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CHINA
China and Kyrgyzstan sign joint statement on enhancing cooperation and friendship. SINA, 14 August 2007.
China and Kyrgyzstan have signed a comprehensive joint statement on bilateral relations, anti-terrorism, military cooperation, trade promotion and other major international issues of common concern. With regard to trade, the two sides agreed to strengthen the role of the China-Kyrgyzstan Economic and Trade Mixed Committee, optimize the structure of trade, promote economic-technological cooperation and ameliorate the investment environment, and to increase cooperation on the basis of equality and mutual benefits in fields like transportation, telecommunication, agriculture, mining, energy and infrastructure construction. The two countries also agreed to step up cooperation and coordination in international and regional economic and financial organizations.
Accessed on 16 August < http://english.sina.com/1/2007/0814/121781.html >

INDONESIA
Indonesia and Japan sign a comprehensive free-trade pact. The Economist, 23 August 2007.
Indonesia and Japan have concluded a free trade agreement that will eventually eliminate import tariffs on more than 90 per cent of goods traded between the two countries. In the first phase of the new agreement, which will come into force early next year, Japan will slash 80 per cent of its tariffs, while Indonesia will remove 58 per cent. Within ten years, the two countries will make further reductions of 10 and 35 per cent, respectively. These tariff cuts are expected to increase Japanese exports of steel, cars, automotive components and electronic goods to Indonesia. Meanwhile, Japan has pledged to reduce tariffs on many Indonesian agricultural products and to remove them completely from most clothing, footwear and timber products.
Accessed on 24 August < http://www.economist.com/agenda/displaystory.cfm?story_id=9687558 >

JAPAN
Chile-Japan trade accord signed. Forbes, 14 August 2007.
The Chilean President has signed into law a free-trade treaty between Chile and Japan which will take effect on 3 September 2007. Chile is the first South American country to reach a free-trade accord with Japan, gaining preferential access to a market of 128 million. Chile earlier signed similar accords with China, India and the Republic of Korea and also has treaties with Canada, the European Union, Mexico and the United States. The new agreement gives duty-free access to Japan for about 70 per cent of goods exported by Chile. Japan will enjoy similar rights for around 90 per cent of its exports to Chile. Bilateral trade during the first half of 2007 totaled US$ 3.9 billion, with a US$ 2.7 billion surplus for Japan.
Accessed on 16 August < http://www.forbes.com/feeds/ap/2007/08/14/ap4018918.html >

NEPAL
Government empowers Nepal Chamber of Commerce to issue generalized systems of preference for export to European Union. The Himalayan Times, 16 August 2007.
The Government designated Nepal Chamber of Commerce (NCC) to issue certification of generalized systems of preference (GSP) for export to European countries. NCC, as a private sector authority, will now certify GSP form ‘A’ and issue no objection letters under the derogation facility provided by the European Union for export of various goods under its provision of ‘everything but no arms’ extended to the least developed countries, including Nepal.
Accessed on 17 August
< http://www.thehimalayantimes.com/fullstory.asp? >

PACIFIC ISLANDS
Islands push for trade review. Fiji Times, 11 August 2007.
The Pacific Islands Forum Secretariat issued a statement voicing the need for a review of the South Pacific Regional Trade and Economic Cooperation Agreement (SPARTECA), in order to give products of the forum island countries (FICs) better access into Australia and New Zealand. SPARTECA, which came into effect in 1980, is a non-reciprocal trade agreement under which the two developed nations of the Forum, Australia and New Zealand, offer duty-free or concessional access to products originating from the FICs.
Accessed on 16 August < http://www.fijitimes.com/story.aspx?id=68280 >

SHANGHAI COOPERATION ORGANIZATION (SCO)
SCO summit meeting issues joint communiqué. SINA, 16 August 2007.
The 7th meeting of the Council of Heads of State of the Shanghai Cooperation Organization (SCO) concluded with issuing a joint communiqué on multilateral relations and major international issues of common concern. During the summit, the presidents of China, Kazakhstan, Kyrgyzstan, the Russian Federation, Tajikistan, Uzbekistan agreed on further developing all-round cooperation within the SCO framework and exchanged views on the current regional and international issues, including anti-terrorism, regional stability, economic cooperation and international exchange.
Accessed on 20 August < http://english.sina.com/1/2007/0816/122055.html >

