ISLAMABAD: The Ministry of Commerce is negotiating trading arrangements with Mercosur countries like Brazil, Argentina, Paraguay, Uruguay, Venezuela and Andean Community (CAN) a trade bloc comprising the South American countries of Bolivia, Colombia, Ecuador and Peru to increase it’s trade market access.

The General Council of the World Trade Organisation (WTO), has agreed that its 9th Ministerial Conference would be held in Bali, Indonesia in the first week of December 2013.  The body arrived at the conclusion during its meeting on 25-26 July 2012. The chair of the General Council,  Amb. Elin Johansen (Norway), warmly thanked Indonesia for its “kind offer”, which she said was “a clear sign of its commitment towards this organization.”  

NEW DELHI, Aug 4: Belgium yesterday hoped the ongoing negotiations for India-EU free trade agreement will conclude by end of this year, as it sought access to the country’s public procurement market, reports PTI. “I hope that by end of this year, we will be able to conclude the negotiations,” Belgium Deputy Prime Minister and Minister of Foreign Affairs Didier Reynders said here at a Ficci function. Reynders said that it is important to sign this agreement to boost economic ties between India and European Union (EU).

HCM CITY — Viet Nam has signed a contract to ship 30,000 tonnes of tra fish to Russia, the Management Board for Catfish Export to Russia said. The delivery has to be made through this year. The board also signed an agreement for co-operation with the Russia Seafood Association in seafood processing and export to that country, and to export around $300 million worth of seafood next year. The agreements to export large volumes of tra will enable embattled Vietnamese farmers to find outlets for their produce.

WASHINGTON, Aug. 2 (Xinhua) -- The U.S. government determined on Thursday it would maintain the existing antidumping duty on lined paper school supplies from China, despite Beijing's repeated calls for Washington to drop protectionism. The U.S. International Trade Commission (ITC) said in a ruling that revoking the current antidumping duty order on imports of Chinese lined paper school supplies would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time. All six commissioners voted in the affirmative.

Korea and Turkey signed a free trade agreement on Wednesday, as a first step towards expanding bilateral trade between the two countries. Korean Trade Minister Bark Tae-ho, who is currently on a three-day visit to Turkey, met with his Turkish counterpart Zafer Caglayan in Ankara to ink the deal. This is the ninth trade pact signed by Korea, and is expected to not only strengthen bilateral ties, but also serve a major role in bridging Korea with other countries.

TAIPEI — A senior US diplomat is to visit Taiwan this month, officials said Wednesday, as Taipei looks to resume free trade talks with Washington after lifting a six-year-old ban on some US beef imports. US Assistant Secretary of State for Economic and Business Affairs Jose W. Fernandez will visit Taiwan on Sunday and meet President Ma Ying-jeou, the de facto US embassy said. The visit would particularly focus on trade, investment and tourism, the American Institute in Taiwan said in a statement.

WASHINGTON, Aug 1 (Reuters) - A U.S. business coalition on Wednesday signaled it has given up hope that Congress would pass critical legislation to upgrade trade ties with Russia before that country enters the World Trade Organization on Aug. 22. "Congress must pass PNTR (permanent normal trade relations) as soon as possible after returning from recess in September, or else risk putting U.S. businesses, workers and farmers at a long-term disadvantage in this important market," the Coalition for U.S.-Russia Trade said in a statement.

The United States determined Tuesday it would continue to slap antidumping duties against tapered roller bearings from China. Revoking the current antidumping duty order on imports of Chinese tapered roller bearings would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time, said the U.S. International Trade Commission ( ITC) in a ruling. As a result of ITC's affirmative determination, the existing antidumping duties of 7.74 percent on imports of this kind of products from China will remain in force.

RAMALLAH, Aug. 1 (Xinhua) -- The Palestinian National Authority (PNA) welcomed Wednesday Saudi Arabia's decision to keep exempting Palestinian imported goods from taxes. The Saudi Council of Ministers agreed to extend the exempt of Palestinian goods from custom duties for another year. The Palestinian Minister of Economy Jawad Naji said the decision to free goods from custom duties will strengthen their economy and trade relations.