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BIMSTEC
BIMSTEC meet on institutional set up for accord implementation. WebIndia123, 10 October 2005.
The Bay of Bengal Initiative for Multisectoral Technical and Economic Cooperation (BIMSTEC) Trade Negotiation Committee, a body of official-level trade experts, has agreed to set up an institutional arrangement to oversee the implementation progress of the agreement on trade among the member countries once it is signed. The trade experts under BIMSTEC are currently meeting for the eighth time to finalize a draft agreement on trade among the seven South and Southeast Asian member-nations, namely Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand. The meeting focuses on issues such as sensitive lists, rules of origin and dispute-settlement mechanism.
Accessed on 11 October < http://news.webindia123.com/news/showdetails.asp?id=134186&cat=India >

CHINA
China and Gulf Cooperation Council hold negotiations for free trade and Rules of Origin, Fibre2Fashion, 10 October 2005.
China and the Gulf Cooperation Council (GCC) held Free Trade Area negotiations in Riyadh, Saudi Arabia from 28 - 29 September 2005. The two sides exchanged views on the issues of tariff reduction of cargo trade and rules of origin. GCC is a regional economic organization in the Gulf Area, grouping Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
Accessed on 11 October
< http://www.fibre2fashion.com/news/daily-textile-industries-news/newsdetails.aspx?news_id=5787 >

INDIA
India mulling FTA with Australia. Bilaterals, 5 October 2005.
India is exploring the possibility of a Comprehensive Economic Cooperation Agreement (CECA) with Australia, naming a Free Trade Agreement (FTA) as possible component. Such an agreement could cover trade in goods and services as well as investment. India will discuss the matter with Australia on the sidelines of a WTO meeting scheduled in Geneva in October. Both sides acknowledged that complementarities between the two economies will facilitate closer economic co-operation, especially with Western Australia, which accounts for over 40 per cent of Australia’s total exports. India expressed interest in cooperating with Australia in the hydro-carbon sector.
Accessed on 6 October < http://www.bilaterals.org/article.php3?id_article=2874 >

LAO PEOPLE’S DEMOCRATIC REPUBLIC
Lao People’s Democratic Republic takes a step closer to WTO. Vientiane Times, 10 October 2005.
The Ambassador of the EU stated that the establishment of an information office was both a prerequisite for Lao People’s Democratic Republic accession to the World Trade Organization as much as it also was a means to facilitate trade. The European expert on technical barriers to trade advised government officials on how to establish an ‘enquiry point' to help Lao People’s Democratic Republic importers and exporters. Such an office would provide information on issues such as health requirements on food products or safety requirements on electrical appliances. All 148 members of the WTO have established such enquiry points. The ambassador’s visit was organized by the EU Multilateral Trade Assistance Project, an initiative of the European Commission, in support of Lao People's Republic’s accession to the WTO.
Accessed on 11 October < http://www.vientianetimes.org.la/Current/Current_laos.htm >

MALAYSIA
Islamic common market a step closer. Aljazeera, 3 October 2005.
The first World Islamic Economic Forum has called for the establishment of an Islamic common market and floated a series of initiatives to boost business cooperation among Muslim nations. A declaration issued at the end of a meeting held in Kuala Lumpur listed the initiatives and urged the 57 governments of the Organization of the Islamic Conference (OIC) to facilitate trade and business environments.
Accessed on 6 October
< http://english.aljazeera.net/NR/exeres/95E93539-27BF-443E-A3C1-863A01F85C87.htm >

PAKISTAN
Pakistan and Malaysia ink early harvest agreement. Online News, 2 October 2005.
Pakistan and Malaysia have signed an early harvest programme (EHP) agreement for free trade on 2 October 2005. The EHP will be implemented from 1 January 2006. It covers products with most favored nation (MFN) tariffs of 10 per cent and below. Pakistan's EHP offer to Malaysia covers 5.49 per cent of import value, whilst Malaysia's offer to Pakistan covers 10.97 per cent of its total imports from Pakistan. Under this agreement, interim Rules of Origin will be applied to the products. A 40 per cent local content rule will be applied on the EHP products while product specific rules will be applied to textile and clothing, and jewelry.
Accessed on 3 October < http://www.onlinenews.com.pk/details.php?id=87702 >
Draft of 2 trade accords for SAARC finalized

