Leuthard, who ended a six-day working visit to China on Sunday, had said that the feasibility study which began in 2009 had covered all potential areas of trade. Sun Xiaolan, assistant to the Commerce Department of the Swiss Embassy to China said on Monday the FTA talks had officially kicked off.

Although Sun did not disclose the detail of the initial talks but confirmed that Switzerland would soon be the first European country to conclude an FTA with China, as it was with Japan in 2009. Switzerland has the distinction of becoming one of the first Western countries to establish diplomatic relations with China, today to transform itself into a major trading partner from the region.

The top Chinese legislator Wu Bangguo, while he met Leuthard had said the two nations could explore new ways to better combine Swiss technology with the Chinese market. Similarly, the Chinese Commerce Minister Chen Deming said the country had ‘enormous demand’ for Swiss products relating to environmental protection, energy conservation and emissions reduction.

Switzerland is China’s ninth largest European trade partner, while China is Switzerland’s fourth largest global trade partner. In the first half of this year, bilateral trade jumped 127 percent, and China’s imports from Switzerland increased 180 percent compared to the same time last year.

According to the Ministry of Commerce, bilateral trade between China and Switzerland topped $11.3bn in 2008, and slightly dropped to $10.18bn in 2009, with $5.28bn of Swiss exports and $4.9bn imports from China.

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Iran’s Oil Minister Massoud Mirkazemi met the Chinese vice Premier Li Keqiang in Beijing last week, and agreed on enhancing relations between the two nations, especially in the oil and gas sector. Li Keqiang is reported to have told the visiting Iranian oil minister that Beijing would maintain co-operation with Tehran on existing projects.

It should be recalled that last month, the Deputy Oil Minister Hossein Noghrekar Shirazi told the state-run Mehr news agency the Chinese companies were already involved in energy exploration and production projects in Iran worth about $29bn, and in refining and related activities at about $10bn.

Interestingly, some reports say that even Russia is not far behind China in cashing in on Iran embargo. Rajab Safarov, head of the Iran Commission of the Moscow Chamber of Commerce and Industry informed Russian companies were discussing “serious deliveries” to Iran in late August or September.

The US and the EU had made repeated requests to China and Russia to comprehensively honor sanctions against Iran. However, despite approval to sanctions both countries have differences on the scale of punitive measures slapped on nuclear interests of Iran.

“Sanctions are not considered an effective tool… and they will only complicate the situation” was the reaction from foreign ministry spokesman Ramin Mehmanparast last month as quoted by the state news agency IRNA. Likewise, Mirkazemi has also told at that point “European oil companies has no presence (in Iran’s energy sector) and so they cannot have any impact on us”, in a response to the EU’s recent oil sanctions.

If China and Russia continue trade with Iran, sanctions not only become meaningless but also jeopardize business prospects of other countries, including that of India which has massive ongoing and some in the pipeline oil trade deals with Iran. Bloomberg reported sanctions were forcing refiners such as India’s Reliance Industries to pay higher costs to ship gasoline to more distant markets. According to Simpson, Spence & Young Ltd., the world’s second-largest shipbroker, India to the US shipping costs, at $1.9mn, are almost five times higher than those to the Persian Gulf.

“It’s boom time for Russian and Chinese oil traders,” said Michael Swangard, a London-based international trade lawyer at Clyde & Co., which counts BP and Lloyds of London among its clients. It’s “practically impossible” for Europeans to buy Iran’s oil or sell it, he said.

According to Chinese customs data, in the first half of 2010, Iran held its place as China’s third biggest supplier of crude with shipments of 9mn tons of oil, putting it behind Saudi Arabia and Angola.

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Truss’ announcement gains prominence following a recent pre-poll survey gave a slight edge for the Coalition to form the next government of Australia. An opinion poll of Newspoll, a market research firm, commissioned by The Australian newspaper has found that the opposition Liberals leading 52 percent to 48 percent over the ruling Labour.

Truss was echoing similar trade plans which the Australian Opposition Leader Tony Abbott announced on Monday for the tourism industry of the country. Abbot declared a Coalition government would spend an extra AUD $90mn (US$82mn) to help attract visitors to Australia.

The tourism package includes an AUD $40mn (US$36mn) fund that would provide grants of up to AUD $100,000 to build infrastructure for tourism projects.

Another AUD $14mn fund would provide grants to tourism organizations in regional areas. Tourism Research Australia will also be provided with AUD $8mn to identify emerging trends and gaps in the market, to make the industry to become more sustainable.

The Coalition sees tourism a niche business to Australia as the industry employs close to 500,000 people and earns AUD $24bn in export earnings. The Opposition has also allocated AUD $27mn for Regional Medical Workforce Plan to increase the number of doctors, nurses and dentists in regional and remote areas of Australia.

Truss said the Coalition would appoint an ambassador for trade reform to promote global trade reform and re-establish the Trade Advisory Council abolished by the Labour. He clarified that the Coalition’s highest trade priority would be the Doha round of negotiations towards freer world trade, but it would vigorously pursue FTA with China, Japan, Malaysia, the GCC, South Korea and Indonesia.

