mongolia’s construction industry. ADB, 4 August 2006.
The Asian Development Bank has launched a grant project to enhance job and income-earning opportunities in the construction industry for unemployed youth and adults of Mongolia. The project, backed by a grant of US$ 1 million, will focus on boosting skills of those wanting to enter construction. It will establish public-private partnerships to promote training, design and test a new training system that utilizes approaches such as on-the job training and placements within the industry, and upgrade selected public and private training centers, including facilities and the teaching and learning environment.
Accessed on 15 August < http://www.adb.org/Media/Articles/2006/10372-Mongolia-skills-training/ >

REPUBLIC OF KOREA
Incentives offered for greenhouse gas cut. The Korea Times, 27 August 2006.
The Ministry of Commerce, Industry and Energy (MOCIE) announced that financial incentives would be given to firms voluntarily cutting down on global warming gases such as carbon dioxide and methane. Companies will be required to submit a gas-reduction plan to the Korea Energy Management Corporation (KEMC) for verification. The cash incentive is designed to encourage more companies to adopt environment-friendly technologies and invest in other measures to reduce greenhouse gases.
Accessed on 28 August < http://times.hankooki.com/lpage/biz/200608/kt2006082718121111890.htm >

VIET NAM
Viet Nam and Venezuela sign energy pact. Than Nienh News, 31 July 2006.
Venezuela and Viet Nam have signed an energy cooperation pact. Besides the energy cooperation pact, ministers of the two countries, which have only set up embassies in Hanoi and Caracas over the past year, signed a diplomatic framework pact and an agreement on culture cooperation.
Accessed on 15 August < http://www.thanhniennews.com/politics/?catid=1&newsid=18308 >

Viet Nam and Cambodia to share oil resources. Thanh Nien News, 21 August 2006.
Cambodia and Viet Nam have announced that they will cooperate to study and explore Cambodia’s potentially rich offshore oil reserves. Viet Nam is an established oil producer, ranking third in oil production among the 10-nation ASEAN. Most of its production comes from offshore basement reservoirs, similar to Cambodia’s richest known reservoirs. Cambodia said it hoped drilling would begin by 2008.
Accessed on 23 August < http://www.thanhniennews.com/business/?catid=2&newsid=19098 >

CHINA
Insurers face new regulation. People’s Daily Online, 15 August 2006.
Effective from 1 September, insurers in China will be banned from including survival benefits in their medical and disease insurance policies. When selling policies to protect against losses caused by medical bills and diseases, insurers can’t include the survival benefits. The new rules also stipulate that when insurers are selling health policies as an appended product to a main policy, the effective term of the health policy shall be at least as long as that of the main policy. The latest move is aimed at protecting policy holders who have complained about getting no compensation from insurance companies.
Accessed on 16 August < http://english.people.com.cn/200608/15/eng20060815_293317.html >

China tightens bank lending in real estate sector. China Economic Net, 17 August 2006.
The China Banking Regulatory Commission (CBRC) has issued a new policy tightening bank credit in the real estate sector in the hope of fending off possible risks fuelled by sizzling property lending. Under the new policy, financial institutions shall not grant loans to property development projects whose developers fail to raise 35 per cent of the investment from their own resources. The new policy also tightens lending to developers who are suspected of hoarding land and property to artificially enhance expectations of widespread sales. For personal housing mortgage loans, the new policy suggests that banks will decide how much a borrower will have to put down based on their credit worthiness, instead of using a unified standard.
Accessed on 18 August
< http://en.ce.cn/Business/Macro-economic/200608/17/t20060817_8170118.shtml >

China enacts new bankruptcy law. BBC, 28 August 2006.
China has passed a new bankruptcy law that will address not only state but also private firms for the first time. The legislation, which gives greater protection to creditors, will apply to foreign and domestic firms alike. The move brings China more in line with market-based countries, where it is standard practice to pay creditors first. The bill will also permit firms that are struggling financially to request reorganization.
Accessed on 28 August < http://news.bbc.co.uk/2/hi/business/5291910.stm >

MALAYSIA
Malaysia raises foreign ownership of insurers to 49 per cent. Business Times, 23 August 2006.
Malaysia has raised the bar for foreign ownership in local insurance firms to 49 per cent from 30 per cent previously, to harness the potential for financially strong and internationally known foreign players. The move is expected to enhance the development of domestic capabilities, particularly in the areas of technical expertise, innovation and improved operating processes.
Accessed on 23 August
< http://www.btimes.com.my/Current_News/BT/Wednesday/Nation/BT582997.txt/Article/ >

