Monday, December 10, 2007

Thanks for worrying, but we’re just fine

Two things would seem to be conspiring against the rise of India this year: the U.S. mortgage meltdown, and economists’ worries over China’s overheating market.
After all, a reduction in U.S. spending power and the genuine concerns over China’s unbridled growth would inevitably lead to economists worrying that India’s similar hot-as-lava economy might suffer.
But this is a new world. One in which things don’t revolve solely around America and its economy (E. Johnson, American Shipper Namaste, December 6, 2007).Click on the Link for complete article and visit www.nkita.blogspot.com to read similar postings.

Wednesday, November 28, 2007

EU AND IRAQ HOLD THIRD ROUND OF NEGOTIATIONS FOR A TRADE AND COOPERATION AGREEMENT

The European Union and Iraq are holding the third round of negotiations for a Trade and Cooperation Agreement (TCA) in Brussels, November 27-29. The negotiations cover energy, environment, some trade provisions, human rights, science and technology, security, weapons of mass destruction and counterterrorism (WMD). The agreement will progressively strengthen the EU’s relations with Iraq and help integrate the country in the world economy (European Union, Delegation of the European Commission to the USA). Click on the Link for complete article and visit www.nkita.blogspot.com to read similar postings.

Friday, November 16, 2007

Seeting up your business operations in Hong Kong?

Learn about requirements and process to set up different forms of business in Hong Kong. Analysis is given on the advantages and disadvantages of each form of business. Contacts for registration and application procedures and further reference sources are also included. Click on the Link for complete information.

Thursday, November 15, 2007

China's E-Tail Awakening

New online-payment systems are drawing wary consumers into the world of Web commerce (B. Einhorn and Chi-Chu Tschang, BusinessWeek, November 8, 2007). Click on the Link for complete article

Giving Thanks for New Market Opportunities

Under the U.S.-Korea FTA, U.S. exports of traditional Thanksgiving foods could expand greatly:

Turkey
Korea's frozen turkey market is valued at almost $4 million. The United States is already the largest supplier of turkey parts to Korea. Under the U.S.-Korea FTA the current 18 percent tariff applied to these products will be eliminated over seven years.

Cranberries
International demand for U.S. cranberries is growing. The elimination of Korea's 45 percent tariff on cranberries within 10 years of the FTA's implementation will further bolster U.S. cranberry farmers' foreign market shares.

Carrots, Celery, Cauliflower and Broccoli
The 27 percent tariff on U.S. celery exports to Korea will be eliminated immediately after the agreement is entered into force. Similar Korean tariffs on U.S. carrots, broccoli, and cauliflower exports will be phased out over five years

Pumpkins and Sweet Potatoes
U.S. pumpkins exported to Korea will face zero tariffs immediately. Sweet potatoes will be included in a tariff rate quota system, which will phase out all Korean trade barriers to sweet potatoes within 15 years.

Happy Thanksgiving from the U.S.-Korea FTA Business Coalition!

For more information on the U.S.-Korea FTA Business Coalition please visit www.uskoreafta.org

Thursday, November 8, 2007

EU Commissioner Mandelson Says EU-U.S. Ties Should Serve "Equitable Globalization"

In a speech at the Carnegie Endowment in Washington, EU Trade Commissioner Peter Mandelson today said that the European Union and the United States must use their collective economic weight to underwrite the openness of the global economy as it adjusts to the rise of new economic powers and greater global flows of investment,(European Union, Delegation of the European Commission to the United States).
Click on the Link for complete article

Tuesday, November 6, 2007

Vital Signs: Exports, Productivity Should Boost Growth

On tap: September foreign trade, October service-sector activity, third-quarter labor productivity, November consumer sentiment (J. Mehring, BusinessWeek, November 1, 2007). Click on the Link for complete article

Monday, November 5, 2007

Trade Mission Available: South America (Ohio companies only)

