SAARC to be zero duty region
Daily News, June 30, 2008

The SAARC Chamber of Commerce and Industry, is planning to promote Foreign Direct Investments (FDI) within the SAARC region as well as globally to boost trade activities in the region, its President, Tariq Sayeed said. Speaking to the ‘Daily News Business’ he said that trade in Asian region starting from Japan up to Pakistan including China, have jumped to US $ one Trillion from US $550 million since 1951. However in the SAARC region its FDI is not developed to such a level. As a move towards establishing zero duty in the region including Afghanistan they have signed a South Asian Free Trade Agreement by 2016 in the region.<<More>>

APTA to enhance trade flows among member countries
Sunday Observer, June 29, 2008

The Asia-Pacific Trade Agreement (APTA) has opened a huge market with a 2.5 billion population and will increase intra-regional trade flows among the member countries, said Dr. Dayarathna Silva of the Department of Commerce. He was addressing a seminar organised by the National Chamber of Commerce on APTA in Colombo last week. Asia is the fast growing region in the world today. Since China and India, the two fast growing economies are in the APTA this agreement has opened a vast opportunity, he said.<<More>>

A Plan B for Deepening Economic Ties in the Americas
Washington Post, June 27, 2008

It has been a frustrating start of the century for those promoting economic integration of the Americas. The hemisphere seems more ideologically divided than at any time since the Cold War, putting off any hopes of reviving the idea of a Free Trade Area of the Americas, snuffed out two and half years ago in Argentina when regional leaders spent more time emphasizing their differences than anything they had in common.<<More>>

India & Malaysia to Begin Second Round CECA Talks Next Week
Bernama.com, June 26, 2008

India and Malaysia will begin the second round talks on the Comprehensive Economic Cooperation Agreement (CECA) next Monday, aimed at slashing tariffs and creating better market access, which may quadruple bilateral trade between both traditional trading partners. At the first round of talks in Kuala Lumpur last February, top negotiators from both sides created a viable framework for a broad-range economic pact and they are expected to deepen the core sectors during the two-day negotiations in Delhi. "Basically the discussion will be on trade, services and investments and preparing the roadmap for further discussions. It will be a substantial discussion in critical areas and this is quite an important meeting," a senior Indian negotiator told Bernama.<<More>>

India, Pak trade secys to meet to firm up trade
Financial Express, June 26, 2008

India and Pakistan would attempt to increase the basket of commodities for bilateral trade when the commerce secretaries of both sides meet in August 2008. "We have already liberalized 30% of our tariff line for facilitating imports from India. We have imported items like onions, potatoes, tomato, sugar from India and exported cement to meet the needs of the Indian construction industry," said the visiting commerce secretary of Pakistan, Syed Asif Shah.<<More>>

Action to ‘nourish’ economic and social progress in SAARC
The Island, June 24, 2008

Beyond the region, SAARC now needs to consider mutually beneficial project-based, economic, financial and technical cooperation, particularly with the SAARC Observers: China, European Union, Iran, Japan, Republic of Korea and United States. The New Delhi Declaration acknowledges that "the region would benefit from these external linkages and help its economic integration with the international community".<<More>>

US $ 5 billion bilateral trade between Sri Lanka and India is expected by 2010
Asian Tribune, June 24, 2008

A communiqué issued by the Federation of Chambers of Commerce and Industry of Sri Lanka indicated that its Secretary General/CEO Samantha B Abeywickrama has said that still there is immense potential left to further expand bilateral trade between India and Sri Lanka and since the signing of the Indo-Sri Lanka Free Trade Agreement in March 2000 trade has grown rapidly between the two countries, at the occasion of signing the Memorandum of Understanding between the Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) and FCCISL. <<More>>

