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.
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.
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.
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.”
Japan is creating a “Brexit Service Desk” to support the country’s small and medium-sized companies operating in the United Kingdom after the U.K. leaves the European Union, Japan’s Ministry of Economy, Trade and Industry said in an Oct. 4 press release, according to an unofficial translation. The service desk will be run by 200 “staff and specialists,” the release said, and will provide “individual consultations” to Japanese companies to help them understand the “latest information on local laws and regulations” for “smooth business.”
Laos removed inspection checkpoints along main roads from its largest province to “expedite the movement of freight transport,” according to an Oct. 3 report from the Hong Kong Trade Development Council. The checkpoints, removed from the Savannakhet province, were slowing down cargo movement, serving as “an additional layer of red tape” and were used by local officials to impose “informal fees” on freight companies, businesses told the Laos government, HKTDC said. Although “general inspections” have been eliminated, certain Laotian officials can still inspect freight transport vehicles if they suspect illegal activity, the report said.
Japan’s legislature will review the U.S.-Japan trade agreement today, Japan’s foreign minister told Nikkei, adding that Japan has “no objections” to the deal taking effect Jan. 1, 2020.