All details on future plans for trade and industry by the Opposition were laid out during the election campaigns, and were loaded with the Ruling’s inefficiencies and inequities. Australia’s general elections will be held on 21 of this month.

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The Turkish Foreign Trade Minister Zafer Çaglayan hosted the meeting, and was attended by the Syrian Economy and Trade Minister Lamia Assi, the Jordanian Minister of Industry and Trade Amir al-Hadidi and the Lebanese Economy and Trade Minister Mohammad Safadi. The meet decided to form a committee, the Close Neighbors Economic and Trade Partnership Council (CNETAC) to further its cause.

The committee will work on to sketch a roadmap to determine priorities regarding areas of co-operation, and will hold its first meeting in September in Amman, Jordan. The meet further informed that a follow-up of the CNETAC ministerial meeting would be held in the Syrian capital of Damascus in December.

Çaglayan apprised that the goal of the bloc would be to increase and diversify trade and investments among the four countries by creating a liberal trade and investment environment with a modern infrastructure at the international level, free from all tariff and non-tariff barriers, encompassed by a geography which fed a population of 105mn and, as of 2009, had a combined GDP of $723bn, imports amounted to $176bn and exports to $131bn.

In response, Lamia Assi said a Syrian market worth $300bn was awaiting Turkey, and the country could achieve a 40 percent advantage in trade with other Arab countries including Saudi Arabia by sending goods via Syria as her state enjoyed customs-free with Arab nations due to the Arab Free Trade Agreement.

According to the Turkish Trade Minister, the bilateral trade between Turkey and Syria is $795mn three years ago, but is $1.8bn by 2009.

Turkey’s proximity to the Middle Eastern countries has had invited criticisms from some quarters that the country was shifting its axis by turning away from the West and gradually becoming more of a Middle Eastern state. Çaglayan rebutted the argument by saying that Turkey’s axis was with the world but not region-centric.

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On Tuesday, the Cambodian police with riot gears thwarted a week-long strike sparked off by the suspension of a union official at a Malaysian-owned garment factory, which produced goods for international brands including Gap, Benetton, Adidas and Puma. It has been reported that the clashes between more than 100 armed police force and 3,000 garment workers in Phnom Penh had resulted in nine women being hurt, though authorities maintain the operations did not hurt anyone.

The BBC’s Guy De Launey in Phnom Penh says the unrest could be a symptom of a wider social malaise owing to dwindling orders in Cambodia’s crucial garment industry which resulted in tens of thousands of job losses. Early this month, government increased the minimum wage from about $50 to $60, but the double-digit inflation and the trade unions demands of above $80 seemed to be bogging down the effect.

Albeit the unions retracted from a three-day general strike in protest against the meagre rise, the union official’s suspension is believed to have aggravated the situation. But last week’s Huffington Post report interpreted these strikes as a knee-jerk reaction to irrational calibration of wages by the outsourcing firms or associated agencies.

Interestingly, in last week’s blog by Auret van Heerden, President and CEO of the Fair Labour Association visualizes firms that build strong Corporate Social Responsibility (CSR) programmes into their operations and culture would have the edge in many markets. Nevertheless, evidences show such practices by firms are beyond procurement principles as it solely reckons pricing and related aspects devoid of labour rights – especially post-meltdown.

Cambodia’s textile industry accounts for around 85 percent of exports, and is the country’s third-largest source of income after tourism and agriculture. The Southeast Asian state continues to be in the grip of labour problems particularly after the global economic crisis that bombed exports severely to create an economic landscape of joblessness – and desertion of production units by the employers.

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After being in the market for more than a decade, TransFair today has in excess of 6,000 FT products available in 105 product categories including wine, fruit, chocolate, rice, flowers and garments. To San Francisco Chronicle Paul Rice, TransFair USA’s founder and CEO told he was inspired by the success of FT coffee in Europe and decided to organize a co-op of small coffee farmers in Nicaragua several years ago.

Rice informed during the inception, his co-op could gather the trust of just 24 “brave souls” who each gave it 10 bags of coffee on consignment. It sold for $1.26 per pound, and $1 went to the farmers, who were used to receiving only 10 cents per pound. His co-op comprises of about 3000 farmers today.

Jean-Francois Daniel, co-founder of the 2-year-old Fair Trade Spirits Company based in Paris who has similar background and experience like that of Rice said his distillery made Fair Vodka from quinoa, a grain grown by an association of 1,200 small, TransFair-certified farmers in the Bolivian Highlands. He claimed the daily wage for a non- FT quinoa farmer in Bolivia was $1 per day, but the FT quinoa farmers which his company worked with earned $2.80 per day.

Currently, the vodka is available at some stores and restaurants in California. Amanda Womack the general manager of Cask, the first San Francisco retailer to sell Fair Vodka acknowledged even at $35 per bottle, Fair was one of the less-expensive vodkas Cask sold through its store and website.