TONGA
Tonga becomes the 151st member of WTO. WTO, 27 July 2007.
The World Trade Organization (WTO), on 27 July 2007 welcomed the Kingdom of Tonga as its newest Member. Tonga applied for accession to the WTO in June 1995, but negotiations effectively started in April 2001. The terms of membership, which include the report of the working party for the accession of Tonga, the protocol of accession, and the schedules of Tonga’s commitments on market access for goods and services, were adopted by the WTO at the Hong Kong Ministerial Conference in December 2005. Tonga ratified its accession package on 27 June 2007 which was the final step in the accession process before Tonga could officially join the WTO. Under WTO rules, a country becomes a member 30 days after national ratification. Tonga is one of the world’s smallest economies with a population of approximately 116,000 and an area of 748 square km. Trade accounts for 54 per cent of GDP. Tonga’s main trading partners are Japan, the United States, New Zealand and Australia.
Accessed on 31 July < http://www.wto.org/english/news_e/pres07_e/pr488_e.htm >

Australia and Tonga sign Performance Partnership. Tonga Now, 16 August 2007.
Australia and Tonga have signed a Performance Partnership to assist the Government of Tonga in implementing its programme of essential economic and public sector reforms. The partnership is the first in a series of new performance incentives arrangements announced in the Australian 2007-2008 overseas aid budget. In 2007-2008, the Australian Government will provide up to A$1.57 million of additional aid to Tonga as it meets agreed milestones for economic policy and governance reform. In its first phase of operation, the partnership will focus on improvements in budget processes and tax administration, including implementing a new compliance regime to support recent tax reforms. The two Governments will jointly develop details for implementation each year.
Accessed on 16 August < http://www.tonga-now.to/Article.aspx?Mode=1&ID=3872 >

TURKEY
Turkey implements non-visa policy in Central Asia. Today’s Zaman, 20 August 2007.
Turkey has taken another step in improving relations with Central Asian countries by implementing a unilateral visa exemption policy for the citizens of Azerbaijan, Mongolia, Tajikistan, Turkmenistan and Uzbekistan. Citizens of these five countries will no longer require visas for trips to Turkey with a duration of 30 days or less. Last year, Turkey and Georgia mutually abolished the visa requirement for trips between the two countries with a duration of 90 days or less. Turkey already does not require a visa from citizens of Kazakhstan and Kyrgyzstan. Azerbaijan, Mongolia, Tajikistan, Turkmenistan and Uzbekistan still require a visa from Turkish citizens who want to visit those countries.
Accessed on 31 July < http://www.todayszaman.com/tz-web/detaylar.do?load=detay&link=118019 >

TURKMENISTAN
Turkmen-Iranian summit ends with signing of bilateral documents. Turkmenistan.ru, 16 August 2007.
The Presidents of Turkmenistan and the Islamic Republic of Iran held the second round of talks between the two countries at which they reconfirmed their countries’ readiness to stir up and strengthen an open and equal dialog between Turkmenistan and the Islamic Republic of Iran. The two sides signed memorandums on mutual cooperation in TV and radio broadcasting; on Government-to-Government cooperation in the sphere of trade; two agreements relating to water management; as well as a joint statement on development of bilateral cooperation.
Accessed on 20 August
< http://www.turkmenistan.ru/?page_id=3 >

UNITED STATES
United States requests WTO panel in case challenging deficiencies in China’s intellectual property rights laws. USTR, 13 August 2007.
The Office of the United States Trade Representative announced that the United States has requested the WTO to establish a dispute settlement panel, the next step in its WTO case challenging deficiencies in China’s legal regime for protecting and enforcing copyrights and trademarks on a wide range of products. In pursuing this action, the United States is seeking to eliminate significant structural deficiencies that give pirates and counterfeiters in China a safe harbor to avoid criminal liability. The United States is also seeking to improve enforcement procedures at China’s border, and to give copyright owners more tools to prevent the production of unauthorized copies in China. The United States requested WTO dispute settlement consultations with China over these issues in April and held consultations to that matter in early June. According to the United States, China has not taken any steps that address these concerns during this period. The panel request will be considered by the WTO Dispute Settlement Body at its next meeting, which is scheduled for 31 August.
Accessed on 16 August
< http://www.ustr.gov/Document_Library/Press_Releases/2007/ >

VIET NAM
Import tariff on certain products lowered. Nhan Dan, 8 August 2007.
Effective from 8 August 2007, the Ministry of Finance has implemented a decision on temporary preferential import tariffs on certain products in the context of the price hike in the world and domestic markets which has had negative impact on consumption, production, business and construction investment in the country. Accordingly, the import tax rates of food, animal breeding feed and construction materials will be reduced to 20 per cent. Import tax rates on sterilized, flavoured fresh milk will be reduced to 20 per cent from the current 40 per cent; frozen pork, down 10 per cent from 30 per cent; steel foil, down 3 per cent from 5 per cent, construction steel, down from 10 and 12 per cent to 8 and 10 per cent. Also, the import tax rate for such products as cosmetics, electric fans, air conditioners and sewing machines will be reduced from 40 per cent to 30 per cent. The tariff applied to passenger automobiles is also down 10 per cent, from 80 to 70 per cent.
Accessed on 16 August
< http://www.nhandan.com.vn/english/business/070807/business_i.htm >