China searches for a new asean paradigm
Nation Multimedia, June 23, 2008

Gone are the days when China and Asean spoke with one voice. Since 1995, they have worked in tandem on almost every issue, much to the chagrin, or perhaps wonder, of non-Asean members. Now, with new strategic environments emerging, both sides are groping for a new paradigm that they hope will sustain their relations and mutual interests. It is a tall order as they increasingly are realising that cooperation these days is becoming increasingly difficult. <<More>>

World Bank supports transport improvements in West Africa
Joy Online, June 23, 2008

The World Bank Board of Executive Directors today approved a US$190 million regional operation to finance transport and transit improvements in Burkina Faso, Ghana and Mali. The three-country project supports the NEPAD (New Partnership for Africa’s Development) transport agenda of trade corridors without borders and barriers, which aims to facilitate trade and promote economic integration in the sub-region. The project also supports the objectives of the first phase (Road Program I) of the Programme d’Actions Communautaire des Infrastructures et du Transport (PACITR) (Community Action Plan for Road Infrastructure and Transport) West Africa Economic and Monetary Union (WAEMU).<<More>>

Asia's infatuation with two-way trade saps WTO
Reuters India, June 23, 2008

Why is China, population 1.3 billion, discussing a free trade deal with Iceland, population 300,000? Why has the government of Laos, one of Asia's poorest countries, seen the need to spend time and treasure setting up a Department of Bilateral Trade Negotiations? "These PTAs are a real diversion in terms of time, resources and, above all, political capital. Governments have been paying lip service to the WTO while doing these deals more for political than commercial reasons," said Razeen Sally, co-director of ECIPE, a Brussels think-tank. "For East Asia in particular, which depends so much on multilateral rules because they are so plugged into the global economy, that is very short-sighted indeed," he said. <<More>>

Are Regional Trade Agreements in Asia Stumbling or Building Blocks ...
Imf.org, June 2008

Is the recent proliferation of Regional Trade Agreements (RTAs) in Asia a healthy development, or runs the risk of turning into an unmanageable “noodle bowl” in the future? The goal of this paper is to shed some light on this question. The results show that membership in the Asian RTAs considered in this study have not, to date, occurred at the expense of trade with nonmembers, as most Asian countries’ integration with the global economy preceded regional integration. However, looking forward, given their discriminatory nature, a proliferation of RTAs, which is not accompanied by continuing unilateral and multilateral liberalization, could run the risk of leading to costly trade diversion.<<More>>

China vice premier pledges US economic openness
Business Week, June 19, 2008

China's vice premier said his country would continue to open its economy and urged the United States to avoid protectionism and share technology on energy and climate change. Wang Qishan said that a trend of protectionism had emerged in the United States, a country based on free trade. The United States should not close its doors or practice protectionism, but continue to be an open economy.<<More>>

Trade and investment opportunities in the SAARC Region
Daily Mirror, June 18, 2008

The Sri Lanka Economic Summit 2008, taking place from the 1st to the 3rd of July at the Oak Room of Cinnamon Grand, Colombo and will feature a host of topical discussions. Among these would be the session on Trade and Investment Opportunities in the SAARC region, chaired by Prema Cooray, CEO/Secretary General of the Ceylon Chamber, with Professor G.L. Peiris as the keynote speaker. The session’s panel discussion would see the participation of Mr. Chandrajit Banerjee, Director General, Confederation of Indian Industry, Dr Ayubar Rahman Bhuyan, Economic Advisor, Metropolitan Chamber of Commerce and Industry, Mr. Tariq Sayeed, President SAARC Chamber of Commerce, Mr. Chandi Dhakal, Immediate Past President, Federation of Nepalese Chambers of Commerce & Industry, HE Alok Prasad, High Commissioner for India and HE Air Vice - Marshal (Rtd). Shaszad Aslam Chaudhry, High Commissioner for Pakistan.<<More>>

SAARC suffers from malnutrition
The Island, June 17, 2008

The acronym NATO in our parlance today stands for No Action Talk Only and this applies with more than a small measure of justification to SAARC; for example ten years ago a Group of Eminent Persons submitted a report to a SAARC summit proposing a way ahead, this report remains in the ice box; this is despite the efforts of persons such as Dr. Saman Kelegama who has made many efforts and has now made yet another valuable effort to make SAARC a reality.<<More>>

