Vol. XXXVII, No. 10 October 2014

INSIDE THIS ISSUE

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CACCI ProfileConfederation of Asia-Pacifi c Chambers of Commerce and Industry

Continued on page 2

New CACCI President Jemal Inaishvili prepares to take the helm

CACCI names office bearers fro 2014-2016

CACCI approves policy paper on trade l iberal izat ion and facilitation

South Urals and San Pablo City CCI named best local chambers

Hendy Setiono bags CACCI Young Entrepreneur Award

Photo Highlights Pakistan trade mission visits

Philippines Five women entrepreneurs from

CACCI countries nominated for IWEC Awards 2014

CACCI, ICC Asia, PCCI hold ATA Carnet workshop in Manila

ACCI, IORA invite members to “Women’s Economic Empower-ment Breakfast”

Regular Features

At the 28th CACCI Conference

Asia Pacifi c business community looks beyond 2020

The Confederation of Asia-Pacific Chambers of Commerce and

Industry (CACCI) successfully held its 28th CACCI Conference in Kuala Lumpur, Malaysia on September 17-19, 2014, with the participation of some 300 delegates composed largely of leading businessmen from 22 Asia-Pacific countries, led by outgoing C A C C I P r e s i d e n t A m b a s s a d o r Bened ic to V. Yu ju i co f rom the Philippines.

This year’s Conference was a milestone event as it marked the first time that the Malaysian International Chamber of Commerce and Industry (MICCI) and the National Chamber of Commerce and Industry (NCCIM) jointly organized an annual gathering of CACCI in Malaysia.

CACCI collaborated with MICCI and NCCIM in the hosting of this year’s meeting with the view to giving their members the opportunity to strengthen links with each other and to jointly explore business opportunities not just in Malaysia but in other CACCI member countries as well.

Opening CeremonyThis year’s Conference focused on

the theme “Beyond 2020: Asia Pacific as an Engine for Sustainable Growth.” The two-and-a-half-day event was designed to provide another platform for CACCI members to exchange views on current market developments impacting the region’s economies. Experts from both the government and the private sector were invited to

examine measures that businessmen and policymakers in the region can undertake to help attain sustainable growth and enable the Asia-Pacific region to play a catalytic role in the global economy over the next decade and beyond.

In his Welcome Remarks, MICCI President Mr. Simon Whitelaw said

Key officers of CACCI, NCCIM and MICCI pose for a group photo at the end of the Opening Ceremony of the 28th CACCI Conference in Kuala Lumpur.

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28th CACCI Conference. . . Continued from page 1

Simon Whitelaw, MICCI President (left) and Datuk Syed Ali Attas, NCCIM President (right) deliver their remarks and warmly welcome all delegates to Malaysia.

Amb. Yujuico speaks at the opening ceremony of the 28th CACCI Conference while CACCI officers and delegates listen.

Amb. Benedicto Yujuico, CACCI President, strikes the gong to formally open the 28th CACCI Conference.

that the Kuala Lumpur Conference is a remarkable event since there are very few international business conferences that bring together private sector representatives responsible for the welfare of hundreds of thousands of companies over a region stretching from the edge of Antarctica in the South, to the Arctic circle in the North and from the Pacific Ocean in the East to the Mediterranean Sea in the West. That, he said, is a big piece of territory and houses today some of the most dynamic economies on earth, both developed and developing. It is very relevant, therefore, that MICCI, with its long history of support for the business community and NCCIM, as the Malaysian national chamber, should jointly host this important Conference, Mr. Whitelaw remarked.

N C C I M P r e s i d e n t D a t u k Syed Ali Mohamed Al Attas also welcomed the delegates by noting that CACCI is regionally one of the largest representations of the private sector, and offers a unique platform for businesses to leverage on. It is not bound by the geopolitical agendas that confront governments and through its member federations and chambers o f commerce and indus t ry, can authoritatively claim to speak for the wider business community in a way that governments find difficult.

In his Welcome Statement, CACCI President Amb. Benedicto V. Yujuico from the Philippines stated that the annual gathering this year takes place at a time when the global economy is showing signs of bouncing back, five years after the global financial crisis, pulled along by a recovery in high-income economies, as well as by a firming up of growth in developing countries. However, he noted that while global economic indicators show improvement, analysts note that there are still uncertainties that lie beneath the surface.

The challenge therefore is to be able to achieve sustainable business

growth amidst continuing changes in the economic landscape, he said. “There is certainly a need to focus our attention on the current challenges faced by economies in the Asian region, identify priorities on which countries and companies need to focus that can contribute to their competitiveness, and

recommend some policy responses to the changing conditions at home and abroad that governments, international financial organizations and private sector participants can adapt to ensure growth and macroeconomic stability in Asia over the medium and long term”, Amb. Yujuico stated.

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New CACCI President Jemal Inaishvili prepares to take the helm

The CACCI Council, which is the organization’s governing

body, on September 17 elected Mr. Jemal Inaishvili, Board Member of the Georgian Chamber of Commerce and Industry, as CACCI President, replacing Amb. Benedicto Yujuico from the Philippines. Mr. Inaishvili served as CACCI Vice President since 2006. He becomes the 25th CACCI President since the Confederation was first established in 1966.

Mr. Inaishvili was elected as president of the Georgian Chamber of Commerce and Industry (GCCI) in 2005. He currently sits at the board of the chamber and is a member of the General Council of ICC World Chambers Federation. He also served as a member of par l iament and occupied the position Deputy Chairman of Georgian Parliament.

In his acceptance speech, Mr. Inaishvili said, “The Georgian Chamber of Commerce and Industry and I are deeply honored to have been given the opportunity to assume the presidency of CACCI for the next two years.”

“It is certainly a distinct privilege for me to be elected in this important position. Through your continued guidance, coupled with the collective wisdom of the members of the Advisory Board and the other newly elected officers, I hope to continue pursuing the mission of CACCI towards greater understanding and cooperation among the region’s business communities.

“I must confess that a few years ago I could not imagine that one day I would be elected as president of CACCI.

“In fact, I had learned about CACCI when I was elected as president of the Georgian Chamber of Commerce and Industry in 2005. At that time I had participated in the CACCI conference in India and decided to do my best that Georgian Chamber be represented in our wonderful organization, thus setting precedent for South Caucasus

region. I am very grateful to then president honorable K.K. Modi and CACCI Secretariat, who supported me in this and also played the great role that the next CACCI Council Meeting would be held in Tbilisi, Georgia.

“I will never forget support and advice of late Dr. Jeffrey Koo Sr. who later had visited Georgia and greatly contributed to development of co-operation of business communities of Georgia and Asia Pacific region. Indeed he was a great leader and great man!” The newly-elected president extended his thanks and appreciation to outgoing CACCI president Amb. Benedicto Yujuico for his support and great contribution to CACCI as a regional organization, as well as to the whole advisory board of CACCI- Mr. Ken Court, Mr. KK Modi, and Mr. Harvey Chang. He congratulated the new set of officers and sought for their wisdom during his tenure.

Mr. Inaishivili called on the business community to work together to make CACCI an effective forum for advancing the cause of the business

sector and for promoting regional economic coopera t ion . He a l so expressed his gratitude and appreciation to CACCI and its staff, led by Amb. Victor CY Tseng, for all their help.

Looking ahead, Mr. Inaishvili hopes that CACCI will continue to play a pivotal role in the region. He said “I will try to contribute to the expansion of our membership and the widening of our activities. I shall strive to make this organization ever productive and unified. I shall continue to seek your advice on how we can keep the momentum of our growth and strength, how we can make our voice heard and our influence felt.”

“Once again, I would like to express my sincere thanks to all members of CACCI for giving me and the Georgian Chamber of Commerce and Industry the honor to lead CACCI in the next two years. I am confident that with your support, we can look forward to more years of fostering greater cooperation and understanding among chambers in the region,” concluded Mr. Inaishvili.

