► Harmonisation and diversity in the age of globalisation

In pursuit of the Millennium Development Goals, the heads of multilateral and bilateral development institutions, and representatives of other financial institutions and partner countries gathered in Rome, Italy in February, 2003 to deliberate on ways and means of how to increase aid effectiveness. That was the High-Level Forum on 'Harmonisation'. Their deliberations were part of an international drive to harmonise the operational policies, procedures, and practices of their institutions with those of partner country systems to improve the effectiveness of development assistance.  (Business Recorder,  Pakistan)

► Changes required in anti-dumping law

The WTO Agreement focuses on the liberalisation and openness in trade whereby the trade regulatory and protectionist measures have been eliminated. Trade defence mechanisms have been included as a balancing factor to protect domestic producers from unfair trading practices of foreign competitors. Among the trade defence instruments allowed to WTO member countries, Anti-dumping measures relate to dumping i.e. supplying to a foreign market at less than fair value is seen as militating against fair trade and therefore as anti-competitive.  (The News,  Pakistan)

► India asks developed nations to end protectionism

India has asked rich nations to end protectionism, which costs developing countries $700 billion a year in export income, if the world is to meet the Millennium Development Goals (MDGs) aimed at eliminating or sharply reducing several social and economic ills by 2015. Decrying increase of subsidies by the developed countries in some sectors, India's UN Ambassador Nirupam Sen asserted that the problem is not lack of resources but little stomach for structural changes.  "We need what (the 19th century German philosopher Friedrich) Nietzsche called 'capital of spirit and will,'" he told the 192-member General Assembly yesterday while participating in the review of implementation of the MDGs, which were set in 2000.  (Economic Times, India )

► Re-industrialising Pakistan under globalisation

Economic globalisation affects both local and global systems of wealth creation and distribution. The effects can be witnessed in micro-realities of workers searching new modes of livelihoods to make for the lost ones while macro-realities are manifested in processes of stat industrialisation in many developing countries. However, there is an enormous variety of debates around dynamics of economic globalisation and possible policy responses. This article identifies competing perspectives related to industrialisation under economic globalisation. While arguing for a central role of state in industrial development coordination.  (Business Recorder,  Pakistan)

► Trade deal with China waiting for Sri Lankan business

Sri Lanka is looking to increase trade with China through a regional trade deal. The Commerce Department says the Asia Pacific Trade Agreement, or the APTA, is a window into the massive Chinese market. The department is now getting ready to hold talk with local businesses, to improve on existing concessions from China. China has already expressed interest in expanding trade with Sri Lanka. “China is a huge market. This year, we will import nearly one trillion dollars worth from the rest of the world. So there are many, many opportunities for Sri Lanka to trade with China,” Zhu Hong, from the Department of International Trade.  (Sunday Times,  Sri Lanka)

► Pakistan, Mauritius to form trade body

Pak-Mauritius Joint Working Group has endorsed the establishment of a joint trade committee of officials as well as a joint committee of customs officials in order to facilitate implementation of the Preferential Trade Agreement (PTA). The Pak-Mauritius Group, in its seventh round of talks which started here on Wednesday, reviewed the progress on implementation of the PTA, signed on July 30, 2007 and became operational on November 30 the same year. Commerce Secretary Syed Asif Shah, during his meeting with International Trade and Foreign Affairs Secretary  (The News,  Pakistan)

► Abbasi promises continuity of policies with review

Shahid Khakan Abbasi, Federal Minister of Commerce hinted review of the Trade Policy and said that his ministry would ensure continuity of policies with review for enhancement of country’s exports. After taking the oath and attending the first briefing at the Ministry of Commerce, the newly appointed Commerce Minister informed a selected group of reporters that the new government would ensure continuity of policies with review for growth in exports.  (Bilaterals.Org)

