Oct. 29 – The meetings last week between Indian Prime Minister Dr. Manmohan Singh and Chinese Premier Li Keqiang was a mixture of détente over border issues, some cultural cross-referencing, and the laying down of a platform for increased trade opportunities. In what turned out to become a remarkably cordial and informal series of meetings, the quotes came fast and thick from both sides:
“If the host is hospitable and generous, there will be more frequent visits from guests,” as mentioned by Premier Li. Not to be outdone, Chinese President Xi Jinping also told Singh the famous saying “We need to stand tall and look far, a journey of 1,000 miles begins with a single step.” Continue reading
Oct. 26 – Indian Prime Minister Manmohan Singh and Russian President Vladimir Putin met in Moscow this week for the 14th India-Russia Annual Summit, which focused on deepening India’s strategic partnership with Russia to enhance trade, investment and global stability.
“Despite the fragile global economic environment, our bilateral trade grew by nearly 25% last year to reach 11 billion U.S. dollars. We resolved to promote investments and facilitate closer cooperation in a number of areas with great potential, such as oil and gas, energy, information technology, telecommunications, pharmaceuticals, chemicals, fertilizers, and mining,” stated PM Singh.
In 2000, Russia became the first country with which India signed a Declaration of Strategic Partnership, which has been further strengthened over the past thirteen years. During the recent summit, memorandums of understanding (MoUs) and programs of cooperation were established for investment collaboration and information sharing in the energy, science and technology sectors. In addition to deepening economic cooperation, the leaders also discussed common positions on international and regional issues, emphasizing their commitment to the strategic partnership. Continue reading
By Dezan Shira & Associates, Delhi Office
Sept. 24 – India is fast emerging as a global trade dynamo with its vast natural resources and huge supply of skilled labor. Undertaking considerable industrial deregulation and other structural reforms, regulators in India recognizes that strong exports are critical for overall economic growth and poverty reduction. As such, export-led growth has become a key driver of trade in India – one of the most important trailblazers in the recent enormous expansion of international trade.
Indian trade has grown exponentially over the past few years, with exports rising at a rate well above the pace of growth of worldwide exports. In this atmosphere, opportunities have never been greater, and starting a trading business in India has never been easier. Continue reading
Posted in Foreign Trade
Sept. 18 – Small and midsize importers will get help with their LCL shipping needs via Transporteca, an online transportation booking portal launched globally in March 2013.
Buyers can find and book ocean freight with a suitable forwarder by comparing LCL solutions based on price, transit, pickup and delivery time, forwarder’s proximity at origin and destination, and customer feedback. These factors address many of the concerns importers have over LCL shipping. Continue reading
Sept. 17 – Japan will extend an Official Development Assistance (ODA) loan to Vietnam this year worth US$500 million, according to Japan’s Foreign Minister Fumio Kishida. The announcement was made this week during the fifth meeting of the Vietnam-Japan Cooperation Committee, a forum for bilateral cooperation chaired by the foreign ministers of both countries.
The US$500 million ODA loan has been earmarked for infrastructure and educational projects in Vietnam as a key component of the Joint Vietnam-Japan Initiative. The initiative, established in 2003, brings together both public and private sector leaders in an effort to strengthen Vietnam’s investment environment.
The Joint Vietnam-Japan Initiative utilizes the public-private partnership (PPP) model to provide support to Vietnam’s service and retail industries as well as funding for infrastructure projects. It also seeks to address macroeconomic concerns affecting Vietnam, such as inflation control and exchange rate stabilization. Continue reading
Sept. 13 – During the 10th China-ASEAN Expo, Chinese Premier Li Keqiang announced the proposal of a “Diamond Decade” between China and the ASEAN nations, which will seek to build greater economic cooperation between the two areas.
Premier Li was quoted as saying “we unanimously agreed that our common interests are expanding. We had the capabilities to create a ‘golden decade’ in the past. We also have the power to create a ‘diamond decade’ in the future.” Continue reading
Aug. 29 – The Prime Minister of Australia, Kevin Rudd, has recently unveiled Australia’s plan for bilateral engagement with India. Australia’s India country strategy will seek to build a stronger and more comprehensive relationship, a directive first revealed in Australia’s most recent White Paper.
“Australia’s relationship with India has perhaps the greatest potential to grow out of all of Australia’s significant bilateral relationships in Asia,” commented Rudd. “There is no greater symbol of the ties we share with India than the contribution and successes of the Indian diaspora who have made Australia home.” Continue reading
2point6billion.com provides news and analysis on foreign trade in south east Asia, with a particular focus on China and India. The stories are contributed by the foreign direct investment experts at Dezan Shira & Associates, who have offices throughout China, India and Vietnam.