According to TransFair, the offering of spirits will not be confined to vodka but also will be coming out with berry and coffee liqueur and rum as well. Fair Goji, a goji berry liqueur made with FT sugar from the African nation of Malawi and Fair Café, a coffee liqueur made with FT coffee from Mexico are likely to hit the markets soon for consumers to give spiritual contribution to FT programs.

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As mentioned by the Kuwaiti premier before the trip that the country had not undertaken a high-level international trip like this in recent past is primarily aimed at leveraging the KD 37bn ($125bn) which the government has set aside for the five-year development plan of Kuwait. Furthermore, Kuwait desires to showcase the region and the world as well its “resilience” to the Iraqi invasion and occupation in 1990.

In an interview with The Kuwait News Agency (KUNA), Ali Al Sammak, who serves as the Kuwait’s Ambassador to Chile, Argentina, Uruguay, Paraguay, Canada and Ambassador Designate to Mexico said the Premier was “very keen” on opening embassies in more South American countries. According to a KUNA report, Kuwait is looking to open new embassies in Cuba, Mexico and Chile to strengthen economic and diplomatic ties with most nations in South America.

Al Sammak further added that though Kuwaiti relations with South America was good yet in the fields of education, economy, healthcare, investment, and industry required a lot of effort to exact right results. The high level Kuwaiti team includes the ministers of Foreign Affairs, Finance, Commerce and Industry as well as officials from the Kuwait Chamber of Commerce and Industry (KCCI).

The out-stretched tour is expected to see the signing of a series of co-operation agreements covering trade partnerships and other areas of interests between Kuwait and the touring nations.

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Albeit the renewable power generation is relatively new to the mountainous south Asian country, it is upbeat about the commencement of the project by early next year. Mewang Gyeltshen, chief engineer from the Ministry of Economic Affairs of Bhutan told Recharge that energy demand was increasing by 12 percent, and country had sufficient supplies but remote households needed a sustainable standalone off-grid system.

On the other hand, India’s energy fund is aimed at developing a South Asian regional power grid, with focus on renewable sectors such as hydro, solar and wind. It will comprise of Bhutan with investment of about $850mn (3,000 MW), a 400-kv transmission line at $50mn with Nepal, a 1,000 MW HVDC link with Sri Lanka costing $415mn and a 1,000-MW HVDC back-to-back link with Bangladesh at $220mn.

It should be recalled the Tala Hydro power project in Bhutan, a joint venture by Indian firms, has been successfully commissioned in September 2006 and transmits power to North India. The project has mutually helped, Bhutan to jack up its economy while India to reduce power shortages in its northern parts.

The success of Tala has prompted other Indian energy firms to foray into Bhutan. Last month, the THDC India Ltd, a Govt. of India undertaking, has signed a MoU with Bhutan for the Detailed Project Report (DPR) of 180 MW Bunakha hydroelectric project in Bhutan. The Bunakha project is a part of the Indian government’s initiative to develop 10,000 MW of hydro power in Bhutan by the year 2020.

Bhutan sells hydropower to India at a price of $0.04 per kW, making 100 percent profit from a production cost of $0.02 per KW. Since it is estimated that for every one percent GDP growth more than the same percentage of energy production is required, Indo-Bhutan energy co-operation is likely to be a long-term one.

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While Rompuy visited Croatia, he told that the country would become the second state from the region to enter the EU after Slovenia’s inclusion in 2004. Croatia’s entry to the EU seemed to be likely soon as indicated in the words of the president, he said, “Croatia’s joining the EU will give a positive signal to the region by proving that the accession to the EU is attainable.”

Incidentally, Croatia’s EU accession negotiations started five years ago, and only after Rompuy assumed office in December 2009 they gained some steam. However, the Daily Delo, a leading Slovenian newspaper has questioned the president’s earnestness of the integration of the region to the EU zone.

On the contrary, while Rompuy visited Belgrade the Serbian President Boris Tadic expressed dissatisfaction with the decelerated process of the EU integration as he felt it was crucial for the future of the West Balkans. The Serbian business community has often complained about the problems they faced without the ticket to the EU despite they produced low cost quality goods.

Rompuy reiterated that progress in European integration primarily depended on each candidate’s own merit and performance. Nonetheless, it has to be seen whether the merit mantra would alone work as an expansion model to the EU as it may also rely on solving the ongoing financial crisis which quaked the EU after showing signs of recovery from the global meltdown.

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Both the US and Russia have military bases in Kyrgyzstan and a stake in the country’s stability. The Russian President Dmitry Medvedev, speaking to reporters after the recent G20 summit in Toronto, voiced concern that a parliamentary system would make Kyrgyzstan vulnerable to extremists.

But the unexpected criticism from Russia, Kyrgyzstan’s closest ally may make the whole process of referendum seem farcical. The two month period of a country, which witnessed a bloodless coup d’état usurping an autocratic ruler, the reinstatement of a new leader, the turbulence that followed and the eventual referendum all indicate Kyrgyzstan’s stability will continue to rely on the US-Russia ties.