The Ohio Department of Development invites you to take part in a three-country trade mission to Santiago, Chile; Buenos Aires, Argentina; and São Paulo, Brazil from April 19-29, 2008. The mission will be led by the Department’s International Trade Division, in partnership with the Council of Great Lakes Governors, whose member states include Minnesota, New York, Wisconsin, and Ohio. The purpose of this mission is to assist small- to medium-sized companies from the Great Lakes region to export their products and services to these rapidly-growing markets. The mission’s agenda includes business appointments and receptions. For more information, please contact Deborah Scherer, Director, Ohio Department of Development, International Trade Division, Ph: 614-466-5363. Read More

Friday, November 2, 2007

The New Supply Chain

How netowrk shift and other forces are changing the rules for domestic freight transportation providers - and what to do about it (Merge Global Forecating Team, www.americanshipper.com). Read the entire report

Trading Up: How Expanding Trade Has Delivered Better Jobs and Higher Living Standards for American Workers

Opponents of trade liberalization have sought to indict free trade and trade agreements by painting a grim picture of the economic state of American workers and households. They claim that real wages have been stagnant or declining as millions of higher-paying middle-class jobs are lost to imports. But the reality for a broad swath of American workers and households is far different and more benign (D.Griswold, Center for Trade Policy Studies, October 25, 2007). Read More

Thursday, November 1, 2007

ITC RELEASES REPORT ON U.S. INDUSTRY PRODUCING TRAVEL GOODS OF TEXTILE MATERIAL

The U.S. International Trade Commission (ITC) today released its report on the level of U.S. production and shipments of travel goods of textile materials.

The report, Certain Textile Articles: Travel Goods of Textile Materials, was requested by the U.S. House of Representatives' Committee on Ways and Means.

As requested, the ITC provided data for 2005 and 2006 on U.S. production and shipments of travel goods with an outer surface of textile materials and the textile materials used to make them (U.S. International Trade Commission (ITC), 10/31/2007).Download the full report

Wednesday, October 31, 2007

Baseball, Apple Pie...and Mahindra?

How an Indian company plans to woo America's heartland with its fuel-efficient SUVs and pickups (D. Kiley, BusinessWeek, October 25, 2007). Read More

World Investment Report 2007 now available

World Investment Report 2007 (WIR07) is the seventeenth in a series published by the United Nations Conference on Trade and Development (UNCTAD). The Report analyses the latest trends in foreign direct investment (FDI) and puts a special focus in 2007 on the role of transnational corporations (TNCs) in the extraction of oil, gas, and metal minerals (United Nations Conference on Trade and Development, www.unctad.org).Click here to download the full report.

Friday, October 26, 2007

Huge demand for aids for disabled in China

There are more than 70 million disabled people in China, with 8.7 million of them with physical difficulties and 20.5 million with hearing and speech disabilities. To cater for the growing demand for aids and rehabilitation devices for the disabled, factories producing these types of products have mushroomed over recent years (Hong Kong Trade Development Council, International Market News, October 26, 2007). Read More

Tuesday, October 23, 2007

Rethinking the Office Environment

Savvy employers are realizing the importance of balancing the corporate workspace with areas for fun and relaxation (BusinessWeek, October 15, 2007). Read More

Monday, October 22, 2007

European Commission Ensures Compliance with 2004 Decision against Microsoft

The European Commission stated today that Microsoft had agreed to comply with its obligations under the 2004 Commission antitrust decision — the terms of which require Microsoft to provide information allowing third party developers of work group server operating systems to develop products that interoperate with the Windows desktop operating system. Read More

What if the hong Kong Stock Exchange would merge with the bourses in Shanghai and Shenzen?

