China’s expansion of its Shanghai Free Trade Zone could serve as a model for similar schemes in other zones across the country if it is successful, according to an Aug. 13 post from Dezan Shira & Associates. The recently approved plan includes "pioneering" policies in the newly incorporated Lingang area that are more than just a “simple expansion,” the post said. The expansion will double the size of the original Shanghai zone and will “facilitate freer activities in trade, investment, finance, talents, and information” in the new area of the zone, according to the post.
Japan’s Ministry of Economy, Trade and Industry is introducing a system to simplify exports and imports of “cargo for scientific research purposes between scientific institutions,” Japan said in an Aug. 13 notice, according to an unofficial translation. Japan is allowing certain export and import exemptions for “designated animals and plants” under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), the notice said. Scientific facilities using these exemptions will need to create an “import/export management system” to qualify for approval certificates, which will be valid for three years, Japan said. The changes will take effect in October.
Shenzhen, a major city outside Hong Kong, introduced nearly 40 measures to improve the Qianhai-Shekou Area of China’s Guangdong Free Trade Zone, including “boosting trade facilitation,” according to an Aug. 13 report from the Hong Kong Trade Development Council. Changes include more “support” for “cross-border RMB business services,” referring to renminbi (RMB) as the currency, within the trade zone, the report said.
Vietnam Customs issued guidance on requirements for used machinery imports, the country’s customs mouthpiece, CustomsNews, said Aug. 11. The guidance includes additional information on which types of machinery imports are permitted, requirements for when a company must submit their business registration and a description of information that must be included in customs documents. Vietnam said it is also requiring customs import dossiers to include original certificates from the item’s manufacturer and the year it was manufactured. Vietnam banned certain imports of used machinery in June (see 1905030051).
A new China-Europe freight train launched last week that will help exports from China’s Sichuan province to Europe and boost foreign trade, China’s State Council Information Office said Aug. 12. The train, carrying more than “30,000 parcels” worth about $70 million, is the “first of its kind” between the city of Chengdu and Budapest, China said. The train is a “significant part” of China’s Belt and Road Initiative, the State Council said, and should increase trade between China and Europe.
President Donald Trump urged Japan and South Korea to settle their trade dispute and said it is putting the U.S. “in a very bad position.”
South Korea is trying to increase domestic production of “key materials and parts” to reduce its reliance on trade with Japan, according to an Aug. 9 South Korea Ministry of Trade press release. Sung Yun-mo, South Korea’s Minister of Trade, Industry and Energy, met with state-run research institutions on Aug. 8 at the Korea Institute of Chemical Technology to discuss how the country can increase production. The meeting comes amid a trade dispute between Japan and South Korea in which Japan announced export restrictions on three chemicals used for the manufacturing of smart chips and other technologies.
India is considering raising import taxes on “green energy equipment” in an effort to give Indian manufacturers and companies an advantage over cheap imports, according to an Aug. 9 report from the India Brand Equity Foundation. China has “commanded” the market for solar components, the report said, which prompted India to impose in July 2018 a “safeguard obligation” on solar cells and modules imported from China and Malaysia. But India is considering strengthening those measures, the report said, citing Anand Kumar, secretary of India’s Ministry of New and Renewable Energy.
Vietnam Customs recently issued guidance to its provincial departments on validation of certificates of origin under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to an Aug. 8 report in CustomsNews mouthpiece. The guidance includes some additional criteria for each of the nine minimum data elements required for CPTPP certificates of origin under Annex 3-B of the agreement.
Pakistan will suspend bilateral trade with India, the country’s Press Information Department said in an Aug. 7 press release. The move follows India’s decision to end Jammu and Kashmir’s special autonomous status under the Indian constitution.