Dear Subscriber

 

Welcome to the September 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 of opportunities and contacts in Lebanon, Saudi Arabia, Gambia and Malaysia and recommendations for good places to find information on trading toys or seafood.

 

Most people believe that rocketing oil prices will damage some of the world's economies and trade prospects, especially those of countries like Japan and United States that import so much energy. However, many experts claim that this will not happen, since they feel high oil prices are not necessarily here to stay, and economic conditions are otherwise favourable for growth. For example, Japan is the most vulnerable country to high oil prices because the nation, also the world's second-biggest economy, imports all its petroleum. However, according to Jason Daw, senior strategist with Merrill Lynch in New York 'The Yen is one of the candidates that should weaken off during really high oil prices. But the Japanese currency's resilience of late, especially during the last week, may reflect that people just think it (high oil) is a temporary phenomenon.'. Also, several western countries which are net oil exporters, such as Norway and Canada, or which are not highly reliant on imported oil, stand to benefit from high oil prices.

 

Lebanon is continuing it's reintegration into the world economy with news that exports have increased by 53% in the first five months of the year, amounting to US$581 million compared to US$378 million during the same period last year. Mohammed Rifai, head of the Exports' Council at Beirut Merchants Association gave several factors for the increase. 'The industrial sector has profited from the international programmes carried out last year in collaboration with the European Union and UNRWA and has also secured the necessary funds to build new factories,' Rifai said. He added that the huge investments made by industrialists in this sector over the last few years to develop and renovate factories, as well industrialists' conviction in the culture of exports and in following a strategy to target foreign markets, were behind the increase.

 

Lebanon's 'Daily Star' newspaper has a very informative website at www.dailystar.com.lb. The Ministry of Industry website at www.industry.gov.lb also has lots of useful information if you're interested in trading with Lebanon.

 

Saudi Arabia is expected to join the World Trade Organisation (WTO) by the end of the year, Under-Secretary at the Ministry of Commerce and Industry for technical affairs Dr. Fawaz Al Alami said recently. The Kingdom has succeeded in signing bilateral agreements with 35 member states with the exception of the US, Al Alami said in a lecture delivered in co-ordination with the national commercial bank executive management, according to a report published in the 'Saudi Gazette'. Al Alami hoped that his recent visit to Washington will lead to the removal of all obstacles and accelerate the Kingdom's joining of the WTO.

 

You can get more information on the WTO at www.wto.org. The Saudi Network at www.the-saudi.net is also a useful (if rather homespun) little site we found with good information on trading with Saudi Arabia.

 

If you're interested in trading in toys the US-based Toy Industry Association (TIA) website has useful information on toys, what toys are 'in' at the moment, details of worldwide trade fairs and exhibitions and a useful member directory. You can visit it at www.toy-tia.org. The site is an excellent site to visit if you want to export toys to the largest toy market in the world - the USA.

 

Each year, European Union (EU) member countries import almost three million tons of seafood - worth over US$7 billion - making it one of the world's largest markets for seafood. If you're interested in this market then the following free report will be very useful : 'How to Export Seafood to the EU', by Stephane Vrignaud of the US Mission To The EU in Brussels. This extensive report covers key markets, explains the EU's Common Agricultural Policy and provides detailed information on production, handling, storage, labelling and health standards for seafood exporters. To read the report visit www.nmfs.noaa.gov/trade/EUCONTENTS.htm.

Gambia is continuing with ambitious economic expansion plans and has declared its aim to become a 'middle income country by 2020'. To achieve this aim the country has officially launched an open door, liberal trade policy and is removing or reducing many trade restrictions and tariffs. Previously, the West African country relied on agriculture and tourism but now the Government is eager to promote other industries and become an investment haven for foreign investors. You can find out more about the opportunities on the Gambian Government's excellent website at www.gambia.gm, which has trading information and an extensive list of companies.

 

Malaysia's exports continued to show robust growth last month reaching RM39.75 billion, which was 22.2% higher than the same month a year ago. Export performance in the first half of 2004 increased by 19.7% compared to the corresponding period in 2003. Major increases in exports on a month-on-month basis were seen in markets such as ASEAN, an increase of RM650 million (+7%); the USA, RM415 million (+5.7%); Hong Kong, RM409 million (+17.9%); Japan, RM352 million (+9.1%) and Netherlands, RM225 million (+19.9%). The increase in exports resulted from strong demand for manufactured goods such as electrical and electronic products, wood products and optical and scientific equipment. For information, news, export/import opportunities and trading links visit the Malaysia External Trade Development Corporation's (MATRADE) site at www.matrade.gov.my.

 

The tips you receive in this bulletin are just a very, very small selection of the help, advice and information Wade World Trade can give you. Wade has been in the business since 1946, so we have decades of experience in international trade information. Our products and services include 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.

 

For more details of our products and services visit our website at www.wadeworldtrade.com or call us on +44 (0)20 8663 3577.

 

Best Regards

Mark Hempshell

Editor