WadeTradeNews

Welcome to the March edition of Wade Trade News - Wade World Trade's own monthly bulletin bringing you news on developments and opportunities in international trade that are worthy of your attention. Read on now for news about trading with Australia, Hunan (China), Iran (again), Central America and Bangladesh; information on the world trade in shoes and a useful website to help expand your markets around the world.

Australia has reached a new phase in its relationship with Asia, Federal Trade Minister Mark Vaile said recently. Australia's response to Asian countries in the wake of the tsunami last year has defined its role in the region, he told business and industry representatives in Sydney. More than anything else this will cement our position, a level of respect we receive from our colleagues in the region, and the way we are treated and welcomed into regional arrangements' he said.

Mr Vaile added 'It's a break point in the history of trade policy. Australia has a responsibility to pursue greater trade liberalisation in Asia. We need to recognise that responsibility, where we're geographically located, and the responsibility in an international global sense that we must show and discharge.'. Mr Vaile also referred to current agreements with Singapore and the USA, and negotiations on potential free trade agreements with China, ASEAN nations, New Zealand and Japan.

The Australian authorities have lots of official trade sites but Austrade at www.austrade.gov.au is a good place to start. The Trade Minister also has his own site at www.trademinister.gov.au.

Following our profile on Iran last month Iranian Commerce Minister Mohammad Shariatmadari, in a meeting with the Chairman of Russia's Chamber of Commerce and Industry Yevgeny Primakov, has emphasised the need to bolster trade. He said that Iran's 7% growth rate, increase in non-oil exports, control of inflation, revision of import-export laws as well as laws to encourage foreign investment, are some of the major steps taken towards expansion of ties with other countries. Shariatmadari said he hoped Iran would be able to provide an increasing share of Russia's US$70 billion annual imports, while Primakov called for stronger bilateral ties and for Iran's private sector to invest in Russia.

Since last month we've located two more useful sources for information on Iran : The Islamic Republic News Agency (IRNA) at www.irna.ir and the Export Development Bank of Iran at www.edbi.org - both sites have English versions.

China Daily (www.chinadaily.com) has reported that central China's Hunan Province increased foreign trade by 45% to US$5.44 billion in 2004, according to the Hunan Provincial Bureau of Statistics (www.hntj.gov.cn). Foreign funded and private businesses played a major role with trade rising by 39% (to US$1.07 billion) and 112% (to US$952 million) respectively. Farm produce accounted for US$230 million, up 24%, and mechanical/electrical products for US$606 million, up 40%. Hunan also approved 636 foreign funded projects last year.

There's a Hunan Trade site at www.tradehn.com - it seems to be in its infancy and we experienced some problems with it, but you could bear it in mind for the future. In any case, many Hunan companies now have their own website which you can find using an Internet search.

Representatives of the Central American countries and the European Union (EU) are due to hold a 'technical meeting' in Managua, Honduras, this month to discuss possible negotiations on a free trade agreement (FTA). Honduran Trade Ministry officials said the parties will discuss the advances in Central America's economic integration - a first step towards formal negotiations - with a view to holding a summit between the two blocs in May 2006. The Central American countries have already signed FTA's with Mexico, USA and Chile.

As ever reliable English language websites covering Central and South America are scarce. The Latin Trade site www.latintrade.com is good for overall business/industry and doing-business information.

Bangladesh's vital garment industry was expected to suffer as a result of the ending of the Multi Fibre Agreement or MFA (which ended guaranteed access to US and European markets) last year. However, the removal of a Bangladesh Government ban on foreign investment this month could see the industry receive a US$1 billion boost, and lead to more trading opportunities!

Mahmudur Rahman, chief executive of the country's investment promotion office, said 'We're confident this move will help us woo more than US$1 billion of foreign direct investment in the sector and create more than a million jobs in the next couple of years.'. The president of the Bangladesh Garments Manufacturers and Exporters Association (www.bgmea.com) Anisul Huq also supported the move.

Bangladesh's garment industry underpins its economy by generating 75% per cent of its annual income of US$5.7 billion. The Bangladesh Garment Apparel Manufacture Export Directory offers lots of interesting trade contacts at www.bangladeshgarments.info.

There aren't many products that almost everybody in the world buys ... . but footwear is one of them. From basic sandals in China or Africa, to designer footwear in the boutiques of Paris or New York footwear is one of the world's biggest markets. It's also one that's very easy to get into. You don't need any experience or much technical knowledge. If you're interested in importing or exporting footwear visit ShoeInfoNet at www.shoeinfonet.com. Now much improved this site is packed with invaluable news, information, industry contacts and a trade fair listing for all the major footwear manufacturing, importing and exporting countries. The European Confederation of The Footwear Industry (which represents 14,000 European manufacturers) also has a useful site at www.cecshoe.be.

It can be frustrating when you find a good trading opportunity only to discover that language barriers block your plans. If you don't speak your supplier's or customer's language, and they don't speak yours, promising opportunities can be lost. But one way to access markets is to find a good translator. Translation Zone is a website which holds thousands of profiles of expert translators around the world so you can find the ideal person for the job. You can specify the language you work in, the language you wish to translate to, the location of the translator, whether they need to be a native speaker or not and even their speciality, eg. science or law. Within seconds you'll receive details of suitable translators you can hire.

This year marks Wade World Trade's 60th year in the import-export business, so there's no one more experienced to help you make a success of world trade. Don't forget that the leads you receive in this bulletin are just a small selection of the information and help Wade World Trade can offer. Our products and services include newly updated courses, manuals, advice, information, online resources and worldwide trade and business contacts - more or less everything you need to start and succeed in import-export.