China surpasses U.S. to become Brazil's biggest trading partner

BRASILIA, May 4 (Xinhua) -- China replaced the United States to become
Brazil's biggest trading partner, said Brazil's Ministry of Development,
Industry and Exterior Trade on Monday.

According to the trade balance released by the ministry, the sum of
Brazil's exports and imports with China reached 3.2 billion U.S. dollars in
April, over the 2.8 billion dollars in its trade with the U.S.

Trade Minister Welber Barral said the change was "historic," as the U.S.
has been Brazil's biggest trading partner since the 1930s.

According to Brazil's official statistics, the bilateral trade volume
between Brazil and China reached 36.44 billion dollars in 2008, increasing 55.9
percent from 2007, among which Brazil's export volume to China hit 16.4 billion
dollars, import volume 20 billion dollars, rising 50.8 percent and 56.9 percent
from the previous year respectively.

However, Barral said that the Brazilian government is trying to diversify
the exports to China, which till now are mainly soya, cellulose, fuel, and
manufactured products.

Third phase of Canton Fair opens with measures against A/H1N1 flu

Special Report:
World Tackles A/H1N1
Flu


Visitors wear masks during the third phase of the 105th Canton Fair in Guangzhou, capital of south China's Guangdong Province, May 3, 2009. The third phase of the 105th Canton Fair, China's largest trade event, began Sunday with preventive measures against the A/H1N1 flu. (Xinhua/Lu Hanxin)
Photo Gallery

GUANGZHOU, May 3 (Xinhua) -- The third phase of the
105th Canton Fair, China's largest trade event, began Sunday in the capital of
the southern province of Guangdong with preventive measures against the A/H1N1
flu.

Organizers said there were 60 stations where
visitors' temperatures could be taken. A registration system was adopted for
guests at every hotel for the third phase of the biannual trade fair, which is a
barometer of China's foreign trade.

According to Tang Xiaoping, deputy head of the
provincial health bureau, three medical service booths were put up at the fair.

Chen Chaoren, deputy head of the organizing committee, said the fair was in good order with no A/HIN1 cases reported so far. Public venues inside and outside the exhibition hall would be sterilized every day during the trade fair, according to Chen.

A staff member checks a visiter's body temperature during the third phase of the 105th Canton Fair in Guangzhou, capital of south China's Guangdong Province, May 3, 2009.(Xinhua/Lu Hanxin)
Photo Gallery

The month-long trade fair is held in three phases.
This year, the first ran from April 15 to 19 and the second from April 24 to 28.

The current, third phase ends Thursday.

Organizers estimated nearly 130,000 business people
from 200 countries and regions would attend this session.

This part of the fair features textiles and garments,
footwear, office equipment, bags, pharmaceuticals and other medical products,
and food.

International trade fair opens in Pyongyang

PYONGYANG, May 11 (Xinhua) -- The 12th Pyongyang Spring International Trade Fair opened at the Three Revolution Exhibition of Pyongyang on Monday, aimed at expanding economic exchange and cooperation with foreign countries.

More than 200 companies from 19 countries and regions, including China, Singapore, Switzerland, Russia, Italy, Australia and Vietnam, attended the four-day event.

Over 100 Chinese companies, mainly from China's northeastern Liaoning province, took part in the fair, which is scheduled to close on Thursday.

Items on display include electronic products, machines tools, vehicles, medicines and other commodities.

The annual Pyongyang Spring International Trade Fair is organized by the Korea International Exhibition Corporation, which also holds an annual autumn trade fair.

China's Q1 bilateral trade with three major partners fall

BEIJING, May 11 (Xinhua) -- China's bilateral trade with the United States,
the European Union and Japan, its three major trade partners, continued to fall
in the first quarter, the General Administration of Customs said in a report on
Monday.

The bilateral trade volume between China and the U.S. dropped to 62.08
billion U.S. dollars in the first quarter, down 15.7 percent year on year.
Export volume to the U.S. declined to 25.52 billion dollars, falling 14.9
percent from the previous year.

China's trade surplus against the U.S. dropped to 28.96 billion dollars in
the first quarter, down 13 percent year on year.

In March, export to the U.S. contracted for the fifth month in a row to
16.45 billion dollars, but it was the first month-on-month growth since the
fourth quarter last year, according to the report.

The bilateral trade volume between China and the European Union slumped to
75.19 billion dollars, down 19.8 percent year on year. Export to the European
Union fell to 17.21 billion dollars, contracting by 20.2 percent year on year.

Germany, Netherlands and the U.K. ranked the top three among China's
European trade partners, with bilateral trade volume at 21.63 billion dollars,
8.07 billion dollars and 7.7 billion dollars, respectively.