PAKISTAN
First mutual fund launched abroad. Business Recorder, 28 July 2006.
Pakistan has made its first portfolio investment abroad by launching the Pakistan International Element Islamic Fund (PIIF). The investment has been made in three different United States-run Islamic mutual funds, one representing large-capital investment in United States blue chip companies, one in in diverse European companies and one in leading Chinese, Japanese, Republic of Korean companies.
Accessed on 28 July
< http://www.brecorder.com/index.php?id=457149&currPageNo=1&query=&search=&term=&supDate= >

REPUBLIC OF KOREA
Cambodia and Republic of Korea plan joint bourse. The Korea Times, 7 August 2006.
The Republic of Korea will establish a joint stock exchange in Cambodia as part of moves to strengthen ties with Southeast Asian bourses. The Korea Exchange sent a draft MoU to the Cambodian Government to this effect. The two sides are expected to sign a contract soon and to start work on the establishment of the bourse within this year. It is the second time for Korea Exchange to be involved in a stock exchange building project overseas after a similar project in Viet Nam in 2000.
Accessed on 7 August <http://times.hankooki.com/lpage/biz/200608/kt2006080717495611880.htm >

TURKMENISTAN
Ministry of Social Welfare of Turkmenistan to set up pension accumulation. Trend, 16 August 2006.
The President of Turkmenistan has signed a resolution approving the regulations on organization and maintaining of personified records of retirement insurance as well as on the procedures and terms of investment of pension accumulations. The document was signed in connection with the adoption of the revised law on pensions to improve organization and maintenance of records of pension accumulations and their investment. Under the new resolution, the Ministry of Social Welfare is tasked to set up a department for pension accumulations.
Accessed on 16 August < http://www.trend.az/?mod=shownews&news=25641&lang=en >

VIET NAM
Viet Nam releases decree on investments abroad. Thanh Nien News, 12 August 2006.
Viet Nam has issued a decree supporting the new Investment Law to provide a legal framework and simplify procedures for domestic investments abroad. The first decree issued on the law allows domestic businesses, both public and private, to go ahead with their overseas investment plans if they fail to receive a reply from Government agencies within 15 days of application. The Prime Minister’s approval is required for investing above a certain amount in the banking, finance, insurance, mass media and telecom sectors. The limit is VD 150 billion for State companies and VD 300 for others. For investment in other sectors, the limits are VD 300 billion and VD 600 billion.
Accessed on 15 August < http://www.thanhniennews.com/politics/?catid=1&newsid=18783 >

A package of optical-disc forensics equipment, including a microscope, camera and specialized software, will aid efforts to combat intellectual property piracy in Thailand by enabling authorities to identify compact discs and digital video discs manufactured by specific machines.

Read the whole report from the USInfo:
< http://usinfo.state.gov/xarchives/display.html?p=washfile-english&y=2006&m=August&x=20060811143513bpuh0.6223566 >
Accessed on 15 August

… a waterproof rice gene has been identified?

Scientists say they have identified a gene that will allow rice plants to survive for up to two weeks when being completely submerged in water

Read the whole report from the Truth about Trade:
< http://www.truthabouttrade.org/article.asp?id=6167 >
Accessed on 15 August

… ASEAN will forge a single regulatory scheme for cosmetics in 2008?

ASEAN will establish a single regulatory scheme for the region’s cosmetics industry from the start of 2008. The scheme will establish common standards, lowering manufacturing costs and increasing trade in the goods traded within ASEAN.

Read the whole report from Channel News Asia:
< http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/226128/1/.html >
Accessed on 23 August

… Beijing’s ATMs will recognize your face?

Beijing will equip ATM machines with a face recognition system to detect criminal suspects and prevent cash withdrawal frauds.

Read the whole report from SINA English:
< http://english.sina.com/china/1/2006/0814/86078.html >
Accessed on 15 August

… new oil and gas deposits were discovered in Myanmar?

Signs of new oil and gas deposits have been discovered off Myanmar’s coast, raising the prospect of further foreign investment in the country.

Read the whole report from Asia News Yahoo:
< http://asia.news.yahoo.com/060807/afp/060807044051eco.html >
Accessed on 23 August

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