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Official affirms safety of Chinese vaccines (nationthailand.com)

Official affirms safety of Chinese vaccines

Dec 22. 2020A staff member displays samples of the COVID-19 inactivated vaccine at Sinovac Biotech Ltd, in Beijing, capital of China, March 16, 2020. [Photo/Xinhua] 

By WANG XIAOYU
CHINA DAILY/ANN

Respecting laws of science fundamental principle in its development, he says

Experimental COVID-19 vaccines developed by Chinese researchers are safe, and ongoing efforts to push for their market approval will strictly follow the rules of science, a health official said on Monday.

China is conducting third-stage clinical trials for five Chinese-made vaccine candidates overseas and has administered emergency inoculations to nearly 1 million people in the country, according to Zheng Zhongwei, an official with the National Health Commission who is leading the task force on vaccine development.

“These vaccinations have fully demonstrated the safety of Chinese-made vaccines. There is some adverse reaction, but no severe adverse effect has been reported,” he said during a news conference on Monday.

He added that results from third-stage human trials are needed to determine the efficacy of these vaccines, although data from earlier phases of clinical trials and reports from recipients of emergency inoculations in high-risk countries have already shown the protective effects of these doses.

“Some leading developers have just obtained enough cases to conduct analysis of its efficacy. They have begun to submit materials needed for approval to the National Medical Products Administration,” Zheng said.

Market approval will only be granted after submitted trial findings meet the requirements of the top drug regulator, he added.

Zheng stressed that throughout the vaccine development process in China, respecting the laws of science has always been the fundamental principle.

“I believe that after third-stage trial results are revealed, the drug regulator will advance the registration and approval procedures at a relatively fast pace,” he said. “Some manufacturers are also gearing up for mass production.”

China has been in a leading position in the global race for a COVID-19 vaccine. As of Dec 2, a total of 15 Chinese-made vaccines employing five different technologies have entered clinical trials, according to Zheng.

Three inactivated vaccines－two developed by Sinopharm and one by Sinovac－were among the first candidates in the world to begin the third and late stage of clinical trials, according to Zheng.

The fourth inactivated vaccine created by the Chinese Academy of Medical Sciences’ Institute of Medical Biology in Kunming, Yunnan province, has recently passed ethical reviews in foreign countries and is about to begin the third-stage trial.

Third-stage trials of the adenovirus vaccine in Russia, Pakistan and Mexico have enrolled over 20,000 people, and the recombinant protein vaccine is being tested in Uzbekistan, he said.

Chinese health officials said over the weekend that in a two-stage vaccination drive, the country will first focus on vaccinating all people at high risk of contracting the virus over the winter and spring.

Inoculation program

Zheng said the emergency inoculation program mainly covers cold-chain workers, border control personnel, front-line medical and disease control workers and people going abroad for work.

Since its official launch in July, authorities have gradually expanded the scope of the program and have been prudent and careful. All people receiving the doses were voluntarily inoculated, he said.

He added that local governments are now evaluating the number of people that are expected to participate in the program in the winter and spring.

When a vaccine is eventually released for public use, it is estimated that 70 percent of the population will have to be vaccinated in order to build up herd immunity, which will stamp out the virus, Wang Huaqing, a chief researcher at the Chinese Center for Disease Control and Prevention, said on Monday.

He added that before herd immunity is established, the public is urged to stick to personal protective measures, such as mask-wearing and keeping social distance.

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[Bhutan] No one can travel out of Thimphu until further notice (nationthailand.com)

[Bhutan] No one can travel out of Thimphu until further notice

Dec 22. 2020

By Yangchen C Rinzin
Kuensel/ANN

No one would be allowed to travel out of Thimphu in next 48 hours. The second lockdown in the capital was declared in the early hours yesterday.

Based on the emergencies, however, people can come to Thimphu from other dzongkhags.

Thimphu Thromde and super zones, which includes Thimphu Throm and peripheral areas of Debsi, RTC area, Gangchey, Nyezergang in the south, Kabesa, Begana and Changtagang in the north have been put under lockdown.

A 25-year-old female, who visited the flu clinic at national referral hospital tested positive for Covid-19 yesterday.

Lyonchhen, during the press brief, advised people not to travel if not necessary.

“We have restricted movement outside Thimphu because the outbreak of Covid-19 positive case is from here,” Lyonchhen said.

All offices, institutions, schools, shops, and business entities in Thimphu Thromde and super zones will remain closed until further notice.

