(Reuters) - A global agreement to cut red tape in world trade, which could be worth hundreds of billions of dollars to the world economy, is being stymied by some countries' "hostage-taking", a top U.S. trade official said on Wednesday. Diplomats at the World Trade Organization have become increasingly pessimistic about striking a global trade deal at a meeting in December in the Indonesian resort of Bali, despite deliberately setting an unambitious target in hopes of reviving confidence in moribund global trade talks.

LIMA – The 11 countries involved in the Trans-Pacific Partnership have agreed to hold the next round of free-trade talks in Kuala Lumpur from July 15 to 25, extending the meeting to include Japan as the 12th member. The United States and the 10 other member nations wrapped up their 17th round of negotiations Friday in Lima. Trade minister Toshimitsu Motegi indicated earlier in the day the Japan can join no earlier than the afternoon of July 23, as that is when U.S. congressional procedures regarding Japan’s entry to the discussions will be met.

BEIJING, May 26 (Xinhua) -- The Ministry of Commerce (MOC) said Sunday that it will start negotiating with its EU counterparts in Brussels next week regarding recent trade frictions. Vice Minister of Commerce Zhong Shan and Jean-Luc Demarty, the European Commission's director-general for trade, will co-chair talks on China-EU trade and investment on May 27, according to a statement from the MOC. Zhong will also discuss issues related to solar panels and wireless telecoms equipment with EU Trade Commissioner Karel De Gucht.

(Reuters) - Mexico is considering imposing retaliatory trade measures on the United States in a dispute over the fairness of U.S. rules requiring meat to carry labels that specify its origin, the country's economy ministry said on Friday. Mexico said new U.S. rules for meat labeling were even more onerous than a set of regulations that the World Trade Organization (WTO) declared were unfair in June 2012, the ministry said in an emailed statement.

China’s foreign-exchange regulator told banks to improve checks of customer documents related to special trade zones amid speculation that the areas have been exploited to disguise capital inflows as exports.

At the Ministerial Meeting on International Economic Affairs held on May 21, South Korea's Deputy Prime Minister Oh-Seok Hyun commented on current initiatives to strengthen South Korea-Russia economic cooperation, including the possibility of recommencing negotiations for a bilateral free trade agreement (FTA).

TOKYO (Nikkei)--Japan's "bold" entry into the Trans-Pacific Partnership negotiations must be accompanied by structural reforms to the economy if the country is to maximize the benefits of the agreement, Singapore's Prime Minister Lee Hsien Loong said Thursday in Tokyo. Regional Stability will be realized through economic integration and balanced diplomacy with China, he argued.

BEIJING, May 23 (Xinhua) -- Major Chinese solar panel makers on Thursday protested over punitive tariffs the European Union plans to levy on Chinese-made photovoltaic (PV) products. Protests at more than 40 solar companies broke out as EU member states begin voting on proposed anti-dumping duties ranging from 37 percent to 68 percent Friday. The provisional rates will be effective from June 6 if the proposal is passed.

LONDON/BEIJING, May 22 (Reuters) - A slide in sugar prices driven by excess supplies may be given fresh impetus soon with China, one of the world's top importers, likely to cut back on purchases after a sharp jump in stocks. China's sugar stocks more than doubled last season, leading many to expect a significant fall in purchases in 2012/13. So far trade flows have held up well, but action stopping short of an official duty hike is expected soon to clip inflows.