Southern Africa: SADC to Scrap Duty On Exports to Member States
Allafrica.com, June 16, 2008

Southern African Development Community (Sadc) countries have agreed to allow over 80 percent of goods to be exported to member states duty free by August 1 this year marking a milestone in the region's desire to attain the Free Trade Arrangement (FTA) status. This agreement was reached at the just ended Trade Law Centre of Southern Africa (Tralac) annual conference held in Cape Town, South Africa. The scrapping of duty and tariffs is in line with Sadc's initiative to become a free trade area by the end of 2008. <<More>>

CARICOM’s trade relations with the EU undermining its relations with US Part II
Stabroek News, June 16, 2008

Last week it was argued that CARICOM appears to be sacrificing any possibility of continuing benefits under the U.S. Caribbean Basin Initiative (CBI) by rushing into full Economic Partnership Agreements (EPAs) with the EU, and that, given the complexities that have arisen since the conclusion of the negotiations, a delay in finalizing the EPAs would be prudent.  If the agreements are implemented before these issues have been resolved, CARICOM may find itself losing preferential access into the U.S., the major market of the Caribbean, in order to come to an agreement with the EU, a secondary trading partner. This week we conclude the update by noting that compared to the Caribbean region, Africa has carved out a potentially stronger bargaining position vis-à-vis the EPA negotiations. <<More>>

SADC to Scrap Duty On Exports to Member States
Allafrica.com, June 16, 2008

Sounthern African Development Community (SADC) countries have agreed to allow over 80 percent of goods to be exported to member states duty free by 1st August this year marking a milestone in the region's desire to attain the Free Trade Arrangement (FTA) status. The scrapping of duty and tariffs is in line with Sadc's initiative to become a free trade area by the end of 2008. <<More>>

Government Urged to Implement Trade Treaties
Allafrica.com, June 16, 2008

The Ghana Trade and Livelihoods Coalition (GTLC) has called on governments in the West African sub-region to speed up the implementation of the ECOWAS Trade Liberalization Scheme (ETLS) and the ECOWAS Common Agriculture Policy (ECOWAP). <<More>>

Regulatory support needed to boost solar power competitiveness
Jakarta Post, June 16, 2008

Indonesia, Southeast Asia's largest economy, and Australia pledged Friday to help accelerate a negotiation to secure a free-trade agreement (FTA) between the Association of Southeast Asian Nation (ASEAN), Australia and New Zealand (AANZ-FTA). Visiting Australian Prime Minister Kevin Rudd said the agreement was needed in order to forge and maintain mutual business relationships, and to pave the way for more investment in both countries. "It is not always easy doing business across international boundaries, so our job in the government is to make it as easy as possible to do business by bringing down barriers to trade," Rudd said in his speech before business people grouped in the Indonesia Australia Business Council. <<More>>

Bigger role for business in SAARC
Sunday Times, June 16, 2008

SAARC (South Asian Association for Regional Cooperation) has been urged to allow a bigger role for the private sector. “Business investment decisions will be made by businesses and entrepreneurs, not by government or by bureaucrats,” said the Minister of Enterprise Development and Investment Promotion, Sarath Amunugama. He was addressing a gathering of academics and civil groups at a pre-SAARC conference in Colombo recently, organised by the Institute of Policy Studies of Sri Lanka(IPS) and the South Asian Centre of Policy Studies (SACEPS) of Nepal. The pre-SAARC conference was organised to provide policy feedback for the 15th SAARC Summit that will be held in Colombo from July 28 to August 3. <<More>>