The delivery of essentials and zone wise relaxation will be initiated in the next 48 hours depending on the degree of transmission.

Lyonchhen had asked the people to stay indoors at least for next 48 hours. “We’ll keep informing the nation through various social media platforms and mainstream media.”

He said that people outside Thimphu should be vigilant and avoid travelling unnecessarily.

More than 38,000 people had travelled from Thimphu to other dzongkhags since December 7.

Lyonchhen said that the lockdown would enable health officials to trace and test all possible contacts in the next two days and would help determine the degree of transmission.

He reminded people to be careful and advised not to travel or celebrate any festivals in large groups.

Meanwhile, education ministry has advised all schools to remain closed until further notice.

Thimphu dzongkhag administration (TDA) has advised two schools, Wangbama Central School and Yangchengatshel Middle Secondary School to operate as a self-containment zone.

Dzongkhag official has advised teachers of these two schools residing in Thimphu Thromde not to travel to school until it is safe to move out of Thimphu. “We will test teachers before sending them back to school.”

TDA has asked Khasadrapchu Middle Secondary School to close because 17 teachers and five students reside in Thimphu thromde.

After one of the students of a Thimphu public school tested positive, who was a primary contact of the index case, 29 classmates, friends and teachers were also tested for Covi-19. Results have come out negative.

Call toll-free number 1010 for any question related to lockdown and Covid-19.

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First shipment of Covid-19 vaccine arrives in S’pore on SIA flight from Brussels (nationthailand.com)

First shipment of Covid-19 vaccine arrives in S’pore on SIA flight from Brussels

Dec 22. 2020The first shipment of Covid-19 vaccine arrives in Singapore on Dec 21, 2020. ST PHOTO: KUA CHEE SIONG 

By Yuen Sin and Toh Ting Wei
The Straits Times/ANN

SINGAPORE – The first batch of the Pfizer-BioNTech Covid-19 vaccine has landed in Singapore, a crucial first step to vaccinate the population.

The vaccine – the first from Pfizer to arrive in Asia – was carried by a Singapore Airlines (SIA) Boeing 747-400 freighter, SQ7979.

The flight had departed from Brussels, Belgium, on Sunday (Dec 20) and landed at Changi Airport at about 7.30pm on Monday (Dec 21).

The shipment was prioritised for loading into the aircraft in Brussels, as well as during unloading in Singapore, SIA said.

Transport Minister Ong Ye Kung, Mr Kevin Shum, the director-general of the Civil Aviation Authority of Singapore and the chief executives of Changi Airport Group and SIA were among those who turned up at the airport to witness the arrival of the vaccine.

Ground handler Sats moved the vaccines to its cold chain facility Sats Coolport before they were loaded onto a refrigerated truck that will send them to an external storage facility.

Speaking to reporters at the facility, Mr Ong said: “We are ready to do this and a lot of preparation work has gone into making this as smooth as possible.”

SIA had conducted a successful trial to test its vaccine handling capability along the same freighter flight route on Dec 19, the airline said.

It carried out the trial with cool boxes used to pack the actual vaccine, and had tracked the internal temperature within these boxes throughout the flight. It also monitored the rate at which dry ice within the box turned into carbon dioxide.

SIA senior vice-president for cargo Chin Yau Seng said the airline was honoured to be able to play its part in an important milestone in the fight against Covid-19.

“It also served to demonstrate SIA’s and the Singapore air hub’s readiness for the very important job of transporting and distributing Covid-19 vaccines internationally,” he said.

The Pfizer-BioNTech vaccine is the first Covid-19 vaccine approved by the Health Sciences Authority in Singapore. There are no details yet on how it will be rolled out.

The vaccine is already being administered in countries such as Britain, Canada and the United States.

Singapore is one of the first countries to obtain the vaccine, and other vaccines are expected to arrive in the coming months, Prime Minister Lee Hsien Loong announced last week.

The vaccines will be offered on a free and voluntary basis to all Singaporeans and long-term residents who are currently here.

Priority will be given to healthcare and front-line workers, as well as elderly and vulnerable patients.

If all goes according to plan, there will be enough vaccines for everyone in Singapore by the third quarter of 2021.

The Republic has also beefed up its capacity to store and transport Covid-19 vaccines, and is positioning itself to be a hub for the movement of Covid-19 vaccines to the region.

Shipments from Europe are expected to go through Singapore to South-east Asia and South-west Pacific when broader regulatory approval is secured.

