Bilateral trade – K Sup Radio http://ksupradio.com/ Thu, 22 Jul 2021 03:06:57 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://ksupradio.com/wp-content/uploads/2021/03/cropped-icon-32x32.png Bilateral trade – K Sup Radio http://ksupradio.com/ 32 32 United States closely observes trade activity between Australia and China: USTR https://ksupradio.com/united-states-closely-observes-trade-activity-between-australia-and-china-ustr/ Thu, 22 Jul 2021 03:02:19 +0000 https://ksupradio.com/united-states-closely-observes-trade-activity-between-australia-and-china-ustr/ The United States is closely monitoring the trade situation between China and Australia, said US Trade Representative Katherine Tai. She made the remarks during a meeting with Australian Trade, Tourism and Investment Minister Dan Tehan on Wednesday. Tai told Tehan that the United States stands with Australia on this common challenge and supports rules-based international […]]]>

The United States is closely monitoring the trade situation between China and Australia, said US Trade Representative Katherine Tai.

She made the remarks during a meeting with Australian Trade, Tourism and Investment Minister Dan Tehan on Wednesday.

Tai told Tehan that the United States stands with Australia on this common challenge and supports rules-based international trade, according to a press release.

They discussed the importance and strength of the bilateral trade relationship, which is underpinned by the Free Trade Agreement between the United States and Australia, he said.

They also agreed to continue working together to develop a digital trade policy that supports the digital economy and meets the needs of workers, recognizing the importance of collaboration between those with open, free and democratic systems.

“During the meeting, Ambassador Tai noted that the United States is closely monitoring the trade situation between Australia and China,” USTR said in a statement.

Tai said the United States stands with Australia in addressing this common challenge and supports rules-based international trade to promote fair and market-oriented trading practices.

“Tai reiterated the United States’ commitment to engage our allies, including Australia, to tackle China’s state-led non-market practices that harm our workers, businesses and citizens,” the report said. communicated.

Tai and Tehan welcomed the continued high-level talks to tackle non-market practices, including economic coercion, he said.

They also discussed reform of the World Trade Organization, supply chain resilience and regional economic collaboration in the Indo-Pacific, the statement said.

Also Read: Edward Snowden Urges Governments To Ban Spyware Trade Like Pegasus

Also read: World Trade Organization chief to conclude fish talks as developing countries cry foul


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US Secretary of State Anthony Blinken is expected to visit India next week https://ksupradio.com/us-secretary-of-state-anthony-blinken-is-expected-to-visit-india-next-week/ Tue, 20 Jul 2021 16:29:42 +0000 https://ksupradio.com/us-secretary-of-state-anthony-blinken-is-expected-to-visit-india-next-week/ US Secretary of State Anthony Blinken is expected to make his first visit to India “very soon”, sources said, indicating that planning for the visit is underway for a meeting as early as next week. “Dates are still being finalized,” said an official The Hindu, confirming the visit, while another official said meetings were scheduled […]]]>

US Secretary of State Anthony Blinken is expected to make his first visit to India “very soon”, sources said, indicating that planning for the visit is underway for a meeting as early as next week.

“Dates are still being finalized,” said an official The Hindu, confirming the visit, while another official said meetings were scheduled in New Delhi in “late July”.

Mr Blinken’s visit is expected to set the stage for the Quad Summit and bilateral meetings between Prime Minister Narendra Modi and US President Joseph Biden to be held in Washington later this year, and is also expected to discuss the emerging situation in Afghanistan. , including The Taliban advance after the withdrawal of US troops with Indian officials. Mr Blinken’s proposed visit, which has not yet been announced, could coincide with the three-day visit of the chief of the Afghan army, Lt. Gen. Wali Mohammad Ahmadzai to Delhi.

India and the United States have a wide range of bilateral relations to discuss and Mr. Biden has made it clear that the American Indo-Pacific strategy which includes India is an important area, especially given the growing tensions between the United States and China.

India and the United States have ongoing talks on a free trade agreement as well as India’s request to restore its GSP status for exports, which was revoked by the previous Trump administration, and the United States. two sides will discuss improving economic, defense and energy cooperation, as well as cooperation to fight COVID-19. The US Quad initiative to produce a billion vaccines is based on Indian production. Compensation issues for US vaccine makers, which have blocked supplies to India, have yet to be resolved and are expected to arise during the talks.

Despite problems with the spread of the pandemic, the Biden administration has made New Delhi a major stopover since being sworn in in January, and Mr. Blinken and Mr. Jaishankar have made early contact over a period of time. number of telephone conversations.