ISLAMIC REPUBLIC OF IRAN
Islamic Republic of Iran ratifies customs and trade cooperation agreement with Turkey and Pakistan. Focus News Agency, 13 August 2007.
The Parliament of the Islamic Republic of Iran has ratified the commerce agreement between the Islamic Republic of Iran, Turkey and Pakistan, which was signed within the Organization for Economic Cooperation and Development (OECD). The agreement envisages a fall in the customs charges between the three countries.
Accessed on 16 August < http://www.focus-fen.net/index.php?id=n119263 >

JAPAN
Japan to scrap customs fees for import and export applications. Forbes, 29 July 2007.
Japan has decided to stop charging for import and export applications at customs offices nationwide starting in October 2008 as part of an effort to promote its ‘Asia Gateway’ initiative. About 30 million applications for import and export permission are handled by Customs annually, most of which are processed through an online system. The Ministry of Finance reckons the cost of customs processing would be reduced by 20 to 30 per cent by updating the online system. It will use the savings to cover the loss of fee revenue from the application process. The Government also plans to set up a panel comprised of members from both the public and private sectors to simplify import and export procedures. Officials from the three ministries involved -- finance, trade and transport -- as well as industry groups, including the Japan External Trade Organization (JETRO), have already begun discussions on the matter.
Accessed on 31 July < http://www.forbes.com/afxnewslimited/feeds/afx/2007/07/29/afx3963669.html >

MALAYSIA
New paperless vehicle entry system being tested at border checkpoints. The Star, 17 August 2007.
A paperless vehicle entry system is being tested at certain border check points in Malaysia. Starting from September, motorists applying for a vehicle entry permit will no longer need to fill in forms issued by the Customs Department as the function will become available electronic. Motorists will then have to fill in their data on the Customs Department website, and a sticker will be issued to them at the Customs checkpoint upon online verification.
Accessed on 20 August
< http://thestar.com.my/news/story.asp?file=/2007/8/17/nation/18606278&sec=nation >

PHILIPPINES
Customs and transport seal deal on smuggling. Manila Standard, 8 August 2007.
The Bureau of Customs and the Land Transportation Office (LTO) signed agreements on 7 August to stop the smuggling of luxury vehicles. One of the agreements seeks to prevent the registration of imported vehicles whose duties and taxes have not been paid. Another agreement provides for a one-stop shop to open at LTO to accommodate buyers in good faith who are willing to settle the deficiencies in duties and taxes on their vehicles; and one agreement requires LTO to provide Customs with records of newly registered imported vehicles.
Accessed on 16 August < http://www.manilastandardtoday.com/?page=politics5_aug8_2007 >

Department of Finance steps up drive against smuggling of oil products. Inquirer, 9 August 2007.
To cut revenue losses from oil smuggling, the Department of Finance (DoF) has ordered the use of chemical markers on imported petroleum products that are exempt from excise tax and duties. Department Order No. 23-2007 states that kerosene, which is exempted from excise taxes, and diesel imported by duty-exempt locators in special economic zones, should have the special markers. The use of chemical markers on oil imports will be pilot-tested at the certain ports and economic zones. Special machinery will be installed in these zones to verify the presence of the right concentration of chemical markers added to the petroleum products. Oil imported by economic-zone locators, which are allowed to import capital goods without duties as a reward for their contributions to the economy, are not allowed to be consumed outside the economic zone or free port zone. However, finance officials had said that some oil imports that were declared to be duty-free were being consumed outside the economic and free port zones.
Accessed on 16 August
< http://business.inquirer.net/money/breakingnews/view_article.php?article_id=81465 >

TURKEY
Customs burden to be lifted for 18 Islamic countries. Dünya Gazetesi Künyesi, 6 August 2007.
Turkey is preparing to gradually remove customs barriers with 18 Islamic countries by establishing the “Preferential Trade System between Members of the Organization of the Islamic Conference” project will be implemented after the framework agreement is signed. It is set to remove high customs and non-tariff barriers with agreements to be signed with the following countries: Bangladesh, Cameroon, Egypt, Guinea, Islamic Republic of Iran, Jordan, Lebanon, Libya, Malaysia, Maldives, Morocco, Pakistan, Qatar, Senegal, Syria, Tunisia, Uganda and the United Arab Emirates.
Accessed on 16 August < http://www.dunyagazetesi.com.tr/news_display.asp?upsale_id=322342 >