Newly-elected CACCI president Mr. Jemail Inaishvili waves the CACCI flag after receiving it from outgoing president Amb. Benedicto Yujuico.

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CACCI approves policy paper on trade liberalization and facilitation

CACCI names office bearers for 2014-2016

Ke y o f f i c e r s f r o m P r i m a r y Members have been elected by

the CACCI Council to serve as Vice Presidents, Honorary Treasurer, Budget Commission members, and members of the Executive Committee for the term 2014-2016. The newly-elected officers will assist new CACCI President Mr. Jemal Inaishvili in implementing CACCI programs and activities for the next two years.

Voted into office during the 83rd Council Meeting held on September 17, 2014 in Kuala Lumpur, the newly installed CACCI office bearers include the following:Senior Vice President: Mr.Samir Modi, Member of Executive Committee, Federation of Indian Chambers of Commerce and Industry, and Executive Director of K.K. Modi GroupVice Presidents:

• M r P e t e r M c M u l l i n , B o a r d Member, International Chamber of Commerce Australia, Special Counsel, Cornwall Stodart Lawyers

• D r. A l i A k b a r F a r a z i , Vi c e President for International Affairs, I r an Chamber o f Commerce , Industries, Mines and Agriculture

• Mr. Takeo Fukui, Special Advisor, Japan Chamber of Commerce and Industry amd Advisor, Honda Motors Co Ltd

• Mr. Pradeep K. Shrestha, Former President Federation of Nepalese CCI’s and Managing Director, Panchakanya Group

• Amb. John Feng, Advisor, Chinese International Economic Cooperation Association and Senior Advisor for International Affairs, CTBC Bank Co

• Mr. Rifat Hisarciklioglu, President, Union of Chambers and Commodity

Exchanges of Turkey Chairman, Eskihisae Group of Companies

Honorary Treasurer: Mr. Conrad Lee, Chairman, Kowloon Chamber of Commerce, and Managing Director, Wah Shing Sports Trading Co LtdBudget Commission Members:• Mr. Steve Hsieh , Convener of

the Board of Supervisors, Chinese International Economic Cooperation Association and Vice-Chairman, CTBC Financial Holding Co Ltd

• Mr. Bernard Lau , Permanent President and Honorary Chairman, Kowloon Chamber of Commerce, and Managing Director, Pak Hing Loong Co Ltd

• Mr. Obaidur Rahman, Director, Federation of Bangladesh Chambers of Commerce and Industry, and Managing Director, Dorasco Limited

Director-General: Amb. Victor C. Y. Tseng (Taiwan)Deputy Director-General: Mr. Amador Honrado Jr. (Philippines)

The CACCI Council approved the Policy Paper on “Trade

Liberalization and Facilitation” during the 83rd CACCI Council Meeting held on September 17 in Kuala Lumpur. The paper was formulated with the assistance of Mr. Bryan Clark, Director of Trade and International Affairs, Australian Chamber of Commerce and Industry (ACCI).

Among the recommendations put forward by CACCI in the paper were the following:

a) CACCI needs to encourage and support Government efforts in trade liberalization and facilitation but, as collective Chambers of Commerce across the region, it also needs to take a leading positions to inform Governments of the needs of business and the common processes available through Chambers that can assist to

Mr. Bryan Clark (leftmost), Director of Trade and International Affairs, ACCI, leads the discussion of the policy paper on trade liberalization and facilitation.

improve trade within global supply chains.

b) CACCI calls for Government t o w o r k w i t h i n d u s t r y g r o u p s including exporters and importers to better improve the outcomes in trade negotiations, in the interests of co-

opting business practice and promoting harmonization of international trade, rather than making it needlessly complex.

c) CACCI endorses the B20’s recommendations on trade and trade facilitation and urges the Governments of members to urgently adopt the protocol on the Trade Facilitation Agreement in the WTO.

d) CACCI calls on members to support the recommendation of the first Indian Ocean Rim Association (IORA) Business and Trade Facilitation Workshop.

CACCI is encouraging member chambers to review the policy paper and consider helping to implement the recommended actions outlined in the paper. Member chambers may also submit the document to pertinent government bodies in their respective c o u n t r i e s a n d a d o p t m e a s u r e s recommended in the paper aimed at creating a conducive climate for trade liberalization and facilitation.

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South Urals and San Pablo City CCI named Best Local Chambers

Representatives of San Pablo City CCI led by President Mr. Romeo B. Race (4th from right) make a thumbs-up sign after winning the Best Local Chamber-Small Chamber Category.

South Urals CCI Vice President Mr. Igor Aristov (2nd from left) celebrates after the announcement of Best Local chamber-Big Chamber category.

Two local chambers from CACCI member countries received the

6th Local Chamber Awards during the gala dinner held on September 19, in conjunction with the 28th CACCI Conference in Kuala Lumpur.

The South Urals Chamber of Commerce and Industry from Russia won under the Big Category, and the San Pablo City Chamber of Commerce and Industry from the Philippines was proclaimed the winner under the Small Chamber Category. The two chambers were cited for their outstanding achievements in promoting the indus t r i a l , commerc ia l and social well-being of their respective communities and their contribution to the chamber movement.

A Special Recognition Award was presented to the Bangladesh Women Chamber of Commerce and Industry‒ a finalist for the Big Chamber Category‒ for its exemplary efforts in promoting women entrepreneurship in Bangladesh and in enhancing the role of women as important contributors to the economy and society.

The South Urals Chamber of Commerce and Industry (SUCCI) was founded in January, 1992, by the largest enterprises of the Chelyabinsk Region interested in the formation of a modern industrial, financial and trade infrastructure. The SUCCI works on the realization of social and economic progress of the Chelyabinsk region including participation in legislative and law-implementing processes, and in the development of regional and municipal programs.

F o r m e d i n M a y, 1 9 9 9 a n d affiliated with the Philippine Chamber of Commerce and Industry on Sept 29, 1999, the San Pablo City Chamber of Commerce and Industry, Inc. is a voluntary organization of businessmen and professionals who share the common dream of a vibrant economy for San Pablo City and its environs. The organization hopes to synthesize

business act ivi t ies in the area - especially those of small and medium enterprises - and thereby, give voice to small and medium entrepreneurs.

Other finalistsThe third finalist under the Big

Chamber category was the Davao City Chamber of Commerce and Industry from the Philippines, while the other two finalists under the Small Chamber category included the Metro Naga Chamber of Commerce and Industry from the Philippines and Chamber of Commerce and Industry in Sukhbaatar Province from Mongolia. Each of the finalists

received a Certificate of Achievement from CACCI.

The CACCI Local Chamber Awards, which CACCI first presented in 2004, seeks to recognize chambers for their achievement in providing services to its members and to the communi ty where i t s members operate. It is intended to encourage local chambers to strive for excellence in delivering services to their members by adopting useful and practical projects to assist their constituencies. It also aims to bring awareness of the CACCI Program to the grassroots, namely, to the local chambers and their members.

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Hendy Setiono bags CACCI Young Entrepreneur Award

He n d y S e t i o n o , P r e s i d e n t Di rec to r o f PT Baba Raf i

Indonesia, took home the 5th Asia Pacific Young Entrepreneur Award presented by CACCI during the gala dinner of the 28th CACCI Conference held on September 19, 2014 in Kuala Lumpur.

Setiono founded his Turkish kebab business when he was just 20 years old, with a US$400 capital borrowed from his sister. The idea was born when Setiono visited his father who was then working for an oil company in Qatar, and his mother who works as a teacher. He was curious about the popularity of kebab in the Middle East, saw its potential and wanted to bring the concept home.

