Search Result for : Asean

The Dollar Business Bureau President of Vietnam, Tran Dai Quang extended invite to business communities in India to invest in Vietnam and said that his country offers conducive environment and sustainable development. “India continues to be among Vietnam’s top ten trading partners as the bilateral trade turnover has increased 16% per annum on average in the past decade,” the Vietnamese President said while addressing a business meeting jointly organised by ASSOCHAM, CII and FICCI in New Delhi on Saturday. “India has given priority to Vietnam in development cooperation and education and training, and paid attention to promoting bilateral cooperation in science and technology, information and communication, energy, oil and gas, agriculture and tourism,” he said. “India has actively supported Vietnam in training, capacity building, ...

The Dollar Business Bureau Finance and Corporate Affairs Minister Arun Jaitley said on Wednesday India and ASEAN nations represent an aspirational world in the times when the world is looking inwards. “One of our greatest challenges today is that the world has increasingly started looking inwards,” Finance Minister said while speaking at the ASEAN-India Business Meet and Expo organised by Confederation of Indian Industry (CII) in cooperation with the Finance Ministry and External Affairs Ministry. “In such protectionist times, India and the ASEAN nations represent an aspirational world which represents about 2 billion people,” he added. Jaitley pointed out that India as well as ASEAN were growing fast at a time when the world was slowing down. The two regions represent areas which were ...

The Dollar Business Bureau In order to protect the interests of local pepper growers, the Government has cleared a proposal from the Spices Board to impose a minimum import price (MIP) of Rs.500 per kg on the spice. “The Ministry of Commerce and Industry has approved the proposal of the Spices Board for fixing the CIF value of Rs.500 per kg as MIP for pepper to protect the interests of pepper growers,” said an official statement. In recent times, decline in the domestic pepper price due to cheaper import of pepper from other origins has been a major concern among pepper growers, it said. The prices of pepper have declined by nearly 35% in a year and have led to a lot of hardship ...

The Dollar Business Bureau Prime Minister Narendra Modi said on Monday that most of the sectors of Indian economy are now open for foreign investment and out of that over 90% are on automatic approval route. “Most of the sectors of our economy are now open for FDI. More than 90% FDI sectors are on automatic approval route,” Modi said at the ASEAN Business & Investment Summit in Manila (Philippines). “India has emerged as a front-runner in attracting FDI. Compared to last three years, we have received 67% more FDI in this year. Now, we are a globally integrated economy,” he added. Prime Minister informed that India has taken several measures and reforms to improve ease of doing business such as simplified industrial licensing, ...

The Dollar Business Bureau  Japan's exports increased at a fast pace in July, indicating a revival in demand from China, the US and Southeast Asia, though the prices rose faster compared to the volumes for several products.  Exports rose over 13% in July to 6.5 trillion yen ($59 billion) compared to a year earlier, according to a data released on Thursday.  On the other hand, the imports into the country rose 16% to 6.1 trillion yen ($55 billion), supported by an increase in the shipments of oil and coal, the data said.  This resulted in declining of trade surplus by 17% to 419 billion yen ($3.8 billion) compared to a year earlier.  “Trade actually dragged on growth in the world's third-largest economy in the April-June ...

The Dollar Business Bureau Minister of State for External Affairs Gen VK Singh said on Sunday that ASEAN (Association of South East Asian Nations) occupies a central position in the Asia-Pacific region’s “security architecture” and has the distinctive ability to reflect the greater interests of world.  From the Indian perspective, ASEAN occupied a central place in the security architecture of the Asia-Pacific region, Singh said while speaking at the 15th meeting of ASEAN-India Foreign Ministers in Manila. In the last five decades, the regional intergovernmental organisation had put behind it several post-decolonisation discussions of the region and steered away adeptly from the Cold War to enter in a new era of higher economic growth that act as an example to others, he said. “Surviving ...

The Dollar Business Bureau  Commerce and Industry Minister Nirmala Sitharaman said on Thursday that if India and ASEAN (Association of South East Asian Nations) countries were to recognize their full potential for business then they need to fast-track the ‘corridors of connectivity’ to ‘corridors of trade’. “Barriers that impede trade must be removed besides enhanced utilization of the Free Trade Agreement (FTA),” she said while speaking at the ASEAN-India Expo and Forum, being held in Bangkok from August 2-5. Sitharaman said that for trade promotion, the introduction of non-tariff measures such as facilitating customs and operation procedures have to go a long way to ensure smooth movement of goods and services between the partner nations. The Minister termed Act East policy of India as “the pillar of its foreign policy”, ...

The Dollar Business Bureau Commerce Ministry said on Monday that the recent round of discussions in Hyderabad for the Regional Comprehensive Economic Partnership (RCEP) would provide a push to the negotiations. Around 700 officials representing 16 nations including Australia and China, gathered in the city during July 17-28 to negotiate the mega trade deal RCEP. It is vital that the RCEP provides a forward looking and positive alternative with regards to rising protectionism across the world, Commerce Secretary Rita Teaotia said in a statement. “India is constructively engaged in RCEP and hopes that the 19th RCEP Round in Hyderabad would find innovative ways to provide impetus to the negotiations,” Teaotia said. The Commerce Secretary further said that the real success of RCEP will be assessed ...