Over the past two weeks, southern Kyrgyzstan has been plagued by ethnic clashes between Kyrgyz and Uzbeks. The violence have left about 2000 dead, and more than 400,000 Uzbeks were displaced and forced to flee from violent rampages to overcrowded refugee camps in Uzbekistan. The allegedly Russia sponsored coup d’état is believed to have set ablaze the volatile relations between the less fortunate Kyrgyz majority and the generally rich Uzbek minority.

The referendum is expected to usher in a parliamentary system of governance, making Kyrgyzstan the first of Central Asia’s former Soviet republics to shed a tradition of strong presidential rule. All of the other Central Asian states – Kazakhstan, Tajikistan, Turkmenistan and Uzbekistan – have presidential forms of government. Under the new referendum, parliamentary elections will be held in October this year.

As of now, Kyrgyzstan is in the middle of a tug of war between the US and Russia to take direct or quasi control over the Kyrgyzstan’s Manas international airport, the only prime location for transporting NATO soldiers and supplies to Afghanistan. As both parties have interests beyond strategic to prospecting trade opportunities in the country as well as the region, the camaraderie seen during the G20 meet between Obama and Medvedev only holds complete solution to the present crisis of Kyrgyzstan.

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Buchanan Renewables Power (BRP) began commercial operations in Liberia two years ago with a complete rejuvenation package for the non-producing rubber tree estates. The deal for the farmers includes $2 per tonne of tree trunks, free of cost re-plantation and for self-use or sale tree remnants which do not go into the production of wood chips.

Liberia is estimated to have more than 600,000ha of overgrown and moribund rubber farms. The new model of rubber re-plantation rids of farmers’ laborious task of re-claiming their estates by cutting down trees and re-planting them spending money without revenues for a long period. After planting, the trees take nearly seven years to start producing rubber.

Usually rubber trees need to be replaced once they are over 25 years old, and most of them in Liberia are between 30 and 60 years old. While helping farmers, the new project will also provide electricity to communities in the vicinity as well as has opened up exports to the woodchip markets of Europe.

BRP uses massive diggers to uproot trees and a giant mincer to produce rubber wood chips out of the trunks. The company has exported 45,000MT of chips last year with contracts of about 90,000MT for this year; and plans to clear 10,000ha annually.

The Buchanan claims that it has the capacity to produce 400,000 tonnes of woodchips per annum. Besides, on many farms, it has been able to plant two trees for every one that has been harvested.

For Liberia it means that many of its citizens will be re-injected to the market with jobs and businesses, a dire need of the country that promises opportunities and improved living standards after the end of seven years of civil war. BRP says its vision is to achieve success in Liberia and repeat this model in other countries in Africa and, to the extent possible, worldwide.

The firm which emphasizes on cheap, environment-friendly and sustainable energy production with a social commitment to Liberia is putting back some of its revenues for power generation using the locally sourced wood chips. However, the proposed 35MW power generation plant at Monrovia which is supposed to provide electricity for half the price has not been installed yet even two years after its approval.

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According to the Efe, the leading Spanish language news agency, the project called “Casas de Botellas” (Houses of Bottles) is the brainchild of Ingrid Vaca Díaz from Bolivia. The ‘green’ houses which Ingrid has been promoting for the last seven years are believed to have natural temperature-control capabilities.

A cluster of glass and plastic bottles of 600ml, one and two litres interlaced with honey, sand, debris, linseed oil and milk have gone into the making of these low-cost homes. Ingrid told “Casas de Botellas is a group effort in which the poorest families, with a helping hand from their friends, relatives, neighbours and volunteer workers, learn to construct their own houses and give themselves and their families a decent place to live.”

The project began in Warnes, her hometown, when a little girl called Claudia told her that for a Christmas present she dreamt of a bedroom of her own, since in her 4-square-meter (43sq.ft.) dwelling she shared a bed with five other people.

Vaca said earlier she used to store the bottles for making handicrafts and chairs; and while her husband informed that he had plans of disposing them off she overheard Claudia’s dream, and conceived a home out of these bottles. The house that Ingrid built in collaboration with Claudia’s family, people of the community and volunteers went from 43 to 1,827sq.ft, and made use of 36,000 two-litre plastic bottles.

The standard is to use for each meter approximately 81 bottles stuffed with throwaway material like paper, plastic bags, batteries, sand and dirt to build the walls of the house. The bottles are stuck together with bricks, lime and cement, and are held with a kind of webbing to make completely sure the construction will be permanent.

Other materials such as rods, roofing tiles, bricks, gravel, window panes, ceramic tiles, wooden frames and accessories for bathrooms and kitchens are donated by companies, individuals and institutions. The finishing touch for the houses is a coat of paint in which the colours of the columns contrast with the walls, and the bottoms of the bottles remain subtly visible and are painted in the form of flowers.

