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S. Korea’s current account surplus hits 3-year high in October on export recovery (nationthailand.com)

S. Korea’s current account surplus hits 3-year high in October on export recovery

Dec 04. 2020This file photo, taken June 4, shows stacks of import-export cargo containers at South Korea’s largest seaport in Busan, 450 kilometers southeast of Seoul. (Yonhap) 

By The Korea Herald/ANN

South Korea’s current account surplus hit a three-year high in October as exports showed signs of a modest recovery amid the coronavirus pandemic, the central bank said Friday.

The current account surplus reached $11.66 billion in October, widening from a surplus of $10.13 billion the previous month, according to the Bank of Korea (BOK). The current account is the broadest measure of cross-border trade.

It marked the largest surplus since September 2017.

Since the country logged a deficit of $3.33 billion in April, the largest in almost a decade, on faltering exports amid the COVID-19 pandemic, the current account has stayed in the black for six straight months.

The goods balance logged a surplus of $10.15 billion in October, larger than a surplus of $8.03 billion the previous month.

Exports, which account for half of the South Korean economy, rose 8 percent on-year to $49.85 billion in September, while imports inched up 1 percent to $37.83 billion.

Exports fell 3.8 percent on-year in October mainly due to fewer working days. 

The country’s overseas shipments have been battered by the fallout of the COVID-19 pandemic this year. But the pace of the slump has eased since June as major economies slowly began resuming business activities and easing border lockdowns.

In October, the service account, which includes outlays by South Koreans on overseas trips, logged a deficit of $660 million after suffering a shortfall of $1.72 billion in September.

A combined deficit of the service account narrowed in the January-October period from a year earlier as the pandemic disrupted demand for foreign travel.

The primary income account, which tracks wages of foreign workers and dividend payments overseas, logged a surplus of $2.45 billion in October, compared with a surplus of $1.83 billion the previous month.

The capital and financial account, which covers cross-border investments, posted a net inflow of $15.94 billion in October, compared with a net inflow of $8.91 billion the previous month.

In the first 10 months of this year, South Korea posted a current account surplus of $54.97 billion, according to the BOK. (Yonhap)

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After thaw in relations, Nepal prepares wishlist for trade and transit talks with India (nationthailand.com)

After thaw in relations, Nepal prepares wishlist for trade and transit talks with India

Dec 03. 2020A file photo shows cargo trucks lined up on the bridge over Mechi River. Post Photo 

By Anil Giri
The Kathmandu Post/ANN

Nepal wants greater access for its agricultural produce to the Indian market, convenience in passage of goods through Kolkata port, and transport of goods through waterways, among others.

With the resumptions of high-level visits between Nepal and India, the two countries are now planning to resume several trade, transit and connectivity talks stalled due to the Covid-19 pandemic and the frosty relations over the boundary dispute.

Nepali officials said that starting December, more than half a dozen bilateral talks concerning trade and transit, commerce, infrastructure, water resources and boundary working groups, are on the pipeline, mostly through virtual meetings. The dates for a few meetings are yet to be announced.

In connectivity, the high-level meetings will discuss and negotiate on agendas like upgradation of link roads for cross-border trading, amendments to the agreements on railway services, revision to the Nepal-India Transit Treaty to fix the modality of inland waterways and transshipment facilities from all sea ports.

The construction of cross-border railways at various points and negotiations on non-reciprocal preferential treatment for agricultural products are the key agendas Nepal plans to table, officials said.

At least two senior government officials whom the Post talked to said that ahead of the Sixth Meeting of Nepal-India Joint Commission at the foreign ministers’ level, both sides are scheduled to conclude key meetings on trade and transit, commerce, infrastructure, and water resources, among others.

The joint commission meeting is scheduled to take place in New Delhi. The date, however, is yet to be fixed.

“We have almost agreed to amend the Nepal-India Transit Treaty, which we were waiting for its formalisation through the letters of exchange,” Prakash Dahal, spokesperson for the Ministry of Commerce and Supplies, told the Post. “We have also agreed to amend the agreements on railway services.”

While the commerce secretary level meeting is scheduled for December 6, another joint steering committee meeting of energy secretaries has been planned for the second week of December, two Nepali officials privy to the matter told the Post.

Before the intergovernmental meeting at the commerce secretary level, the two-day joint secretary level meeting has been scheduled for Thursday through the virtual mode.