One of the most audacious proposals in global finance. An integrated finanancial operation, a megabourse, for local and global investors. This institution would allow broad access to Chinese equities. However, the integration of currencies and vastly different legal systems and regulatory regimes would take years to be solved. Read More

Thursday, October 18, 2007

Singapore-Sidney: Airbus A380 is finally in Business

Are you ready for a new flying experience? Would you like to be pampered in designer linens and dine with Givenchy silverware in your private suites furnished with Salvatore Ferragamo? Try the new airbus A380. Even in economy class, every passenger, you can take advantage of USB ports at every seat and choose from 100 movies to watch. Manufacturer insists, "a whole new way of flying". Book your ticket! Read More

Article posted by Daniele s. Longo, VP Business Development and International Trade, Northern Kentucky Chamber of Commerce

Wednesday, October 17, 2007

Global Competitiveness Report 2007-2008 to be released on October 31, 2007

The Report will include The Global Competitiveness Index featuring the 12 pillars of competitiveness, The Business Competitiveness Index, detailed country profiles and data tables covering more than 100 social and economic indicators.
Read More

Signs of a slowdown in Britain

The U.S. subprime crisis continues to influence the economies overseas. In Great Britain scales back growth forecasts (BusinessWeek, European Edition, October 9, 2007). Read more

Monday, October 15, 2007

27-30 October 2007 - Asia World Expo - Hong Kong

Eco Expo Asia was launched in 2006 as an international trading platform providing environmental solutions at every level. The inaugural event showcased 128 exhibitors from Hong Kong, China mainland, North America, Europe, Scandinavia, and North and South Asia.

The 2007 edition of the Asia World Expo will enable buyers to see the most recent developments in the field of environmental protection. Exhibitors will be able to show the most recent products, services and technologies. Read More

Tuesday, October 9, 2007

Firing Up India's Factories

For big manufacturers, the subcontinent is becoming an alternative to China (Kripalani M., BusinessWeek, October 08, 2007).
Read More

Monday, October 8, 2007

U.S. Chamber replies to general skepticism on Free Trade Agreements

Bill Miller, senior vice president of Political Affairs and Federation Relations, on October 4th, 2007 spoke on CNBC’s “Street Signs” in response to last Thursday’s Wall Street Journal article noting recent shifts regarding globalization and citing a majority of Republicans (59%) who now view free trade negatively.

To view the video stream, go to http://www.cnbc.com/id/15840232?video=544642015.

Miller pointed out the importance of free trade in keeping our economy globally competitive, despite recent safety concerns with imports and economic anxieties. As Miller said, “We're living in the 21st century and have to either take advantage of globalism as it exists, or walk away and let other people step up.” CNBC anchor Erin Burnett noted one in five manufacturing jobs and one in three farming jobs in the U.S. wouldn’t exist without exports.

As Miller said, “We can't lose focus on the fact that 95% of the world's consumers live outside of America.” He also stressed the importance of non-partisan collaboration to push pending free trade agreements forward.

U.S. Chamber division TradeRoots works daily in Washington and throughout the country to raise public awareness about the importance of international trade to local communities. Through partnerships with associations, local chambers of commerce, economic development groups, and the business community, TradeRoots promotes the Chamber’s message of free enterprise and individual opportunity to local communities across the country. For more information visit http://www.uschamber.com/international/traderoots/default.

View Bill Miller's CNBC appearance at http://www.cnbc.com/id/15840232?video=544642015.

Friday, October 5, 2007

Webcast - Hong Kong at global apex for market regulation (03/10/2007, English)

Speaker(s): Martin Wheatley, Chief Executive Officer, Securities and Futures Commission

Courtesy of tdcTrade.com

Click here to open the Webcast.

