Foreign Minister Seiji Maehara and his South Korean counterpart Kim Sung Hwan agreed that the two countries will work toward reviving negotiations on a bilateral free trade agreement, which have been stalled since 2004 and continue to cooperate in seeking North Korea's actions for denuclearisation.

NEW DELHI—India lifted a ban on onion exports Thursday, with food inflation easing to a nine-week low as vegetable prices dropped sharply. About six weeks after imposing the ban, a response to vegetable prices that were pushing food inflation to multi-month highs, the government is again allowing the export of onions, at a floor price of $600 a metric ton, Onion prices have fallen nearly 70% from their record highs as fresh supplies of late-sown varieties make up for earlier crop losses in two states.

The European Parliament has ratified a free-trade pact between the EU and South Korea - clearing the way for the deal to come into effect from July. The agreement is expected to double the value of trade in goods between the EU and South Korea to about 100bn euros (£84bn; $135bn). Most trade tariffs between the two partners will be removed. However, 128 MEPs opposed the plans, with concerns it would be damaging to industries within Europe.

GENEVA – The World Trade Organization on Tuesday urged Japan to reform its labour market, saying that it needed to boost the number of full-time workers if it is to stimulate domestic demand. The proportion of part-time or temporary workers, who are paid substantially less than regular employees, has grown from 20 percent in 1990 to 34 percent in 2008, the WTO noted.

The Ministry of Industry and Trade has given permission to 24 enterprises to import sugar up to July this year for the domestic market, said the Ha Huu Phai, general secretary of the Viet Nam Sugar Association. The Viet Nam Dairy Corporation received the largest import quota and has been given permission to buy 65,000 tonnes of sugar. Viet Nam Dairy was followed by Friesland Campina Company, which is permitted to import 15,000 tonnes. Meanwhile, Sanofi Synthelabo Viet Nam has been given permission to import just 322 tonnes of sugar, the smallest quota.

Japan's government signed a free-trade agreement with India on Wednesday, bolstering ties with the fast-growing South Asian economy with which it shares a mutual concern about larger economic rival China. The agreement will make Japan and India each other's biggest free-trade partners, and will do away with tariffs on 94% of trade between the two countries within 10 years, according to the Japanese government.

TEHRAN, (Xinhua) -- Turkey and Iran aim to boost trade and political ties, the two countries' leaders said Monday during Turkish President Abdullah Gul's visit to Iran. Accompanied by a large delegation of ministers and businessmen, Gul arrived in Tehran on Sunday for a four-day visit and held talks with his Iranian counterpart Mahmoud Ahmadinejad. Turkey and Iran should take steps to enhance trade and preferential trade agreement must be finalized as soon as possible, Gul told a joint press conference with Ahmadinejad.

TOKYO, Feb. 16 (Xinhua) -- Japan on Wednesday signed a bilateral free trade agreement (FTA) with India aimed at boosting trade between export-dependent Japan and rapidly-growing India. Foreign Minister Seiji Maehara and Indian Commerce and Industry Minister Anand Sharma affirmed the agreement at a ceremony at the Foreign Ministry in Tokyo. The bilateral accord, which will make Japan and India each other's largest free trade partner, will be endorsed in parliament promptly, Japanese officials said.

ISLAMABAD: Cristina G. Ortega, Assistant Secretary Office of Asian and Pacific Affairs, said that trade between Pakistan and Philippines must be enhanced to further strengthen trade and economic relations. “The two countries have long history of cordial relations, and through diversification of product range the bilateral trade can be enhanced”, she added.

Oil traded near the lowest since November in New York after analysts forecast crude stockpiles in the U.S. will increase for a fifth week and as tensions eased in Egypt after the ouster last week of President Hosni Mubarak.