The Cabinet meeting last Wednesday had given the approval in principle for the Ministry of Industry, Commerce and Supplies to form the delegation to the meeting from the Nepali side.

An official preparing the agenda told the Post that Nepal is looking to negotiate a “huge concession” in trade and transit sectors with the southern neighbour since Nepal wants greater access to India for agricultural goods.

One agenda is direct transshipment of Nepal-bound cargo from the third countries via Kolkata port in India.

Nepal has been receiving transshipment privileges at Visakhapatnam port and using the electronic tracking system on cargo dispatched from there since August last year. Containers sent from Visakhapatnam are transported directly to the Birgunj Inland Container Depot.

However, at present importers have to produce letters of credit and paperwork issued by the Department of Commerce and the Nepali Consulate General, among others, to get customs clearance at the Indian port. No such documentation is needed at Visakhapatnam port.

The transshipment privileges will enable Nepali importers to complete the customs procedure in the final destination like Birgunj, Biratnagar or Bhairahawa and reduce hassles.

Further, as traders exporting Nepali agricultural products are facing problems from time to time, there will be negotiations for Nepali agricultural goods’ greater access to India, the officials said.

“We have been receiving preferential treatment for industrial products as of now. But in agriculture products too, we are seeking non-reciprocal treatment,” an official said.

“It’s because Nepali farm products cannot compete with Indian products largely because Indian agriculture goods are relatively cheaper due to high subsidies that the Indian government has been offering to the farmers to boost production.”

Nepal’s agricultural goods import bill crossed Rs250 billion last fiscal year. Most of the agricultural products are imported from India.

Former commerce secretary Purusottam Ojha said since Nepal has a widening trade gap with India, there are some issues that Nepal should particularly pursue during negotiations like easing the non-tariff barriers, simplifying the issue of rules of origin, quarantine among.

“We have to amend the Nepal-India Transit Treaty to fix the modality of inland waterways. The issues regarding the riverian ports that Nepal can use for inland waterways should be fixed,” said Ojha.

On the issue of development of inland water navigation facilities, India agreed in March last year to incorporate in the bilateral trade and transit treaties for third country trade via India Nepal’s proposal to extend inland waterway facilities up to its nearest navigation points.

During Prime Minister KP Sharma Oli’s visit to India in April 2018, both sides had agreed to explore the possibility of inland waterways via India and assigned officials to carry out the feasibility study.

Nepal has identified two Indian transit points for inland water navigation: Sahibganj (Jharkhand) and Kalughat (Bihar) via Haldia port up to the Nepali border from Koshi and Narayani (Gandak in India) rivers respectively.

“We have other issues like upgrading major trading points between Nepal and India,” an official at the Ministry of Commerce and Supplies said. “Infrastructure across major trading points is very poor and we need to link our transportation facilities to major Indian national and state highways so that transportation of goods would not consume a lot of time.”

According to the officials, they have agreed to construct more cross-border railway facilities besides the existing Janakpur-Jaynagar route. Another official at the Ministry of Commerce and Supplies said that the present cargo rail service agreement allows shipping goods only up to the integrated check posts in Birgunj.

“To access these facilities by other trade routes and integrated check posts, we have to amend the rail service agreement,” said the official.

The construction of the integrated check post was completed in Biratnagar recently through financial assistance by the Indian government. Another facility will be constructed in Nepalgunj.

Nepal is also looking for Indian assistance to construct another integrated check post at Chandani-Dodhara of Sudurpaschim Province in Kanchanpur district. A four-lane road is under construction near Banbasa area to link with Indian national highway that is expected to boost trade and commerce of that region, the official added.

India has already agreed to provide its two sea ports to Nepal—Dhamra in Odisha and Mundra in Gujarat—for third country trade but both sides have yet to complete the process through a letter of exchange. As of now, Nepal has been using Haldia in Kolkata and Visakhapatnam in Andhra Pradesh. The new agreement means Nepal can use four Indian sea ports for third country trade.

“On the issue of amending Trade Treaty, we have yet to resolve several issues but they are on the table. Issues related to trade come from various stakeholders so its details are being worked out. We have yet to share our agenda with the Indian side and receive theirs,” said Dahal.

