TRADEWINDS
 |
REPUBLIC OF KOREA
Korea waives anti-dumping duty on Indian steel |
The Government of ROK issued an ordinance on 29th October 2007 to stop imposing anti-dumping duty on stainless steel bar originating from Japan, India and Spain.
Korea looks towards India for supply of dairy products
The demand of dairy products including casein, which is being used for manufacturing of imitation mozzarella cheese, has been growing sharply in ROK. On account of recent slowdown of milk productions in Australia, New Zealand and USA due to various reasons including drought in Australia etc., the supply of these products to South Korea has been affected. ROK is looking for alternative destinations including Latin American countries, China and India to meet its growing demand of milk and mozzarella cheese.
Korean companies have shown interest in India to explore the possibility for importing milk products as well as to technology transfer for manufacturing of various milk products on the basis of joint-venture or 100% investment. As per statistics available, India has been contributing a very small portion to the total import requirement of South Korea. During 2007 (Jan-Oct.), the total exports of milk products from India to ROK was 484,645kg, as against total ROK imports of 161,783,000 ton milk products. ROK imports most of its domestic cheese requirement. In 2006, as against their total domestic consumption of 37,000 ton, ROK imported 30,000 ton of natural cheese.
ROK has not imposed any restrictions on import of dairy products from India nor are there any non-tariff barriers.
 |
ETHIOPIA
India signs BIPPA with Ethiopia |
India and Ethiopia signed a Bilateral Investment Promotion and Protection Agreement (BIPPA) on July 5, 2007 during the visit of Mr. Pranab Mukherjee, External Affairs Minister to Ethiopia.
Both sides agreed on the text of the Draft Agreement on Cooperation in the field of Science and Technology, but the modalities of signing the Agreement are to be finalized. The second round of Double Taxation Avoidance Agreement (DTAA) negotiations with Ethiopia is scheduled to be held in Addis Ababa on 21-25 January, 2008.
2nd Regional Symposium on ‘Doing Business with India’
Indian Mission organized the 2nd Regional Symposium on "Doing Business with India" for the Southern Nations, Nationalities and Peoples’ (SNNPS’) Regional State at its capital city Awassa on 3rd December, 2007. The Southern Nations, Nationalities and Peoples’ (SNNPS’) Regional State authorities including office of the President, Trade and Industry Bureau, Investment Bureau and Awassa Chamber of Commerce & Sectoral Associations assisted in organizing it. The Indian delegation was led by Mr. Gurjit Singh, Ambassador of India and included a nine-member Indian business delegation from diversified sectors. Approximately 80 business persons from SNNP’s Regional state attended the symposium.
 |
SINGAORE
India offers greater tariff concessions to imports from Singapore |
A team of senior Singapore officials, led by Mr. Peter Ong, Permanent Secretary in the Ministry of Trade and Industry, met their Indian counterparts in New Delhi on 1 October for the conclusion of the first review of the India-Singapore Comprehensive Economic Cooperation Agreement (CECA). Following the review meeting, it was announced that upto 81% of Singapore’s current domestic exports would enjoy tariff concessions, compared with the current 64%, with effect from 1 November 2007.
Aside from cuts in tariff for exports, Singapore and India also agreed to establish a new Mutual Recognition Agreement (MRA) for Indian medicinal products going into Singapore, which will, in time, reduce duplicate testing. In another effort to further facilitate trade, both sides worked to implement the MRAs on telecommunications, electrical and electronic equipment and for professionals.
Also on the agenda were banking provisions under CECA. The talks will expedite the granting of Qualifying Full Bank (QFB) licenses to Indian banks while facilitating Singapore banks’ expansions and entry into India as provided for under the CECA. CECA was concluded in June 2005 and came into force on 1 August 2005.
 |
UAE
Kochi to be India’s largest container terminal |
On November 24, DP World awarded $150 million (Dh550.5 million) contract for work on construction of the International Container Transshipment Terminal at Vallarpadam near Kochi. The project is expected to begin next month and will be completed in two years. The terminal will have a capacity to handle one million TEUs (twenty-foot equivalent container units) when the first phase is completed in the first quarter of 2009. The planned capacity at Vallarpadam is three million TEUs, making it the country’s largest container terminal.