SOUTH ASIA FREE TRADE AREA
Draft of two trade accords for SAARC finalized. China View, 24 October 2005.
Officials of the South Asia Free Trade Area (SAARC) have so far finalized two draft agreements concerning customs management and avoidance of double taxation, while negotiations are underway on two more agreements, expected to be signed at the 13th SAARC Summit in November 2005.
Accessed on 25 October < http://news.xinhuanet.com/english/2005-10/24/content_3676591.htm >

THAILAND
5th round of Thailand-United States of America trade talks ends. The Nation, 5 October 2005.
The United States of America and Thailand have finished a fifth round of talks aimed at reaching a free trade agreement. The negotiations made progress on issues including investment and financial services. The United States exported goods worth US$ 6.4 billion to Thailand in 2004 – a jump of more than 10 per cent over 2003. Thailand’s exports to the United States were worth US$ 17.6 billion last year.
Accessed on 6 October
< http://www.nationmultimedia.com/2005/10/05/business/index.php?news=business_18788727.html >

VIET NAM
Vietnamese, Iranian businesses seek trade opportunities. Viet Nam News Agency, 6 October 2005.
The Vietnamese Embassy in the Islamic Republic of Iran and concerned Iranian agencies hosted a trade and investment promotion seminar in Tehran on 4 October 2005 to help Vietnamese and Iranian businesses to seek trade and investment opportunities. The seminar provided a forum for the two countries' businessmen to get in contact directly in order to increase bilateral trade. Vietnamese and Iranian businessmen expressed their wish to continue having similar events in the future in order to fully explore the two countries' potential for trade cooperation.
Accessed on 11 October
<http://www.vnagency.com.vn/NewsA.asp?LANGUAGE_ID=2&CATEGORY_ID=30&NEWS_ID=169510>

AUSTRALIA
New customs IT cargo system fails to deliver. The Age, 21 October 2005.
The newly implemented cargo system has so far been unable to fulfill expectations. Freight cannot be cleared or put through quarantine and security because faulty data is being returned by the system. Containers are backing up at freight terminals and operators are facing huge penalties for storage and for failure to deliver goods on time. In some cases, freight forwarders attempting to use the new system are being sent data relating to other companies, involving issues of privacy and security. More than 200 staff are currently deployed to ensure that a 24-hour help desk service is available to customs brokers, freight forwarders and other key industry sectors needing help with the new system.
Accessed on 21 October
< http://www.theage.com.au/news/national/new-customs-it-cargo-system-fails-to-deliver/ >

GEORGIA
Customs code in midst of remake. Messenger, 28 October 2005.
Georgia is reporting progress in building the new Customs Code. The draft of the revised code offers favorable conditions for businesses, based on the standards of the EU and experiences elaborated by a group of experts from the EU, the American Chamber of Commerce, the Georgian Customs Department, the Georgian Ministry of Finance and more. New issues covered by the code include country of origin of goods and their price at customs. Furthermore, Georgia has taken on a number of liabilities from various international treaties that it has signed, and customs prices will be calculated according to World Trade Organization standards. The code will soon be submitted to the Parliament for approval.
Accessed on 31 October
< http://www.messenger.com.ge/issues/0978_october_28_2005/news_0978_3.htm >

Customs clearance at doorstep for Nashik exporters. The Business Standard, 12 October 2005.
Exporters from Nashik and surrounding areas will no longer be required to get Customs clearance from Mumbai. This facility will be made available to them at Nashik by the Nashik Custom House Agents Association (NCHAA). Currently, about 1,500 containers from Nashik are sent to Mumbai daily for Customs clearance, causing delays and additional costs. The newly established Nashik Custom House Agents Association will facilitate custom clearance in Nashik with the help of the Customs authority and Central Warehousing Corporation (CWC).
Accessed on 12 October
http://www.business-standard.com/