With borrowed money, Setiono built a humble kebab pushcart which soon became known as Kebab Turki Baba Rafi. The response exceeded beyond expectation and three carts were built the same year. The first outlet was established in the early 2003 in Setiono’s hometown in Surabaya, Indonesia. In 2006, he applied for a franchise system as part of his strategic business development.

At present, Kebab Turki Baba Rafi has over 1,000 outlets across Indonesia, and have expanded overseas in Malaysia, the Philippines, China, Vietnam, Sri Lanka, and soon the Netherlands. Setiono and his team continues to attract more investors from across the world and aims to become the Asian Subway- the famous Western fast-food joint selling submarine sandwiches.

Given the number of employees w h o a r e p a r t o f t h e B a b a r a f i group, Hendy Set iono s ta r ted a transformational corporate social r e spons ib i l i t y i n i t i a t i ve ca l l ed The Baba Rafi Academy, with an objective of creating and grooming the nex t genera t ion o f soc ia l ly and environmentally responsible entrepreneurs.

Hendy Setiono raises his trophy after being declared as winner of the 5th Asia Pacific Young Entrepreneur Award.

Hendy Setiono gives a presentation at the final judging of the 5th Asia Pacific Young Entrepreneur Award.

Through h i s ach i evemen t s , Setiono represents an exceptional young As i an en t r ep reneu r who continues to contribute to the social well-being of the local economy with practice of good business ethics and support of the chamber movement in the region.

The 5th Asia Pacif ic Young Entrepreneur Award is a project of the Young Entrepreneurs Group of Asia Pacific (YEGAP) of CACCI which aims to recognize excellent young entrepreneurs in the Asia-Pacific rim who not only are successful in their business but also advocate corporate social responsibility for the good of their country.

Other finalistsThe four other finalists were Mr.

Mohammed Riyadh Ali, Managing Director, Intraco Group, Bangladesh; Mr. Morteza Hadavandi, Founder and Manag ing D i r ec to r Raz in Polymer, I ran; Ms. Banafsheh Sedigh, Member of the Board and

Managing Director Shir-Gaz-Laleh Mfg. Co. (SHIGAL), Iran; and Mr. Khaliq Ahmad Minhas, CEO, Tariq Pipe Industries, Pakistan.

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Amb. Benedicto Yujuico, CACCI Immediate Past President, receives a plaque of appreciation from Mr. Ken Court, Chairman, CACCI Advisory Board, in recognition of his exemplary performance, outstanding accomplishments during his term as President of CACCI from 2010-2014, in serving the interest of CACCI members and the Asia-Pacific business community as a whole, and for his valuable contribution in promoting the growth and development of the Confederation. The awarding ceremony took place during the Gala Dinner of the 28th CACCI Conference held on September 19, 2014 in Kuala Lumpur.

The CACCI medallions are presented to members who have demonstrated deep commitment to the Confederation and its objectives through their frequent attendance in CACCI meetings and activities. They are awarded to individual members who have attended CACCI gatherings more than 10 times. The CACCI Medallion recipients this year are (clockwise): Outgoing CACCI President Amb. Benedicto Yujuico, CACCI Past President Mr. Harvey Chang (CACCI Budget Commission Member and CTBC Financial Holding Co Ltd. Mr. Steve Hsieh received the medallion on Mr. Chang’s behalf), Asian ICT Council Chairman Dr. Gwo Jiunn Huang, and MICCI Executive Director Mr. Stewart Forbes. The Medallions were presented at the 28th CACCI Conference Gala Dinner held on September 19, 2014 in Kuala Lumpur.

Amb Yujuico receives Distinguished Service Award

CACCI Medallions presented to four members

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ICRIC signs MOU with CACCI - The Kuala Lumpur Conference served as an occasion for CACCI to sign a Memorandum of Understanding (MOU) with the Islamic Chamber Research and Information Center (ICRIC) outlining possible areas of cooperation between the two organizations. CACCI Director-General Amb. Victor C. Y. Tseng signed the MOU on behalf of CACCI, while Director General Dr. Mehdi Fakheri was the signatory for ICRIC.

Discover business opportunities through CACCI - Introduced for the first time this year as part of the CACCI Conference, this session held on September 17 featured country presentations by CACCI Primary Members which aimed at providing more information about the economic conditions and investment opportunities of the member countries, and the activities of the CACCI Primary Members. The following organizations made their respective country presentations: Mr. Arham Abdul Rahman, Director, Foreign Investment Coordination Division, Malaysian Investment Development Authority (MIDA); Yeap Kok Peng, Vice President, Economics and Investment, Iskandar Regional Development Authority; Dr. Ali Akbar Farazi, Vice President, International Affairs, Iran CCIMA; Mrs. Magvan Oyunchimeg, Vice Chairman, Mongolian National CCI; and Mr. Georgy Petrov, Vice President, CCI of the Russian Federation. The session was chaired by Mr. Simon Whitelaw, President, Malaysian International CCI.

CACCI welcomes new affiliate and lifetime special members - (From left-right) Ms. Wang Shanshan, CCPIT Officer, Mr. Zang Yafei, Chairman of the CCPIT Commercial SubCouncil, CACCI Immediate Past President Amb. Benedicto Yujuico, CACCI Deputy Director General Mr. Amador Honrado Jr. CACCI announced the admission of the Chinese Council for the Promotion of International Trade (CCPIT) Commercial Sub-Council, as the newest Affiliate Member. The CCPIT Commercial Sub-Council is a non-governmental body representing a wide section of the Chinese business community. CACCI also formally admitted five new Lifetime Special Members: Mr. Obaidur Rahman, Managing Director, Dorasco Limited (Bangladesh); Mr. Golam Sarwar Milon, Chairman and CEO, Penta Group (Bangladesh); Waho Shoji Co. Ltd. (Mr. Masaki Osada, Director, Global Marketing and Business Development, Japan); Mr. Khaliq Ahman Minhas, CEO, Tariq Pipe Industries (Pvt) Ltd. (Pakistan); and Mr. Oscar C. De Venecia, Chairman, Basic Energy Corp. (Philippines).

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Delegates from the Philippines, Australia, India, Russia and Turkey network and socialize over cocktails before the 28th CACCI Conference Gala Dinner Party.

(1) MICCI President Mr. Simon Whitelaw accepts Testimonial of Appreciation from CACCI outgoing President Amb. Benedicto Yujuico and incoming President Mr. Jemal Inaishvili, in recognition of their efforts in organizing the 28th CACCI Conference. (2) Delegates listen to newly-elected CACCI President Mr. Jemal Inaishvili as he makes his acceptance speech at the gala dinner.

Winners of the CACCI Awards celebrate their victories at the 28th CACCI Conference Gala Dinner. From left to right: Big Chamber Awardee South Urals CCI Vice President Mr. Igor Aristov joined by officers of the Chamber of Commerce and Industry of the Russian Federation (CCIRF), Small Chamber Awardee San Pablo City CCI President Mr. Romeo Race, and Young Entrepreneur Awardee Mr. Hendy Setiono.

Delegates take advantage of the opportunity to connect with participants from other CACCI countries. The 28th CACCI Conference served as an excellent venue for members of the public and private sector to discuss relevant issues concerning the development of the Asia Pacific region as a whole.

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Pakistan trade mission visits Philippines

A Pakistan trade mission led by Zakar ia Usman, pres ident ,

Federation of Pakistan Chambers of Commerce & Industry (FPCCI) arrived for a three-day visit to the Philippines last Aug. 28.

T h e m i s s i o n m e t w i t h t h e delegation of Philippines Chamber of Commerce and Industry (PCCI) led by Miguel B. Varela, chairman PCCI on Aug. 28 and with Trade undersecretary Poncialo C. Manalo Jr. on Aug. 29.

During i ts meet ing with the PCCI an MOU on establishing a joint business council between Pakistan and Philippines was signed.

