China will take more measures to lower tariffs and diversify imports “from around the world,” President Xi Jinping said during a speech to open China’s international trade fair on Nov. 5. Xi said the country plans to continue expanding market access to foreign companies and is focusing on increasing its imports. “China will give greater importance to import. We will continue to lower tariffs and institutional transaction costs, develop demonstration zones to promote import trade by creative means, and import more high-quality goods and services from around the world,” Xi said.
A Chinese Foreign Ministry spokesperson was critical of the U.S.’s Nov. 4 decision to impose sanctions on Iranian military and government officials (see 1911040028), saying the U.S. should instead turn to negotiations. “China opposes unilateral sanctions and so-called ‘long-arm jurisdiction,’” the spokesperson said during a Nov. 5 press conference. “Arbitrary sanctions or threat of sanctions cannot solve problems.” The spokesperson urged the U.S. to begin a “dialogue” to “resolve disputes.” The spokesperson also said that U.S. and Chinese negotiations are progressing well and the two sides “keep in contact,” but declined to say when the next meeting will take place. “The trade talks have achieved progress and are now moving forward as planned,” he said.
Singapore will eliminate its remaining import restrictions on food produced in Japan’s Fukushima region, Japan said Nov. 4, according to an unofficial translation of a Ministry of Foreign Affairs release. Japan said Singapore considered “the safety measures Japan has taken so far,” including the pre-export inspection of food.” The announcement came as Japan implores countries to reduce restrictions created to guard against possible food-related radiation contamination from Japan’s Fukushima nuclear power plant disaster in 2011 (see 1911010030).
Indonesia issued a guidance clarifying its import duty and value-added tax exemptions for certain imports that fall under certain contracts, KPMG said in a Nov. 1 post. Indonesia clarified that its exemptions apply to imports under “contracts of work” or “coal contracts of work,” the post said, and provide exemptions and reductions of import duties and exemption of import VATs. Indonesia bans any transfers, re-exports or destruction of goods imported under the measures until two years have elapsed from the import date, the post said, and requires importers to first receive approval from Indonesian customs and other agencies. Violations may result in import duties, VATs and further penalties.
China and New Zealand agreed to upgrade their free trade deal to improve customs facilitation, remove trade barriers and revise rules of origin procedures, China’s Ministry of Commerce said Nov. 4. China said both countries will “benefit from improved rules,” adding that the deal also includes measures on e-commerce, competition policy and increased market access for certain goods. “These results reflect the desire of both countries to ensure that the China-New Zealand FTA remains ambitious, modern and high quality … and demonstrates the commitment of both countries to free and open trade and a rules-based multilateral trading system,” China said.
An agreement on the 16-nation Regional Comprehensive Economic Partnership (RCEP) will be signed in 2020, Thailand said, despite some countries’ hope that it would be finalized this year. Thailand, which chairs the Association of Southeast Asian Nations, said in a Nov. 3 statement that the parties are committed to signing the deal by February, according to a Nov. 3 Reuters report. The statement came after several calls for the deal to be completed this year, including from China and Japan (see 1904180052).
Singapore’s TradeNet will be down for maintenance from 4 a.m. to noon Nov. 17, Singapore Customs said in an Oct. 30 notice. Singapore is asking traders not to submit applications during that time period.
Japan implored countries to drop restrictions on Japanese food imports from Fukushima, saying the restrictions are hurting its farmers. Several countries, including South Korea, have imposed measures to guard against possible radiation contamination from food imported from Fukushima, which was the site of a nuclear power plant that was damaged by a tsunami in 2011.
China will hold an import fair in Shanghai this week to showcase Chinese companies, trade policies and address criticism of trade restrictions amid U.S.-China trade negotiations. China said more than 190 U.S. businesses will attend, an 18 percent increase from the previous year, even as U.S. officials are opting to skip the event. A U.S. embassy spokesperson said no senior officials plan to attend, according to Reuters.
Indonesia is preparing safeguard policies for textile imports to protect its domestic textile industry, the country’s Ministry of Trade said Oct. 31, according to an unofficial translation. An Indonesian trade official said the safeguard policies may include both temporary and permanent measures and suggested the country is close to imposing them, saying the Trade Ministry has “finished” deliberations on the measures. The safeguard could be “quite suppressing” for imports to the textile industry, Indonesia said.