REPUBLIC OF KOREA
Republic of Korea exports customs system. The Korea Times, 12 October 2005.
The Korea Trade Network (KTNET) received an order to set up its customs system in Kazakhstan and signed a contract with the Kazakhstan Customs Control Committee. Under the contract, KTNET will play a key role in setting up the Korea Custom Service (KCS) customs clearance system and administration skills in Kazakhstan. This is the first time for the Republic of Korea to export its system abroad. Kazakhstan aims to modernize its customs system by 2007 and has decided to use the system developed by KTNET.
Accessed on 12 October < http://times.hankooki.com/lpage/biz/200510/kt2005101220073811910.htm >

Customs agency to enforce policies in support of inter-Korean trade. Korea.Net, 16 October 2005.
The Republic of Korea Customs Service will formulate and implement policies to accelerate trade between the two Koreas. Customs will conduct selective examination of goods being brought in from the Gaeseong Industrial Complex in the Democratic Republic of Korea, and replace the certificate of origin with voluntary submission of declaration to that effect to ease corporate burden and thereby expedite logistic flow in the industrial park. Products of the Gaeseong Industrial Complex will broadly be recognized as being originated from the Republic of Korea.
Accessed on 20 October
< http://www.kois.go.kr/News/News/NewsView.asp?serial_no=20051016012 >

UNITED STATES OF AMERICA
United States of America panel votes to curb imports of China steel pipe. Reuters, 3 October 2005.
The United States International Trade Commission (ITC) announced that imports of steel pipes from China have increased in such volumes as to cause or threaten to cause market disruption. Pipe imports from China increased by 102,861 tons, or 62.4 per cent, from 2000 to 2004. The import surge has forced cuts in United States production, employment, pricing and profits. ITC will send its recommendations on import curbs to the White House at the End of October, after which the President of the United States will have a number of months to decide what, if any, restriction to impose.
Accessed on 5 October
< http://today.reuters.com/business/newsarticle.aspx?type=tnBusinessNews&storyID=nN03312763 >

VIET NAM
Viet Nam southern hub starts online customs clearance. Than Hnien News, 4 October 2005.
The commercial hub Ho Chi Minh City has for the first time launched official customs clearance via the Internet with US$1.5 million worth of goods being cleared. The city’s Customs Department approved up to 30 online customs declarations of five local companies. While it takes seven or eight hours for normal clearance, it takes only 2 minutes to approve an online declaration.
Accessed on 5 October < http://www.thanhniennews.com/business/?catid=2&newsid=9631 >

THAILAND
Zero per cent tax applied to 63 Vietnamese products. Viet Nam Net, 4 October 2005.
Thailand officially announced continued duties preferences to 63 more Vietnamese products. Under the framework of the ASEAN Integration Systems of Preferences (AISP), products that can enjoy duties preferences are seafood and agricultural products, chemicals and paper, electric and specific equipments, and transmitters and receivers.
Accessed on 6 October < http://english.vietnamnet.vn/biz/2005/10/496505/ >

Customs helps ensure trade-rule compliance. Bangkok Post, 21 October 2005.
The Customs Department will increase its monitoring of trade shipments to ensure compliance with bilateral and multilateral agreements by traders. In a meeting between the Ministry of Finance and Customs it has been agreed that Thailand needs to continue to reform its customs procedures and adopt international harmonized standards within three years. More efficient customs procedures will be critical for reducing producers' expenses and supporting future trade expansion.
Accessed on 21 October < http://www.bangkokpost.com/Business/21Oct2005_biz44.php >

Commission launches action plan to combat counterfeiting and piracy. European Commission, 11 October 2005.
The European Commission has presented a package of measures to strengthen protection for the EU and its citizens against counterfeiting and piracy. The measures proposed for action in 2005 and 2006 will increase Community level protection through improved legislation and operational controls, strengthen the customs/business partnership, and reinforce international co-operation in this area. Seizures of counterfeited goods in 2004 increased by almost 1000 per cent compared to 1998.
Accessed on 12 October
<http://europa.eu.int/rapid/pressReleasesAction.do?reference=IP/05/1247>