Defense Secretary Lloyd Austin was the first senior official in the Biden administration to visit Delhi in March, followed by Mr Biden’s special envoy on climate change John Kerry. The Modi government has also made ties with the new administration a priority, and Foreign Minister S. Jaishankar visited Washington in May and met with Blinken in London on the sidelines of the ministers’ meeting. G-7 foreign affairs also in May and in Rome at the G-20 foreign ministers meeting in June.

The Quad summit comprising the leaders of the United States, Japan, Australia and India, which took place virtually earlier this year, is scheduled to be held in Washington with the leaders “in person” in September, except programming issues and developments in the COVID situation.

After the second wave in India, Prime Minister Narendra Modi had to cancel his plans to visit Europe and the UK over the summer, and it remains to be seen whether he will be able to travel to the US in September, as well as the G-20 summit in Italy in late October, or the COP 26 climate change summit in the UK in early November, to which he was invited.

As Secretary of State, Mr Blinken’s tenure has been marked by a wave of international and some visits, and his visit to Delhi is likely to see a mention of US concerns over human rights as well. man, as General (Ret.) Austin did so earlier this year.

In addition to comments by a senior State Department official on “growing restrictions on free speech and the detention of human rights activists and journalists in India” in April, and his report criticizing “government practices On minority rights and the situation in Jammu and Kashmir in May, the State Department also issued a strong statement on Tuesday on the Pegasus spyware and “extrajudicial surveillance” affair.

However, officials say human rights issues are part of normal discussions between two “close partners and friends” like India and the United States who meet regularly.


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News in brief https://ksupradio.com/news-in-brief/ Tue, 20 Jul 2021 07:05:12 +0000 https://ksupradio.com/news-in-brief/ Thomas takes over bar at the mall Denise Thomas has been named CEO of World Trade Center Arkansas and is the first black woman to be appointed CEO of a World Trade Center in the United States, according to a statement released Monday. Thomas has worked at the Rogers center for 14 years and most […]]]>


Thomas takes over

bar at the mall

Denise Thomas has been named CEO of World Trade Center Arkansas and is the first black woman to be appointed CEO of a World Trade Center in the United States, according to a statement released Monday.

Thomas has worked at the Rogers center for 14 years and most recently served as Commercial Director overseeing operations in Africa, Europe and the Middle East. She succeeds W. Dan Hendrix, who retired in June. Hendrix was the first CEO of central Arkansas.

“I have big shoes to fill. Dan has worked hard to lay an incredible foundation,” Thomas said in a statement. “The center has helped improve two-way business opportunities with Arkansas businesses. I am optimistic about the future role the Natural State and the center will play on the world stage.”

Arkansas’ exports in 2019 accounted for $ 6.2 billion in trade while supporting more than 25% of the state’s workforce, according to data compiled by the center.

Originally from California, Thomas began his career in economic development in 1998 in Florida at the Jacksonville Chamber of Commerce.

– John Magsam

Arkansas society

covid test available

Springdale-based NOWDiagnostics Inc.’s single drop blood test for the covid-19 antibody is now available nationwide through the American Pharmacists Association Foundation, the company said on Monday.

The test is now part of the IMPACT Care Transformation Network.

“As has been demonstrated since the start of the pandemic, the care provided by pharmacists is essential to public health and the well-being of communities all over the world, and we believe this opportunity with NOWDiagnostics and the APhA Foundation presents another great way for pharmacists to serve their patients and their communities, ”said Benjamin M. Bluml, RPh, senior vice president of research and innovation at the American Pharmacists Association Foundation, in a statement.

At the end of May, NOWDiagnostics received emergency clearance from the FDA for its one-drop blood test. The company had been working on the test since February 2020 and applied for emergency clearance for about a year.

The test has been approved by the FDA for use in a variety of locations, including pharmacies, clinics, and hospital emergency rooms.

– John Magsam

State index collapses

at 609.73, excluding 16.45

The Arkansas Index, a price-weighted index that tracks the state’s largest public companies, closed Monday at 609.73, down 16.45.

“An increase in delta-variant infections pushed Wall Street down on Monday as investors feared further Covid-19 shutdowns and a prolonged economic recovery,” said Chris Harkins, managing director of Raymond James & Associates.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of December 30, 1997.



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Building promising and dynamic relations between China and ASEAN https://ksupradio.com/building-promising-and-dynamic-relations-between-china-and-asean/ Mon, 19 Jul 2021 12:20:04 +0000 https://ksupradio.com/building-promising-and-dynamic-relations-between-china-and-asean/ Bangkok, July 19 (Xinhua) – About a 2 hour drive from downtown Bangkok, near Laem Chabang port in eastern Thailand, you can see the Chinese flag flying high in the Thai sky, well planned. An industrial zone has been built. Established in 2006, the Thailand-China Rayong Industrial Zone is one of the first overseas industrial […]]]>


Bangkok, July 19 (Xinhua) – About a 2 hour drive from downtown Bangkok, near Laem Chabang port in eastern Thailand, you can see the Chinese flag flying high in the Thai sky, well planned. An industrial zone has been built.

