Dhaka is moving ahead steadily to sign an accord on a bilateral Free Trade Area (FTA) with Kuala Lumpur as the ministry of commerce (MoC) has recently sent its "well-guarded position", containing a template on the proposed FTA to the Malaysian government, a top ministry official said. The ministry has clearly made the proposal in the "template" to include the provision of ’movement of natural persons’ under the Mode-Four (IV) of the World Trade Organisation (WTO) in the FTA.

Trade between Cambodia and Vietnam was worth $1.35 billion in the first half of the year, a year-on-year increase of 56.7 per cent, trade officials said. Addressing the Vietnamese Business Forum organized by the Ministry of Industry and Trade and the Vietnamese embassy in Phnom Penh on Tuesday, Deputy Minister of Industry and Trade of Viet Nam Le Danh Vinh said trade and transit agreements signed between the two countries have helped promote their commercial links.

The head of the Geneva-based World Trade Organization says Russian accession to the organization could be in sight. Pascal Lamy told a deal could be made as early as this year at a ministerial meeting set for December. Russia has tried for nearly two decades to join the WTO. But Lamy said this is the first time he had predicted a deal for Russian membership on the horizon. But he added that details in the negotiations still need to be worked out. Friday, 29 July, 2011, 06:45 Source: Reuters

HA NOI – After scrutinising recommendations from relevant associations, the Ministry of Finance yesterday said it would not impose the previously proposed export tax of 3 per cent on steel and 5 per cent on cement at this time. The ministry last month submitted a proposal to the Government that called for export taxes on steel and cement, saying that neither currently had taxes governing their export, while the industries were benefiting from low domestic electricity prices.

(Reuters) - India has arrived at an interim settlement with the European Union (EU) on how to prevent seizures of its generic drugs on EU soil, a senior trade ministry official said on Thursday. "We have agreed to an interim settlement with the EU," Rajeev Kher told reporters. Guidelines will now be issued to officials in all the EU's 27 states on letting Indian drugs pass, Kher said. The EU will also put the amendments before its parliament.

MANILA, Philippines — The Philippine coconut industry is optimistic that coconut exports are bound to grow further in markets where the Philippines has free trade agreements (FTAs) with, the industry association said. According to the United Coconut Associations of the Philippines (UCAP), a confederation of associations and organizations involved in the various activities of the Philippine coconut industry, exports of coconut products have been consistently rising with an average growth rate of 8% over the period of 2007-2010.

MUMBAI, India — A free trade agreement between Japan and India, due to take effect on Monday, may help prevent some Japan companies from moving overseas through an increase in exports, a senior Japan Bank for International Cooperation official in New Delhi says. The FTA will improve the competitiveness of Japanese companies in India against South Korean and other rival firms by cutting tariffs on exports from Japan, Joichi Kimura, chief representative of the JBIC’s representative office in the city, said during a recent interview with Kyodo News.

HA NOI — The number of automobiles imported into Viet Nam has dropped precipitously since the implementation of stricter regulations and higher taxes on auto imports, according to the General Department of Customs. The number of cars imported has fallen by about 50 per cent in the past month, from 3,130 in the first half of June to just 1,500 in the same period of July, the department said.

Washington — World Trade Organization (WTO) members have been unable to negotiate a set of deals to support the world's least developed countries, a package meant to be an "early harvest" ahead of meeting the rest of the Doha Development Agenda, according to U.S. Ambassador to the WTO Michael Punke.

The free trade accord between South Korea and Peru will take effect on Aug. 1, paving the way for the two countries’ trade and investment to increase sharply, Seoul’s trade ministry said Wednesday. "The free trade deal with Peru will contribute to bolstering trade and investment and promoting cooperation in resources development. We expect that the trade pact will help South Korea expand into the South American markets," the ministry said in a statement. South Korea and Peru signed the deal in March this year. South Korea’s parliament approved the pact last month.