India raises base import price of palm, soy oils. The Daily Times, 16 October 2005.
India, the world’s leading edible oil importer, raised the base import prices of palm and soy oils across the board. The base import price of crude palm oil has been raised from US$ 402 to US$ 426 a tonne, while that of crude soybean oil had been increased to US$ 518 a tonne from US$ 508. India fixes base prices to calculate customs duties to prevent the loss of revenue due to under-invoicing by some importers. Traders pay import duties on base values irrespective of the prices paid for the oil.
Accessed on 17 October
<http://www.dailytimes.com.pk/default.asp?page=2005%5C10%5C16%5Cstory_16-10-2005_pg5_32>

KAZAKHSTAN
Kazakhstan Government bans fuel export. Inform.Kz, 11 October 2005.
In order to guarantee the necessary reserves of petrol and diesel fuel for the needs of the country’s economy, Kazakhstan has passed a resolution on automobile petrol export ban and on prolongation of diesel fuel export from Kazakhstan until 31 December 2005.
Accessed on 12 October < http://www.inform.kz/showarticle.php?lang=eng&id=136830 >

RUSSIAN FEDERATION
Russian Federation to retain meat import quotas until 2009. Novosti, 19 October 2005.
The Russian Federation intends to keep its current quotas on meat imports until 2009. After 2009, it will depend on the outcome of negotiations within the World Trade Organization on reducing government support for agriculture, i.e. whether other countries will cut their subsidies to domestic agricultural producers. The value of annual EU meat imports to the Russian Federation is currently about 1.3 billion Euros. The EU imports are expected to account for 80 per cent of the total beef import quota of 457,500 metric tons and half of the 467,400-ton pork quota.
Accessed on 20 October < http://en.rian.ru/russia/20051019/41823994.html >

UNITED STATES OF AMERICA
United States of America bans beluga caviar to help sturgeon. The Age, 30 September 2005.
The United States announced a ban on beluga caviar imports. The Caspian population of the beluga sturgeon has halved in the past five years and the Black Sea's has dropped by a fifth.The United States last year placed the beluga sturgeon on its endangered species list. It gave the Caspian states — Azerbaijan, Kazakhstan, Islamic Republic of Iran, Russian Federation and Turkmenistan — six months to file a joint management plan, or face an import ban.
Accessed on 30 September
< http://www.theage.com.au/news/world/us-bans-beluga-caviar-to-help-sturgeon/2005/09/29/1127804608151.html >

United States of America to investigate 13 safeguard petitions. Inteletext, 6 October 2005.
The United States has accepted 13 textile safeguard petitions for review. Nine of the petitions are for reapplication of existing safeguards that would otherwise expire at the end of the year. The four new petitions accepted for review cover five categories of apparel and textiles - wool suits, man-made fibre (MMF) coats, cheesecloth, and polyester filament fabric. The reapplications cover - cotton knit shirts, woven shirts, cotton trousers, brassieres, underwear, MMF knit shirts, MMF trousers, combed cotton yarn, and synthetic filament fabric.
Accessed on 10 October < http://www.inteletex.com/NewsDetail.asp?PubId=&NewsId=4251 >

VIET NAM
Food security fears trigger export ban. Viet Nam News, 14 October 2005.
Viet Nam has asked rice exporters to refrain from signing new export contracts, and called for a strict monitoring of rice exports in order to ensure the nation’s food security. The decision follows the two tropical storms, Washi and Damrey, which devastated Viet Nam within a month, increasing the need for food security. Estimates suggest a loss of about 300,000-400,000 tonnes of paddy for farmers in the north during the summer-winter crop.
Accessed on 17 October < http://vietnamnews.vnagency.com.vn/showarticle.php?num=08ECO141005 >

CHINA
China builds 200-kph railway in Fujian. China Economic Net, 4 October 2005.
China has started building a 200 kilometer-per-hour railway from Fuzhou, the capital city of East China's Fujian Province, to Xiamen, a coastal city in the province. The line, with a length of 273 kilometers and a total investment of 14.42 billion yuan renminbi will be completed in 2009. Since the railway will be constructed in high land, about 40 per cent of the railway will be on bridges and in tunnels.
Accessed on 6 October < http://en.ce.cn/Industries/Transport/200510/04/t20051004_4861269.shtml >