UNITED STATES OF AMERICA
Interim Rules of the United States-Singapore free trade agreement. Duane Morris, 2 August 2007.
The United States Customs and Border Protection has issued interim rules to implement the preferential tariff treatment and other customs-related provisions of the United States - Singapore free trade agreement. These interim rules relate to rules of origin, customs administration and operations under the FTA and, in particular, affect trade in textile and apparel goods, and trade in goods under the FTA’s integrated sourcing initiative. Accessed on 20 August < http://www.duanemorris.com/alerts/alert2580.html >

VIET NAM
Viet Nam pushes administration reform in customs services sector. VietNamNet Bridge, 3 August 2007.
The General Department of Customs is adopting more transparent procedures to boost import-exports. Effective from 1 July 2007, the law on tax management has enabled the customs sector to better perform its tasks, particularly in risk management and electronic customs clearance. The law is a reflection of the country’s policy reform, which is geared toward increasing transparency in tax management, and making clearer the rights and obligations of both tax payers and the taxation department and its staff. Under the law, a customs office or customs official is obliged to compensate the tax payer for any damage caused by the department.
Accessed on 16 August < http://english.vietnamnet.vn/biz/2007/08/725929/ >

AMERICAN SAMOA
American Samoa set to ban all Chinese imports. Pacific Islands Report, 16 August 2007.
The Governor of American Samoa is preparing an executive order that would impose an embargo on the importation of all goods from China and has directed the Department of Health to form a task force to monitor Chinese manufacture goods that enter the territory. The announcement came following international media reports of recalls for toys manufactured in China that contain lead paint, and small magnets ingestible by young children.
Accessed on 20 August
< http://pidp.eastwestcenter.org/pireport/2007/August/08-17-02.htm >

CHINA
Chinese ironing board producer takes EU to court over anti-dumping tariffs. People’s Daily online, 10 August 2007.
A Chinese company which exports ironing boards to European Union countries has filed a lawsuit against the EU over anti-dumping tariffs, arguing that the EU imposed the tariffs according to incorrect investigation results.
The lawsuit was filed to the EU court of first instance, and the court has accepted the lawsuit. In February 2006, the European Commission launched an anti-dumping investigation into the company. The commission denied market economy status of the company and imposed a 25 per cent anti-dumping tariff later in the year after finding the company’s finance system not conforming with international accounting standards.
Accessed on 16 August < http://english.people.com.cn/90001/90778/6236146.html >

United States toymaker recalls millions more toys. BBC, 14 August 2007.
A United States toymaker has recalled more than 18 million toys worldwide, the second such recall in two weeks. Chinese-made toys have been recalled because their paint contains lead. It has also recalled toys containing small magnets that can come loose. The company blamed the amount of lead in the paint on a subcontracted Chinese company using paint from unauthorized suppliers. The recall is the latest in a series of alerts about Chinese products in the United States, raising fears in China that the “Made in China” label is being seriously damaged. China has announced a series of measures to try to tackle the problems.
Accessed on 27 August < http://news.bbc.co.uk/2/hi/business/6946425.stm >

China bans imports of three kinds of Indonesian biscuits. SINA, 15 August 2007.
China’s top quality control agency has announced a ban on imports of three kinds of biscuits from Indonesia after they were found to contain excessive levels of aluminium. The General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) said 3.6 tonnes of biscuits produced by an Indonesian firm were found to have an aluminium level of 280 to 320 parts per million (ppm), far higher than the 100 ppm safety threshold set by the Chinese Government. Aluminum can be toxic in excessive amounts and has a wide range of potential side effects, including gastrointestinal problems, anemia and memory loss. AQSIQ said in a statement that it had informed the relevant Indonesian authority and urged it to take measures to ensure the safety of Indonesian food exports to China. The authority also called on local authorities to step up quality inspections of food imports from Indonesia and told domestic importers to clearly specify food safety requirements in contracts with Indonesian exporters.
Accessed on 16 August < http://english.sina.com/business/1/2007/0815/121816.html >

INDIA
EU imposes anti-dumping duty on aroma chemical from India. Economic Times, 30 July 2007.
The European Union imposed tariffs on a chemical from India used in perfumes and soaps to help Spanish producers compete against cheaper imports. The duties of as high as 7.5 per cent penalize Indian exporters of dihydromyrcenol for selling it in the EU below domestic prices or production costs. The anti-dumping duties will be in place for six months and may be prolonged for five years. Indian dihydromyrcenol exporters expanded their combined share of the EU market to about 17 per cent in the 12 months through September 2006 from less than 1 per cent in 2003.
Accessed on 31 July
< http://economictimes.indiatimes.com/EU_imposes_anti-dumping_duty_on_aroma_chemical >