Established in 2006, the Thailand-China Rayong Industrial Zone is one of the first overseas industrial parks in China, providing witnesses and evidence of beneficial cooperation and common development between China and the countries from ASEAN. I go.

Currently, there are more than 160 Chinese investment companies, mainly in the automotive, electronics and machinery fields, and the industrial zone has provided more than 40,000 local jobs.

Himir Group, China’s largest tire mold supplier, established a factory in Rayon Industrial Zone in 2014. To expand its business, Himir Group established seven overseas companies around the world, three of which are in ASEAN countries.

“Most of the world’s largest tire producers have production bases in ASEAN countries. We want to get closer to them and build a Thai factory in a production base that serves the Southeast Asian market. “We are doing it,” said Qiu Jinliang, general manager. From Himir (Thailand).

In 2020, China’s foreign direct investment (FDI) in ASEAN countries jumped 52.1% year-on-year, reversing the global downward trend. China’s strong economic recovery from the shock of COVID-19 and the new development paradigm of “dual circulation”, in which domestic and foreign markets are mutually reinforcing, with the domestic market being the main force, have also attracted ASEAN investments. According to China’s Ministry of Commerce, ASEAN investment in mainland China jumped 50.7% in the first half of 2021.

Bilateral trade has also flourished for many years, supported by the friendly relations between the two countries and the China-ASEAN Free Trade Agreement (CAFTA). For the first time in 2020, China and ASEAN have become their main trading partners.

This year marks the 30th anniversary of the dialogue between China and ASEAN. Since the start of bilateral trade in July 1991, two-way trade has grown from less than US $ 8 billion to over US $ 680 billion last year.

Thanks to CAFTA, more products from ASEAN countries are entering the Chinese market, from agricultural products such as mango, dorian and coffee to primary and intermediate products such as rubber and paper.

According to Chinese customs statistics, the volume of trade between China and ASEAN maintained strong growth in 2021 and increased 27.8% year-on-year in the first half of the year.

Last November, 15 Asia-Pacific countries, including China, and 10 ASEAN member states signed the Regional Comprehensive Economic Partnership Agreement (RCEP). This should create a large free trade area that covers around 30% of the world’s gross domestic product, trade. And the population.

Panitan Watanayagon, chairman of the Thai Prime Minister’s Security Advisory Council, said RCEP marked “the beginning of a new era of China-ASEAN relations.” He said this would be the future of trade and investment not only for Southeast Asia but also for the world.

Chheang Vannarith, president of the Phnom Penh-based Asiavision Institute, said RCEP will encourage regional trade and investment to further reduce trade barriers, expand integrated regional markets and strengthen supply chains. regional. ..

Zhao Feng, vice chairman of SAIC Motor Group, a joint venture between Shanghai-based SAIC Motor Group and Thai conglomerate CP Group, said: Once the agreement comes into effect, it will facilitate the import and export of l business, will reduce operating costs and minimize risk.

Produced by Xinhua Global Services



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GT Voice: China in a better position to mitigate the impact of US tariffs https://ksupradio.com/gt-voice-china-in-a-better-position-to-mitigate-the-impact-of-us-tariffs/ Sun, 18 Jul 2021 13:17:40 +0000 https://ksupradio.com/gt-voice-china-in-a-better-position-to-mitigate-the-impact-of-us-tariffs/ Illustration: Tang Tengfei / GT U.S. Treasury Secretary Janet Yellen is perhaps the most senior official in the Biden administration to criticize U.S. tariffs that remain in place on Chinese imports. “The tariffs are taxes on consumers. In some cases it seems to me that what we have done is hurting American consumers,” she told […]]]>


Illustration: Tang Tengfei / GT

U.S. Treasury Secretary Janet Yellen is perhaps the most senior official in the Biden administration to criticize U.S. tariffs that remain in place on Chinese imports. “The tariffs are taxes on consumers. In some cases it seems to me that what we have done is hurting American consumers,” she told The New York Times in an interview published Friday.

Yellen’s comments came as the Biden administration still left tariffs the previous administration imposed on China intact. Just as U.S. Trade Representative Katherine Tai suggested in an interview in March that tariffs could be used as “leverage” in potential trade negotiations with China, the Biden administration can sincerely believe it is fighting for it. get a better trade deal with China.

