Japan’s trade minister said there are still “some issues” that need to be worked out during negotiations for the Regional Comprehensive Economic Partnership despite progress being made, according to an unofficial translation of an Oct. 11 press conference.
Japanese and South Korean officials will meet in Geneva today to address South Korea’s World Trade Organization dispute over Japan’s export restrictions, Japan’s Ministry of Economy, Trade and Industry said. Ahead of the meeting, Japan reiterated that its export control measures on certain shipments to South Korea, which took effect last month (see 1909090041) are necessary to protect Japan’s export control system. “The update is necessary … to prevent the proliferation of weapons such as nuclear, chemical and biological weapons and their means of delivery,” the country said. “Japan will make clear that the update is WTO-consistent.”
Singapore and Indonesia signed an agreement to link the countries’ National Single Windows to better “facilitate and secure trade,” Singapore Customs said in an Oct. 8 press release. The agreement on “electronic data exchange” aims to promote a “seamless, paperless and secure business environment” for trade, Singapore said. Benefits will include expedited clearance and improved supply chain security, the press release said. Singapore also said the agreement will lead to a “seamless and more efficient declaration process and ... greater ease and facilitation when trading between Singapore and Indonesia.”
China’s State Council adopted a draft regulation on Oct. 8 to improve the country’s “business environment” by easing market access, simplifying tax procedures and other measures, according to an Oct. 9 report by Xinhua, China’s state-run news agency. China stressed that “government services should be enjoyed with unified criteria by all types of market players on an equal basis” for both “domestic and foreign companies.”
Hong Kong’s Trade and Industry Department released its exemption process for “air trans[s]hipment cargo of specified strategic commodities” for 2020, Hong Kong said in an Oct. 8 notice. The TID is inviting “eligible parties” -- including carriers, airlines, ground handling agents and freight forwarders -- to apply for the exemptions by Nov. 8. The exemption scheme will waive certain license requirements and will issue applicants a “Certificate of Exemption” valid until Dec. 31, 2020, the TID said.
Certain manufacturers in China are eligible for value-added tax refunds for the filing period that began July 1, 2019, “and for subsequent filing periods,” according to an Oct. 8 report from the Hong Kong Trade Development Council. The move is aimed to boost the development of China’s advanced manufacturing industries, the report said. The refund can be used by companies with a majority of total sales coming from “non-metal mineral products, general equipment, special equipment, computers, communications and other electronic equipment,” the HKTDC said.
South Korea and Kyrgyzstan will increase trade and diversification in certain sectors to “resolve trade imbalance,” the two sides agreed during an Oct. 4 meeting, according to an unofficial translation of a South Korean press release. During the meeting, South Korea also requested that Kyrgyzstan “make efforts to create business-friendly environment in order to increase investment by” South Korean companies.
Vietnam and Britain signed a memorandum of understanding on customs cooperation to increase customs training and promote trade, according to an Oct. 6 report in CustomsNews, the self-described “mouthpiece” of Vietnam Customs. The agreement, which includes “support, technical exchange, information exchange and training,” will lead to the “enhancement of trade relations between the two countries,” the report said. The agreement will also help Vietnam address transnational crime and involve training sessions on “searching ships, identifying key containers and managing intelligence,” the report said.
Japan is asking domestic companies for feedback as it looks to align its regulations with international rules in advanced technology sectors and other “new services,” the Ministry of Economy, Trade and Industry said in an Oct. 7 press release, according to an unofficial translation. Standardization will play a “major role” in “strengthening the international competitiveness of Japanese industries,” it said.
Singapore Customs’ TradeNet will undergo maintenance from 4 a.m. to noon on Oct. 20, it said in an Oct. 3 notice. During the downtime, the only applications that will not be processed are those involving “amendment, cancellation, refund and stock related permit applications,” the notice said. Singapore is advising traders to submit applications before Oct. 20 “to minimise disruptions to your business operations.”