Government imposes dumping duty on China yarn. Economic Times, 16 August 2007.
In a move expected to boost domestic polyester manufacturers, India has imposed anti-dumping duty on the partially-oriented yarn (POY) imports from China. India, which was faced with excessive imports of POY from China, has decided to impose an anti-dumping duty of US$ 545.22 per metric tonne. The director general of anti-dumping and allied duties (DGAD) which had conducted an investigation into the dumping charges by the domestic industry had recommended levy of anti-dumping duty. The authority concluded that the domestic industry had suffered “material injury” by dumping of POY from China.
Accessed on 16 August
< http://economictimes.indiatimes.com/Garments__Textiles >

ISLAMIC REPUBLIC OF IRAN
Producers notified of anti-dumping law. IranMania, 17 August 2007.
The Vice President has notified all relevant enterprises of a new anti-dumping law and measures to protect domestic producers. The cabinet earlier approved the plan proposed by the Ministry of Commerce and endorsed by the Economics Council. The plan is in line with the fourth Five-Year Development Plan (2005-2010). Iranian businesses have in recent years repeatedly called on the Government to curb excessive imports of substandard and inexpensive Chinese products, which they blame for the crises facing domestic production in many areas, most notably the garment industry.
Accessed on 20 August
http://www.iranmania.com/News/ArticleView/Default.asp?

PAKISTAN
Anti-dumping duty set on Pakistan linen. Economic Times, 27 July 2007.
Pakistan’s exports of cotton-type bed linen to the EU are now subject to a definitive anti-dumping duty. The duty which ranges from zero per cent to 8.5 per cent, with a weighted average of 5.8 per cent has been in force, on a provisional basis, since May 2006, having first been imposed in 2004. Pakistani bed linen exports, which came to 235 million euro in 2005, rose to 264 million euro in 2006.
Accessed on 31 July
< http://economictimes.indiatimes.com/News/International__Business/Anti-dumping_duty_set_on_Pak_linen/articleshow/2238282.cms >

Pakistan and India agree to boost trade by removing bottlenecks. Associated Press of Pakistan, 3 August 2007.
On the conclusion of the third Meeting of the India-Pakistan Joint Study Group (JSG) at Commerce Secretary-level, a joint statement was released stating that Pakistan and India have agreed to boost trade between their countries by removing bottlenecks and facilitating export of cement from Pakistan to India on fast track. The countries have also agreed to hold meetings of subgroups on customs cooperation and trade facilitation measures every six months in order to ensure speedy implementation of the recommendations of the Joint Study Group. The subgroup on sanitary and phytosanitary measures reached consensus on many issues including exchange of a list of 20 products of export interest to both sides by 31 August 2007 and preparing a compendium of procedures for their trade facilitation.
Accessed on 16 August
< http://www.app.com.pk/en/index.php?option=com_content&task=view&id=14095&Itemid=2 >

REPUBLIC OF KOREA
Republic of Korea halts clearance of United States beef. Chosun Ilbo, 3 August 2007.
The Ministry of Agriculture and Forestry on 1 August suspended quarantine inspections of all United States beef imports after again finding banned vertebral bones in a shipment. The spinal column is considered a particular risk material for BSE or mad cow disease. The fresh violation of an import agreement with the United States that permits only shipments of boneless beef persuaded the ministry to prevent any more American beef from reaching consumers for the time being. The agreement specifically bans risk materials such as brains and spinal cords as well as other bones. In the months since imports of American beef resumed, bone fragments have been found in several shipments, but this is the first time a specified risk material has shown up.
Accessed on 16 August
< http://english.chosun.com/w21data/html/news/200708/200708030009.html >

Republic of Korea resumes quarantine inspection of United States beef. Yonhap, 27 August 2007.
The Republic of Korea has announced it will resume its quarantine inspections of United States beef, nearly a month after it suspended them following the discovery of a cow backbone in a package. The Ministry of Agriculture and Forestry said that currently 6,832 tonnes of American beef were being held at import quarantine warehouses in Busan. All packages will be screened by X-ray machines to ferret out bones or bone chips. It may take about two weeks for the beef held in customs to reach the market. The ministry said if more backbone packages and other materials classified as specified risk materials were found, imports would be suspended again.
Accessed on 27 August
< http://english.yonhapnews.co.kr/business/2007/08/27/ >