The delegation was also briefed about investment opportunities in the Phi l ippines by the Board of Investments. In addition B2B meetings with the local business community were also arranged.

During the meetings the two sides highlighted the need for enhancing bilateral trade and investment between Pakistan and Philippines. It was agreed that the two sides would exchange

Five women entrepreneurs from CACCI Countries nominated for IWEC Awards 2014

bus iness de lega t ion on regular basis and ensure participation in exhibitions in the two countries.

S e v e r a l a r e a s f o r collaboration were identified for collaboration including energy, food processing, sports goods, surgical goods, pharmaceuticals, rice, etc. It was also agreed to hold the inaugural session of a Joint Economic Commission between the two countries in the near future.

The two s ides a l so emphasized the need for initiating negotiations on F TA b e t w e e n P a k i s t a n and the Philippines. The Philippine side said they were considering opening a trade office in Karachi soon.

P h i l i p p i n e A m b a s s a d o r t o Pakistan Domingo D. Lucenario Jr., and Philippine Commercial Counselor accredited to Pakistan John Paul

Five women entrepreneurs from CACCI member countries are

nominated for the International Women Entrepreneurial Challenge Awards (IWEC Awards) 2014 to be held on November 16-19, 2014 in Stockholm, Sweden.

The five women entrepreneur awardees are: Ms. Emine Sahinkaya, Owner, Asanteks Tekstil San, VE, TIC, A. S. (Turkey); Ms. Pacita U. Juan, Founder & President, Echostore Sustainable Lifestyle, (Philippines); Ms. Milagros L. Lacson, President, MIL Export (Philippines); Ms. Ma Ai-Jeng (Jenny Ma), Chairman, Jang Fu Enterprise Co., Ltd. (Taiwan); and Dato’ Hazimah Binti Zainuddin, Managing Director, Hyrax Oil Sdn. Bhd., (Malaysia).

The IWEC Awards, which is an international award presented to extraordinary women entrepreneurs, will be hosted by the Chamber Trade Sweden. This year’s IWEC Awards will follow the theme “Ensuring the health of your business in a global competitive world” and will give recognition to 35 women entrepreneurs for their excellence in their respective fields.

Organized by the Federation of Indian Chamber of Commerce and Industry Ladies Organization (FICCI-FLO) and supported by CACCI, the IWEC Awards is a milestone as it binds four continents – Africa, Asia, Europe and the USA.

Leading women entrepreneurs from Bangladesh, Ethiopia, India,

Indonesia, Thailand, Kenya, Mongolia, New York, Nigeria, Pakistan, Sri Lanka, South Africa and Spain will lead and inspire other women to follow in their footsteps. Up to three awards are given for each participating Chamber at the International Conferences held every year. The Chamber and its Directors are invited to the Annual Conference to receive their award and to share with the attendants their best practices. The Conferences have been, so far, held in Barcelona, New York City, New Delhi India and Cape Town - South Africa.

For more information on IWEC 2014, interested parties may wish to visit the official website at: http://www.iwecawards.com/common/11090/default.cfm?clientID=11090

B. Inigo were also present during the meetings. The visit provided an excellent opportunity for bringing about a better coordination between the business communities of the two countries. Philippine Star/PCCI

Philippine Trade and Investment Center in New Delhi Commercial Counselor John Paul B. Inigo (right) poses with (from left, first row) FPCCI president Zakaria Usman, PCCI chairman Miguel B. Varela, Pakistan Ambassador to the Philippines Safdar Hayat, Philippine Ambassador to Pakistan Domingo Lucenario Jr., Department of Foreign Affairs (DFA) Undersecretary Laura del Rosario, and (second row) FPCCI vice president Mian Mahmood Ahmad during the signing of the memorandum of understanding for setting-up of joint business council between PCCI and FPCCI at the Commerce and Industry Plaza in Fort Bonifacio, Taguig City.

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CACCI, ICC Asia, PCCI hold ATA Carnet workshop in Manila

ICC Asia Director Mrs. Lee Ju Song (left) conducts ATA Carnet System workshop in Manila.

ICC Asia Director, Mrs Lee Ju Song, successfully conducted a 2-day ATA

Carnet System Workshop on August 26-27, 2014 in Manila. Hosted by the Philippine Chamber of Commerce and Industry (PCCI), and co-organized by CACCI, the workshop was attended by Senior Officials from the Philippines Bureau of Customs (BOC) and trade promotion agencies, business leaders and representatives from PCCI, freight forwarders and fair organizers. The event was followed by meetings with PCCI and BOC to discuss the early implementation of the System in the Philippines.

The Joint Workshop is part of the ICC on-going collaboration with CACCI in helping the expanding international business community in Asia to successfully develop their exports as the ATA Carnet System is a

powerful marketing tool.Both the BOC and PCCI support

ICC’s call for the early implementation of the System. Mr Sergio R. Ortiz-Luis, Jr., PCCI Honorary Chairman and Treasurer, and Mr Donald Dee, PCCI Honorary Chairman and COO, told participants that the implementation of the System will bring definite

ACCI, IORA invite members to “Women’sEconomic Empowerment Breakfast”

Th e A u s t r a l i a n C h a m b e r o f Commerce and Industry (ACCI)

and the Indian Ocean Rim Association (IORA) are extending their invitation to CACCI members to attend the “ACCI Women’s Economic Empowerment- A Regional Imperative Business Breakfast” on October 8, 2014 in Crown Burswood, Perth, Australia.

The event is being held as part of the IORA Council of Ministers Meeting to draw attention to the importance and benefits of improved women’s economic empowerment to the region. It aims to bring together business leaders and senior politicians to discuss how both business and government can practically deliver on gender diversity and economic empowerment throughout the Indian Ocean Rim.

The event, being run by ACCI’sProductivity Leadership Program, is free of charge to attendees. It will be facilitated by Chamber of Commerce and Industry of Western Australia (CCIWA) Chief Executive Officer, Ms. Deidre Willmott.

To f ac i l i t a t e pa r t i c i pa t i on , in teres ted par t ies may vis i t the following website to register online: ht tp: / /www.iora.net/events/14th-council-of-ministers,-perth,-australia/registration-of-business.aspx

For inquiries, please send your e-mails to IORA2014@dfat.gov.au or contact Ms. Sarah McGregor, Manager of Membership Services & Marketing, ACCI via tel: 02-6270-8031 or at sarah.mcgregor@acci.asn.au

economic benefits to the business community and enhances Philippines’ competitiveness and cultural exchanges and deve lopment s in sc i en t i f i c researches.

Mrs Lee conducted a series of interesting and interactive sessions during the Workshop which focused on addressing the concerns of Customs and how the Philippines businesses can use the ATA Carnet System to successfully develop their exports.

The Workshop is timely as it brought about a better appreciation that as the Philippines intensifies her regional integration through ASEAN and APEC, it is important to speed up her efforts in internationalizing her trade and Customs practices through the implementation of the System which will form an important step in her integration process.

The 2-Day Workshop is also successful in that it has led to a confirmation by the Phi l ippines Customs that it supports the early implementation of the System via the ratification of the Istanbul Convention by the Philippines Government, which is expected to take place soon.

According to Mrs Lee, “ the early implementation of the System w i l l p r o v i d e t h e m u c h n e e d e d encouragement to other ASEAN members to rapidly ratify the Istanbul Convention and help speed up the opening of new business opportunities and he lp b r ing the Ph i l i pp ines businesses to their next level of advancement.

PRODUCT & SERVICE COUNCILS

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Asian Tourism Council

Japan expands tax-free list to encourage tourist spending

This October, Japan is giving foreign tourists a new - and tax-free - incentive to visit. Those buying confectionery, cosmetics and health goods will no longer have to pay tax on them from Oct 1, when these items are added to the country’s tax-free list.

