July 23, 2013
Cuba is accelerating its pace of economic reform
Reposted from The Economist
AT 9.01am one morning earlier this month, Marino Murillo, a member of Cuba’s ruling Politburo, strode on to the stage at the International Press Centre in Havana, gave a concise account of the government’s economic plans, and took questions for 45 minutes. What would have been routine elsewhere was remarkable in communist Cuba, for three reasons. Gone is the interminable waiting around for the late-night rants of Fidel Castro: punctuality is one of the hallmarks of the government led since 2006 by his younger brother, Raúl. And after internecine political battles over liberalising economic reforms, the government is confident enough of its message to have invited a small group of foreign journalists to hear it—the first such initiative in many years. More…
July 1, 2013
Reposted from BBN
Bangladesh’s overall import orders increased by more than 19 percent in April 2013 compared to the corresponding period of the previous year despite political unrest, officials said.
Opening of letters of credit (LCs) against imports, generally known as import orders, rose to US$ 3.32 billion in April, 2013 from $ 2.78 billion in the same month last year, according to the central bank statistics.
“We expect that the rising trend of overall imports may continue in the coming months,” a senior official of the BangladeshBank (BB) said, adding that the lower exchange rate of the US dollar against the Bangladesh Taka (BDT) and availability of the greenback have contributed to the increase in the overall import orders.
June 13, 2013
Reposted from The Jakarta Post
As of last year, Indonesia and Myanmar’s bilateral trade reached $465 million, increasing 7.98 percent from $430.7 million in 2011.
By Agnes Winarti
Despite the ongoing communal tensions in Myanmar, both Indonesia and Myanmar have reiterated their commitment to achieving US$1 billion in trade volume by 2016.
“We are able to review the state of our economic relations and trade, especially our efforts to achieve $1 billion trade value by 2016, as well as our promotion of investment and progress in capacity building,” Foreign Minister Marty Natalegawa told journalists after the third meeting of the joint commission for bilateral cooperation between the two countries on Wednesday. More…
May 30, 2013
Reposted from The Nation
By PETCHANET PRATRUANGKRAI
Thailand plans to double trade with Sri Lanka and Maldives by 2017 under closer economic cooperation arising from an upcoming trade mission.
Commerce Minister Boonsong Teriyapirom said Thailand would forge closer cooperation with these two South Asian countries under the Kingdom’s strategy to penetrate new markets. Prime Minister Yingluck Shinawatra will lead a team of representatives from government economic agencies and private enterprises to visit Sri Lanka and Maldives from tomorrow to Sunday. More…
April 24, 2013
Fiji and PNG recently signed an agreement to boost trade and investment in both their economies
Reposted from Fiji Broadcasting Corporation
By Mika Loga
Papua New Guinea’s Trade Minister Richard Maru has reaffirmed his government’s commitment to Fijian businesses wanting to set up in the country.
Maru says they want Fiji to assist PNG in developing its agriculture, manufacturing and tourism sectors. He says PNG’s GDP is set to grow in the next few years when the country starts selling liquid natural gas overseas. More…
March 20, 2013
Fiji is New Zealand’s largest export partner in the Pacific
Reposted from Islands Business
New Zealand companies injected $342million (US$191 million) into the local economy from 2005 to 2010, adding mileage to its third spot ranking as one of Fiji’s top five investors behind China and Australia.
Speaking at the Fiji-New Zealand trade and investment mission seminar at the Tanoa Plaza in Suva yesterday, Ministry of Industry and Trade permanent secretary Shaheen Ali said New Zealand had a long and positive history of trade with Fiji, noting more than $287 million (US$160 million) worth of exports were traded to Fiji. More…
March 14, 2013
The IFC is launching a program to help improve the country’s investment and trade environment
Reposted from 2Merkato
By Meraf Leykun
The International Finance Corporation (IFC), member of the World Bank Group is to cooperate with the Ethiopian Ministry of Trade (MoT) and Ethiopian Revenue and Customs Authority (ERCA) to help improve the country’s investment and trade environment.
The Ministry of Trade will launch an electronic business licensing and trade registration system shortly, while Ethiopian Revenue and Customs Authority will consider to revise its laws. More…
March 12, 2013
Chinese companies are building a $2.8 billion electrified railway from Ethiopia to Djibouti port, one of the first electric trains in East Africa
Reposted from Business Insider
By Jenny Vaughan
Camels rather than locomotives lumber over the railway tracks in this remote desert, famously traversed by storied French adventurers Arthur Rimbaud and Henry de Monfreid in the early 20th century.
The old French-built railway that connected Addis Ababa, the capital of landlocked Ethiopia, to the Red Sea port of Djibouti, is now being replaced by a Chinese-built electrified railway, a bold project that seeks to boost Ethiopia’s commercial exports. More…
January 21, 2013
Reposted from Ventures Africa
Ethiopia is working to gain accession to the WTO by 2014
Ethiopia may be eligible to join the World Trade Organisation (WTO) by 2014, according to officials at the organisation.
The announcement that the country may be able to join the WTO within the next two years was made by Pascal Lamy, out-going Director General of the organisation while visiting Ethiopia to hold talks on the potential WTO membership. More…
December 3, 2012
Turkey plans to invest in capital projects in Fiji
Reposted from The Fiji Times Online
By Sherita Sharma
Fiji has the support of the Turkish government in key areas of trade, development and international co-operation, says the Turkish ambassador Atilay Ersan. More…