UNITED STATES OF AMERICA
Senate panel OKs China currency bill. China Daily, 27 July 2007.
The United States Senate Finance Committee voted 20-1 to give the Government new tools to press China to raise the value of its currency. The bill’s most significant provision requires the Commerce Department to take “currency undervaluation” into account when calculating anti-dumping duties on foreign goods. That could lead to higher duties already in place on many Chinese products, and encourage United States companies to seek new duties on additional Chinese goods. The bill also would require the United States Government to take action through the International Monetary Fund and eventually the World Trade Organization against targeted countries that refuse to reform their currency policies. Another provision would let the Federal Reserve intervene in global markets against the misaligned currency if the country has not made appropriate reforms one year after being cited by the United States.
Accessed on 31 July < http://www.chinadaily.com.cn/china/2007-07/27/content_5444787.htm >

VIET NAM
Several seafood exporters free from testing. Tanh Nien News, 30 July 2007.
Vietnamese authorities have announced that 56 domestic seafood exporters to Japan would be exempt from Viet Nam’s food hygiene tests implemented earlier this month. The Viet Nam Association of Seafood Exporters and Processors said these enterprises had exported 10 consecutive shipments of seafood products to Japan that were said to be clear from banned antibiotics and met the country’s food hygiene norms. The list of qualified exporters will be updated once a month and sent to the customs agencies. Earlier in July, the fisheries ministry had said that all seafood products meant for export to Japan would be checked to ensure they are free of antibiotic residues and banned chemicals. The ministry said it would also inspect all seafood processing firms. Firms failing to meet safety norms would not be allowed to export and could even be shut down. The safety drive followed a recent complaint by Japan’s ambassador to Viet Nam that banned antibiotic residues were found in frozen shrimp and cuttlefish products from Viet Nam.
Accessed on 31 July < http://www.thanhniennews.com/business/?catid=2&newsid=30499 >

CHINA
Two of China’s biggest automakers announce partnership. SINA, 30 July 2007.
Two of China’s biggest domestic car companies have formed a partnership to develop new models amid Chinese efforts to compete with global automakers. The two companies have agreed to “comprehensive cooperation” on design, production and sales. China is the world’s second-largest and fastest-growing vehicle market but sales are dominated by foreign producers. The country has about 150 automakers, most of them small-scale. Passenger car sales to Chinese drivers rose 37 per cent last year to 3.8 million units. Total vehicle sales, including trucks and buses, rose 25.1 per cent to 7.2 million units.
Accessed on 31 July < http://english.sina.com/business/1/2007/0730/120187.html >

First industrial park in aviation sector inaugurated in southwest China. People’s Daily online, 20 August 2007.
China’s aviation industries have begun construction of a high-tech industrial park featuring space and aviation technology in Chengdu, capital of southwest China’s Sichuan province. The industrial park and the surrounding area will be a major research and development center and production base of military and civil aircrafts. Managed by a joint venture company with a registered capital of 230 million yuan renminbi, the park is expected to attract big state-owned enterprises and private companies in the aviation sector.
Accessed on 21 August < http://english.people.com.cn/90001/90778/6244052.html >

FRENCH POLYNESIA
French Polynesia to deregulate telecom. Pacific Islands Report, 30 July 2007.
French Polynesia’s Cabinet on 26 July initiated moves to deregulate the local telecom industry and therefore scrap the long-time monopoly granted to the OPT (Office des Postes et Télécommunications), especially for the supply of mobile phone and Internet service. Potential operators regard it as the first step in a process that would first see calls for expressions of interest. The Ministry of Telecommunication stressed that the deregulation had to be “gradual” and “kept under control” so as “not to destabilize OPT, which still has a public service mission”. The ministry expects that it will take around nine months before a new operator is allowed in the French Pacific country.
Accessed on 31 July < http://pidp.eastwestcenter.org/pireport/2007/July/07-30-02.htm >

INTERNATIONAL TELECOMMUNICATION UNION (ITU)
ITU and Singapore collaborate on training programme in ICT Policy and Regulatory frameworks. ITU, 30 July 2007.
Senior information and communication technology (ICT) policy makers and regulators from developing countries were in Singapore to attend a five-day executive programme on ICT development, entitled “Enabling Frameworks for ICT Development — The Singapore Experience”. The programme, offered by the Infocomm Development Authority of Singapore (IDA) in collaboration with ITU, provided an opportunity for participants from Asia Pacific, Africa and Arab States to study and analyze Singapore’s model as a means to catalyze ICT progress in their own countries. The participating countries included Bhutan, Brunei Darussalam, Kenya, Kiribati, Maldives, Mongolia, Nepal, Saudi Arabia, Thailand, United Arab Emirates and Viet Nam. This follows an agreement reached between ITU and IDA in June 2007 to provide a training programme for senior ICT and telecom officials that would foster the development of ICT frameworks in their countries to enable fair, effective and sustainable competition in a multi-operator, multi-network environment.
Accessed on 31 July < http://www.itu.int/newsroom/press_releases/2007/19.html >