The Civil Aviation Authority of Singapore and Changi Airport Group have set up a task force to work on the vaccine shipment process. The task force comprises 18 members in the air cargo sector, including SIA and ground handlers Sats and dnata.

Logistic firm DHL Global Forwarding, a division of German logistics giant DHL, said it had arranged for the collection of the vaccines from the manufacturing site in Puurs in Belgium. The vaccine cargo was accompanied by security escorts on the road to the airport in Brussels.

DHL will also handle the final delivery of the vaccine to the designated location in Singapore, it said.

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Japan tops 200,000 infections with novel coronavirus; pace accelerating (nationthailand.com)

Japan tops 200,000 infections with novel coronavirus; pace accelerating

Dec 22. 2020

By The Japan News/ANN

Japan exceeded more than 200,000 infections with the novel coronavirus on Monday, including cases from the Diamond Princess cruise ship, according to a Yomiuri Shimbun tally.

A total of 42 people were confirmed on the day to have been infected in the prefectures of Yamagata, Fukushima, Okayama, Hiroshima and Tokushima. According to the Yomiuri’s tally, this meant 200,002 people had been infected with the virus so far as of 1 p.m. Monday.

The cumulative number of Japan’s confirmed infections with the novel coronavirus has been on the rise since the first announcement on Jan. 16. It reached 50,000 on Aug. 10, about seven months later.

The number exceeded 100,000 on Oct. 29, and infections spread rapidly across the country in November. The number of infections per day reached a record high of 3,213 people on Thursday, indicating the pace of increase is accelerating. 

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Rules issued on security review of foreign investment (nationthailand.com)

Rules issued on security review of foreign investment

Dec 21. 2020

By China Daily, ZHONG NAN and LIU ZHIHUA

The newly released rules on China’s security review of foreign investment will effectively restrain national security risks while actively promoting and protecting foreign investment, analysts said on Sunday.

They made the remark after the National Development and Reform Commission and the Ministry of Commerce jointly specified provisions concerning the security review mechanism on foreign investment on Saturday.

Under the new measure, the scope of foreign investment that will be subject to security review includes the military industry and other national defense and security fields, locations near military facilities and military industrial facilities, as well as major agricultural products, energy and certain fields that have importance in national security.

Approved by the State Council, China’s Cabinet, the 23-clause rules aim to support the country’s higher-level opening-up and facilitate the new growth paradigm, said a statement released by the NDRC and the ministry. The rules will take effect 30 days after their release.

Ma Yu, a senior researcher at the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said it is fairly common for countries to carry out security reviews on foreign investment that affects or may affect national security.

From the perspective of global competition, the legal environment is a vital element in supporting both economic growth and the earning strength of multinational corporations, said Huang Jin, a researcher at the Chinese Academy of Social Sciences’ Institute of International Law.

A well-developed legal system will not only boost sales for global companies, but also create an even bigger market, he said at an economic forum on Saturday.

As China’s continuously improving business environment has provided global companies a fair and open market, an efficient supply chain and a competitive talent pool, foreign direct investment in China increased by 6.3 percent year-on-year to 899.38 billion yuan ($137.6 billion) between January and November of this year, according to the Ministry of Commerce.

While China continues to attract foreign investment in high-end manufacturing, modern services and environmental protection sectors, and creates a law-based business environment, the US Commerce Department announced on Friday that it had added 59 Chinese companies to a trade blacklist, in the name of “protecting US national security”.

Because of this move, US firms will have to obtain a license to do business with companies on the list.

The Ministry of Commerce responded to the US move by calling it “another example of the US abusing its power to suppress Chinese companies”.

China will continue to take necessary measures to safeguard the legitimate rights and interests of its companies, according to the ministry.

The new restrictions imposed on the Chinese companies have already caused controversy in the US, because China and the US have a wide range of cooperation on science, technology and trade, and enlarging the blacklist also severely damages the interests of US companies and universities, said Tu Xinquan, a professor and dean of the China Institute for WTO Studies at the University of International Business and Economics in Beijing.

Zhang Yongjun, a researcher at the Beijing-based China Center for International Economic Exchanges, said that even though more Chinese companies have been added to the blacklist, their commercial operations will not be affected as they have already built a global presence and the US market only accounts for part of their overseas operations.