In reality, tariffs can backfire on the US economy. Whether the Biden administration maintained tariffs for economic or political purposes, one of the consequences of these high taxes on imported goods has been an increased burden on low-income businesses and households. In addition, there are growing concerns that inflation which accelerated in June at the fastest rate in 13 years could jeopardize a sustained economic recovery in the United States from the pandemic.

The Biden administration must accept that continuing to apply tariffs against China will not gain Washington any concessions from China, but will only inflict more damage on domestic businesses and the economy in general. A study commissioned by the US-China Business Council said in January that the trade war caused the loss of 245,000 jobs in the United States, but a gradual reduction in tariffs on both sides would spur growth and create 145,000 additional jobs in the United States. ‘by 2025, according to media reports.

On the other hand, it should also be noted that China has an increasingly strong initiative to mitigate the impact of US tariffs on its economy.

China has pursued an export-oriented growth strategy in the past, but circumstances have changed. While the central government has repeatedly pledged to make domestic consumption a more important engine of economic growth, exports have declined as a percentage of GDP in recent years. Last year, the “dual circulation” strategy became the most recent of China’s economic guidelines. While keeping China open to world trade under “international circulation”, this requires building a stronger domestic consumer market under “internal circulation”, with the aim of making the Chinese economy more resistant to external shocks.

Of course, there are potential hurdles ahead, but China has an advantage in a prolonged standoff against the United States, with its strong economic power continuing to grow. As long as the adjustment of excessive dependence on foreign trade to improving domestic demand continues, China will not be at a disadvantage, but will have a stronger initiative in its economic relations with the outside world.

In short, China is poised to become the world’s largest consumer market under the “dual circulation” strategy. The more resilient the Chinese economy, the more doomed will be to Washington’s efforts to harm bilateral trade.



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Tanzania: Samia in Burundi to cement trade and diplomatic relations https://ksupradio.com/tanzania-samia-in-burundi-to-cement-trade-and-diplomatic-relations/ Sat, 17 Jul 2021 18:17:41 +0000 https://ksupradio.com/tanzania-samia-in-burundi-to-cement-trade-and-diplomatic-relations/ Tanzanian President Samia Suluhu Hassan landed at Melchior Ndadaye International Airport in Bujumbura on Friday for a two-day official visit during which she is expected to introduce her country as an investment destination and sign bilateral trade agreements. This is her first visit to Burundi as President, after attending the funeral of former President Pierre […]]]>


Tanzanian President Samia Suluhu Hassan landed at Melchior Ndadaye International Airport in Bujumbura on Friday for a two-day official visit during which she is expected to introduce her country as an investment destination and sign bilateral trade agreements.

This is her first visit to Burundi as President, after attending the funeral of former President Pierre Nkurunziza last year. The Tanzanian leader was received by the Burundian vice-president Prosper Bazombanza.

The two presidents held a closed-door meeting at Maison Ntare in Bujumbura before addressing the press in the afternoon. President Évariste Ndasyihsimiye said he had agreed on exchange programs in the fields of agriculture and livestock, and in services, mainly in the teaching of Kiswahili and French.

The Burundian fertilizer company Itracom is said to be opening a plant in Tanzania, where it has invested $ 180 million.

President Samia touted the trade ties between the two countries, noting that bilateral trade has grown from $ 35 million in 2015 to more than $ 86 million in 2019.

“This is not enough, because we want to increase trade between the two countries,” she said.

Burundi is heavily dependent on the port of Dar es Salaam and the Central Corridor for imports and exports of goods. Last year, 476,000 tonnes of Burundian goods passed through the port of Dar es Salaam. President Samia said her country had already allocated 10 hectares to a dry port in Kwala, in Tanzania’s coastal province, for Burundians to use to transport goods.

In September last year, when President Ndayishimiye made his first official visit outside the country, he met the late President John Magufuli in Kigoma, Tanzania, where they agreed to build a railroad. narrow to transport nickel from Burundi. The railway should go from Uvinza to Gitega via Musongati. The largest nickel deposits are in Kabanga, in the Ngara district in Tanzania and in Musongati in Burundi.

The two governments set up a permanent commission which was to meet and study the modalities of implementation of the project.

“We have agreed on the construction of roads and railways from Uvinza-Musongati and Gitega, so we asked our finance ministers to find funds to carry out these operations,” said the Minister of Finance. Tanzanian president, adding: “With these minerals in both countries, we can come together and build a bigger market.”

Burundi has 231 metric tonnes of proven nickel reserves across the country at Nyabikere (46 MT), Waga (35 MT) and Musongati (150 MT). Last year, the two governments agreed to build a nickel refinery. Burundian minerals traders have been granted access to use the Kigoma mining market in western Tanzania.