JAPAN
Japan looks to South Africa for metals agreement. The Japan Times, 15 August 2007.
Japan is eyeing an agreement with South Africa to jointly produce rare metals and promote related technological cooperation as part of its so-called resource diplomacy. A delegation of representatives from the Ministry of Economy, Trade and Industry and major trading houses will visit South Africa in September to discuss the agreement. South Africa is a major supplier of rare metals, accounting for 80 per cent of the world’s platinum output and 40 per cent of chromium and vanadium. Japan is engaging in diplomatic efforts to secure stable supplies of natural resources against a backdrop of growing global demand and rising prices as a result of the economic expansion in Japan, Europe and the United States, and brisk growth in emerging economies. China, a supplier of rare metals to Japan, has recently curbed shipments, leading to concern among companies in Japan. Platinum is used in auto parts and fuel cells, while chromium and vanadium are essential for specialty steel products and alloys.
Accessed on 16 August < http://search.japantimes.co.jp/cgi-bin/nn20070815a1.html >

MYANMAR
Myanmar and Viet Nam sign pact on petroleum cooperation. Earth Times, 15 August 2007.
Myanmar and Viet Nam have signed a memorandum of understanding on strategic cooperation in the petroleum sector. The “strategic cooperation in oil and gas” agreement was signed between the Myanmar Energy Planning Department and the Viet Nam Oil and Gas Corporation.
Accessed on 16 August < http://www.earthtimes.org/articles/show/93757.html >

PHILIPPINES
President to declare 13 areas special economic zones. Inquirer, 24 August 2007.
The President of the Philippines has announced that she would sign an administrative order to declare 13 areas as special economic zones for their geothermal power. The order will also pave the way for cheaper power rates in these areas. The areas to be declared as special economic zones can avail of special incentives and will have open access of power generation to benefit their industries.
Accessed on 27 August
< http://business.inquirer.net/money/breakingnews/view_article.php?article_id=84455 >

RUSSIAN FEDERATION
Russian Federation to spend nearly US$ 250 billion on aircraft construction by 2025. Itar-Tass, 15 August 2007.
The Russian industry will spend nearly US$ 250 billion on aircraft construction by 2025, according to a Russian aviation corporation. The corporation intends to manufacture some 4,500 planes over that period, half of them civil aircraft. One of the most important tendencies of these plans will be the change of the ratio of military and civil aircraft; the present ratio of military aircraft and civil aeroplanes is seven to one.
Accessed on 16 August
< http://www.itar-tass.com/eng/level2.html?NewsID=11792751&PageNum=0 >

VIET NAM
Republic of Korean firm to build central Viet Nam industrial park. Thanh Nien News, 20 August 2007.
A commercial group of the Republic of Korea has been licensed to develop and operate technical infrastructure at the Phong Thu Industrial Park in central Thua Thien-Hue province. Under the license, the company will begin raising the 100-hectare industrial park in January 2008. The construction is due for completion by late 2010. The 50-year project has a total investment of US$ 6.5 million.
Accessed on 21 August < http://www.thanhniennews.com/business/?catid=2&newsid=31169 >

FIJI
Fiji Islands Trade and Investment Bureau sets up “one stop” shop. Fiji Times, 20 August 2007.
The Fiji Islands Trade and Investment Bureau (FITIB) is planning to set up a one stop shop for intending investors once the new formatted board takes shape to include six representatives from the Government. The idea is to do away with the delay faced by intending investors who paid high fees to set up businesses in Fiji. The new make up of the FITIB board will include the director of immigration, the permanent secretary for finance, the director of town and country planning, a representative from the Reserve Bank of Fiji and one from the Fiji Islands Revenue and Customs Authority. Four members from the private sector are expected to team up with the Government representatives to make up the new board which will make first and final decisions on investment approvals.
Accessed on 20 August < http://www.fijitimes.com/story.aspx?id=68876 >

