Taiwan’s attempt to defuse a trade row with America backfires

THOUSANDS of pig farmers throwing dung in the streets of Taipei. Demonstrators marching on America’s informal embassy wearing Uncle Sam hats and leering cow masks. Opposition lawmakers chanting slogans and occupying the speaker’s podium in parliament, disrupting the opening session and delaying the prime minister’s inaugural speech. These are all episodes in a growing row over meat imports into Taiwan that is pitting America, the island’s most important ally, against the vast mass of public opinion—and forcing the government of the recently re-elected president, Ma Ying-jeou, to manoeuvre frantically between the two.

Link (submitted by Anna)

Trade surplus narrows in December

The trade surplus narrowed by 23 per cent in December as exports fell and imports climbed by 8 per cent. 

Figures from the Central Statistics Office showed exports declined to €7.5 billion, a 9 per cent fall compared with November, as a number of high value products came of patent. 

Imports, meanwhile, rise 8 per cent to just over €4 billion, bringing the seasonally adjusted trade surplus to €3.484 billion for December.

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Russian LDP leader urges greater cooperation with Taiwan

Moscow, March 21 (CNA) Vladimir Zhirinovsky, leader of the opposition Liberal Democratic Party of Russia (LDPR), called Wednesday for closer cooperation and exchanges between Taiwan and Russia.  

During an interview in Moscow with CNA, Zhirinovsky said he looks forward to long-term bilateral collaboration on various fronts such as sports, politics, and economics, through the establishment of bilateral associations in a variety of fields.  

Turning to U.S. influence in the region, Zhirinovsky also warned that although the U.S. might seem on the surface to support Taiwan, its real motive is to maximize its own economic interests.

Link (submitted by Anna)

Germany to Cut Subsidies for Solar Power

Germany plans to reduce government subsidies supporting solar power by up to 30 percent within a year because higher-than-expected demand has made the scheme far more costly than authorities initially expected. 

The country's drive to abandon nuclear energy in the wake of Japan's Fukushima nuclear disaster has led to a boom in solar power installations last year that vastly exceeded the government's forecasts.

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German firms expect robust exports in 2012

News magazine Der Spiegel cited a new poll for the German Chambers of
Commerce and Industry (DIHK) among 3,200 firms forecasting a four-percent rise
in exports in 2012. 

The figure was down slightly from the average over the last 10 years of nearly six-percent growth in exports, traditionally the backbone of Europe's top economy, Der Spiegel said.

Link (submitted by Japhet)

Taiwan tries to cut Iranian oil imports at behest of the US

Taiwan is trying to cut its crude oil imports from Iran after the US expressed its wish for Taiwan’s inclusion in a collaborative international sanctions scheme to curb Iran’s nuclear program, sources told the Taipei Times yesterday. 

The US and the EU last month approved sanctions on imports of Iranian crude oil and a freeze of assets of the Iranian central bank, agreeing on a July 1 deadline for countries to end their oil contracts with Iran.

Link (submitted by Anna)

Exports top €1 trillion despite euro crisis

Europe's biggest economy exported €1.06 trillion ($1.4 trillion) in the whole of last year, exceeding the one-trillion mark for the first time, the national statistics office Destatis said in a statement. Imports also rose to a record €902 billion. 

Exports declined by 4.3 percent in December alone to their lowest level since April, as the effects of the region's debilitating debt crisis increasingly made themselves felt, the data showed. 

And with imports also falling by 3.9 percent, Germany's trade surplus - which had ballooned to €158.1 billion throughout the whole of 2011 - contracted to €13.9 billion in December.

Link (submitted by Japhet)

Agricultural Levies to Be Harmonized

After joining the World Trade Organization, Russia will have to start taxing some agricultural products that are now exempt, a top government official said Thursday. 

The government encourages cultivation of several types of produce by waiving value-added tax. Maxim Medvedkov, chief of trade negotiations at the Economic Development Ministry, said the tax will have to be levied on these products so Russia doesn't discriminate against imports. 

For example, "if VAT for our carrots is zero, it should be zero for the imports," he said.

Link (submitted by Sun Jin)

South African mining 'open for business'

Four key players in South African mining, taking part in a debate hosted by the Financial Times and facilitated by Brand SA, acknowledged that the sector is faced with major challenges, but agreed that SA mining is "open for business". 

Deputy Mineral Resources Minister Godfrey Oliphant, Chamber of Mines CEO Bheki Sibiya, BHP-Billiton chair Xolani Mkhwanazi and SA Mining Development Association (Samda) chair Peter Temane took part in the debate in Cape Town on Sunday on the eve of the 2012 Investing in African Mining Indaba conference.

Link (submitted by Andrew)

Cuba trade focus as Brazil's President Rousseff visits

Brazilian President Dilma Rousseff is making her first official visit to Cuba with the emphasis on fostering business ties. 

Communist-run Cuba, under US trade sanctions for 50 years, has seen some economic reforms under Raul Castro.

Link (submitted by Kara)