Until now Casas de Botellas has built six homes in Bolivia, one in Argentina and two in Uruguay and Mexico. Twenty more houses are planned to be built in Argentina, and the project is expected to continue collaborating with other communities throughout Latin America.

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This development has given rise to the market forces to flex its muscles in pushing up wages, and eventually eating up the profit margins. In addition, the narrowing of gap on the outlay of wages with other competing markets has also reflected up on the product prices, which have become higher as compared to other markets.

Surprisingly, though the total labour force of China is about 800mn, very few workers have the required qualifications. It should be recalled, C.P. Lee, Asia-Pacific human resources chief at Motorola Inc. had observed “The skills base does not meet the demands of a rapidly growing (Chinese) market.”

In a rising wages scenario, the Chinese Companies cannot survive in the global market without providing cheap products to its clients, which was the core competency of most Chinese manufacturers hitherto. With that, majority of the Chinese firms will be compelled to shift from the earlier strategy of producing cheap products to quality ones as the market for the cheap products may not exist in future. The absence of cheap goods market will leave the Chinese companies with only one option of leveraging through tapping the available ‘quality’ over a quantity product market.

Hence, to grab new buyers whom seek quality products, the manufacturing companies while dishing out higher wages will also be forced to retain or recruit competent labour force to produce superior quality products. The higher wages which trigger job losses will equip the existing companies the liberty to choose the best from the competitive labour market to cater to the new quality-preferred clientele.

Incidentally, it goes without saying cheap labour often adversely affects the efficiency of the workforce, and the China growth story is an example to that premise. China’s strategy to garner market share was always been associated with manufacturing more quantity while often blowing to the wind the standards of quality.

So as former chief Asia economist at Citigroup Inc., Huang Yiping’s contention, China may be heading for the so-called Lewis turning point, but the silver lining would be that the country would also be in the process of becoming a “quality global factory”. Huang was referring to the economic theory by the late Nobel Prize-winning economist W. Arthur Lewis where manufacturing competitiveness and the pace of growth begin to turn down as labour costs rise.

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Slobodan Radun, the owner of Nectar, the leading Serbian juice and soft drinks producer, told “Their (Croatian) products have solid treatment here, their companies are buying ours, and we do not have access to their market. We offer products of top quality for lower prices than their producers, but it’s not working. Sometimes a company with a special connection can do it, but it’s generally impossible.”

The Politika opined that though the government agencies claimed the economic relations had improved, “not even the contemporary trends and sacred international rules of market economy – the free flow of goods and capital – are being respected”

According to the data from the Croatian National Bank, the Croatian companies invested in $641.7mn by the end of last year in Serbia, making Serbia the second largest destination for the Croatian foreign investments. The bilateral trade between both sides has increased manifold from $40mn in 2000 to $1bn in 2009. In the past seven years the trade has gone against Serbia registering a trade deficit of $716.6mn, and Serbia is one of the rare European countries with which Croatia has trade surplus.

It should be noted that, in a recent conference, Economy Ministry State Secretary Nebojsa Ciric admitted that only one Serbian investment was able to succeed in Croatia, when the Swisslion Takovo bought the Croatian Euro Food Market but otherwise most efforts bombed. It is yet to be seen whether the last month’s accord between both nations to remove political bottlenecks and simplifying business processes would translate into equilibrized economic co-operation.

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Interestingly, an internal Pentagon memo, states that Afghanistan could become the “Saudi Arabia of lithium,” a key raw material in the manufacture of batteries for laptops and mobile phones. It also reports that the country is home to previously unknown deposits — including huge veins of iron, copper, cobalt, gold and large deposits of niobium, a soft metal used in producing superconducting steel, besides lithium.

The memo compels to probe, what is Pentagon’s task in Afghanistan? Is it mining, peace-keeping or capturing the elusive terrorists? The timing of the announcement also induces the misgivings on the veracity of the study as well as the US interest in the country. Is the US trying to stay longer in Afghanistan on this pretext to thwart the increasing presence of the regional powers, China and India, by providing business options to the county?

In November, a 30-year lease, to start mining copper in the Aynak valley, southwest of Kabul, which holds one of the world’s biggest untapped copper deposits, was sold to the China Metallurgical Group for $3bn, making it the biggest foreign investment and private business venture in Afghanistan’s history. Likewise, post-Taliban, India is also heavily involved in the re-construction and development of Afghanistan’s infrastructure.

The retrospective chronicling of the events on the recent discovery compel to call for more queries. Why Russia did not show much interest in Afghanistan despite having the cognizance of country’s rare mineral wealth?

According to the study, while leaving Afghanistan in 1989 after nearly a decade-old occupation the Soviets left behind a horde of old charts and data hinting on the massive mineral deposits in the country. Incidentally, it says, it was with these data, the US Geological Survey began a series of aerial surveys of Afghanistan’s mineral resources in 2006.

Consequently, it establishes a fact that the US entered Afghanistan with prior knowledge of potential mineral wealth in the country. If there is truth in the find, then the Afghanistan’s new found fortune fuels the perception that any ‘offensive’ war includes an exploration agenda for natural resources or knowledge treasure trove behind it whenever any country initiates a war in a foreign land, especially a far-off one.