After welcoming a record 10.3 million overseas visitors last year, the government wants to keep the cash registers ringing, but is concerned that the sales tax will dampen spending.

This went up from 5 percent to 8 percent last April, and is expected to rise again to 10 percent in October next year. Hence the tax-free move.

Foreign tourists who spend more than 5,000 yen (US$48) at designated tax-free shops just need to show their passports to have the tax portion deducted at the point of purchase.

Business consultant Teng Theng Dar, 62, said that he usually spends about 5,000 yen (US$48) on chocolates for family members and friends, and up to 20,000 yen (US$191.9) on cosmetics for his wife on his Japan trips. The Straits Times

Asian SME CouncilSimplify trade process for SMEs, Asean urged

The Philippines pushed anew for the simplification of rules and processes during a regional economic ministers’ meeting in Myanmar, to allow local small- and medium-sized enterprises (SMEs) to benefit from free trade agreements and the liberalization of cross-border flows throughout the region.

Philippine Trade Secretary Gregory L. Domingo said this would be on the agenda of the Asean Economic Ministers Meeting in Myanmar, which began last Aug. 24 and ended on Aug. 28.

“As always, our push is for SME trade facilitation, so it will be easier for our SMEs to trade with other companies in other Asean countries. We need to simplify the rules for the SMEs,” said Domingo. “This should however be a regional effort, meaning it should be implemented across the region.”

Since early this year, the trade chief has been saying that the current rules and regulations governing free trade agreements and other bilateral agreements are largely meant for the big companies. Philippine Daily Inquirer

Asian Garment and Textile Council

Vietnam garment, textile industry facing cotton shortage

The Vietnam garment and textile sector has to import a large quantity of cotton as domestic cotton production met only 1 percent of the garment and textile producers’ demand.

Ho Thi Kim Thoa, Vietnam’s Deputy Minister of Industry and Trade, told a conference on the garment and textile industry on August 25 that the sector lacked cotton because the total land area planted to the crop in the country had dropped from 30,000 hectares to 10,000.

Cotton has been the industry’s principal raw material, and Vietnam

needs more than 400,000 tons to meet rising demand, Thoa said. She added that imports would continue to be the main source of cotton for the industry.

Thoa said cotton growers had to face numerous difficulties, though the Prime Minister had approved a cotton development program to be implemented from 2015 to 2020. Viet Nam News

Asian Council on Water, Energy and

Environment Myanmar government advised to avoid coal, mega dams in energy strategy

Myanmar should avoid coal to solve its energy shortage and opt for clean energy sources such as small- and mid-scale hydropower plants, energy analysts told a September 17 forum on power development.

“Myanmar needs more electricity, but the energy needs to come from clean sources,” Parami Energy Group CEO Pyae Wa Tun said.

Coal-fired plants planned for coastal and northern areas will destroy the environment around them within a decade, he said. “That’s why we are urging the use clean energy,” he added.

Pyae Wa Tun also pointed to other problems associated with coal-fired power plants, including their reliance on importing coal. “Producing electricity from coal-fired power plants is not easy. We have to import coal from Indonesia and Australia,” he said.

M o r e o v e r , i n t e r n a t i o n a l development banks that provide funding to develop infrastructure for energy production also refuse to fund coal-fired plants, analysts said. Eleven Media Group

ECONOMIC COOPERATION NEWS

13

Close economic partnership for Singapore, Australia

Australia has lived up to the pledge of its new government to focus on Asia, and the shift will strengthen in the coming years with new trade deals and enhanced exchanges, including with Singapore, its foreign minister, Julie Bishop, said in an interview.

“We’ve certainly lived up to the promises that PM (Tony) Abbott made in opposition and our focus will be more on the region,” Bishop said.

Since the prime minister came into office last September, Abbott’s administration has sealed free trade agreements (FTAs) with Japan and South Korea , repai red re la t ions with Indonesia damaged by spying revelations and is in the “final stages” of talks with China on a bilateral FTA, Bishop noted.

On August 22, foreign, trade and defence ministers from Singapore and Australia announced the two nations will upgrade ties to a new comprehensive partnership under the 10-year Project 2025. The Straits Times

Opportunities abound for Thai investors in Sri Lanka

Greater opportunities are waiting for Thais to trade and invest in Sri Lanka in var ious sectors , as i t s government has opened the country up for development since the end of the civil war, according to both Thai and Sri Lankan officials and investors.

“After the end of the civil war in May 2009, Sri Lanka’s economy has grown considerably,” said Thai Ambassador to Sri Lanka Nopporn Adchariyavanich. “With emerging growth, it has high demand for many things, which Thai investors should explore.”

He noted that not only did the domestic Sri Lankan market offer high potential, but the country could serve as

a business springboard to neighbouring countries.

Nopporn relayed this message during a media trip to Sri Lanka organised by his embassy in August.

He pointed out that Sri Lanka was attracting more investment from China, India, and Asean countries now that it enjoyed political stability and strong economic growth. The Nation

China investments in Malaysia to top US$1 billion

Approved investments from China into Malaysia are expected to exceed US$1 billion this year from more than US$900 million last year, said Embassy of the People’s Republic of China to Malaysia economic counsellor Wu Zhengping.

“Establishments such as the Qingzhou and Kuantan industrial parks create a new two-way investment model between our two countries,” Wu said.

H e s a i d t h e r e w e r e o t h e r investments at the exploration stage including a cement factory as well as a clean energy system, in which electricity is generated from garbage.

S p e a k i n g a t t h e “ R M B Globalisation – Milestones and Future Prospects’’ conference in Kuala Lumpur, Wu said it was possible to bring the bilateral trade volume between Malaysia and China to US$160 billion by 2017. The Star Malaysia

Korea, Canada sign free trade deal

T h e g o v e r n m e n t s o f S o u t h Korea and Canada signed a broad free trade deal on September 22 that will gradually lift almost all tariffs on agreed products to be traded between both nations over the next 10 years.

S o u t h K o r e a ’s C o m m e r c e Minister Yoon Sang-jick signed the deal with his Canadian counterpart in Ottawa, following a summit between the leaders of the two countries. The signing ceremony was attended by

South Korean President Park Geun-hye and her counterpart Canadian Premier Stephen Harper, after the two discussed an array of bilateral and global issues including security and economic cooperation.

Park was on a s ta te vis i t to Canada, as part of a weeklong overseas trip. After her Canada visit, she is scheduled to attend the UN Climate Summit and General Assembly.

President Park said the free trade deal sealed with Canada will maximize cooperation between the two countries.

“The free trade deal will provide a new impetus to maximize the potential power of bilateral cooperation,” Park said during an official welcoming ceremony held at the residence of Canada’s Governor General David Johnston. The Korea Herald

Indonesia welcomes more transport investment from Singapore

I n d o n e s i a w e l c o m e s m o r e investments from Singapore in the transport sector to help the vast archipelago’s push to improve its infrastructure, president-elect Joko Widodo said.

Infrastructure and industrial manufacturing will be key priorities of his administration, he said, and flagged collaboration on urban rail networks, seaports and airports to improve connectivity within and between cities and islands as an area where bilateral cooperation can be enhanced.

“You have exper i ence wi th the subway, the MRT. And we must start with our railways in Sumatra, Kalimantan, Sulawesi, also Papua, to make our logistics distribution faster and to connect city to city,” he said.