South Korea, Europe Seek FTA Conclusion in 2008
Korea Times, June 15, 2008

Europe wants to conclude a free trade agreement (FTA) with South Korea by the year's end to further boost bilateral economic ties, according to European Commissioner Joaquin Almunia. He said the Korea-EU FTA would create a win-win situation for both Europe and South Korea. ``The EU is currently engaged in negotiations for the free trade agreement with Korea and since the launch of these negotiations in spring 2007, progress has been made. There is now agreement on a broad range of issues and we consider that it would be desirable to conclude such negotiations before the end of the year,'' Almunia said. <<More>>

[ASEM] ASEM Moving Toward Solid Partnership
Korea Times, June 13, 2008

The Asia Europe Meeting (ASEM) was launched in 1996 with an aim to foster inter-regional cooperation between Asia and Europe. ASEM has steadily extended its membership from 25 countries at the onset to currently 43. It has also broadened its sphere of influence while accounting for 40 percent of the world population, 50 percent of global GDP, and 60 percent of total amount of world trade. Now, we can safely say that ASEM is the most significant international forum bridging two distinct cradles of human civilization.<<More>>

Proposed Regional Grouping a Non-Starter
Iwpr, June 12, 2008

Uzbek president Islam Karimov’s proposal to merge two associations of former Soviet states has come as a surprise to many observers, as his country has shown a distinct reluctance to be part of regional groupings. NBCentralAsia analysts say the initiative looks suspiciously like a way of promoting Uzbekistan’s own role in the region, and is unlikely to be taken up by other states. Karimov came out with the idea during a June 5 meeting with Russian president Dmitry Medvedev, in the course of an informal summit of leaders of the Commonwealth of Independent States, CIS. He proposed unifying two groupings that come under the CIS umbrella, the Collective Security Treaty Organisation, CSTO, and the Eurasian Economic Community, EurAsEC, which as their names suggest deal with security-sector and economic coordination among their members. <<More>>

South Africa: Customs Union 'Premature'
AllAfrica.com, June 12, 2008

SA did not agree with some Southern African Development Community (SADC) members that work should begin immediately to achieve a regional customs union by 2010, trade and industry deputy director-general Xavier Carim said yesterday. Updating Parliament's trade and industry committee on the progress made in various global and regional trade negotiations, Carim said SA as well as other SADC members believed that working towards a customs union would be premature. <<More>>

It's early days for FTA: Swan
The Australian News, June 12, 2008

Australia’s economic engagement with China was "not only about commodities, important as they are", Wayne Swan told senior cadres training at the Communist Party of China's Central Party School in west Beijing yesterday. The federal Treasurer said Australia's mining output -"important as it is" -- accounts for just 7 per cent of gross domestic product, about the same share as 20 years ago, while farm output comprises about 3 per cent. "We also make fare machines for Beijing's subways, we make synthetic turf for your sports fields, we make solar heating for your remote areas," Mr Swan said. <<More>>

Colombia still sees chance US will OK trade deal
Reuters, June 10, 2008

Colombia still sees a chance the U.S. Congress will approve a bilateral free trade agreement caught up in an election-year fight between President George W. Bush and House of Representatives Speaker Nancy Pelosi, Colombian officials said on Tuesday. "When I go back and report to Colombia, I'll probably tell them the mood seemed optimistic," even though no firms dates were offered for a vote or even a congressional hearing on the trade pact, Colombia Trade Minister Luis Guillermo Plata said <<More>>

US asked to join trade group to maintain influence in Asia
Economic Times, June 10, 2008

New Zealand called on the United States Monday to seek early membership in a budding Asia-Pacific grouping so that it could maintain influence in the rapidly growing region. The grouping, called the Trans-Pacific Strategic Economic Partnership Agreement, or "P4," is a model free trade agreement involving Singapore, Chile New Zealand and Brunei. "Joining the P4 is an important way for the US to be fully engaged in the architecture of the Asia-Pacific region particularly given groupings such as ASEAN plus three and the East Asia Summit in which the US is not a participant," New Zealand's trade minister Phil Goff said Monday. <<More>>