Maps from worldatlas.com
|
IMPORTERS OF DAIRY PRODUCTS IN REPUBLIC OF KOREA |
|
|
Maeil Dairy Industry Ltd. Samhwan Bldg., 98-5, Unni-dong, Jongno-gu, SEOUL (110-742) Tel: +82-2-2127-2114, Fax: +82-2-3675-0501 E-mail: bdpark@maeil.com Website: www.maeil.com
Binggrae Co. Ltd. 12th Floor, Baejae Jungdong Building, 34-5, Jung-dong, Joong-gu, Seoul Tel. +82-2-2022-6303, Fax. +82-2-2022-6204 E-mail: joseph@bing.co.kr Website: www.bing.co.kr
Namyang Dairy Products Co. Ltd. 4th Fl., Dae-il Bldg., 18, Namdaemunno 1-ga, Jung-gu, SEOUL (100-091) Tel. + 82-2-2010-6452~6456, Fax. +82-2-733-1399 Website: www.namyangi.com
MS Trading Co. Ltd. Rm. 507, Daewoo Maison Officetel, 750-1, Janghang 2-dong, Ilsandong-gu, Goyang-si, Gyeonggi-do(410-837) Republic of Korea Tel. + 82-31-925-3317, Fax. + 82-31-924-2767
WON HEE Trading Co. Ltd. 1-1376,
Pukahyon-Dong, Seodaemun-gu, |
Petra, Inc. Jumbo bldg. Rm. 503, 10, Chang 4-dong, Dobong-gu, Seoul, 132-898 Tel. + 82-2-907-3636, Fax. + 82-2-907-3311, Mobile +82-11-310-5897 E-mail: petra96@unitel.co.kr
Plus Korea Co. Ltd. #230 Sharp Star-River office,11-8 Sinchun-dong, Songpa-gu, Seoul Tel.82 2 417 6331, Fax.82 2 417 6337 Email: plus@milkpowder.co.kr
ARA Company Ltd. 5th Floor Dongbang building, 517, Majang-dong, Seongdong-gu, Seoul,
133-814 E-mail: raina.cho@araco.co.kr Website: http://www.araco.co.kr
Korea Tourist Supply Center-butter 255-5, Neung-dong, Gwangjin-gu, Seoul Tel.82-2-2204-5900, Fax.82-2-454-2547, 452-7294 Website: http://www.ktsc.co.kr
Seokang Dairy & Food Co. Ltd. #421, Wallsung-ri, Sanam-myun, Sachun-si, Kyung Nam (postal code 664-942) Republic of Korea Tel.+ 82-55-852-5511, Fax. + 82-55-852-5515 E-mail: seokang@seokang.com Website: http://www.seokang.com |
|
INDEE 2008
The Engineering Export Promotion Council (EEPC) is organizing its first Indian Engineering Exposition in St. Petersburg from 11 to 14 March 2008. The event is coinciding with another Industrial Exhibition "Petersburg Technical Fair" at Lenexpo Fair Grounds in St. Petersburg, Russia. The Council has booked an area of 2500 sq. meters and is taking 150 Indian engineering companies comprising of leading corporate houses, public sector units and many fast growing small & medium enterprises in the engineering sector, who will have the opportunity to showcase their products and services highlighting India’s technological strengths and capabilities at this mega show. The exposition is expected to attract 10,000-12,000 visitors from Russia as well as neighbouring CIS countries.
For more details, interested member-exporters may contact: Engineering Export Promotion Council, Vandhna, 4th Floor, 11 Tolstoy Marg, New Delhi-110001, Email:eepcto@eepc.gov.in, Website:www.eepcindia.org |