Both sides could also explore working together on industrial parks along the lines of those in Batam and Bintan in areas in eastern Indonesia, where good jobs need to be created, he added. The Straits Times

14

INVESTMENT & JOINT VENTURES IN THE REGION LG, Tata talk about possible

c o l l a b o r a t i o n - L G G r o u p cha i rman Koo Bon-moo was reportedly in talks with Tata Motors chairman Cyrus Pallonji Mistry on supplying vehicle components, industry sources said on September 23. According to LG, Koo and Mistry met in late August, when the latter visited South Korea with top executives in the vehicle business. LG vice chairman Koo Bon-joon and Lee Woo-jong, head of the vehicle components department, accompanied chairman Koo at the meeting after giving the Tata delegation a tour around the LG campus in Incheon. “The meeting was arranged on Tata’s request. Our chairman is believed to have introduced the group’s overall vehicle component business in Korea and India,” an LG spokesman said in an interview. Car components have become a next-generation business for LG since June 2013, when the business group merged all relative units into the VC division. But what draws more attention from market experts is LG and Tata’s possible collaboration on the electric vehicle production. LG is regarded as one of the global powerhouse in EV batteries, camera modules and motors while Tata is known to be devoted to mid-to-small EV development as a means to edge out its market competitor and India’s largest carmaker Mahindra. The Korea Herald

Toyota sets $45.7M investment in Philippine plant - Toyota Motor Philippines Co. (TMP) plans to invest another 2 billion pesos (US$45.7 million) in its manufacturing plant in Sta. Rosa, Laguna in south of Manila as it prepares to embark on a full model change of the Innova given its bullish outlook on the local automotive sector. This additional capital outlay is on top of the 700 million pesos ($16 million) that TMP earlier committed to invest this year. On the sidelines of the company’s 26th anniversary celebration Tuesday night, TMP president Michinobu

S u g a t a e x p l a i n e d t h a t h u g e investments were needed for the upgrade of the Innova as the current model was more than a decade old. New equipment will also be needed

to increase the use of local parts for the Innova, to more than 40 percent from the current 30 percent. Sugata declined, however, to disclose details on when the company expected to roll out the new Innova, but said preparations for the full model change had begun. Meanwhile, TMP remained bullish on its sales prospects in the Philippines, having raised its vehicle production target to 41,000 units (of Innova and Vios models) this year from

the 36,000 units produced at the Sta. Rosa plant last year. Philippine Daily Inquirer

Lotte Mart opens first supermarket in Jakarta - Lotte Mart, the supermarket unit of South Korean conglomerate Lotte, opened its first small-sized supermarket in Jakarta on August 21. The opening of the 1,300-square-metre Lotte Mart “Kemang” branch, located on the ground floor of Amaris Hotel, comes six years after the company started running large-scale stores in Indonesia. The store is about 20-30 percent the size of an ordinary Lotte Mart and will display 10,000 items. About two-thirds of these items will be high-end groceries such as imported cheese, cooking oil, organic vegetables and premium beef. The target customers will be middle- and upper-class citizens, according to Lotte Mart. “We have established a vast network in Indonesia and this will be a good opportunity

to make the most of our know-how in management and logistics,” said Kim Yo u n g - k y u n , a L o t t e

Mart official. “We are considering opening additional outlets in Jakarta and other cities in the near future.” According to Lotte, the Indonesian retail market is ripe with business opportunities, with the sector posting double-digit growth rates over the past few years. The Korea Herald

Singapore label makes its mark in Vietnam - A Singapore family business that has been in garment manufacturing for decades opened its first retail outlet in Hanoi on September 23, and emeritus senior minister Goh Chok Tong was there to show his support for clothing label Don Singapore and other local small and medium-sized enterprises (SMEs) that expand overseas. The brainchild of Royce Kwok, 55, and his son Nicholas Kwok, 26, the label started as an online store in 2011. Today, the younger Kwok runs Don Singapore, while his father runs parent company and garment manufacturer Norfolk Global, which has an annual turnover of US$40 million. Norfolk Global has been opera t ing in Vietnam since 1992, and has over 2,000 employees and two factories occupying 90,000 sq m in total. It produces clothes for international brands like Antigua Apparel, but finally invested US$1 million into Don, its retail arm. “After doing this for 20 years, we wanted to move from manufacturing other people’s designs to producing our original ones,” the older Kwok said. The Straits Times

CACCI Profile, October 2014

15

DATES 2014

NAME OF FAIR (Further Information)

VENUE

5-8 Nov.

Int’l Footwear Fashion Fair (CNR Holding, Tel: 90-212-465-7474, Fax: 90-212-465-6450, Email : info@ cnraymod.co, URL: cnraymod.com)

Istanbul Turkey

5-8 Nov.

Vietnam Int’l Plastics & Rubber Industry Exbn (Chan Chao Int'l Co., Ltd., Tel: 886-2-2659-6000, Email: exfdp@chanchao.com.tw, URL: www.vietnamplas.com)

HCMC Vietnam

5-9 Nov.

Taiwan Int’l Machine Tool Show (Taiwan Machine Tool & Accessory Builders' Assn, Tel: 886-4-2350-7584, Contact: Ms. Ann Chen, Email: ann chen@tmba.org.tw, URL: www.tmts.tw)

Taichung Taiwan

6-8 Nov.

HK Int’l Wine & Spirits Fair 2014 (HK Trade Development Council, Tel: 852-1830-668, Email: exhibitions@ hktdc.org, URL: www.hktdc.com)

Hong Kong

6-9 Nov.

2014 Kaohsiung Food Show (Taiwan External Trade Development Council, Tel: 886-2-2725-5200, Contact: Ms. Eva Chuang, ext. 2671, Email: foodkh@ taitra.org.tw, URL: www.foodkh.com.tw)

Kaohsiung Taiwan

8-11 Nov.

Iran Int’l Electricity Exbn (M&T Solutions Co., Tel: 98-21-4291-7000, Fax: 98-21-4291-7100, Email: sales@elecshow.ir, URL: elecshow.ir)

Tehran Iran

11-14 Nov.

Moscow Int’l Tool Exbn (Euroexpo Moscow, Tel: 7-495-925-6561/62, Fax: 7-499-248-0734, Email: katherin@euro expo.ru, URL: www.mitexpo.com)

Moscow Russia

12-14 Nov.

Int’l Agriculture & Machinery Expo (PT. Kerabat Dyan Utama, Contact: Sally Silvani, Tel: 62-21-392-6867, Email: vani@radyatama.com, URL: www.agriculturexpo-indonesia.com)

Surabaya Indonesia

12-14 Nov.

Int’l Healthcare Engineering Exbn (Japan Management Assn., Tel: 81-3- 3434-1988, Fax: 81-3-3434-8076, URL: www.jma.or.jp/hospex)

Tokyo Japan

12-14 Nov.

Int’l Transport and Logistics - TransUzbekistan 2014 Exbn (ITE Uzbekistan, Tel: 998-71-113-0180, Email: transuz@ite-uzbekistan.uz, URL: www.ite-uzbekistan.uz)

Tashkent Uzbekistan

12-14 Nov.

VIETWATER 2014 (UBM Vietnam HCMC Office, Tel: 84-8-5401-2718, Fax: 84-8-5401-2717, Email: vietwater @ubm.com, URL: vietwater.com)

HCMC Vietnam

12-15 Nov.

Food Week Korea 2014 (Food Week Secretariat, Contact: Ms. Devora Seonae SONG, Tel. 82-2-6000-8138, Email. foodweek.info@coex.co.kr, URL: foodweek.info)

Seoul Korea

13-16 Nov.

Myanmar Int'l Electrical, Electronics & Electric Power Equipment Fair / Int’l Machine Tool & Automation Exbn (Chan Chao Int’l Co., Ltd., Tel: 886-2- 2659-6000 ext.187, Contact: Ms. Angel, Email: angel@chanchao.com.tw, URL: mt.emmafair.com)

Yangon Myanmar

14-27 Nov.

India Int’l Trade Fair (India Trade Promotion Org., Tel: 91-11-2337-1814, Fax: 91-11-2337-1869, Email: kpsingh @itpo.gov.in, URL: www.iitf.in)

New Delhi India

17-19 Nov.

