LAGOS, Aug. 2 (Xinhua) -- The importation of cement would soon be over with the level of operation at cement factories in Nigeria, a top government official has said. Minister of Trade and Investment Olusegun Aganga said this on Monday while inspecting the Dangote Cement Plant in southwest Ogun State. Nigeria was on the verge of being self-sufficient in cement production, the minister said. According to him, the Ibeshe plant was capable of producing six million tones of cement per annum when completed.

The bilateral free trade agreement (FTA) between China and Costa Rica, the negotiations for which began in January 2009 and which was signed in April last year, came into effect on August 1, 2011. Under the agreement, Costa Rica will cancel within 15 years more than 90% of tariffs on goods originating in China, of which 60% will be implemented from the effective date of the agreement, while China will eliminate the import duties on over 95% of goods originating from Costa Rica, 65% of which will be effective immediately.

SEOUL (Yonhap) — South Korea logged a trade deficit with the European Union last month as imports spiked from the region after both implemented a free trade deal, customs data showed Monday. The free trade agreement (FTA) between South Korea and the EU went into effect on July 1. Under the deal, both sides will eliminate or phase out tariffs on 96 percent of EU goods and 99 percent of South Korean goods within three years after the accord takes effect.

BRUSSELS, Aug 1 (Reuters) - The European Union is set to launch trade barriers on bicycles and ceramic tiles from China, diplomats said on Monday, the latest defensive measures designed to protect EU producers. Plans by the EU Commission to launch five-year punitive import duties worth up to 69.7 percent on the bloc's 275 million euro imports of Chinese bathroom, kitchen and paving tiles received majority backing from trade diplomats from EU states, diplomats said.

Any Doha package delivered by the end of the year must only be the first stage in securing a full set of agreements on the Round's agenda, the European Union has said. Angelos Pangratis, EU Ambassador to the World Trade Organization (WTO), outlined the EU's position on the Doha Round, addressing the WTO in Geneva. The Round continues to be dogged by a stalemate which suggests that a very limited package is likely to be delivered in time for a crucial WTO ministerial meeting in December.

PTI/NEW DELHI: At a time when India and the EU are struggling to negotiate duty cuts on automobiles, New Delhi will drastically reduce tariffs on diesel engines and gear boxes from Japan under their free trade pact. The Comprehensive Economic Partnership Agreement (CEPA) between India and Japan will come into force from tomorrow. While India will reduce duty on diesel engines to 5 per cent from 12.5 per cent in the next six years, it will cut tariffs on gear boxes to 6.25 per cent from 12.5 per cent in the next eight years.

Indonesia is ready to soon implement a free trade agreement with Australia and New Zealand as part of a free trade pact signed by ASEAN and the two countries. Trade Ministry director general for international trade cooperation Gusmardi Bustami said Friday in Jakarta that the finance minister was preparing items for the legal enactment of the agreement, which would contain a schedule to lift tariffs.

HANOI, July 29 (Xinhua) -- The Vietnam Chamber of Commerce and Industry (VCCI) and the Trade Development Authority of Pakistan held here on Friday a workshop on trade cooperation between the two countries, with the hope to provide opportunities for both sides' businesses to exchange information and expand their business cooperation.

The Indian government has announced that it would restore tax rebates on raw cotton and cotton yarn for export, following a review of the industry which has been in trouble recently with the fall in both domestic and international prices of cotton. The Duty Entitlement Pass Book (DEPB) scheme, which provides tax refunds for exporters, has been reinstated on a retrospective basis on cotton yarn from April this year and on cotton from October 2010.

SAN JOSE, July 29 (Xinhua) -- The Free Trade Agreement (FTA) between Costa Rica and China, the first such pact inked between China and a Central American country, will enter into force on Aug. 1, Foreign Trade Minister Anabel Gonzalez said Friday. Both sides have completed the necessary procedures exchanged all the diplomatic notes, the Foreign Trade Ministry said in a statement.