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Last week, Mehmet Simsek, Finance Minister of Turkey told that his country’s GDP would grow 12 percent in the first quarter of 2010. He had claimed that the economy was recovering quickly from the backlash of the global meltdown in view of country’s several internal crisis management programs.

The 2nd TWTB meet, which is expected to become a venue for 7bn of trade deals, is held between 14th and 20th June. According to sources, the meet has been able to attract nearly 2,200 businessmen from 135 countries and 1,200 Turkish traders as well. About 1,600 translators are interpreting the forums into 38 languages, and the participants would form delegations to visit 62 provinces of Turkey.

The primary objective of the meet would be to include and optimize small and medium-sized enterprises (SMEs) of Turkey to tide over the challenges from the monopolistic-oriented economies. Moreover, Turkey has no intention to endlessly wait for the EU membership to shape its economy to usher in growth particularly at a time when Europe is facing a volatile economic climate.

Through the TUSKON, a confederation with a strong base in Turkey and abroad, the country will be assisting entrepreneurs to overcome the language barrier by providing language courses, and in some cases even translations. The Turkish business confederation along with its affiliations across the world would be working together by simplifying and expediting business processes for country’s SMEs to make the export engine move forward rapidly.

The TUSKON has sister organizations in 135 countries across the world, and these institutions are set up by the Turkish entrepreneurs and volunteers to integrate its members to the international business environment. The Indo-Turkish Business Association, Thai-Turkish Business Association, South Africa Turkish Business Association and the Turkish and Cameroon Business Association are some of the business organizations affiliated to the parent confederation.

Turkey as an emerging export-oriented economy is paying vital importance for the TWTB meet as its trading history indicates those Turkish international business entities monetized significantly better than the domestic ones. A number of government agencies and companies including the Foreign Ministry, the Turkish Exporters Assembly (TIM), Turkish Airlines (THY) and Bank Asya are joining force with the TUSKON to make the meet successful.

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Qimiao apprised Cambodia’s financial and banking methodology has particularly helped many of Cambodia’s commercial banks and micro-finance institutions to raise their standards of corporate governance, which eventually got rewarded with greater investments. Likewise, Chea Chanto, governor of the National Bank of Cambodia opined the recent bad experience of the world financial crisis taught Cambodia the hard way about how the failure of bank and financial system could impact livelihoods.

Chanto also told that Cambodia has learned a lot from the Asian financial crisis, and the National Bank of Cambodia has taken a series of measures to better supervise and regulate the banking and financial system in the country. Banks have an overwhelmingly dominant position in the country’s financial system, representing more than 90 percent and are extremely important engines of economic growth, he added.

In contrast, it should be recalled that Qimiao had said in the recently concluded Cambodia Development Cooperation Forum (CDCF) “transparency and accountability in the management of public finances and natural resources” were critical issues. This reference was in line with the international watchdog organization, Global Witness, which slammed donors last week for continuing to hand over huge sums of aid money, despite evidence of widespread corruption and mismanagement of public funds. Overseas donors continued to pledge financial support on the controversial Land Management and Administration Project, or LMAP that supposed to have rendered many homeless.

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The TI earlier had presented series of detailed recommendations to curb humanitarian issues including corruption and social asymmetries. In its recent press release it had appealed the OAS member states to urgently implement anti-corruption laws to ensure peace, security and sustainable development of the region.

According to Transparency International (TI), the anti-corruption organisation, despite the OAS being the first regional organization to adopt a convention against corruption in 1996, TI monitoring reports show there are serious gaps in its implementation. Although Insulza and other participants were able to identify the issues, it is not sure how the General Assembly – “Peace, Security and Cooperation” would translate them into meaningful action.

The Secretary General Insulza acknowledged “in Latin America there are too many poor, and we have important levels of inequality; but most Afro-descendants are poor, most indigenous citizens are poor, an important number of households headed by women are poor, and 80 percent of the disabled are poor. Therefore, poverty and inequality in our region have colour, gender and condition. It’s a reality. That is why we place such strong emphasis on the relationship between discrimination and human rights and also between discrimination and socio-economic problems.”

Latin America and the Caribbean have the highest income inequality worldwide, with five of the ten most unequal countries in the world located in the region. The two-day meet is believed to have reached an agreement on broad-based involvement from private business entities along with governments to promote democracy, social equality and responsibility, and the fight against crime.

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The report recommends reducing the number of large industrial fishing vessels and redirecting counter-productive subsidies. It identifies human activities has dire effect on the world’s oceans and seas.

The vulnerable marine ecosystems, such as corals, and important fisheries are being damaged by over-exploitation, illegal, unreported and unregulated fishing, destructive fishing practices, invasive alien species and marine pollution, especially from land-based sources. Besides, increased sea temperatures, sea-level rise and ocean acidification caused by climate change also pose a greater threat to marine life which will eventually impact the lives of coastal and island communities and economies.

