Vietnam and Turkey are about to ink agreements covering investment promotion and protection, double taxation avoidance and aviation.

Trade fair to promote ties with Japan

The Vietnam Food Association (VFA) raised the floor prices for rice exports on February 21, just one week after reducing them. Five percent broken rice now sells for US$520 per tonne (up by US$20), while 25 percent broken rice stands at US$490 per tonne (up US$10). This adjustment came into effect on February 22 and applies to deliveries in February and March this year. This is the fourth time the VFA has adjusted the floor prices of export rice since early 2011.

VIENNA, Feb. 22 (Xinhua) -- The daily oil price of the Organization of Petroleum Exporting Countries (OPEC) breached 100 U.S. dollars a barrel, the Vienna-based cartel said Tuesday. OPEC's benchmark basket of 12 crude oils stood at 100.59 U.S. dollars a barrel on Monday, compared with 99.08 dollars the previous Friday, according to OPEC Secretariat calculations.

New Delhi, Feb 22 (PTI) India's trade with the 10-member South East Asian nations bloc may touch USD 70 billion by 2014 because of the free trade agreement (FTA) that came into force last year, a government official said today. The two-way commerce between India and the Association of South East Asian Nations (ASEAN) increased to over USD 50 billion in 2010 from USD 41 billion in the previous year, Joint Secretary in the Commerce Ministry Sumanta Choudhuri told reporters here.

TOKYO, Feb. 21 (AP) - (Kyodo)—The Japanese government said Monday that it will send senior officials to Vietnam to gather information about the ongoing negotiations for a Pacific free trade agreement, an initiative which Japan is showing interest in. Japan has held consultations with eight of the nine countries negotiating the Trans-Pacific Partnership, including the United States. Vietnam is the only country among the nine to which Japan has not sent officials to talk specifically about the TPP issue.

China has raised fuel prices for the second time in three months as it looks to offset a jump in global crude costs. However, the move has raised questions over government attempts to slow inflation. China, which subsidies the cost of fuel, increased the price of wholesale petrol and diesel by $53 (£34) per tonne from Sunday. Further price rises may be needed if the cost of oil keeps rising on the international market, analysts said.

WASHINGTON: The World Trade Organization on Friday issued a confidential preliminary ruling in a landmark case against China's export restrictions on raw materials used to manufacture steel, aluminum and chemical products. The United States, European Union and Mexico launched the case in 2009, complaining that Chinese export restrictions on minerals such as bauxite and magnesium discriminated against foreign manufacturers and gave an unfair advantage to domestic producers.

Vietnamese exporters have overcome many challenges to meet their export target in over 16 commodities to achieve an export turnover of over US$1 billion. Exporters optimistic for the year According to the World Rubber Association, the demand for rubber in 2011 is expected to reach 11-15 million tons, but the natural rubber output in the world remains less than this figure. With the demand exceeding supply, rubber prices are expected to increase in 2011.

India, the biggest sugar user, may permit exports of 500,000 metric tons as output tops demand for the first time in three years and after food inflation slowed to a two-month low, industry officials said. The government may take a decision as early as this week, Jonathan Kingsman, managing director of broker and researcher Kingsman SA, and Abinash Verma, director general of the Indian Sugar Mills Association, told a conference in Dubai today.