FIJI
Fiji seeks India’s help to revamp sugar industry. Sify, 15 October 2005.
The Fijian sugar industry has started to initiate corrective measures to root out inefficiencies in productivity and technology adoption, asking India for help in initiating such measures. The three-year reform process, which has just begun, is based on lessons learnt from the Indian sugar industry. An 11-member Fijian team comprising ministers and officials paid India a visit to collect ideas of how to increase efficiency in the industry.
Accessed on 17 October < http://sify.com/finance/fullstory.php?id=13964032 >

MALAYSIA
Malaysia energy project extended to three sectors. Business Times, 10 October 2005.
To promote energy conservation and efficiency, the Malaysian Industrial Energy Efficiency Improvement Project (MIEEIP) has been extended to three new sectors, namely oleochemicals, plastics, and textiles. Launched in 2000, the government-backed MIEEIP currently focuses on eight sectors namely food, wood, pulp and paper, ceramic, cement, glass, iron and steel, and rubber. The results have so far been promising, 48 factories from those eight sectors have been audited and it was established that they could easily save 10 per cent of their energy consumption.
Accessed on 11 October
< http://www.btimes.com.my/Current_News/BT/Monday/Nation/20051009235708/Article/ >

MYANMAR
Myanmar to implement strategic rubber plantation project. People’s Daily Online, 4 October 2005.
Myanmar has urged national entrepreneurs to participate in a major and strategic rubber plantation project which targets to grow up to 600,000 hectares of the crop by 2030. The plan will be implemented in three phases: 20,250 hectares will be grown in 2005-2006; 60,750 hectares in 2006-2007 and 81,000 hectares in 2007-2008. Rubber, along with jute, cotton, edible crop, stands a main industrial crop in Myanmar.
Accessed on 11 October < http://english.people.com.cn/200510/04/eng20051004_212458.html >

Myanmar to expand oil-palm cultivation. Bernama, 16 October 2005.
Myanmar is aiming to expand its oil palm cultivation by another 500,000 acres within the next five years to meet growing domestic demand and reduce its reliance on imported palm oil. Myanmar plans to grow oil palm on a larger scale and hopes this will enable it to meet both local demand as well as to export the surplus, thus joining the other palm oil exporting countries in Southeast Asia. Malaysia and Indonesia are the biggest palm oil producers and exporters in the world while the crop is also planted in the Philippines and Thailand.
Accessed on 21 October < http://www.bernama.com/bernama/v3/news_lite.php?id=160819 >

PHILIPPINES
New power scheme cuts electricity bills. Manila Times, 10 October 2005.
Electricity distribution utilities and industrial customers directly sourcing their power requirements from the National Power Corporation under its time-of-use (TOU) scheme have incurred as much as P754 million in savings since November 2004. TOU encourages customers to take advantage of power during off-peak hours at lower tariffs. In a report it was demonstrated that about 124 electricity distributors, and 33 industrial users saved P754 in their electricity bills under the TOU scheme from November last year to August 2005. These firms’ savings may be passed on to households in terms of lower electricity cost.
Accessed on 11 October
< http://www.manilatimes.net/national/2005/oct/10/yehey/business/20051010bus2.html >

SINGAPORE
Singapore unveils strategies to double manufacturing output by 2018. Channel News Asia, 18 October 2005.
Singapore has unveiled details of its strategies to double its manufacturing output to US$ 300 billion by 2018. Singapore will invest more in research and development with a target of increasing its national research spending to 3 per cent of GDP within the next five years. The second part of the strategy involves building on Singapore's connectivity, by expanding its network of trade agreements so that manufacturers here have better access to many markets. Furthermore, it is planned to strengthen the enterprise ecosystem to provide manufacturers with good linkages within and across clusters to support their activities. The final part of the strategy involves expanding Singapore's reach for manufacturing investments, to include emerging economies such as China, India and the Middle East.
Accessed on 21 October
< http://www.channelnewsasia.com/stories/singaporebusinessnews/view/174065/1/.html >