It is estimated that 11 to 26mn tons of fish or one-fifth of the global reported catch annually fall under the category of illegal, unreported and unregulated fishing. Similarly, only about 25 percent of commercial stocks are in a healthy or even reasonably healthy state. Some 30 percent of fish stocks are considered collapsed and 90 percent of large predatory fish like the blue fin tuna, so prized by sushi aficionados have almost disappeared since the middle of the 20th century.

Nonetheless, the five-day conference on fish conservation opened at the UN Headquarters in New York on Monday gives hope on taking stern measures to contain all kinds of man-made oceanic hazards. The review is held every four years to address the declining numbers of fish stocks under the UN agreement, which took effect from 2001.

The conference is reviewing implementation of the UN Fish Stocks Agreement that establishes a legal regime for long-term conservation and sustainable use of straddling and highly migratory fish stocks. It will provide an opportunity for countries to consider new measures to tighten implementation of the legal regime.

The day one of the conference witnessed the UN Ambassador for the tiny Pacific nation of Palau, Stuart Beck, condemning the killing of 73mn sharks a year, for shark fin soup alone. “The slaughter of sharks for their fins to make soup is as needless and cruel as the killing of elephants for their tusks to make ornaments,” he said.

Sharks are susceptible to overfishing because of their low fertility rates and long life spans. But shark fishing has boomed since the 1980s triggered by demand from China and other nations for shark fin soup, a prized symbol of wealth.

The global seafood consumption has doubled over the past 40 years with many switching to seafood diet as it was found healthier than other meat products. With the UN estimation of about 20mn boats with fishing capacity of 1.8 to 2.8 times larger than the oceans can sustainably support, the industry leaders as well as governments may have to make grave compromises on ocean management to see a sustainable ocean in the coming decades. The UN lists the top 10 nations with the biggest fisheries hauls as China, Peru, the US, Indonesia, Japan, Chile, India, Russia, Thailand and the Philippines.

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SA’s present crisis besides damaging trade with Europe and Asia, it also corroborates the criticism by some European countries in regards to the preparedness of the country to host such a mega event like the World Cup come June and July. The SA Minister of Agriculture, Fisheries and Forestry Tina Joemat-Pettersson told reporters losses to the industries under her ministry are estimated over 1bn rand ($127mn).

The strike, well over a fortnight has already brought the exim trade of the country to a standstill inflicting potential losses to the job market and international trade contracts. Items like metals, cars, fruits and wine to Europe and Asia, as well as imports of automotive parts and fuel supplies is reported to have affected. FIFA, the football governing body has informed imports of some equipment for the event has also been impacted.

Though it was predicted before the strike the coal and iron ore exports and fuel supplies could be stalled, stocks and supply process as so far avoided such a situation. Likewise, the domestic power supplies also have not been affected much by the strike since coal for the power plants is largely supplied through conveyor belts directly from the mines.

The workers of the SA logistics group Transnet which has about 54000 trade union members began strike demanding 15 percent pay hike despite the group conceding 11 percent. Although over 60 percent have returned to work since Monday, the smaller South African Transport and Allied Workers Union (Satawu) has decided to go ahead with its demand.

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The report has clarified that though the term “infrastructure” could denote a wide range of facilities and systems including economic and financial infrastructure, social infrastructure and physical infrastructure, the study has centred on physical infrastructure. As per the report, the projections for the future infrastructural development have been drawn from a study by the consulting firm, Booz Allen Hamilton.

In a 2007 report, Booz Allen Hamilton has estimated that investment needed to “modernize obsolescent systems and meet expanding demand” for infrastructure worldwide between 2005 and 2030 was at about US$ 41 trillion. It said the North American (the US and the Canadian) share of the infrastructure needs alone would be around US$ 6.5 trillion through 2030.

While the PIR finds both involvement by public sector as in the case of China and a broad-based public private partnership (PPP) seen in India has country-specific successful models in the speedy development of infrastructural projects. The report highlights the Eleventh Five Year Plan for Energy development by the National Development and Reform Commission of the People’s Republic of China as an example of one such plan which sets specific goals for the development of energy infrastructure in China. The PPP-based National Highway Development Programme of India which aims to deliver about 55,000 kilometres of highways is cited as one good example with a clearly well-defined role for the private sector.

The Positive Infrastructure Initiative was launched in 2009 in response to a clear mandate provided to the Forum at the Annual Meeting 2009 in Davos by the CEOs of the leading infrastructural organizations to ensure that the massive fiscal spending on infrastructure not only generates the employment to restart the global economy but also creates infrastructure assets that foster long-term economic competitiveness, and are environmentally and socially sustainable.

The World Economic Forum (WEF) is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas. The official website of the WEF in its latest press release has made available details about the report.

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China’s State Council on its last Thursday’s release said the government encouraged private investment in domestic oil and gas exploration and crude oil, natural gas, refined oil storage and transportation and pipeline transportation facilities and networks. China’s strategy to bring private players to the energy sector in a big way is regarded as an attempt to support its economy that is projected to grow more than 10 percent, eventually increasing energy needs.