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Utmost caution urged after Covid outbreak in Thailand (nationthailand.com)

Utmost caution urged after Covid outbreak in Thailand

Dec 21. 2020Cambodian Minister of Health Mam Bun Heng has urgently advised residents near the border to exercise heightened caution and quarantine all people crossing the border for 14 days following the Covid-19 outbreak in Thailand’s Samut Sakhon province. Photo Credit: Hong Menea 

By The Phnom Penh Post, Mom Kunthear

Following the Covid-19 outbreak in Thailand’s Samut Sakhon province, Cambodian Minister of Health Mam Bun Heng has urgently advised residents near the border to exercise heightened caution and quarantine all people crossing the border for 14 days.

Bun Heng relayed notification on December 20 that Thai health authorities issued an alert advising regional counterparts of detection of a Covid-19 outbreak in Samut Sakhon that had spread to Bangkok. Over 500 people, mostly Burmese migrant workers, tested positive in a single day, and the Thai government has put the province under lockdown from December 20 to January 3.

“The [Thai] ministry released this emergency guidance because Samut Sakhon province is only 300km from Cambodia. Koh Kong, Pursat, Battambang, Banteay Meanchey and Oddar Meanchey provinces have border crossings with Thailand. The guidance was released to try to prevent infection from entering Cambodia by means of the movements of individuals who are positive for Covid-19,” Bun Heng said.

He called on people on both sides of the border to be diligent in monitoring inbound international passengers. Authorities must examine travellers’ health seriously, especially checking temperatures and ensuring that health forms were filled in correctly, he insisted.

Bun Heng added that a mandatory quarantine of 14 days applies to all people arriving to the country. Their testing would be handled by the Institut Pasteur du Cambodge, the National Institute of Public Health or the provincial Hospital of Siem Reap.

“Sub-national level authorities must steadfastly monitor the quarantine of arriving passengers to Cambodia in order to prevent people escaping undetected from quarantine facilities. Community members should provide information to local authorities regarding new arrivals,” he said.

Prime Minister Hun Sen delivered cash to seven provinces near the Cambodia-Thailand border earmarked for poor people during quarantine. Battambang, Banteay Meanchey, Pailin, Preah Vihear, Oddar Meanchey, Pursat and Koh Kong provinces each received 50 million riel ($12,500).

Health ministry spokeswoman York Sambath said Hun Sen had instructed the authorities of these provinces to strengthen enforcement of quarantine procedures for Cambodian workers returning from Thailand to prevent spread of the infection.

On December 19, Bun Heng issued revised health measures, including a strict, 14-day quarantine for diplomats and international officials holding diplomatic visas. They will be required to obtain a certificate indicating a negative Covid-19 test within 72 hours of departure from their country of origin. Upon arrival, they must have samples taken for testing by Cambodian doctors.

He stressed that foreign representatives and UN organisations in Cambodia need to ensure compliance by those who have obtained Cambodian diplomatic visas. In the event that an in-bound passenger tests positive for Covid-19, the person will be sent to a hospital managed by the ministry.

“Diplomats must be kept in a complete, 14-day quarantine at embassy residences or related facilities. In the case that diplomats do not stay at embassy facilities, they must complete a 14-day quarantine at the Himawari Hotel under supervision of their embassy or organisation officials. They must cover all expenses themselves,” Bun Heng said.

Also on December 18, South Korea delivered new aid to Cambodia’s health ministry via four agencies. In a press release, the Korea International Cooperation Agency (KOICA) said that the aid included 20 hazmat suits for conducting Covid-19 testing, 12 stretchers, two mobile X-ray machines, four disinfectant machines, 23,000 test kits, two RT PCR testing machines and 300 pieces of protective gear.

On December 20, the health ministry announced that 30 of 41 people who tested positive for Covid-19 in connection with the November 28 community transmission had recovered. Seventeen more patients continue to undergo treatment.

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Businesses brace for near shutdown (nationthailand.com)

Businesses brace for near shutdown

Dec 21. 2020The image shows the street of Myeongdong, one of Seoul’s most visited tourist spots, on Dec. 8. (Yonhap) 

By The Korea Herald, Song Su-hyun

Retailers to suffer the most; exporters likely to be spared from restrictions

As South Korea’s daily coronavirus tally rose to a new record on Sunday, local businesses are bracing for a possible upgrade in the country’s social distancing rules to the toughest level yet – a partial shutdown.

While Level 3 of the government-set five-tier social distancing scheme is expected to decimate conventional retail industries, export-driven sectors such as mobile phones and semiconductor chips are less likely to be massively affected, experts and industry insiders said.