Firing Up India's Factories ( BusinessWeek Onsider Newsletter, October 5, 2007)

For big manufacturers, the subcontinent is becoming an alternative to China.
Read More

Thursday, October 4, 2007

Pakistan joins ATA Carnet system

The ATA Carnet system is fully operational in Pakistan since the 1st of October 2007. Pakistan is the latest country to join the ATA Carnet system, which permits duty-free and tax-free temporary imports of goods. Pakistan is the 65th country to join since the system’s inception over 44 years ago. Read More

U.S.-Korea Free Trade Agreement: Potential Economy-wide and Selected Sectoral Effects

The U.S. International Trade Commission announces the release of

U.S.-Korea Free Trade Agreement: Potential Economy-wide and Selected Sectoral Effects. The ITC’s report examining the bilateral free trade agreement (FTA) that the President has entered into with Korea provides an assessment of the likely impact of the FTA on the U.S. economy and on specific industry sectors and consumers. Read More

Wednesday, October 3, 2007

CAFTA-DR COUNTRIES LEAVE CBERA, ITC FINDS REDUCED IMPACT

The value of U.S. imports receiving benefits under the Caribbean Basin Economic Recovery Act (CBERA) fell from $12.3 million in 2005 to $9.9 million in 2006, mainly because four Central American countries El Salvador, Guatemala, Honduras, and Nicaragua left the CBERA when the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) entered into force during 2006, reducing the impact of the CBERA on U.S. industries and consumers, reports the U.S. International Trade Commission. Read More

Tuesday, October 2, 2007

Business Case: Travelocity

When a misprinted fare—Fiji for $51—got snapped up by hundreds of travelers, Travelocity CEO Michelle Peluso had to decide whether to honor the fare at a cost of almost $2 million or run the risk of damaging the company's customer-friendly branding campaign (BusinessWeek, September 23, 2007). Read More

India's Cell-Phone Ride Out of Poverty

Struggling artisans and tradespeople in rural India are finding that mobile phones are their ticket to better sales and better lives (BusinessWeek, September 14, 2007). Read More

China and India's Top Tech Companies

Led by China Mobile and Bharti Airtel, eight tech players from Asia's top emerging markets rank among the BusinessWeek IT 100 (BusinessWeek, September 20, 2007, By Bruce Einhorn). Read More

Shakeup in Beijing: Who's In, Who's Out

It will soon be time for China's Communist Party Congress and the jockeying for position that happens every five years. Here's what to look for (BusinessWeek Online, September 20, 2007, By Chi-Chu Tschang). Read More

China's Rising Leaders (BusinessWeek, September 20, 2007)

Beijing's next cadre is market-smart, business-savvy—and perhaps even open to change. Read More

US-Korea Free Trade Agreement

The U.S.-Korea Free Trade Agreement (FTA) was signed on June 30, 2007. This report is
intended to provide an overview of the benefi ts of the U.S.-Korea FTA for the U.S. economy and its importance for promoting broader U.S. foreign policy goals and economic competitiveness in Asia. Read more

Monday, October 1, 2007

World Bank’s Latest “Doing Business” Report now available

The report measures the time and the costs involved with setting up, running and closing a business in 178 countries around the world. Read more

Thursday, September 13, 2007

Manufacturing Inroads into Korea's Market

Korea's average tariff rate on non-agricultural U.S. goods is 7 percent. The U.S.-Korea FTA will remove these tariffs and open Korea - a country that imported more than $300 billion in goods globally last year - almost completely to U.S. manufactures.

U.S. manufactured goods that will enter 100% duty free under the U.S.-Korea FTA

Immediately: In 5 Years, All:
Agricultural Equipment Auto Parts
Construction Equipment Building Products
Furniture Consumer Goods
Toys Metals & Ores
Footwear & Leather Products
Paper & Paper Products


In 3 Years, All: In 10 Years, All:
Aircraft Equipment Chemicals
Scientific Equipment Electrical & Electronic
Shipping and Transportation Equipment
Environmental Goods
Infrastructure & Machinery
Medical Equipment

Korea imported $32 billion in U.S. goods in 2006. However, U.S. manufacturers' share and presence in the Korean market has declined 7 percent since 2001 as competition from other countries has grown. The U.S.-Korea FTA can change this trend. The elimination of Korean tariffs on U.S. manufactured goods will give U.S. manufacturers a sizeable advantage over competitors in the Korean market.

