Tag: Asia

Vietnam accedes to the World Trade Organisation

Posted by | Jan 12, 2007 | |

Vietnam has finally been admitted to the World Trade Organisation, bringing its total membership to 150. The General Council of the WTO approved Vietnam’s membership on 7 November 2006, and it acceded 30 days after the agreement was ratified. The decision ends over 11 years of preparation, including eight years of negotiation.

“Vietnam has shown how anchoring domestic reforms in the WTO can yield dramatic results. Vietnam’s economic growth topped 8% last year, foreign direct investment rose steeply to over USD6 billion, and exports surged by over 20%. More must surely follow with the new laws, administrative measures, and commitments on goods and services that are in Vietnam’s membership package,” WTO Director-General Pascal Lamy said at the time of the membership approval. According to the latest WTO data, Vietnam’s merchandise exports were USD26.5 billion in 2004, and its imports were USD32.0 billion.

Many companies have not waited for the accession to commence their investment in the market. In 2006 both DHL and FedEx made agreements with the Vietnamese Post and Telecommunications Group and the Ministry of Planning and Investment to establish alliances. Also last year NYK Lines committed to sinking USD200 million into a number of shipping and logistics projects. These will include port and shipbuilding initiatives. TNT is extending its Asia road network to Vietnam, scheduled for the first half of this year, and in the last few months APL, MOL, Aramex, Kintetsu, DHL have all announced initiatives.

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DHL Korea launches global mail solutions

Posted by | Jan 11, 2007 | |

DHL has launched a tailored mailroom and document management solutions for corporate customers in Korea, the company said yesterday. The express and logistics company said it is the first in the industry to provide the services called GlobalMail Solutions to companies here.

The company said that GlobalMail Solutions, by providing mailroom and document management service, is committed to taking the entire responsibility for a client’s mailroom to enhance business efficiency.

The services include technology-driven software solutions for corporate customers.

“With our 30 years of know-how in Korea, DHL Korea will provide an integrated and professional service called GlobalMail Solutions, which will offer services customized to fit in with the Korean corporate environment,” Alan Cassels, country manager of DHL Express Korea, said in a statement.

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India Post to emerge as a key player

Posted by | Jan 9, 2007 | |

The multi-crore courier services sector, dominated by the multi-nationals and indigenous private players, will soon see India Post emerging as a key player in the arena.

Come Wednesday and the India Post’s fresh initiative ‘ Mail Business Centre’ on this front will unfold. Delhi will be the first among the major cities to have three such stops catering to the bulk mailing requirements of the corporate and government organisations.

To begin with, first of the three such centres will become functional at Foreign Post Office near ITO. The other two MBCs will be located at Rail Mail Service Bhawan and Army Mail Postal Service Centre, Vasant Vihar.

In what could be perceived as image make-over for the India Post, its General Manager, Business Development, John Samuel, described the MBCs as “one stop mailing centres” primarily eyeing the corporate clients. Soon all major cities of the country will have this facility, he said adding : “Basically, we are adopting a businesslike approach to woo the customers by providing an efficient service.”

Believe it or not, trained Marketing Executives and Key Accounts Managers will be available at these centres to interact with the clients and study their needs. They will hold business negotiations and offer financial packages to suit their requirements.

Not only will it be faster and more accountable, it will also replace the prevalent system of sending the bulk mail and parcels through ordinary post, Samuel said.

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ASEAN nations should grow high-value exports and reassess strategies to further strengthen their economies: EIU report

Posted by | Jan 8, 2007 | |

DHL today revealed the findings of a study commissioned to Economist Intelligence Unit (EIU) at the 4th ASEAN Business and Investment Summit 2006 (ASEAN-BIS). The study, entitled “ASEAN Exports: Today, Tomorrow and the High-value Challenge”, aimed to analyze where ASEAN countries stand today in relation to China and India, and how they measure up as a trade bloc, in terms of high value exports, against the European Union (EU) and the North American Free Trade Agreement (NAFTA).

DHL, the world’s leading express and logistics company, today revealed the findings of a study commissioned to Economist Intelligence Unit (EIU) at the 4th ASEAN Business and Investment Summit 2006 (ASEAN-BIS). The study, entitled “ASEAN Exports: Today, Tomorrow and the High-value Challenge”, aimed to analyze where ASEAN countries stand today in relation to China and India, and how they measure up as a trade bloc, in terms of high value exports, against the European Union (EU) and the North American Free Trade Agreement (NAFTA).

One of the key findings states that China had not only outpaced ASEAN in high-value exports as early as 2003, but it has also overtaken ASEAN as the biggest exporter in Asia since 2004. Against this backdrop, ASEAN governments would have to review their trade policies in comparison with China and in meeting the challenges ahead

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China to create fifth largest bank from postal savings system

Posted by | Jan 3, 2007 | |

China has approved a plan to turn the nation’s huge postal savings system into a bank, which is set to become the nation’s fifth largest lender, the China Daily reported.

The approval for the China Postal Savings Bank to start operations was given by the China Banking Regulatory Commission, the newspaper said.

The bank will be wholly owned by the China Post Group, a 10 bln usd company formed out of the State Post Bureau, formally both the supervisor and a major player in postal services, the China Daily said, citing the commission.

‘China Postal Savings Bank will focus on developing retail and intermediary businesses, to offer basic financial services for residents,’ the newspaper quoted a statement of the commission as saying.

In 2005, there were more than 36,000 postal savings outlets across the country, with two thirds of them distributed in rural areas.

Post offices in China started postal savings services in 1986 but they could only accept deposits from the public and not offer loans, the report said.

The deposit balance of post savings recorded 1.3 trln yuan (166 bln usd) by the end of 2005, accounting for nearly 10 pct of China’s household savings.

The biggest four lenders in China are the Industrial and Commercial Bank of China, the China Construction Bank, the Bank of China and the Agricultural Bank of China.

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