SRI LANKA
Thailand, Indonesia pledge support for fisheries industry. Daily News, 3 October 2005.
Thailand and Indonesia have pledged to support the fresh water and brackish water fisheries industry in Sri Lanka. The main objective of the project is to develop the industry as a foreign exchange earner. Under the project, Thailand and Indonesia will provide technical and financial assistance for breeding centres which are under the National Aqua Culture Development Authority as well as for a new breeding centre in the Puttlam district. The breeding centre will use a cage culture system to increase the fish harvest. There are 400,000 hectares of fresh water and brackish water areas in the country. Nearly 500,000 people are involved in this industry and the new project targets to increase their income by 70 per cent.
Accessed on 6 October < http://www.dailynews.lk/2005/10/03/bus03.htm >

THAILAND
Thailand, Cambodia to sign broadcasting pact. Telecom Asia Daily, 18 October 2005.
Thailand and Cambodia are set to sign a memorandum of understanding (MOU) on information and broadcasting to help promote relations between the two countries. According to the MOU, Thailand and Cambodia will exchange radio and television programs, news, and information. They will cooperate in radio and television program production and exchange knowledge and experience in information and communication technology, study tours, visits, training, and research, the government said.
Accessed on 21 October < http://www.telecomasia.net/telecomasia/article/articleDetail.jsp?id=187611>

CHINA
IFC, ADB allowed to issue first yuan renminbi denominated bonds. China View, 9 October 2005.
China's central bank has allowed the International Finance Corporation (IFC) and the Asian Development Bank (ADB) to issue a initial batch of yuan renminbi denominated bonds of 1.13 billion yuan renminbi and 1 billion yuan renminbi, respectively. The move will help promote the internationalization of China's bonds market and reduces risks for domestic companies when getting loans, since yuan renminbi denominated bonds are less affected by the frequently changing foreign exchange rate in the global financial market.
Accessed on 11 October < http://news.xinhuanet.com/english/2005-10/09/content_3599179.htm >

Central bank governor urges banks to issue loans to small, medium-sized enterprises. China View, 20 October 2005. China's central bank governor urged commercial banks to extend loans to small and medium-sized enterprises and strengthen research on fund-raising for those enterprises. China's four big state-owned banks are currently attaching more importance to extending loans to large state-owned enterprises with good economic performance in a bid to reduce banks' non-performing assets and improve the quality of the enterprises' assets.
Accessed on 21 October < http://news.xinhuanet.com/english/2005-10/21/content_3658897.htm >

INDIA
Infrastructure special purpose vehicle, agreement for road projects cleared. The Hindu Business Line, 5 October 2005.
The Cabinet Committee on Infrastructure cleared an Rs 10,000 crore Special Purpose Vehicle (SPV) for funding infrastructure projects and the model concession agreement for highways. The SPV will have an initial paid-up capital of Rs 10 crore. The authorized capital, however, has been fixed at Rs 1,000 crore. The borrowing limit for the current fiscal period has been pegged at Rs 10,000 crore.
Accessed on 6 October < http://www.thehindubusinessline.com/blnus/14051506.htm >

MALAYSIA
Malaysia relaxes short-selling bond rules. Business Times, 7 October 2005.
In an effort to boost market liquidity, Malaysia has widened the number of institutions that can short-sell government bonds to all interbank players. Currently outstanding Malaysian Government Securities (MGS) are worth M$ 163 billion. Many large players, such as pension funds, are required to hold government bonds as part of their investment portfolios, which limits the amount of debt that can be traded on a regular basis. The new rules will allow all commercial banks, finance companies, merchant banks and discount houses that are interbank players as well as large brokers to short-sell government bonds.
Accessed on 11 October
< http://www.btimes.com.my/Current_News/BT/Friday/Nation/20051006204936/Article/ >