The government and health authorities are taking a cautious approach, given the weight of a decision, but when an upgrade is deemed inevitable, there will be no hesitation, said Prime Minister Chung Sye-kyun.

“When we move to Level 3, over 200 million business outlets and facilities will have to close or limit their operations,” he said Friday.

Not included in that 200 million would be factories of Samsung Electronics, Hyundai Motor and other major conglomerates that buttress the country’s economy, and biotech companies developing COVID-19 treatments, diagnostic kits or vaccines.

These companies are currently operating their production facilities as usual and are expecting no immediate impact from the country’s distancing rule changes, if any.

Company officials contacted by The Korea Herald said they were not letting their guards down by strictly limiting travel and meetings.

Samsung Electronics, the world’s largest memory chip provider and the biggest exporter shoring up the Korean economy, sees no problem in running its chip fabrication lines under its own guidelines to prevent the virus from getting into its production facilities.

“A minimal workforce is allowed to work to keep the lines operate as usual, while employees in the back office and research centers are advised to not hold any business meetings within the workplace and refrain from traveling and having personal gatherings,” a Samsung official said.

Despite the unrelenting pandemic over the past 11 months, Korea’s electronics industry saw its overseas sales steadily grow.

According to data by the Ministry of Trade, Industry and Energy, total semiconductor exports rose 3.5 percent to $89.7 billion from January to November compared to the same period last year.

Chip exports accounted for 19.4 percent of the country’s total exports. If the trend continues, chip exports are estimated to claim over 20 percent of the export-driven Korean economy by the end of the year.

When asked if Level 3 social distancing would hamper the exports, an official from a leading local diagnostics firm told The Korea Herald that, “There has been no noticeable link between social distancing and exports so far.”

“Work from home has not been required, and we have only seen an increase in manufacturing and exporting this year,” she said.

“However, should the government raise the distancing measures to Level 3, the regulations will become stricter, for which we are internally preparing guidelines to minimize disturbance in work,” added the official.

Pharmaceutical exports rose to a record high in Korea in 2020 on the back of increased global demand for Korean coronavirus prevention tools. As of October, the country marked over $10 billion in yearly exports of pharmaceuticals and medical devices, for the first time.

COVID-19 diagnostic kits towed the figure, according to Korea Customs Service.

Korea Pharmaceutical Traders Association seconded the opinion, saying that if Level 3 distancing affects pharmaceutical exports, it would apply differently per product.

However, overall, domestic distancing would not affect overseas sales of Korean drugs, he said.

The situation is starkly different for domestic market-oriented businesses.

Stores that sell daily necessities such as groceries, glasses and medicine would be exempt from Level 3 measures, but businesses considered not essential will have to close completely or partially. Department stores, electronics stores, duty-free stores and clothing and cosmetics sections inside discount chains could be those facing such limitations.

In a regular briefing Friday, the Ministry of Health and Welfare’s spokesperson Son Young-rae hinted that measures could regulate even supermarkets from being crowded.

“It is under review to allow the sale of daily necessity corners inside convenience stores and supermarkets, but the number of customers allowed inside will be limited,” said Son, adding that the same will apply to large discount store chains.

Such measures will limit the operation of 50,000 stores nationwide and 25,000 stores in the Seoul metropolitan area alone.

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CRCC units win rail contract in Thailand (nationthailand.com)

CRCC units win rail contract in Thailand

Dec 21. 2020China Railway employees pave a road in Batang county, Sichuan province, in July. [Photo provided to China Daily] 

By China Daily, ZHONG NAN

Two subsidiaries of China Railway Construction Corp, the State-owned rail construction contractor, have won a $415 million contract to build civil engineering projects for the China-Thailand high-speed railway, the Beijing-headquartered group said in a statement.

Under the deal, the group’s two contractors－China Railway 11 Bureau Group Co Ltd and China Railway 23 Bureau Group Co Ltd－will build construction projects spanning 39.79 kilometers, including railway beds, bridges and railway stations for the first phase of the 250-km-long line linking the Thai capital Bangkok and the northeastern province of Nakhon Ratchasima.

An additional line connects Nakhon Ratchasima to the Thai border at Nong Khai province. A railway bridge linking Nong Khai province with the Laotian capital Vientiane will connect Thai railways with the Laos network. The planned length for this railroad, with a designated speed of 250 km per hour, is 900 kilometers.

Experts said it is one of the major connectivity projects between China and Thailand under the Belt and Road Initiative.