► India agrees to supply rice to crisis ridden Sri Lanka

Heeding to Sri Lanka's appeal, India has agreed to supply one lakh tonnes of rice to the island nation on the back of a ban imposed by it on exports of non-basmati rice to curb rising inflation. "We are very happy. We also want to thank Sri Lankan President Mahinda Rajapaksa who took up the matter with India and they have agreed to supply one lakh tonnes of rice immediately," a leading importing body Old Moor Street Traders Association President K Palaniandy said. Over 15,000 hectare of paddy crop in Sri Lanka were damaged following unprecedented floods in the island nation.  (Economic Times, India )

► Ban on rice exports to India sought

Indian rice importers are placing big orders with their Pakistani counterparts in order to replenish their depleting stocks to meet their international and domestic commitments. However, rice exporters and traders apprehend that if the government does not immediately impose a ban on rice export to India it will not only create shortage in the domestic market but would also trigger renewed price spiral, which has already witnessed 200 per cent increase in a year. The reason for rush of orders from the Indians is the recent move by their government to further enhance minimum export price.  (Dawn,  Pakistan)

► Chinese subsidy cut to help Pak textile

Chinese textile industry is now facing major problems as the Chinese government has slashed subsidy to the industry from 18 per cent to 5 per cent, which will help Pakistan in competing with its major regional rival, Asif Ali Rashid, CEO of Almurtaza Machinery told The News. Almurtaza Machinery Company (AMCL) would display latest embroidery machines in the 5th Textile Asia International Exhibition scheduled from April 4 to 7 at the Karachi Expo Centre, the CEO said at the company’s head office at Shahra-e-Faisal. This year, Almurtaza is featuring Tajimas Sequin Device II, a twin device which is the first of its kind.  (The News,  Pakistan)

► Pakistan exporting sugar to Bangladesh 

Pakistan has planned to export about 250,000 tonnes of sugar to some South Asian countries, including Bangladesh, and Middle East, according to a Pakistani newspaper report. Pakistan entered the world sugar market in January 2008 after a gap of five years. Pakistan struck its first deal to export the sweetener in early 2008 by selling 1,000 tonnes of sugar to Sri Lanka and has been ramping up overseas sales since then. "Mills have so far contracted to export 150,000-200,000 tonnes of sugar from the new season," Ahmed Ebrahim Hasham, a director at Mehran Sugar Mills Ltd, said.  (The Financial Times,  Bangladesh)

► Seafood exports from India registers 12 pc fall

The rupee appreciation and the raw material crunch has affected seafood exports from India with provisional figures indicating a 12 per cent fall in exports from April 2007 to February this year. Quantity wise the fall is likely to be 16 per cent and value wise, 12 per cent. The fall in dollar value is one per cent, sources in the Marine Products Export Development Authority (MPEDA) said.  About 4,75,200 tonnes of seafood was exported during the 11 months from April last year, fetching Rs 6770.52 crore for the country. In dollar terms, it was $1684.64 million.  (Economic Times, India )

► India, Myanmar inks double taxation avoidance treaty

India and Myanmar have signed the Double Taxation Avoidance Agreement, which will enable both nations to prevent tax evasion and ensure that business profits are taxed only in the country where the company has a permanent establishment.  The agreement aims at avoidance of double taxation and the prevention of fiscal evasion with respect to income on taxes.  The Double Taxation Avoidance Agreement (DTAA) would cover income-tax and surcharge in the case of India and income tax and profit tax in the case of Myanmar, a Finance Ministry statement said.  (Economic Times, India )

► Inflation and energy crisis targeted Pakistan

Pakistan is facing a number of constraints in the path of social economic and political development. One of them is the ever-increasing inflationary pressure on the general public. This inflationary pressure created a social instability and misconception among the messes towards the Government. General public considers the government responsible for this inflation. Government gave the blunt gift of inflation, unemployment, terrorism and energy crisis to the public. The government offended the masses. Some economists argue that such type of increase in prices was never seen before the regime of Musharaf.  (The Nation,  Pakistan)

► Qureshi hints at reassessing no-Indian investment policy

Pakistan's new government may "assess" whether the country's 60-year-old policy of no investment from India was in its national interests, Foreign Minister Shah Mehmood Qureshi has indicated.  "We could not develop trade relations with India to the optimum potential. You cannot ignore the fact that a huge (amount of) trade is being carried out through third parties. We have been pursuing a policy of no investment from India for the last 60 years," Qureshi said in an interview .  (Economic Times, India )