Canada announces successful negotiations of free trade deal with Colombia
The Canadian Press, June 08, 2008

Canada has completed negotiations with Colombia that will establish a free trade agreement between the two countries, the federal government announced Saturday. Negotiations also resulted in agreements on environmental and labour deals between the two countries. Foreign Affairs and International Trade Minister David Emerson said the deal with Colombia, in conjunction with similar agreements reached with Peru, fulfills Canada's promise to strengthen its economic and social involvement in Latin America. <<More>>

President SAARC Chamber proposes FTA between China and SAARC countries
APP News, June 08, 2008

A Free Trade Agreement (FTA) between China and South Asia has been proposed to unleash hitherto untapped potential due to non- preferential trade between China and SAARC nations.  The proposal of FTA was submitted by President SAARC Chamber of Commerce Tariq Sayeed while addressing at the inaugural session of the 3rd China-South Asia Business Forum in Kunming, in China’s Yunnan province. “Inclusion of China in South Asian bloc would further excel the role of SAARC in the global economy and help growth of the region as a whole, provided the member states show commitment to join hands with the World 2nd biggest economy and the 3rd largest import destination of the World”, he noted.<<More>>

China keen to boost ties with South Asian states
The Daily Star, June 07, 2008

China is keen to develop economic and regional cooperation with the Saarc member countries on the basis of five principles of peaceful coexistence and continue support for economic and social development of South Asian countries. "China and South Asia are linked by mountains and rivers with a time-honoured history of friendly exchanges. We are eager to build an amicable, tranquil and prosperous neighbourhood and want to see a peaceful, stable and prosperous South Asia," said Chinese Assistant Minister of Foreign Affairs He Yafei. Talking to a reporters' delegation from Saarc countries recently, he said China is also ready to continuously deepen friendly cooperative relations of long-term stability and orientation towards the future with all South Asian countries based on the spirit of equality, mutual trust and win-win cooperation. <<More>>

E Asia strives to raise economic profile
ISN News, June 06, 2008

A rivalry among East Asian states is intensifying over access to Central Asian energy. China to this point has been the clear leader among East Asian states in Central Asia. But Japan, South Korea and Malaysia are stepping up efforts to attract the attention of Central Asian energy suppliers. Tsutomu Saito, editor in chief of the Japanese newspaper Sankei Shimbun, recently told a Central Asian audience that those countries "should stop cooperating with China within the [context of the] Shanghai Cooperation Organization" and embark upon a broader program of trade with Asian states including Japan. [For background see the Eurasia Insight archive]. Saito's remarks underscored the fact that Japan is actively trying to raise its Central Asian profile. <<More>>

Mekong River countries pledge more fruitful economic cooperation
Xinhuanet, June 06, 2008

Six countries along Asia's Mekong River pledged for more fruitful efforts on Friday to realize a win-win regional economic development. The six countries -- China, Vietnam, Laos, Cambodia, Myanmar and Thailand -- officially set up the Greater Mekong Subregion (GMS) Economic Corridors Forum in Kunming, capital of southwest China's Yunnan Province. Thanks to the efforts of these countries over the past decade, as well as the support from the Asian Development Bank (ADB), conspicuous achievements had been made in the transport corridor construction within the GMS economic cooperation mechanism, said Chen Deming, China's commerce minister.<<More>>

SADC’s free trade moves hindered by customs union split
Engineering News, June 06,2008 

South Africa’s current trade framework, which is regulated by the Southern African Customs Union (Sacu) and the Southern African Develop-ment Community (SADC), is moving towards free trade, South African Institute of International Affairs Development through Tradeprogramme head Peter Draper tells Engineering News. The move towards free trade, a market model in which the trade of goods and services between, or within, countries is unhindered by government- imposed restrictions, comes after the member countries of Sacu and the SADC negotiated economic partnership agreements (EPAs) with the European Union (EU). “The member countries of Sacu and the SADC are still in the process of negotiating EPAs with the