Upon completion, the railroad will be Thailand’s first high-speed railway running across the country and connecting with Laos’ Vientiane until it reaches China’s Kunming, Yunnan province, said Feng Hao, a researcher at the Institute of Comprehensive Transportation of the National Development and Reform Commission.

The railroad is part of the involved countries’ plan for a network of links across Southeast Asia, that had its start in a memorandum of understanding on railway cooperation signed by the Chinese and Thai governments in 2014.

Under the agreement, China will provide expertise and supervision, while Thailand will provide equipment and materials. At the request of Thailand, China will also use a number of Thai engineers and architects to help transfer expertise in maintenance, operation and management of the high-speed railroad, according to information released by the Chinese embassy in Bangkok.

CRCC said this is a significant breakthrough for the group’s branches to jointly develop the overseas market. It has not only successfully extended the company’s business in Thailand, but also enhanced cooperation and mutual trust with local partners and created a solid foundation for the company’s future expansion in Thailand.

Apart from creating growth opportunities such as trade in goods and services, cross-border investment and tourism, the project is also vital for boosting connectivity between China and the Association of Southeast Asian Nations through the China-Laos railway and other economic corridors in the region to better connect with other ASEAN economies such as Malaysia and Singapore, according to the CRCC statement.

In addition to supporting growth arising from the future implementation of the Regional Comprehensive Economic Partnership agreement, the China-Thailand high-speed railway project will be a showcase for effective alignment between the BRI and Thailand’s infrastructure development plans, said Zhang Jianping, director-general of the Beijing-based China Center for Regional Economic Cooperation.

Serving Thailand’s northeastern regions and covering major cities, the railway network will be a powerful engine for economic development and better standards of living in the region, he said.

Chiyawan Chongvatana, commercial minister of the Thai Embassy in China, said the RCEP will not only reinforce the cooperation of regional and global value chains, but also enrich participants’ ability to attract foreign direct investment amid the global fight against the COVID-19 pandemic.

Market access and other traditional business areas aside, the RCEP agreement also includes a number of new components, such as intellectual property protection and collaboration, e-commerce and small and medium-sized enterprises, indicating the agreement is a modern and high-quality agreement, and it also promotes transparency and predictability of trade, she said.

Together with better developed infrastructure facilities, the Thai diplomat said the RCEP will help the region gain more economic and trade advantages.

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Future of export hinges on continuity of EU duty benefit PRI study says (nationthailand.com)

Future of export hinges on continuity of EU duty benefit PRI study says

Dec 21. 2020

By The Daily Star

The future of Bangladesh’s exports heavily depends on the continuation of duty-free privileges to the European Union, the country’s largest export bloc, following the 2024 status graduation, according to findings of a study released yesterday.

If the EU extends the duty privileges, then other developed countries will follow suit, said MA Razzaque, research director of Policy Research Institute (PRI).

As a least developed country (LDC), Bangladesh currently enjoys duty-free access to the EU under the latter’s Everything But Arms (EBA) initiative, with around 61 per cent of its yearly exports destined for the region.

Of these exports, garments account for about 64 per cent, or $24 billion.

So far, only the EU has assured that it would continue providing the zero-duty benefit until 2027 to allow Bangladesh a period for preparations following its status graduation from an LDC to a developing one.

If the privilege is not extended, then local exports will face 9.5 per cent to 10 per cent duty on shipments to the EU, which may pose a challenge in staying competitive in the EU markets, Razzaque said.

Therefore, Bangladesh needs such an extension to go beyond 2027 even though its economy has been severely affected in the Covid-19 fallouts, he added.

The EU is set to review the existing Generalised System of Preferences (GSP) facility in 2023.

So Bangladesh needs to engage in dialogues with the EU to secure duty-free privileges for the new era past the graduation, said the PRI research director.

Razzaque made these comments while presenting a keynote paper at a virtual discussion on “getting ready for LDC graduation”, organised by Economic Reporters Forum (ERF) in collaboration with the Research and Policy Integration for Development (RAPID) and Asia Foundation.

Bangladesh should engage in lobbying with the EU so that it extends the EBA initiative by more than just a few years so that the country’s exports to the largest trade block continue without facing any interruption, he said.

Bangladesh could also lobby for the duty privileges to be removed in phases, Razzaque added.

For instance, the EU could add a 2 per cent duty in the first phase, 3 per cent in the next and so on so that Bangladesh could enjoy a smooth graduation.