► Qatar to invest in Pakistan

Sheikh Ali Bin Abdullah Al-Thani, a member of Qatar Royal Family and chairman Board of Directors of Pak-Qatar Family Takaful and Pak-Qatar General Takaful, has said that his country would further invest millions of dollars in different projects in Pakistan. While chairing the annual general meetings of these companies in Doha recently, he pointed out that Pakistan offers tremendous returns on investment. According to a statement issued here on Wednesday, the meetings were attended by a large number of shareholders.  (Dawn,  Pakistan)

► US embarking on global energy ties with India

Undaunted by the Indo-US civil nuclear deal getting stuck in political imbroglio, the US on Thursday said it is embarking on new areas of global energy cooperation with India, while Washington favours transfer of clean technologies to other countries. Addressing a Roundtable on US-India Energy Dialogue, Under Secretary in the US Energy Department C A Bud Albright said the private sector is a key player in technology development and the licensing policies of the Bush administration encourage transfer of clean technologies by American companies to other countries.  (Economic Times, India )

► ADB projects Nepal's growth rate at 3.8%

ADB has projected the annual growth rate for Nepal - at 3.8 percent this year which is lesser than the projection of government and the United Nations (UN).  In its annual report published in Kathmandu Wednesday, ADB said that the growth rate would be marked by the rising inflation, which it said would remain at 7 percent.  However, the projection is based on assumption that the peace process would go smoothly and Nepal will attain political stability after the Constituent Assembly (CA) elections scheduled for April 10.  While the bank highlighted the importance of agriculture in economic development in Asia.  (English People Daily,  China)

► IMF approves 217.7mln dollars emergency assistance for Bangladesh

The International Monetary Fund (IMF)executive board approved about 217.7 million U.S. dollars in emergency assistance for Bangladesh, according to an IMF release issued from Washington on April 2 and reached here on Thursday. The move is to assist the Bangladeshi government's efforts to deal with the impact of severe damage from cyclone Sidr that battered the country on Nov. 15 last year. IMF says cyclone Sidr and two preceding floods last year resulted in thousands of deaths and disrupted the lives of millions of people in Bangladesh.  .  (English People Daily,  China)

► South Asian Tax Summit on 15th

Nutshell Forum and the Income Tax Bar Association Karachi (ITBAK) will organise a South Asian Tax Summit here on April 15 and 16. The theme of the summit is ‘Regional Cooperation for Economic Development: Vision 2020.’ The Federal Board of Revenue (FBR), South Asian Federation of Accountants (SAFA), Federation of Pakistan Chambers of Commerce & Industry (FPCCI), All Pakistan Tax Bar Association (APTBA), Society of Certified Management Accountants of Sri Lanka and Asia Oceana Tax Consultants Association (AOTCA) are the strategic partners in the summit.  (The News,  Pakistan)

► WTO calls off Doha trade meeting planned for April

World trade ministers have called off a meeting planned here for this month in the absence of sufficient progress toward a global trade liberalisation deal, a source close to the talks said on Friday.  But he added that some headway had been made in discussions on reducing barriers to agricultural trade, making a ministerial meeting possible in May. Negotiations aimed at securing a preliminary agreement on trade in agricultural and industrial products have not advanced as much as had been hoped at the start of the year, he said.  (Economic Times, India )

► 'India-Africa summit will boost South-South cooperation'

The numerous initiatives being undertaken by India and Africa to expand multi-sectoral relations should also include the possibility of New Delhi writing off debt owed to it by poor countries from the continent, a South African official said today. Commenting on the inaugural Africa-India Partnership Summit to be held in New Delhi, Foreign Affairs spokesperson Ronnie Mamoepa hoped that the summit will provide a platform to further strengthen the South-South cooperation.  South African President Thabo Mbeki and Foreign Minister, Dr Nkosazana Dlamini-Zuma will represent the country at the three-day summit.  .  (Economic Times, India )