APR News

Korea Brand & Entertainment Expo (KBEE) 2018 Moscow will be held at “Crocus Expo” and “Crocus City Hall” on May 14-15, 2018. KBEE is a large exhibition, organized by Ministry of Trade, Industry and Energy of the Republic of Korea and Korea Trade Investment Promotion Agency (KOTRA). The organizers expect the event to enhance trade and economic relations and pave the way for new business opportunities.
Besides cultural and entertainment elements of the event, it includes an exhibition with 100 Korean participants. They represent companies, engaged in various fields, e.g. manufacturing of cosmetics, household chemicals, foodstuffs, clothing and accessories and providing medical tourism services.

The new chief of the nation's trade promotion agency said, on April 2, 2018, he will help small- and medium-sized companies tap into global markets and Koreans find jobs overseas.
"The way to expand export through heavy reliance on a few major business groups' shipments has reached its limit, so we need to change the paradigm focusing on income-led growth and human-centered economic progress," said Kwon Pyung-oh, president of the Korea Trade-Investment Promotion Agency (KOTRA).
"At this point, export expansion by innovative small- and medium-sized enterprises (SMEs) is regarded as the best measure to increase export and create jobs."
The 60-year-old added KOTRA is set to support 5,000 SMEs committed to exports and find 20,000 jobs for young Koreans in other countries every year.

The East Coast Rail Link (ECRL) stretching 688km will be among key elements in boosting Malaysia's economy as it gives a competitive edge, as well as attract foreign investments, especially from China, Former Transport Minister Tan Sri Ong Tee Keat said.
Ong, who is also Malaysia-China Silk Road Business Chamber Chairman, said the ECRL is not absolutely new idea it was planned way back in 1980s and revisited in 1999.
He said being part of China's Belt and Road Initiative (BRI), the ECRL would provide greater opportunity for the economic growth of the country, especially for the east coast states of Peninsular Malaysia.
The rail link - scheduled for completion in 2024 - would connect Port Klang in Selangor to Pengkalan Kubor in Kelantan, cutting across Pahang and Terengganu.
The revenue from the ECRL operations is projected to be obtained through a transportation ratio of 30 per cent passengers and 70 per cent freight.

Business confidence has increased among foreign direct investment (FDI) companies in Vietnam, according to a survey conducted by the Vietnam Chamber of Commerce and Industry (VCCI).
The survey results showed that 13.2% of the firms increased their investment capital and 60% of them plan to scale up their business operation in Vietnam, which are much higher than the 2016’s figures of 11% and 50%.
Professor Edmund Malesky from the US-based Duke University affirmed that this is the greatest optimism in the FDI sector since 2011, attributing the results to the Vietnamese Government’s policies to reduce the burden on FDI companies. Online registration to set up business has been put forth while required documents have been slashed down.

On 3 April 2018, Office of the United States Trade Representative issued the Notice of Determination and Request for Public Comment Concerning Proposed Determination of Action Pursuant to Section 301: China’s Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property, and Innovation.
According to the document, on 15 May 2018 the Section 301 Committee will convene a public hearing on practices of the Government of China covered in the investigation are unreasonable or discriminatory and burden or restrict U.S. commerce.
Before 23 April 2018ы the interested persons need to fill requests to appear and a summary of expected testimony at the public hearing.

On 31 March 2018, Wang Yi, Minister of Foreign Affairs of the PRC, delivered a speech on the sidelines of the 6th Greater Mekong Sub-region (GMS) Summit. The Minister noted that the six GMS member countries, namely China, Vietnam, Laos, Thailand, Myanmar and Cambodia, showed a strong momentum of growth.
Minister admitted China’s commitment to opposing protectionism and encouraged the partners to foster integration processes and liberalize trade and economic cooperation. Among the promising mechanisms he mentioned cross-border economic cooperation zones and new industrial parks. Wang Yi underlined that the parties need to develop digital economy, sharing economy and e-commerce.

APEC Business Advisory Council (ABAC) prepared a draft of annual recommendations for the APEC Ministers Responsible for Trade. The document contains five key business recommendations aimed at promoting sustained growth, development and higher living standards in the region.
Of deepest concern to the business community is a rise in protectionism. ABAC recommends that Ministers continue to promote open markets for trade in goods, services and investment flows. At the same time, the ABAC members believe it is imperative that governments and business get on the front foot with real and meaningful measures that promote inclusiveness and the sharing of the benefits of economic growth.
As representatives of businesses in the region, the ABAC members acknowledge their responsibility to establish business models that address issues of inclusion wherever possible, including measures to better engage with work forces in transitions to new business models and retraining and upgrading skills of our workers. They call on Ministers to introduce policies that support an inclusive trading environment and take advantage of productivity gains that can be generated by increasing digitization and innovation. They also call on Ministers to implement measures that will facilitate the integration of small and medium enterprises into domestic and global supply chains.

Myanmar is blessed with abundant natural resources such as fertile land and water resources which provide the right environment for agribusiness development and domestic food production.
The purpose of the exhibition is to bring the industry together by offering a tradeshow floor with over 250 exhibits featuring machinery, equipment, supplies, services and other vendors with innovative products for the industry.
Last year, more than 9,000 visitors attended Myanmar International Agricultural and Food Industrial Exhibition, more than 230 exhibitors from over 13 countries and regions participated in the exhibition.

Business cooperation between Vietnam and Belarus will be further developed following trade deals inked between the two sides in the northern province of Hung Yen on March 29, 2018 in the presence of Belarusian Deputy Prime Minister Vladimir Semashko.
A US$60 million deal on supplying trucks and specialised cars and memorandum of understanding on establishing a dairy plant in the province were signed on the day.
Joining in free trade agreements has opened up opportunities for collaboration between the two countries, Deputy PM Semashko said, recommending that Belarus and Vietnam should set up more joint ventures based on the principal of mutual benefits.
The Belarusian Government chose Hung Yen as the location for MAZ Asia joint venture to manufacture and assembly automobiles and the dairy plant, he said, adding that it is considering the construction of a bus assembling factory in the province.
Secretary of the provincial Communist Party Committee Do Tien Sy lauded Belarus’s socio-economic achievements, especially in automobile industry, agriculture and dairy and farm produce processing, expressing his hope that Belarus will land more high-tech projects in the province to boost its development.

The hosting of ASEAN Power Grid Summit 2018 (APGS 2018) with its overarching theme, ‘Enhancing ASEAN Power Grid (APG) Investment towards Regional Energy Optimisation’ is timely in addressing pertinent and relevant issues in foregrounding the potentials of power sector of ASEAN countries and attracting more Foreign Direct Investments (FDI) into ensuring the success of meeting the rising energy demand and translating that into successful connections of power grids in ASEAN member states.