Apart from the EU, Bangladesh should also hold intense negotiations with other developed countries like Australia, Canada, Japan, China, India and other GSP-providing countries.

Here, Bangladesh could engage in lobbying with India so that article 12 of South Asian Free Trade Area (Safta) is followed in case of the country’s graduation.

As per article 12, India has committed to continue its duty privileges for the Maldives even after its graduation to a developing country.

However, signing the proposed comprehensive economic partnership agreement (CEPA) with India will not be a wise decision at this moment, Razzaque said.

Similarly, Bangladesh could launch negotiations with China for the continuation of its duty-free facility for 97 per cent of goods of Bangladeshi origin even after the graduation.

“Also, signing a free trade agreement (FTA) with China could bring cheers for Bangladesh in the post LDC period as China itself is a very big consumer market for Bangladeshi products,” he said.

Once, the duty privilege to Chinese markets is withdrawn, local exporters will have to face a 17 per cent duty on exports to Chinese markets.

However, Razzaque also said it would not be wise to rush into signing FTAs or preferential trade agreements (PTA) under pressure.

“LDC graduation presents a lot of challenges but also has a lot of opportunities for the country and we have to find those opportunities,” he added.

Although signing an FTA entails 90 per cent product coverage under the agreement, Bangladesh would still have to make duty free arrangements with partnering countries.

So, if possible, the country needs to be a partner with any of the mega trade deals, such as Regional Comprehensive Economic Partnership (RCEP).

There is a possibility of signing another mega trade deal like the now defunct Trans-Pacific Partnership (TPP) in the near future.

Last year, Bangladesh gave around $600 million in direct export subsidies. Paying such subsidies on exports after the country’s graduation would be difficult. Besides, World Trade Organization (WTO) has some restrictions regarding such a decision.

So, Bangladesh should find a mechanism that allows the country to continue giving such subsidies even after the graduation, Razzaque said.

Currently, of the total revenue generated by the country each year, 30 per cent comes from import duty, as the country is highly dependent on such taxes given that it has very few FTAs or PTAs.

Bangladesh needs to manage the revenue through other measures as the country is getting ready to sign FTAs and PTAs with a few of its trading partners, according to Razzaque.

Overall, Bangladesh needs to save 10 per cent of its costs for offsetting the losses of the LDC graduation. It is possible by improving productivity, weakening the local currency against the dollar, improving the ease of doing business and technologies and logistics, he said.

Some 14 per cent of the country’s exports might be affected due to the LDC graduation, he added.

Razzaque suggested taking advantage of certain opportunities to offset the losses, such as availing funds from the LDC Fund and the Technology Bank for the LDCs and extending the Trade-Related Aspects of Intellectual Property Rights (TRIPs) up to January 2033.

Commerce Secretary Md Jafar Uddin said $7 billion worth of the country’s trade would be affected by the graduation.

However, Bangladesh has the opportunity to export $10 billion worth of halal goods if an accreditation board was formed.

“So, some $3 billion additional trade would also take place if Bangladesh begins exporting halal foods and we also have many other sectors from where we could gain a lot after graduation,” he said.

“That’s why Bangladesh should not be worried about LDC graduation,” Uddin added.

Currently, Bangladesh has been negotiating with 11 countries to either sign FTAs or PTAs.

“We need to continue negotiations with the EU to retain our trade privileges as long as possible as it is our biggest export destination,” said Planning Minister MA Mannan.

Similarly, negotiations with the UK should also be started as this is also a very important export destination, he added.

Mohammad Sirazul Islam, executive chairman of Bangladesh Investment Development Authority, urged for minimising the gap between tax and GDP as the existing 9 per cent ratio was too low even in the context of the country’s South Asian peers.

M Abu Eusuf, a professor of the department of development studies at the University of Dhaka; Kazi Faisal Bin Siraj, country representative of Asia Foundation; Sharmeen Rinvy, president of the ERF, and M Rashidul Islam, the ERF general secretary, also spoke at the event. 

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

How are HCM City locals celebrating the holiday this year? (nationthailand.com)

How are HCM City locals celebrating the holiday this year?

Dec 21. 2020Hop on – hop off bus service has been very much embraced by the public this year. — VNS Photo An Phương 

By Vietnam News, An Phương

Restriction on social contacts might have changed how HCM City locals are approaching this year’s festive season, but the “holiday spirit” has remained about the same.