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[Vietnam] International flights to be suspended for violations on COVID-19 prevention (nationthailand.com)

[Vietnam] International flights to be suspended for violations on COVID-19 prevention

Dec 03. 2020Crew members and passengers from a flight are taken to a quarantine site as per the regulations on COVID-19 prevention. — VNA/VNS Photo Thành Đạt 

By Viet Nam News/ANN

HÀ NỘI — Local carriers will have to suspend international flights if flight crew members violate regulations on medical isolation and COVID-19 prevention.

The statement was issued by Deputy Minister of Transport Lê Anh Tuấn in an urgent document sent to the Civil Aviation Authority of Việt Nam and local carriers.

In the document, the Ministry of Transport told the Civil Aviation Authority of Việt Nam and local carriers including Vietnam Airlines, Vietjet Air, Bamboo Airways and Pacific Airlines to enhance COVID-19 prevention among crew members on international flights.

According to the minister, the risk of infection on flights welcoming citizens, experts, investors and high-tech workers from countries where COVID-19 has not been controlled, is very high. 

In order to strengthen the prevention of COVID-19, the ministry asked the Civil Aviation Authority of Việt Nam and local carriers to continue strictly complying with regulations of the National Steering Committee on managing crew members to prevent infections being carried on vehicles and drivers at checkpoints along roads, railways, waterways and air routes.

The Ministry also requested the strengthening of measures to prevent and control COVID-19 transmission among crew members during flights.

For pilots on flights to bring citizens, experts, investors and high-tech workers to Việt Nam, the ministry told them to continue strictly implementing preventive measures, and ensure there is no contact with passengers on the flight and the rest of the crew as well as with local ground staff at foreign airports.

Flight attendants and other crew members (technical and ground staff) travelling with the same flight are required to wear the same protective clothing as the pilot; minimise contact with passengers; not contact the pilot on the flight or local ground staff at foreign airports.

Airlines are also asked to regularly conduct hygiene and disinfection of potentially infectious locations on flights and sterilisation of aircraft carrying international passengers at the place of entry; strictly implement isolation at home and quarantine in accordance with instructions. — VNS

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Chinese COVID vaccine has ‘appeal’ for developing countries: Economist (nationthailand.com)

Chinese COVID vaccine has ‘appeal’ for developing countries: Economist

Dec 03. 2020FILE PHOTO: A display shows packages of vaccine candidate for SARS-CoV-2 by Sinovac Biotech in Beijing, China, September 24, 2020. [Photo/Agencies] 

By China Daily/ANN

Developing countries may face a long wait if they want a vaccine made in the West, but there’s always the option of turning to China, an economist from the Development Bank of Singapore said.

“Considering the billions of doses needed, and the risk [of] falling at the back of a very long line for Western vaccines, the appeal of the Chinese vaccines is apparent,” Taimur Baig, chief economist and managing director at DBS Group Research, said in a note to US business news channel CNBC.

China has five homegrown vaccine candidates in phase three trials, according to the Ministry of Foreign Affairs. That’s usually the last step before government regulators vet the vaccine for approval.

Sinopharm, or China National Pharmaceutical Group, submitted an application to Chinese authorities last week seeking approval. The firm has two vaccine candidates.

Sinovac Biotech, another vaccine developer, said the company’s partners in Brazil, Indonesia and Turkey have established monitoring systems for adverse reactions in accordance with internationally accepted standards. So far, no severe adverse reactions related to COVID-19 vaccines have been reported.

Beijing has already promised its vaccine will be supplied to developing countries in priority as a public good after research and development is complete and the vaccine is available.

Beijing also joined Covax, a vaccine alliance backed by the World Health Organization, which seeks to grant equal access to all participating countries when a vaccine is developed. The goal is to provide a lifeline to lower-income countries that would not have been able to afford these vaccines otherwise.

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PM Lee, Muhyiddin discuss KL-Singapore High Speed Rail project ahead of Dec 31 deadline (nationthailand.com)

PM Lee, Muhyiddin discuss KL-Singapore High Speed Rail project ahead of Dec 31 deadline

Dec 03. 2020Photo: Lee Hsien Loong’s facebook. 

By The Straits Times/ANN

SINGAPORE – Prime Minister Lee Hsien Loong and Malaysian Prime Minister Muhyiddin Yassin had a discussion over video conference on Wednesday (Dec 2) on the Kuala Lumpur-Singapore High Speed Rail (HSR) project, both leaders said in a joint statement.

