By Alex Tangkilisan
Feb. 27 – In the third part of our ASEAN-India Free Trade Area analysis, we will examine trade trends and statistics from India to Cambodia, Brunei, Laos and the Philippines.
While the Philippines is part of the ASEAN six majors, Cambodia, Brunei and Laos are the three smallest economies in the region. Together, these four countries combine for a GDP of US$258.30 billion, a population of 115.85 million and exports to India amounting to US$1.33 billion (or, about 0.27 percent of India’s total imports). Continue reading
Indian Foreign Minister Salman Khurshid’s February 5 visit to Chile and Argentina is emblematic of the new era in Indo-Latin America relations. What does this increased engagement mean for India and Chile, two rapidly growing economies of the Global South?
By Ambassador Jorge Heine
Feb. 21 – The on-going visit of Indian Foreign Minister Salman Kurshid to Chile and Argentina from February 5-8 is a welcome development. Though India is cutting a higher profile in world affairs, the visits of its various foreign ministers to Latin America and the Caribbean (LAC) have been few and far between. This is the first visit by an Indian foreign minister to Chile. Such exchanges at the highest levels, be it between heads of government or senior Cabinet ministers, give bilateral relationships the much-needed momentum to move forward. This is especially true for India and Latin America, which have much to offer to each other, but where links between its political elites have been scarce.
There is no country in the world farther away from India than Chile. Yet, what we have seen over the past decade is proof that, though we may not be living at the end of history, we are at the end of geography as we know it.
Globalization has facilitated much of this change, and India and Chile have certainly made the most of it as part of the Global South. Continue reading
Feb. 14 – Recent figures from the U.S. Energy Information Administration have revealed that China consumes almost as much coal as the rest of the world combined. Perhaps even more shocking, it has been estimated that India, who currently faces domestic shortages, could be importing as much coal as China by 2017. As the Asian giants continue to consume resources at an extraordinary rate to fund their development, it is increasingly clear that their consumption of coal may be a cause for concern.
In 2011, China’s coal consumption grew 9 percent, rising to a massive 3.8 billion tons. In the same period, the rest of the world combined was consuming 4.3 billion tons of coal. Analysts from Macquarie Bank now expect China to consume 3.9 billion tons in 2013.
Chinese coal imports, however, will fall by almost 10 percent in 2013 due to rising domestic supply, improved transport networks and weak power demand growth. According to a poll of 12 analysts, total imports are expected to stand at almost 210 million tons in 2013, compared to the 234.3 million tons of coal which was imported last year. Continue reading
Feb. 12 – This United States (U.S.) has filed a complaint with the World Trade Organization (WTO) that challenges India’s national solar program, claiming that it discriminates against foreign solar products. According to the U.S., India’s solar program, which was initially launched in 2010, requires producers to utilize Indian-manufactured solar cells and modules. This ‘forced localization’ has resulted from the subsidies the Indian government has offered for using domestically produced equipment instead of foreign imports.
“Let me be clear: the United States strongly supports the rapid deployment of solar energy around the world, including with India,” said U.S. Trade Representative Ron Kirk. “Unfortunately, India’s discriminatory policies in its national solar program detract from that successful cooperation, raise the cost of clean energy, and undermine progress toward our shared objective.” Continue reading
By Alex Tangkilisan
Feb. 7 – The ASEAN–India Free Trade Area (AIFTA) is a free trade area consisting of the 10 member states of the Association of Southeast Asian Nations (ASEAN) and India. The initial framework agreement was signed in Bali, Indonesia, on October 8, 2003, and the final agreement was signed on August 13, 2009. The free trade area came into effect on January 1, 2010.
In the aftermath of the recent ASEAN-India Commemorative Summit in New Delhi on December 20-21, 2012, and the subsequent passing of the free trade agreement (FTA) on services and investments, economic ties and prosperity are set to blossom between the two regions. Continue reading
Jan. 28 – China National Petroleum Corporation (CNPC) stated that the long awaited Myanmar-China oil and gas pipelines should be operational by May of this year. The 1,100 kilometer pipeline stretches from Kyaukpyu Port on Myanmar’s central west coast, crosses the country from west to east and terminates at Ruili, near Kunming, in Yunnan Province.
The pipeline contains two feeder pipes: one containing oil shipped to Kyaukpyu from the Middle East and Africa across the Indian Ocean, and the other containing gas from the Shwe gas fields in the Bay of Bengal. The oil route negates the need for China to send shipments through the Straits of Malacca. Continue reading
Jan. 11 – The first issue of Asia Briefing Magazine, titled Are you Ready for ASEAN 2015?, is out now and will be temporarily available as a complimentary PDF download on the Asia Briefing Bookstore through the months of January and February 2013.
Although both China and India have recently signed free trade agreements with ASEAN, many businesses still seem blissfully unaware of the free trade agreements and economic partnerships that are dramatically changing Asia’s business opportunities. These are agreements that do away with customs duties and tariffs on thousands of products. In this first issue of the bi-monthly Asia Briefing magazine, we focus on the new dawn that ASEAN free trade brings to the entire region, as well as the dramatic added impact of pan-Asian free trade agreements such as the Regional Comprehensive Economic Partnership. 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.