SRI LANKA
BOI concludes successful investment mission to Japan. Daily News, 6 October 2005.
The Board of Investment of Sri Lanka (BOI), in association with the Embassy of Sri Lanka in Tokyo, successfully conducted two investment seminars in Japan. Sri Lanka encouraged Japanese companies to take a deeper look at emerging investment opportunities in Sri Lanka, including the exploration for fossil fuels in the territorial waters of Sri Lanka, arguing that the country's free trade agreements with the EU, India and Pakistan have made the country a highly advantageous location for companies targeting these markets.
Accessed on 11 October < http://www.dailynews.lk/2005/10/06/bus06.htm >

THAILAND
Banks not prepared for Basel II standard. The Nation, 6 October 2005.
The Bank of Thailand has decided to conduct a survey of local banks to study their readiness to comply with Basel II. After finishing the survey, the central bank will encourage the banks to apply the standard on a trial basis for one year, before actually adopting it. Most Thai banks seem to be unprepared to adopt the Basel II banking standard by 2008. The standard, which is designed to improve the risk management of the banking industry by highlighting marketing, operational and credit risks, was not originally intended to apply to banks in the emerging market because of the level of sophistication of the rules and regulations.
Accessed on 6 October
< http://www.nationmultimedia.com/2005/10/06/business/index.php?news=business_18798950.html >

VIET NAM
IFC to set up credit information bureau. Viet Nam News, 7 October 2005.
The International Finance Corporation (IFC) plans to set up a credit information bureau in Viet Nam with assistance from a large credit-card company. The growth of Viet Nam’s economy depends largely on lenders’ abilities to sustain financing and manage risks efficiently and effectively. The credit card company will also offer support to local banks on credit risk management and practices.
Accessed on 11 October < http://vietnamnews.vnagency.com.vn/showarticle.php?num=01BAN071005 >

Viet Nam to tap global market with first bond issue. Than Hnien News, 6 October 2005.
Viet Nam has approved the country's first sovereign bond issue. The Ministry of Finance will issue US$ 500 worth dollar-denominated bonds, underlining that the issue will not only raise funds but also help create a benchmark for Vietnamese bonds abroad. The proceeds from the bond issue will be invested in a large shipyard belonging to a state-run shipbuilder that is receiving more orders from foreign shipping firms. Viet Nam considered the issue several years ago but the plan, closely watched by foreign investors, faced doubts while the country's sovereign ratings remained below investment grade. In July 2005 however, a global rating agency increased Viet Nam's foreign currency ceiling for bonds and notes.
Accessed on 11 October < http://www.thanhniennews.com/business/?catid=2&newsid=9696 >

Read the full report from Asia Times:
< http://www.atimes.com/atimes/China_Business/GJ04Cb04.html >
Accessed on 6 October

… EU, United States of America garment buyers swing to Bangladesh?
According to an exporters association from Bangladesh European and North American buyers are shifting to Bangladesh from China due to restriction on Chinese textile exports. Bangladesh benefits from duty-free access to the European Union, with more generous rules of origin in sight. Knitwear export registered a 169 per cent growth and over 18 per cent in the US market during the first six months in the quota-free regime compared to the corresponding period of the last year.

Read the whole report from China View:
< http://news.xinhuanet.com/english/2005-10/14/content_3616317.htm >
Accessed on 17 October 2005.

… working hours are declining in Asia?
While it is true that Asians work more hours than people in many countries of the world, more and more governments in the region now opt for shorter working weeks, giving their citizens more time for leisure activities and their families. For instance, Malaysia and Bangladesh have given their civil servants Saturdays off, while Singapore already introduced a five-day week for civil servants last year.

Read the whole report from VOA News:
< http://www.voanews.com/english/2005-10-09-voa21.cfm >
Accessed on 11 October 2005.

… Viet Nam encourages use of on-line transactions?
The Ministry of Trade has compiled an e-commerce development plan for 2006-2010 which calls for 70 per cent of large-scale enterprises to use online transactions, and for 90 per cent of small and medium-sized enterprises to at least be aware of the role of e-commerce and gradually apply it by 2010.

Read the whole report from Viet Nam News Agency:
< http://vietnamnews.vnagency.com.vn/showarticle.php?num=01TAS201005 >
Accessed on 21 October 2005.

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