They took stock of the progress of discussions on the project, and gained a good understanding of Malaysia’s and Singapore’s respective positions, the Prime Ministers added.

Their discussion comes ahead of the Dec 31 deadline for the second and final extension of the suspension of the bilateral project.

“Both sides will announce further details on the HSR project through a joint statement in due course,” the leaders said in their statement.

“Both Prime Ministers also reaffirmed the strong bilateral relations between the two countries covering many areas of cooperation and the sincere desire to further strengthen these relations for mutual benefit,” they added.

Their joint statement comes in the wake of remarks by both countries on discussions over changes to the project, which was first announced in 2010.

The proposed 350km line would cut travel time between the two cities to 90 minutes, compared with over four hours by car.

Last Wednesday, a spokesman for Singapore’s Ministry of Transport (MOT) said Malaysia had proposed some changes to the HSR project, adding that Singapore has been discussing them in good faith with Malaysia.

Last Friday, Malaysia’s Economic Affairs Minister Mustapa Mohamed said the Malaysian government had yet to finalise plans for the HSR project.

He said Malaysia had made several new proposals to “improve” the project, and was still in the process of negotiating these with Singapore.

The remarks come after a news report by Malaysian website Free Malaysia Today last week claimed KL was considering changes so that the line ends in Johor Baru and not Singapore, a move that would call into question the sustainability of the project.

In response to the report, the Singapore MOT spokesman said last week that Singapore continues to believe that the HSR project is beneficial for both countries, and remains fully committed to fulfilling its obligations under the HSR bilateral agreement.

“We will make our best efforts to conclude discussions with Malaysia by Dec 31, 2020,” the spokesman said, adding that if, by Dec 31, Malaysia does not proceed with the project, it will – under agreements between both countries – bear the agreed costs incurred by Singapore in fulfilling the HSR bilateral agreement.

Both countries signed the bilateral agreement, a legally binding international pact, in Putrajaya in December 2016, witnessed by PM Lee and then Malaysian PM Najib Razak.

But after a change of government following the 2018 Malaysian general election, then PM Mahathir Mohamad initially wanted to scrap the HSR as part of a review of mega projects.

The Pakatan Harapan administration later clarified that it wanted to delay the start of construction, as a cancellation would have entailed a high amount of compensation under the HSR agreement.

Both countries then agreed to suspend the project, at Malaysia’s request.

The first extension in September 2018 ended in May this year, but the suspension was extended for a second and final time, till Dec 31.

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S. Korea confirms highly pathogenic avian influenza case from wild birds (nationthailand.com)

S. Korea confirms highly pathogenic avian influenza case from wild birds

Dec 03. 2020A quarantine official bans the entry of automobiles into a farm in Sangju, 270 km southeast of Seoul, after it reported a highly pathogenic avian influenza case from chickens. (Yonhap) 

By The Korea Herald/ANN

South Korea on Thursday confirmed another case of highly pathogenic avian influenza in wild birds, with local authorities raising their guard against its transmission into poultry farms.

The latest case came from wild birds in Buan, 280 kilometers south of Seoul in North Jeolla Province, raising the total bird flu cases here since October to 13, according to the Ministry of Agriculture, Food and Rural Affairs.

The country is currently carrying out investigations on droppings of wild birds gathered from Suncheon, 415 km south of Seoul as well. It takes a few days to find out whether they are highly pathogenic.

“The virus can be transmitted through various means, including cars, people and wild birds. Local poultry farms need to carry out thorough preventive measures, including wearing different shoes for each shed,” a ministry official said.

Highly pathogenic avian influenza is highly contagious and can cause severe illness and even death in poultry.

South Korea reported its first highly pathogenic AI case in 32 months in late October from Cheonan, 92 km south of Seoul.

Since, the country also saw two cases from local poultry farms.

The first case was reported at a duck farm in Jeongeup of North Jeolla Province on Saturday, followed by the second infection from an egg farm in Sangju, 270 km southeast of Seoul on the previous day.