JEC Asia 2014 Composites Show (JEC Group, Tel: 33-1-5836-1502, Email: strassburger@jeccomposites. com, URL: www. jeccomposites.com)

Singapore

17-20 Nov.

Iran Int’l Water and Wastewater Exbn (M&T Solutions Co., Tel: 98-21-4291- 7000, Fax: 98-21-4291-7100, Email: sales@watex.ir, URL: watex.ir)

Tehran Iran

18-20 Nov.

Australia's Int’l Sourcing Fair (Informa Exhibitions Australia, Tel: 613-8672- 1200, Email: sourcingfair@informa.com, URL: www.sourcingfair.com.au)

Melbourne Australia

19-21 Nov.

Tokyo Int’l Industry Exbn 2014 (Executive Committee, Tel: 81-3-5320- 4744, Email: ofc@sangyo-koryuten.jp, URL: www.sangyo-koryuten.jp)

Tokyo Japan

19-22 Nov.

METALEX 2014 (Reed Tradex Co., Ltd., Contact: Ms. Sirirat Sungvichai, Tel: 66-2686-7299, Email: metalex@reed tradex.co.th, URL: www.metalex.co.th)

Bangkok Thailand

21-24 Nov.

Taiwan Jewellery & Gem Fair (UBM Asia Ltd., Taiwan Branch, Tel: 886-2- 2738-3898, Email: info-tw@ubm.com, URL: www.taiwanjewelleryfair.com)

Taipei Taiwan

25-27 Nov.

Int’l Glass Products, Glass Manufacturing, Processing & Materials Exbn (CEMS, Tel: 65-6278- 8666, Email: info@cems.com.sg, URL: www.glasstechasia.com.sg)

Manila Philippines

25-28 Nov.

Int’l Exbn of Technologies for the pharmaceutical industry (ITE Moscow, Tel: 7-495-935-7350, Email: pharmtech@ ite-expo.ru, URL: www.pharmtech-expo.ru)

Moscow Russia

26-30 Nov.

MÜSİAD Int’l Fairs (MÜSİAD Head- quarters, Tel: 90-212-395-0000, Fax: 90-212-395-0001, Email: fairs@musiad. org.tr, URL: www.musiadfair.com)

Istanbul Turkey

27-30 Nov.

HK Int’l Jewelry Manufacturers' Show (HK Jewelry Manufacturers' Assn., Tel: 852-2766-3002, Email: visitor@jewelry. org.hk, URL: vwww.jewelryshows.org)

Hong Kong

27-30 Nov.

Gwangju Int’l Food Fair (Kimdaejung Convention Center, Tel: 82-62-611- 2213, Email: food@foodshow.kr, URL: www.foodshow.kr)

Gwangju Korea

FAIRS & EXHIBITS IN ASIA-PACIFIC

CACCI Profile, October 2014

16

TECHNOLOGY New smartphone app gives sight to the blind

The KNFB Reader app can recognise and

translate text from up to 7.6metres away.

Jonathan Mosen, who has been

blind since birth, spent his evening

snapping photos of packages in the

mail, his son’s school report and

labels on bottles in the fridge. In

seconds, he was listening to audio of

the printed words the camera

captured, courtesy of a new app on

his Apple Inc iPhone.

The new app that allows blind

people to listen to an audio readback

of printed text is receiving rave

reviews after its first day of

availability and is being heralded as a

life-changer by many people.

Blind people say the KNFB

Reader app will enable a new level of

engagement in everyday life, from

reading menus in restaurants to

browsing handouts in the classroom.

The $99 app is the result of a

four decades-long relationship

between the National Federation of

the Blind and Ray Kurzweil, a

well-known artificial-intelligence

scientist and senior Google employee.

According to its website, K-NFB

Reading Technology Inc and

Sensotec NV, a Belgium-based

company, led the technical

development of the app.

Taking advantage of new

pattern recognition and image-

processing technology as well as new

smartphone hardware, the app allows

users to adjust or tilt the camera, and

reads printed materials out loud.

Reuters Hyperponic farm merges agriculture with technology, innovation and philanthropy

On busy U.S. 19 in south St.

Petersburg not far from the Pinellas

Trail, a quarter acre of land owned by

the Sacino family has been designated

for an urban farm that will be

high-tech, sustainable and off the grid.

Solar panels will generate

power to keep the lights on at night

and circulate water to the crops. A

computerized system, which can be

monitored from an off-site laptop,

will oversee the

watering process.

And innovative

technology will

help the plants

grow, not in

raised beds, but in

vertical crop

towers.

Entrepreneur Doug Fyvolent

and veteran grower Richard Carroll,

of Carroll Brothers Nursery, are

partners in the new venture, which

they’re calling a Hyperponic Farm.

It’s a play on words that

incorporates the trendy hydroponic

drip-method of growing plants. But

the two are quick to point out that the

technology they’ve developed is a

significant improvement on what’s

currently available in the

marketplace.

Carroll and Fyvolent have a

patent pending on their trade-marked

Hyperponic Farm CropTowers which

they say can boost productivity at the

farm dramatically.

“It’s a concept derived from

Epcot’s Land of the Future, but they

use a spray system that could get

clogged. We wanted something easier

to operate,” says Carroll, whose

family has operated a retail garden

center in St. Petersburg since the early

1950s. “Land is getting so expensive

in the urban environment that growing

up – vertically — is the future of farming,” he says. 83 Degrees Media EVT Eye Vision Technology: Vision sensors

EVT Eye Vision Technology’s

EyeSens BI

(Bottle Inspect)

vision sensor is

suitable for the

inspection of

beverage bottles.

This vision

sensor contains prefabricated

programs to inspect bottles if the cap

is closed, open, askew, or missing. In

addition to checking the position of

the label the EyeSens BI can check if

the bottles have the same label as the

whole charge.

With the corresponding Web

interface, inspection programs can be

configured via intuitive command

icons directly on the object without

programming skills. Instead of

installing complex software the user

can type the IP address of the camera

into the Web browser. At that point

the user interface opens in the

browser window, and the vision

sensor is ready. Pack World

Published monthly by the Secretariat, Confederation of Asia-Pacific Chambers of Commerce and Industry

Victor C. Y. Tseng, Director General; Amador R. Honrado, Jr., Editor

Jacqueline Uy, Associate Editor; Wendy Yang, Contributing Editor; Julia Hsu, Assistant Editor

14/F, No. 11, Songgao Road, Taipei 11073, Taiwan; Tel: (886 2) 2725-5663/4; Fax: (886 2) 2725-5665

Email: cacci@cacci.org.tw; Website: www.cacci.org.tw

CACCI Profile, October 2014

17

Bangladesh Bangladesh recording trade surplus

for the first time

For the first time in its history,

Bangladesh recorded a trade surplus in

a month, but it was because of a decline

in imports indicating signs of slowing

down of the economy.

The trade surplus stood at $195

million in July, the first month of the

current fiscal year. There was a deficit

of $129 million in the same month a

year ago, according to data from the

central bank released September 23.

In an immediate reaction, a

central bank official said it was the first

time a trade surplus happened in the

country’s history.

Both export and import growths

were negative in July. But it was the

steep fall in imports that contributed to

the surplus. The Daily Star Indonesia Indonesia’s price hike has little impact

on inflation, says ADB

Indonesia will see limited

cost-push inflationary pressures from

the mulled adjustment in fuel prices,

even if president-elect Joko “Jokowi”

Widodo opts to hike the price of

subsidized fuel by up to 50 percent, the

Asian Development Bank (ADB) says.

Inflation may only surge to 6.9

percent next year, according to the ADB,

which estimated its assumption based

on a subsidized fuel adjustment of

between 30 and 50 percent from its

current price of 6,500 rupiah (54 US

cents) per litre.

