WADE TRADE NEWS
Volume 7, Issue 9 : September 2008
Dear Subscriber
Welcome to Wade Trade News import-export news for September 2008. In this issue we’ll update you on the latest World Trade Organisation talks, pass on some useful news and websites to help you find trade opportunities in China, East Africa, Germany, Spain and Switzerland – and talk about trading herbs and spices.
World Trade Organisation Talks To Be Revived ?The latest World Trade Organisation (
www.wto.org) talks may have collapsed, but this does not mean that efforts to reach agreement on liberalising world trade in agriculture and industrial products will not continue. WTO Director-General Pascal Lamy told an informal meeting of the Trade Negotiations Committee he remains convinced that what was under discussion represents much more than has been achieved in any previous multilateral trade negotiation. He said ‘Much was achieved in these meetings. We will need to let the dust settle. It is probably difficult to look too far into the future at this point. WTO members will need to have a sober look at if and how they bring the pieces back together.’ However, the Director-General gave no indication as to when the talks may be restarted.
China Becomes Major Sports Goods Buyer
China is well established as a major exporter of consumer goods, and it is now becoming a major importer of consumer goods too – sports goods in particular. China produces 65% of the world’s sports supplies, but opportunities to sell sports goods there are booming. The China Education and Sports Supplies Association (CESSA) predicts that the Beijing Olympics will transform Chinese consumption of sports supplies. It estimates that the sales volume of sports supplies in China will reach 80 billion yuan (US$11.4 billion) in 2008 and China will become the second largest market for sports supplies after the USA. International brand names, such as Nike and Adidas, are trying to expand their markets across the country. Also, domestic brand names including Lining, Anta, Tebu, Kangwei and 361 degrees are trying to expand their markets from the small and medium sized cities to the largest ones.
EAC To Turn Lake Victoria Into Major Economic ZoneThe East African Community (EAC) has announced a plan to transform Lake Victoria into a Special Economic Development Zone which is expected to boost growth in the surrounding countries of Kenya, Tanzania and Uganda. EAC Secretary-General Juma Mwapachu says the masterplan will involve the expedited implementation of regional projects and programmes to boost transport, tourism, fisheries and agriculture. The US$5 billion plan includes a ring road around the lake, the world’s second largest freshwater lake. Both local and international investors are expected to take part in the development of the region which is planned to turn the EAC into a middle-income economy. Take a look at
www.eac.int for more details.
German GDP To Reach 1.7% This Year
Germany’s GDP growth is forecast to reach 1.7% this year, Economy Minister Michael Glos announced recently. The forecast, which takes various uncertainties into consideration, was ‘very realistic’ said Glos. However, the result would be affected by factors like energy and food prices, and individual consumption. But most analysts have a more pessimistic view – saying the economy might fall 0.5% in the next quarter. The government will issue a new economic growth forecast in October. The German Business Portal, an initiative of the Federal Ministry of Economics & Technology, is a good site for basic info. on trading with Germany:
www.german-business-portal.info.
Great Point Of Contact For Trading With SpainThe Spanish Institute for Foreign Trade in collaboration with the Trade Commissions of Spain is now providing companies and individuals who are interested in doing business with Spain with a dedicated area from which they can access all the information that they need. Spain Business at
www.spainbusiness.com is the official website of the Spanish Institute for Foreign Trade (ICEX), Spain’s Ministry of Industry, Tourism and Trade. Just choose your country of origin at the home page, and you’ll get access to tailor-made, language-specific information including facts and figures, economic information, tips on investment opportunities, a diary of trade events, a directory of Spanish companies, news and market and industry reports too. This official government site is highly recommended!
Doing Business With Switzerland
Switzerland’s economy is based on a highly qualified labour force performing highly skilled work. The main areas include microtechnology, hi-tech industry, biotechnology and pharmaceuticals, as well as banking and insurance. The service sector now employs the greatest number of people. Most of the people working in Switzerland are employed by small and medium sized enterprises, which play an extremely important role in the national economy. The Swiss are also very environmentally-aware and concerned that economic activity should have as little impact as possible on the planet.
Swissworld at
www.swissworld.org calls itself ‘your gateway to Switzerland’. it offers lots of background information on the country including history, politics, the economy and many useful links. The Infonautics Directory of Switzerland is also a handy directory for finding Swiss companies. You can search by company name or product area:
www.swissdir.chOpportunities For Trading Herbs And SpicesHerbs and spices are used extensively in most countries, and can represent an easy and profitable product to trade. The European Spice Association (ESA) is the united voice of the European Spice and Seasoning industry, representing and actively promoting the industry. It represents the herb, seasoning and spice industry in the European Union with member countries including Belgium, Netherlands, Denmark, Spain, Finland, Sweden, France, Switzerland, Germany, UK and Italy – plus Turkey and India. Their website is at
www.esa-spices.org. The Seasoning & Spice Association in the UK also has a useful site with background information and links:
www.seasoningandspice.org.uk.
Until next time,
Mark Hempshell
Editor