Wednesday, September 12, 2007

U.S.-Panama Trade Promotion Agreement

The U.S. International Trade Commission announces the release of the U.S.-Panama Trade Promotion Agreement: Potential Economy-wide and Selected Sectoral Effects.

The ITC’s report assessing the bilateral trade promotion agreement (TPA) that the President has entered into with Panama provides an assessment of the likely impact of the TPA on the U.S. economy and on specific industry sectors and consumers.

Read More

EU Commemorates 9/11 Victims, Looks Forward with Resolve

From the declaration of Vice President Franco Frattini, European Union Commissioner for Freedom, Security and Justice, on the 6th anniversary of the September 11 terrorist attacks. Read More

Thursday, September 6, 2007

FTA with Korea: A Cutting Edge Trade Deal for the 21st Century

Korea is one of the world's most wired countries, and Korea's consumers among the most tech-savvy. Demand in Korea for high-tech goods and services is immense and helps drive the Korean economy. The U.S.-Korea FTA opens the door wider for U.S. companies to compete and profit in this one-of-a kind market.

The U.S.-Korea FTA removes Korea's 8% average tariff on U.S. high-tech goods.

Under the FTA, all digital goods imported electronically or physically enter duty-free.

Strong provisions protect U.S. copyrights, patents and trademarks from IPR infringement.



U.S.-Korea Tech Trade Facts

- U.S. tech companies exported $10.6 Billion in goods to Korea in 2006, making it the fourth-largest market outside of North America for U.S. tech exporters.
- 18 U.S. States exported more than $10 million in tech goods to Korea last year.
- According to the U.S. Census Bureau, $1 billion in U.S. tech exports directly supports 3,000 U.S. jobs.


U.S. companies face stiff competition from domestic and foreign companies in Korea's tech market. The FTA gives U.S. firms access, advantage and opportunity in Korea's most innovative and dynamic sector.

Tuesday, August 21, 2007

Hong Kong International Lighting Fair will be held on 28-31 October 2007

Organised by the Hong Kong Trade Development Council (HKTDC), the Hong Kong International Lighting Fair will be held on 28-31 October 2007 at the Hong Kong Convention & Exhibition Centre. Please read the following message for more information. Read More

Thursday, August 9, 2007

The U.S. International Trade Commission (ITC) today released The Year in Trade 2006, its annual overview of the previous year's trade-related activities.

Read More

Monday, July 30, 2007

Fad Marketing's Balancing Act

In Japan, Pepsi's limited edition flavors can be huge hits—and then it kills them
Read More

India's Outsourcing Status Under Threat

China, Malaysia, and other countries are challenging the subcontinent, says a new study by Frost & Sullivan. Read More

Friday, July 27, 2007

EU Commissioner Kuneva Pushes Product Safety in China

EU Consumer Protection Commissioner Meglena Kuneva traveled to China this week to address product safety concerns, including EU-China cooperation on market surveillance and rapid alert systems. China accounts for a major portion of EU imports of consumer products and also half of the notifications of dangerous products generated by the EU's RAPEX alert system.

Read More

United States International Trade Commission: Investigation

Certain Textile Articles: Performance outwear

Read Full report

US-Korea Free Trade Agreement - Some Numbers

ALREADY A TOP EXPORT DESTINATION FOR U.S. STATES. . .

- 29 U.S. STATES COUNT KOREA AS A TOP-TEN DESTINATION FOR THEIR
PRODUCTS AND SERVICES.

- LAST YEAR 6 U.S. STATES – CALIFORNIA, TEXAS, WASHINGTON, MISSOURI,
OREGON AND NEW YORK – EACH EXPORTED MORE THAN $1 BILLION IN
GOODS TO KOREA.

- NO U.S. STATE EXPORTED LESS THAN $10 MILLION TO KOREA IN 2006.