Zhao Youshan, head of the Commercial Petroleum Flow Committee of China, opined the involvement of private oil enterprises in the national strategic reserve of oil could relieve the pressure of oil exploration and production to some extent. Currently, all prospective domestic oil and gas blocks are owned by the state. The new oil and gas directive is likely to allow private enterprises to have significant stake in domestic oil and gas exploration as well as production.

According to Beijing Times, the enterprises bidding for the project should meet certain criteria, such as the volume of a single oil storage tank should be no less than 10,000 cubic meters. Though the reserve capacities of private enterprises are comparatively small, the private players seemed to be eager to join the national oil reserves with state support including finance, infrastructure and easily adaptable laws.

At present, the private enterprises involved in the supply of crude oil is very limited since they are stipulated to import 2,530 tons of crude oil per annum or about the daily imports 500,000 barrels. However, the private participation in oil and gas sector comes at a time when the country plans to augment the use of non-fossil fuels from the current 8.5 percent to 15 percent by this year end.

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India would be largely interested in absorbing Israel’s technological prowess in areas such as bio-tech, nano-technology, healthcare, security services, water management and agriculture. On the other hand, Israel will focus on the India’s manufacturing potential to overcome its limitations on this front.

Although there are equal trade and utility potential for both countries, the tariff differences remained a roadblock for the smooth transition of trade talks ever since they began. India’s tariffs are on the higher end, and will have to make steep reductions to accommodate Israel’s trading needs. However, given the smaller size of Israel’s manufacturing industry, India does not have to worry about any massive influx of goods if it compromised on tariffs.

Speaking to Business Line, Eli Belotserkovsky, Deputy Chief Mission, Embassy of Israel, said that there are very few issues that need to be sorted out to finalise a FTA between the two nations. He opined that the two-way trade was evenly matched at about $2bn, and projected to grow up to $6bn once the FTA was signed.

Belotserkovsky admitted that they were not good at mass production or heavy equipment, where India could play a big role. He also said that the textile trade was another area which had immense potential between the two nations.

The Indo-Israeli FTA is expected to promote investment opportunities for both governments as well as private enterprises. Among goods and services, both countries’ major area of focus would be agriculture as it has been in the past few years.

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The world body should lay emphasis on reducing the growing divide between the rich and the poor rather than pushing for trade to please some of the business powerhouses. If increasing world trade through global action means prosperity for all, the WTO has to address problems of the workforces that comprise of about 70 percent excluding self employed involved directly or indirectly in global trade.

It has to press for regulations which will bring in all workforces under one umbrella of organized sector as majority, particularly in developing countries are forced to work incognito. The workers of unorganized sector are deprived of employment protection such as paid leave, sick leave, healthcare and other perks; and are almost enslaved by their employers.

Similarly, even workers of organized sector are exploited by overloading with work schedules that may go up to 20hrs per day without any rest or extra allowance. Especially the workforces from countries without minimum hourly wages have been largely put to this hardship by calibrating it as a day’s work.

At a glance, it may seem like how on earth the strengthening of organized sector of workforce will improve the living standards of the poor and marginalized workers without developing other key areas such as free right to education, healthcare and other civic amenities. But by elevating the dignity of workers by providing reasonable earnings for what they work is likely to boost their confidence, and thereby prod themselves to meet all immediate needs without any administrative influence.

As far as trade is concerned, the atrocities perpetrated on workforces should also be given equal care like that of other aspects of trade agreements to avoid social unrests stemming from socio-economic asymmetries. The absence of minimum wages for workers or potentially running unorganized workforces, perhaps even with the backing of governments, should be given serious re-look as it is implied in individual trade deals as grievous human rights violations.

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The Sultanate of Oman is conducting this workshop to enhance its interest and scientific advancement in the fields of architecture control, eco-tourism and environment protection. In the past few decades, Oman has been able to leapfrog various eco-friendly projects including renewable energy, management of waste, water resources and anti-pollution drive on marine world.

The study meet which is jointly organized by Ministry of Heritage and Culture and French Embassy is expected to promote sustainable development programs with emphasis on green architecture and eco-tourism. Oman industry heads would be primarily interested in technology transfer and other inputs from France to take their green industry to the next level of development.

French Ambassador to the Sultanate Malika Berak is of the opinion that the three-day event will prove to be an opportunity to expand bilateral ties as 10 leading architecture agencies with good number of experts from France have agreed to take part in the workshop. The event will target French and Omani architects, researchers, institutional representatives and officials in charge of sustainable development affairs to put accent on an eco-friendly comprehensive plan for all future developments in possible sectors.

According to sources, Jean Gautier, Director of Architecture at French Ministry of Culture and Communication, will give a presentation on the urban planning project ‘Grand Paris’. Besides, the Muscat municipality projects are also likely to be featured at the event to draw expert feedback.

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