Dazzling decorations can be seen at every corner in the city centre, especially at shopping malls, shops and cafes. Since safety is being prioritised, locals are advised to always carry face masks and hand sanitisers. 

The COVID-19 pandemic has changed many locals’ shopping preferences. — VNS Photo An Phương

Holiday photos 

Taking photos outside holiday setups at department stores and cafe shops has long been a “tradition” among many locals especially young people in HCM City.

“Diamond Plaza on Lê Duẩn Street and Takashimaya on Lê Lợi Street, without a doubt, have the best displays this year,” Như Phan, 24, told Việt Nam News, adding that she recently took her friends and parents to take photos for social media content.

“The number of locals visiting these places has decreased compared to years ago. I don’t exactly enjoy this atmosphere, but I’m glad to be able to take photos without fear of being pushed by other people. Not to mention, since HCM City is relatively hot, it’s cooling and convenient to take photos and shop for presents at the malls during the weekends,” she said.

Nguyễn Huệ Pedestrian Street, an affordable entertainment venue, attracts many visitors during the holiday season. — VNS Photo An Phương

The COVID-19 pandemic has affected business at these malls and many brands have been constantly offering promotions at shocking prices.

A shop owner at Takashimaya said the drop in the number of mall visitors, together with locals’ saving habits during the pandemic, had encouraged brands to think of new ways to clear their stock.

“The 11.11, Black Friday and 12.12 events were perfect occasions to host deep sales without affecting the brand’s image,” he said, adding that he felt lucky to run his business in HCM City where the pandemic has been controlled effectively.

The number of visitors to shopping malls has fallen this year because of the pandemic. — VNS Photo An Phương

In addition to clothing, popular items sold during the holiday season include home accessories and kitchen tools, particularly air fryers, coffee making machines and cold pressed juicers.

These purchases shed some light on how life changed after the lockdown this year. With a significant amount of time by themselves and their family, many locals have started to take better care of their eating habits and lifestyle in general.

Indoor gatherings

Since shopping malls and cafes are going to be very busy later this month, many young locals plan to celebrate the holiday at home.

“Dining in has its own charm, especially when it is not entirely safe heading out to crowded spots at the moment,” said Ngọc Ánh, 27, adding that her closest friends have agreed to bring their own dishes over along with some wine, card games and board games.

“Or we can easily order food from popular restaurants and have it delivered to us. Orders should be made in advance so those restaurants can save us a slot on the big day,” she said.

The Diamond Plaza retail complex on Lê Duẩn Street in District 1 in HCM City has one of the prettiest holiday displays this year. — VNS Photo An Phương

Similar to Ánh, many young working adults have been getting used to staying in since the first outbreak of COVID-19 earlier this year.

“The setting for the indoor gathering will indeed be very intimate and memorable. We have also prepared some gifts for a Secret Santa session after dinner. We hope everyone is going to have a great time,” Duy Anh, 28, said.

Watching Netflix or holding Animal Crossing parties where groups of friends gather for a movie marathon or virtual games are also very “in” this season, he added.

Affordable outings

Locals have been constantly advised to ensure social distancing, wear face masks and carry hand sanitisers in public places.

On one of the busiest streets at night, Nguyễn Huệ Pedestrian Street in District 1, people can hear instructions from loudspeakers installed along the street to follow epidemic prevention guidelines.

Later this month, the Quang Trung Pedestrian Street in District 10 will open, and is expected to attract a lot of visitors.

“The latest pedestrian street reminds me of night markets in Thailand. The layout of the street is very neat, especially the food hall area,” said Thảo Tâm, 25, who was able to experience the market during its trial phase.

“Different from Nguyễn Huệ Street, the new pedestrian street offers a variety of experiences such as dining, shopping and entertainment,” Tâm added.

Due to the impact of COVID-19, many locals nowadays prefer affordable entertainment or just wandering around casual places such as pedestrian or book streets.

“I’m not celebrating Christmas and New Year this year, as I want to make up for several months of lockdown and concentrate on work. That being said, the festive atmosphere is in the air, so it is encouraging me to do something to celebrate it. A pedestrian street has now become an easy option for those like me!” Anh Khánh, 28, said.

He also said he would try out the hop on-hop off bus service that has been very much embraced by the public this year. A 45-minute bus tour, passing by multiple attractions in the HCM City centre, costs VNĐ150,000 per person.

“HCM City is very beautiful this time around, so it is best to have a general look,” Khánh said. – VNS