EU, U.S. Announce Final Design for GPS-Galileo Common Civil Signal

The United States and the European Union announced today their agreement to adopt and provide jointly an improved design for their respective Global Navigation Satellite System (GNSS) signals. These signals will be implemented on the Galileo Open Service and the GPS IIIA new civil signal. Read More

Thursday, July 26, 2007

Online, a Global Strategy Starts at Home

When attempting to reconfigure their Web sites with foreigners in mind, companies often overlook domestic minority groups. Read more

Tuesday, July 24, 2007

Portugal Assumes EU Presidency

Portugal stepped into the "rotating" Presidency of the European Union on July 1. Over the next six months the Portuguese Presidency will focus on EU economic growth; enlargement of the border-free "Schengen area" in Europe; strengthening the EU's role in the world, especially Africa through an active dialogue of policy, trade, aid, and development; continued work in the Balkans on reforms for possible EU membership and efforts to resolve the final status of Kosovo; and the negotiation of a Reform Treaty for the EU on the basis of broad agreements reached under the EU's German Presidency. Read More

EU Foreign Ministers Approve EU-U.S. Agreement on Airline Passenger Information

The Council of the European Union has approved the recently-reached EU-U.S. agreement on how personal information on airline passengers from the EU will be provided to U.S. authorities. The new seven-year agreement will help prevent and combat terrorism and serious transnational crime while ensuring compatibility with European standards of fundamental rights and privacy. Read More

Friday, July 20, 2007

Breaking News from Europe:Accounting - Progress on Standards Convergence

A European Commission report welcomes the recent U.S. SEC proposal to simplify the filing of financial statements in the U.S. for non-American companies by eliminating the need for "reconciliation" (quantitative comparison and explanation of differences) between European and U.S. accounting standards. The Commission also notes the need to remove this reconciliation requirement for European issuers using International Financial Reporting Standards as adopted by the EU. Positive developments in Japan, Canada, China, and India are cited in the report as well.
Read More

Friday, July 13, 2007

Competitive Conditions for Foreign Direct Investment in India

This staff research study looks at foreign direct investment (FDI) flows into India by country and by industry, and it examines India’s investment climate through chapters on India’s investment environment, special economic zones, investment-related regulations, and international agreements. It includes FDI case studies on India’s automotive and pharmaceutical industries.

Read More

Thursday, July 12, 2007

Want to Grow U.S. Exports? Here's the Seven Percent Solution

Spurring exports is a great way to boost economic growth and American jobs. In that vein, market-opening trade agreements may be the single best tool to accelerate U.S. exports.

Consider the simple fact that the United States today has free trade agreements with countries that represent a mere seven percent of the world economy. Remarkably, these countries purchase a whopping 43% of U.S. exports. In other words, trade agreements can make big markets out of even small economies -- and the recently negotiated trade agreements with Peru, Colombia, and Panama will surely do the same.

Read More

Not a great news if you are planning a trip to Europe

Euro Pulls Closer to $1.38 in Europe

The euro clawed closer to $1.38 on Thursday, briefly hitting new highs against the dollar, though German and Portuguese officials brushed aside concerns over the currency's strength.

The 13-nation currency peaked $1.3797 before settling back to $1.3793 in late morning trading in Europe. That exceeded its previous record, set early Wednesday, of $1.3784, and compared with the euro's rate in New York late Wednesday of $1.3761.

