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
Aug. 16 – Buyers sourcing in China can expect marginally shorter delivery lead times and perhaps more competitive prices from suppliers as fresh government measures to stimulate growth take effect.
Announced by the State Council on July 24, 2013, the measures are targeted at SMEs, which are most impacted by the slowdown in manufacturing and exports. Dubbed as “mini stimulus” for the tight focus, the package has a three-prong approach. The state-owned Xinhua news agency said two of these measures are “designed to provide small businesses with a badly needed liquidity lifeline.”
Under the first measure, micro firms, or businesses making less than 20,000 yuan ($3,260) monthly in sales, will be exempt from value-added tax starting August 2013. About 6 million companies will be covered by the tax break, which aims to encourage hiring among these businesses, consequently reinvigorating production. Continue reading
By Nick Ottens
Jul. 31 – The world’s two largest economic powers avoided an escalation in their trade dispute on Saturday when they agreed to limit Chinese solar panel sales to Europe.
After six weeks to talks, and days before a European tariff on Chinese solar panels was slated to be raised, the body’s trade chief and his Chinese counterpart agreed to set a minimum price for panels from China and restrict its share of the European solar energy market.
The European Commission announced an 11.8 percent import duty on China’s solar panels last month and accused it of “dumping” its products on the European market at low prices, putting European firms out of business. Although European green energy companies are also usually subsidized by their national governments, they could not compete with China’s lower production costs and state subsidies for solar panel producers. 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.