“Our high inflation last year was

mostly because of the restriction on

horticulture imports and the delay in the

fuel-price hike, which contributed to the

build-up of inflation expectations,”

Edimon Ginting, ADB’s chief

economist for Indonesia, told a press

briefing on September 25.

He suggested the fuel price hike be

undertaken sooner rather than later,

especially as now commodity prices

were still on a downward trend, thus

limiting high increases in food prices if

the fuel-price hike was implemented.

The Jakarta Post

Iran Iran economy attains positive growth

after two years

The Central Bank of Iran (CBI)

says the country’s economy has attained

positive growth for the first time in two

years.

New figures released by the CBI

on September 25 shows the economy

expanded 4.6 percent in the first quarter

of the current Iranian calendar year

(started March 21, 2014).

According to the data, Iran’s

agriculture, oil, mine and industry

sectors posted positive growth rates of

up to 8.1 percent during the period.

Iran’s economic growth rate

turned positive after the country

experienced months of stagflation,

suffering negative economic growth

combined with rising inflation rate.

In the last Persian calendar year

(ended March 20, 2014) Iran’s economy

shrank to -1.9 percent. PressTV Iran

Malaysia Malaysia’s GDP to exceed 5%-5.5%

forecast this year

Malaysia’s central bank will look

at the country’s economic growth rate

and inflation for any revision of the

overnight policy rate (OPR) and expects

the country’s gross domestic product

(GDP) to exceed the 5-5.5 percent

forecast.

“It is not just as straightforward as

that, because we will look at the source

of the growth and inflation adjustments.

“If they are viewed to be of a

permanent nature or whether it’s

transitory and temporary, this would

have implications on our decision (on

OPR),” governor Dr Zeti Akhtar Aziz

said after launching the Financial

Services Professional Board (FSPB) on

September 24.

She said the central bank would

also look at the risk of any destabilizing

financial imbalances and these factors

would also be taken into consideration.

The Star

Pakistan Pakistan’s industry grows 3.9% in

FY14

Large-scale manufacturing (LSM)

in Pakistan posted a growth of 3.95

percent in the outgoing fiscal year

2013-14 from a year ago.

The industrial output witnessed a

positive growth in the outgoing fiscal

year mostly with few exceptions, where

industries entered a negative growth,

suggested data from Pakistan Bureau of

Statistics on September 22.

This reverse in manufacturing

sector growth was mainly driven by an

increase in 11 categories of items

during the year under review over the

corresponding previous year.

Major contribution towards

positive growth in LSM performance in

2013-14 was from textile 1.32 percent;

food and beverages 7.16 percent;

petroleum products 6.22 percent, paper

and board 10.99 percent; fertilizers

16.50 percent; electronics 9.55 percent;

iron and steel products 5.58 percent;

leather products 11.65 per cent;

chemicals 6.87 percent; non-metallic

mineral products 0.79 percent and

rubber products 11.47 percent. Dawn

Philippines Filipino miners air anxiety over

proposed bill

Mining companies in the

Philippines have expressed their

uneasiness over a proposed bill of the

interagency Mining Industry

Coordinating Council, under which the

government will receive a 10-percent

share in the industry’s gross sale, or 55

percent of the adjusted net mining

revenue, plus a share in windfall profit,

whichever is higher.

POLICY UPDATES (A compilation of rules, laws and policies on trade and investments in CACCI member countries)

CACCI Profile, October 2014

18

This is on top of national and

local taxes including real property tax,

value-added tax, capital gains tax, stock

transaction tax, documentary stamp tax

and withholding tax on passive income,

as well as regulatory fees and charges.

According to data from the Asian

Development Bank’s Office of

Regional Economic Integration, the

industry’s contribution to the

Philippines’ annual tax revenue was

only 0.9 percent.

In comparison, its counterpart in

Thailand puts in 6.9 percent; in Vietnam,

18.3 percent; and in Malaysia, 22.5

percent. Philippine Daily Inquirer

Singapore Singapore consumer confidence edges

up in September: survey

Consumers in Singapore have

become slightly more confident this

month, as they turn more optimistic on

their financial situations.

In the latest ANZ-Roy Morgan

Singapore Consumer Confidence Index

survey, 27 percent of respondents said

their family is better off financially now

than a year ago, higher than the 20

percent in the previous survey.

Thirty-three percent also expect

their family to be better off financially

in a year’s time, up from 28 percent

previously.

But 12 percent of respondents

think they are now worse off financially

than a year ago, also rising from the 8

percent in the previous survey. The

Straits Times

Taiwan Trade, food service sales continue to

show growth

Sales in wholesale trade, retail

trade and food services in Taiwan

maintained an upward trend in August,

posting year-on-year gains for the 12th

consecutive month, the Ministry of

Economic Affairs said September 23.

The sector’s sales totaled NT$1.2

trillion (US$39.7 billion) in August, up

2.2 percent from the same period of last

year, according to statistics released by

the ministry.

Wholesale trade rose 1.2 percent

year-on-year to NT$839.1 billion in

August, on growing demand for

computers, communication and

consumer electronics products, and

machinery and equipment, the ministry

said.

In the retail industry, sales rose

4.5 percent year-on-year to NT$330.8

billion last month, according to the

statistics.

Sales in the restaurant business,

meanwhile, increased 4.9 percent year

on-year in August to NT$36.5 billion,

the ministry’s data showed. The China

Post

Thailand Mega-projects ‘to boost growth’

The Junta’s economic czar, Air

Chief Marshal Prajin Juntong, on

August 27 said the government’s plans

to allocate Bt2.4 trillion for

infrastructure investment would lead to

the creation of long-term, sustainable

growth of the economy.

Speaking at the “Thailand Focus

2014: Reforming for Thailand’s

Sustainable Growth” seminar - arranged

by the Stock Exchange of Thailand,

Phatra Securities and Bank of America

Merril Lynch - Prajin, who is deputy

chief of the National Council for Peace

and Order (NCPO), said the junta would

return Thailand to a properly

functioning democracy in three phases.

It also aims to achieve sustainable

economic growth in the future via the

infrastructure investment master plan,

he said.

The NCPO is aiming for economic

growth of 2 percent this year. It expects

gross domestic product to expand by

3-3.5 percent in the second half of the

year, and by 3.5-4 percent next year.

The Nation

Turkey Turkey’s economy grows 2.8 percent in

Q2 2014: economists

Turkish economists say the

country’s economy grew by 2.8 percent

in the second quarter of 2014, according

to 25 specialists in Anadolu Agency’s

(AA) ‘Growth Expectation Survey’

released on September 5 The highest

economic growth percentage predicted

among the economists for Q2 2014 was

4.1 percent while the lowest was two

percent.

The survey said economists

expected a 3.2 percent year-end growth

in 2014, which was at four percent in

2013. The highest expectation by

economists for year-end growth in 2014

was 3.8 percent, while the lowest was

2.5 percent.

According to latest data from

Turk-Stat, Turkey’s growth rate was 4.3

percent in the first quarter of 2014.

Turkish GDP is estimated to have

increased by four percent in 2013,

compared with 2.1 percent in 2012. Its

growth rate was at 4.5 percent in the

second quarter of 2013. Daily Sabah

Vietnam Hanoi seeks to attract more foreign,

high-tech investment

Hanoi is exerting great efforts to

diversify investment promotions to

attract more capital, especially foreign

direct investment (FDI), according to

the municipal department of planning

and investment.

This city is aiming at potential

investors from Japan, South Korea,

Eastern Asia, the United States and the

European Union and is prioritizing

large-scale projects using high

technology, the department director,

Ngo Van Quy told the investment news

website baodautu.vn.

The ministry of planning and

investment’s foreign investment agency

reported that in the first half of this year,

Hanoi had attracted US$583 million in

FDI. This represents an increase of 30

percent over that of the same period last

year but accounts for only 45 percent of

the city’s total 2014 FDI target. Viet

Nam News

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