Read more

Wednesday, July 11, 2007

U.S. Trade Law and FTAs:A Survey of Labor Requirements

Recent discussion in the U.S. Congress and the public media has broadly considered the rights of the international labor force in the making of several new U.S. free trade agreements. This journal article is a primer of the new labor legislation. It catalogs the standards set out in each agreement and any new pre- or post-FTA labor legislation initiated by U.S. trading partner countries. Read more

ITC MAKES DETERMINATIONS IN FIVE-YEAR (SUNSET) REVIEWS CONCERNING STEEL CONCRETE REINFORCING BAR FROM BELARUS, CHINA, INDONESIA, KOREA, LATVIA, MOLDOV

The U.S. International Trade Commission (ITC or Commission) today determined that revoking the existing antidumping duty orders on steel concrete reinforcing bar from Belarus, China, Indonesia, Latvia, Moldova, Poland, and Ukraine would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time, but that revoking the existing antidumping duty order on this product from Korea would not. Read More

Tuesday, July 10, 2007

International Biofuels Conference Concludes in Brussels

The European Commission concludes today a high-level international conference on sustainable development of biofuels, an integral part of the European Union's energy strategy and an important route to reducing greenhouse gas emissions and reinforcing energy security. Read more

China's June trade surplus sets record

BEIJING, July 10 (UPI) -- China Tuesday reported its trade surplus for June reached a record $26.91 billion, up 85.5 percent from June of last year. Read More
Cyprus, Malta Adopt Euro

The [EU] Council, on July 10, 2007, decided to allow Cyprus and Malta to adopt the euro as their currency, thus enlarging the euro area to 15 member states, as from 1 January 2008. Read more

Thursday, June 28, 2007

ITC REPORTS STRONG PERFORMANCE BY U.S. SERVICES FIRMS

U.S. service firms remained preeminent in global services trade in 2005, reports the U.S. International Trade Commission in its report. Read More

Friday, June 22, 2007

ITC TO MODIFY, AUGMENT SERIES OF REPORTS ON CHINA

The U.S. International Trade Commission (ITC or Commission) today announced that it will modify and augment its series of reports on U.S.-China trade, as requested by the U.S. House of Representatives' Committee on Ways and Means. Read More

Monday, June 18, 2007

Doha Talks in Potsdam

WTO negotiators from the EU, India, Brazil and the US will meet in Potsdam, Germany, on June 19 to begin five days of talks intended to build greater convergence between themselves in an attempt to conclude a successful Doha agreement by the end of 2007. Read more

New functionality added to the Blog

A new functionality has been added to the Blog: Weekly Video. The idea is to keep this blog fresh and interesting to the members. Videos will be selected by the Issues and Resources committee or by the Board of NKITA.

Daniele

Friday, June 15, 2007

Persons Entering or Leaving EU Must Declare Cash Movements

Under a new European Union law to combat money laundering and the financing of terrorism, travelers entering or leaving the EU will be required as of June 15 to declare sums of €10,000 or more in cash or easily convertible assets.

The new Union-wide approach to controlling cash movements complements the EU's Money Laundering Directive, which already provides for monitoring of transactions made through credit and financial institutions.

"The new rules will make it more difficult for terrorists to enter or leave the [European Union] with the cash required to finance their illegal actions," said EU Taxation and Customs Commissioner László Kovács. "A single uncomplicated system of this type will also be fairer to legitimate travelers who will no longer be faced with control measures that vary depending on where they enter or leave the [EU]." Read more

Friday, June 8, 2007

Draft NKITA Blog

Good morning,

This is a draft template for NKITA's Issues and Resources Blog. The Blog has been set up as follows:

1) Only the people invited to join the Blog can access it.
2) Any posting to the Blog will go to me (or a volunteer) for review before being posted.
3) On the left Menu you will find:

a) Information on NKITA.
b) The list of topics the committee is working on.
c) NKITA events planned for the next future.
d) News on Global Trade (RSS Feeds from CNN.com)
e) A space for a monthly focus

4) At the bottom of the site I have added the address of the Chamber.
5) Videos and podcasts can be added in case a major event/commentary will occur.
6) Postings to the Blog will be organized by topic.
7) Surveys and links to Chamber pages can be added as needed

Your comments and feedback will be extremely welcome. I would like to submit the blog for comment to the entire committee by the end of June.

Thank you
Daniele