Local authorities are currently culling poultry within a 3-km radius of infected farms. (Yonhap)

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EU helps set up online customs transit system to boost ASEAN trade (nationthailand.com)

EU helps set up online customs transit system to boost ASEAN trade

Dec 02. 2020The ASEAN Customs Transit System has been launched, and offers an online customs transit management system for Southeast Asia. — Photo Courtesy ASEAN Customs Transit System 

By Viet Nam News/ANN

JAKARTA — The online ASEAN Customs Transit System was launched yesterday to accelerate trade in goods by road within Southeast Asia.

Being developed with the support of the European Union, ACTS is simplifying the movement of goods across the region, making it more efficient and cost-effective. 

Following trials in Cambodia, Laos, Malaysia, Singapore, Thailand, and Việt Nam, the system has now been formally launched.

The first successful ACTS transit movement occurred on October 23-24 when a truck travelled from Singapore via Malaysia to Thailand. 

The system will soon be available in Myanmar, and, depending on business needs, may later be expanded to Brunei, Indonesia and the Philippines.

Now transporters can make a single customs transit declaration that covers the transport of goods across multiple countries, without the need to make repeated customs declarations or change vehicles at each border. 

Special arrangements allow reliable traders to load their goods at their own premises in the country of departure, and to deliver the goods to their own premises at other places.

Faster customs clearance at borders helps accelerate transit and reduce the time and expenses needed for carrying out regional trade in goods.

Dato Lim Jock Hoi, the secretary-general of ASEAN, said: “The implementation of the ASEAN Customs Transit System plays a vital role in facilitating seamless movement of goods in the region. I believe the system will be an excellent tool in enhancing ASEAN’s trade and production networks as well as establishing a more unified market for its firms and consumers.

“ACTS could also support post-COVID recovery to accelerate the transit movement of medical supplies, vaccines and personal protective equipment within the member states.” 

The system is managed by a permanent ACTS central management team based in the ASEAN Secretariat in Jakarta, Indonesia, with support from the EU-funded ARISE Plus programme.  

In 2017 ASEAN economic ministers set the twin goals of reducing trade transaction costs by 10 per cent by 2020 and doubling intra-ASEAN trade between 2017 and 2025. ACTS has been developed to realise this goal to allow businesses to lodge e-transit declarations directly with ASEAN customs authorities and track the movement of their goods from loading to delivery. 

” ACTS is a remarkable achievement that is testament to the strong, dynamic and long-standing partnership between ASEAN and the European Union,” Koen Doens, director general for international co-operation and development at the European Commission, said. 

“The EU is proud to have joined ASEAN to make ACTS a reality, providing European technical expertise and 10 million euros since 2012.”

ARISE Plus has provided extensive ACTS training for stakeholders in the public and private sectors, including customs authorities, government transport agencies, freight forwarders, transporters, banks, and insurance companies.   — VNS

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China refutes Australia’s claim of tweeting ‘fake image’ (nationthailand.com)

China refutes Australia’s claim of tweeting ‘fake image’

Dec 02. 2020In this undated file photo, Foreign Ministry spokesperson Hua Chunying addresses a press briefing in Beijing. (PHOTO/CHINA DAILY) 

By China Daily/ANN

BEIJING – A Chinese foreign ministry spokesperson on Tuesday refuted Australia’s accusation that a Chinese official had tweeted a “fake image” about the Australian military’s atrocities committed in Afghanistan.

“The accusation is false in itself as the image was never a real one, but a computer-generated illustration by a young artist. The concept is completely different,” spokesperson Hua Chunying told a routine press briefing, adding that the Australian side was trying to shift blames by hyping up the issue.

She pointed out that the image was based on a confirmed inquiry report by the Australian Defence Force (ADF). “Although it is an illustration, it reflects facts.”

On Nov 19, the ADF released the findings of the inquiry that heard testimonies from more than 400 witnesses. The inquiry found that “credible evidence” proved that special-forces soldiers murdered 39 prisoners, farmers and civilians during the war in Afghanistan.

Citing an interview of the image’s creator, Hua said what Australian soldiers had done was much more brutal than what’s been portrayed in the image.

When dealing with issues involving China, some people always insist on the “I can, but you are not allowed” mentality, Hua said.

She cited examples from the fields of technology and economy: “I can have the 5G, but you are not allowed”; “I can take you down economically, but you are not allowed”; and “I can openly criticize you, but you are not allowed.” 

Such an attitude reveals the arrogance and hypocrisy of some people and exposes the real purpose, which is to deprive China’s right to speak out the truth, the spokesperson said.