INDIA
Insurance Regulatory and Development Authority sets November date for total pricing freedom. Economic Times, 8 August 2007.
Insurers wanting complete freedom in pricing insurance policies may have to wait till November. The Insurance Regulatory and Development Authority (IRDA) has decided to give the industry more time, as boards of companies will now have to decide on the extent of leeway that they have in pricing of products. In the free-pricing regime, boards of non-life insurance companies will have far more responsibility in deciding the extent to which an insurer can overstretch pricing. IRDA has asked insurance companies to ensure that the board fixes a ceiling on an insurance company’s ability to retain risks for large projects which require specific reinsurance cover. The regulator has also said that once the ceiling has been decided by their boards, insurance companies should not play around with retention levels. In the past, public sector insurers had used their balance sheet strengths to offer terms to customers better than what was being offered by the reinsurer.
Accessed on 16 August
< http://economictimes.indiatimes.com/News/News_By_Industry/ >

JAPAN
New rules to curb stock price fluctuation. Asia News Net, 20 August 2007.
The Shanghai Stock Exchange (SSE) on 19 August announced new rules for stock trading to prevent and curb irregularities. The new rules, targeted mainly at “abnormal price fluctuations”, are expected to curb insider trading, excessive speculation and price rigging, an SSE statement said. They will become effective from 1 September. The SSE will target stocks with limitless price fluctuation and will have the right to suspend them from trading for up to 30 minutes on a day they surge above 100 per cent or drop below 50 per cent of their opening prices. The rule will be used to prevent excessive speculation on newly issued and debuting stocks. The second new rule is targeted at curbing insider trading. The SSE will have the right to suspend the trading of stocks that surge or drop dramatically for two consecutive days and if more than 30 per cent of their total daily turnover comes from one branch office of a securities company. The third rule will be used to curb investors’ excessive speculation on penny worth stocks. Special treatment stocks, which are allowed a 5 per cent daily fluctuation, can be suspended from trading if they touch the daily limit at close for three consecutive days.
Accessed on 20 August < http://www.asianewsnet.net/biz.php?aid=11744 >

MALAYSIA
Malaysia eases rules on Islamic finance. Channel News Asia, 15 August 2007.
The central bank of Malaysia said that it will ease its rules to allow all banks to do Islamic banking business in foreign currencies. Non-Islamic commercial banks and investment banks licensed by the Government will now be allowed to do Islamic banking business as the country aims to position itself as a global hub for the sector. Malaysia has the world’s largest Islamic bond market, accounting for about US$ 47 billion or two-thirds of total Islamic bonds outstanding worldwide.
Accessed on 30 August
< http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/293869/1/.html >

Better investor protection. Biznewsdb.com, 23 August 2007.
A new law will give the Securities Commission (SC) more clout to take civil action against perpetrators of a wider range of market misconduct when it comes into effect in September. The Capital Markets and Services Act 2007 (CMSA) provides civil remedies - on top of the prescribed criminal penalties – for offences such as false trading and market-rigging transactions, stock market manipulations, false or misleading statements, fraudulently inducing persons to deal in securities, use of manipulative and deceptive devices and dissemination of information about illegal transactions. The SC may obtain up to three times compensation of the pecuniary gain made or loss avoided, and claim civil penalty not exceeding M$1 million which will be used to compensate persons who have suffered losses or damages as a result of the contravention. Other changes the CMSA will bring include the establishment of a single licence regime that allows for dealing in securities and trading in futures contracts, and a single guideline governing different intermediaries as opposed to seven currently.
Accessed on 27 August
< http://www.biznewsdb.com/english/newspage/newspage.asp? >

MARSHALL ISLANDS
OECD removes the Marshall Islands from its list of uncooperative tax havens. OECD, 7 August 2007.
The OECD has announced that the Marshall Islands has made a commitment to implement a programme to improve transparency and to establish effective exchange of information in tax matters. As a result of this commitment, the Marshall Islands will be removed from the OECD’s list of uncooperative tax havens – on which now only three countries remain: Andorra, Liechtenstein and Monaco. The Marshall Islands joins 34 other jurisdictions that have made similar commitments aimed at ensuring an environment in which all significant financial centres meet high standards of transparency and exchange of information for tax purposes.
Accessed on 16 August
< http://www.oecd.org/document/13/0,3343,en_2649_201185_39095565_1_1_1_1,00.html >

RUSSIAN FEDERATION
Russian Federation ready to invest US$ 2 billion in Kyrgyz economy. Itar-Tass, 15 August 2007.
The President of the Russian Federation said that the Russian Federation was ready to invest up to US$ 2 billion in various economic projects in Kyrgyzstan. He said that the Russian Federation was looking for good projects and that the country was ready to take all necessary measures in order to ensure the financing of these projects. He suggested that concrete agreements to this effect should be worked out by experts at the governmental level.
Accessed on 16 August
< http://www.itar-tass.com/eng/level2.html?NewsID=11794155&PageNum=0 >