“I hope these people can view China and China’s development calmly and rationally, take constructive actions and work with China to resolve differences, and jointly maintain the healthy development of bilateral relations,” said Hua. 

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HK-S’pore travel bubble deferred anew as HK sees 82 new cases (nationthailand.com)

HK-S’pore travel bubble deferred anew as HK sees 82 new cases

Dec 02. 2020

By Wang Zhan
China Daily/ANN

HONG KONG – Hong Kong’s air travel bubble with Singapore has been postponed until next year as the special administrative region reported 82 new COVID-19 cases on Tuesday.

The Commerce and Economic Development Bureau said in a statement that the governments of the Hong Kong Special Administrative Region and Singapore will review the arrangement in late December. 

The decision to defer further the travel bubble, which should have been launched on Nov 22, was made due to Hong Kong’s worsening local outbreaks, which saw a large number of untraceable cases.

Out of the 82 new cases on Tuesday, 72 were local infections and 23 of them were of unknown origin, said Chuang Shuk-kwan, head of the Centre for Health Protection’s communicable disease branch.

Thirty-two belonged to dance club cluster, which now has 552 patients.

Chuang also said that at least 60 people tested preliminarily positive as the city’s tally of confirmed cases reached 6,396.

A new small outbreak emerged at a construction site of Lohas Park, a private housing project in Tseung Kwan O, as three workers were confirmed as infected and eight others tested preliminarily positive, according to Chuang. More than 900 workers at the same site need to undergo testing.

Like in previous outbreaks, the virus had also been detected in care homes across the city. 

Among the preliminary cases, eight involved patients living at Tung Wah Group of Hospitals Fong Shu Chuen Care & Attention Home in Shau Kei Wan. Two residents and three workers at the center had been confirmed as infected.

Two workers and a resident at Tung Wah Group of Hospitals Ho Yuk Ching Willow Lodge in Tai Kok Tsui were also found to be infected.

On the other hand, Pak Lok Nursing Home in San Po Kong has one resident infected, while around 50 workers and residents had to be quarantined.

Meanwhile, Shenzhen’s health authorities confirmed an imported case from Hong Kong on Tuesday. The patient is a 60-year-old driver of cross-boundary container trucks.

The man developed a cough on Sunday and tested positive for the coronavirus the next day when he crossed into Shenzhen. He had tested negative in five previous tests conducted from Nov 20 to 28. A total of 52 people in Shenzhen were quarantined.

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[South Korea] PM says No. of quarantined people tops 70,000 amid rapid virus spread (nationthailand.com)

[South Korea] PM says No. of quarantined people tops 70,000 amid rapid virus spread

Dec 02. 2020Prime Minister Chung Sye-kyun presides over a meeting of the Central Disaster and Safety Countermeasure Headquarters at the government complex in Seoul on Wednesday. (Yonhap) 

By The Korea Herald/ANN

Prime Minister Chung Sye-kyun said Wednesday that the number of those quarantined at home in South Korea due to COVID-19 has soared to an all-time high level of over 70,000 and asked the public to cooperate with the government’s antivirus measures.

“Transmissions are continuing in all places, with the number of quarantined people soaring above 70,000 to reach an all-time high level since two days ago,” Chung said during a meeting of the Central Disaster and Safety Countermeasure Headquarters at the government complex in Seoul.

Chung stressed that the upcoming weekend would serve as a critical juncture in determining whether new cases continue to rise or subside.

He asked for the public to adhere more strictly to tightened social distancing rules, explaining that the latest virus wave is difficult to control by government measures alone, as transmissions were reportedly occurring virtually in all places.

“We ask that you cooperate with the thought that all people are the principle agents of the country’s antivirus measures,” Chung said.

The prime minister also wished good luck to those scheduled to take the College Scholastic Ability Test (CSAT) on Thursday and requested education officials do their utmost to ensure the safety of test takers at nationwide venues.

Around 490,000 high school seniors, graduates and others plan to take the CSAT amid a sharp increase in the number of coronavirus infections across the country.

That includes 21 COVID-19 patients and 144 people in self-quarantine, according to Nov. 26 data from the education ministry. Hospital beds have been set up for up to 172 COVID-19 patients and special test centers for up to 3,800 people in self-quarantine. (Yonhap)