China's trade volume with Japan slumped to 46.07 billion dollars, a drastic
year-on-year decrease of 23.8 percent, which was 4 and 8.1 percentage points
higher than decline of trade with the European Union and the United States.

Honduras, Cuba begin talks on trade agreement

TEGUCIGALPA, May 6 (Xinhua) -- Honduras and Cuba on Wednesday began the first round of negotiation here for a trade agreement to boost commercial ties.

"We are reviewing the juridical texts," Honduran negotiator Melvin Redondo said.

The purpose of the negotiation is to sign a trade agreement in June in the second round in Havana, Cuba, possibly with the attendance of Honduran President Manuel Zelaya.

The trade volume between the two countries now has reached 20 million U.S. dollars.

The two countries resumed their diplomatic ties in 2002 after a40-year hiatus.

Mexico asks WTO to help lift pork import ban

MEXICO CITY, May 5 (Xinhua) -- Mexico's Economy Ministry said on Tuesday the government had asked the World Trade Organization (WTO) to help lift import restrictions placed on Mexican pork following a deadly A/H1N1 flu outbreak.

In a letter to the 153 members of the WTO's Sanitary and Hytosanitary Measures Committee, Mexican Economy Ministry added that scientific evidence suggests there is no justification to restrict meat imports, Gerardo Ruiz Mateos, the minister, told a press conference.

Eight nations including Bolivia, Ecuador and Honduras have restricted pork imports from Mexico, which has been the epicenter of the worldwide outbreak killing 29 in the country and one in the United States.

With the eight nations representing less than two percent of Mexico's total pork trade, the ministry is trying to ensure that other nations that account for more trade do not take the same steps.

The ministry had already sent letters to those nations' governments on April 30, which argued that the measures lacked both legal and scientific basis.

The letters also called for an end to all restrictions on Mexican trade unless they were consistent with the scientific information available.

ADB Vice-President: regional co-op to help Asia first recover from crisis

Special Report: Global Financial Crisis

by Xinhua Writers Zhou Erjie, Wang Jingzhong

BALI, Indonesia, May 3 (Xinhua) -- Various regional
cooperative mechanisms, if implemented effectively, could help lift Asia first
out of the global crisis, said Zhao Xiaoyu, Vice-President of Asian Development
Bank (ADB) in an interview with Xinhua Sunday.

"Asian countries themselves have a big enough market
to generate the demand now developed countries fail to," said Zhao, "but this
requires countries to make concerted efforts under regional cooperative
platform."

Within ADB are three main existing mechanisms, namely
Greater Mekong Subregion (GMS) Program, Central Asian Regional Economic
Cooperation Unit (CAREC) and South Asia Subregional Economic Cooperation (SASEC)
initiative.

"My analysis is that once the pan-Asian cooperation
is put on track and demand is boosted, there will be very positive factors to
tackle the crisis and this is where the ADB is best at," Li said.

But the Vice-President had his concerns. "Many
governments have announced their stimulus packages, but do they have the
capacity to deliver them? And are there so many readily available projects to
spend on?" Zhao asked.

"It's all about implementation and supervision after
the plans are announced," he said.

Besides, Zhao believed trade financing to be another
critical key for the region to recover from the crisis, as the ongoing crisis
has prompted banks to reduce lending to emerging markets and cut credit lines to
both importers and exporters.

"It's not that they don't have the money, it's that
they do not have the confidence to lend it," he said.

Knowing where the rub is, the ADB has been
endeavoring to ensure trade financing through its Trade Finance Facilitation
Program (TFFP), a strong move in curing trade stagnancy of the region,
particularly in times of crisis.

The TFFP, which began operations in 2004, had been
providing finance and guarantees through international and local banks to boost
trade in developing nations.

The ADB has expanded the TFFP from 150 million U.S.
dollars to one billion. It has also increased the maximum maturity of loans
permitted under the TFFP to three years from two years. After the fund increase,
the program is predicted to generate up to 15 billion U.S. dollars in trade
financing by 2013.

"The last point," Zhao said. "is that there should be
no protectionism of any form. Trade barriers are really dangerous constrains to
Asia's recovery."

EU records 2.3-billion-euro trade surplus with Canada in 2008

BRUSSELS, May 4 (Xinhua) -- The European Union (EU) recorded a trade surplus of 2.3 billion euros (3 billion U.S. dollars) with Canada in 2008, the 27-nation bloc's statistics bureau Eurostat said Monday.

Between 2000 and 2008, EU exports of goods to Canada grew from 21.1 billion euros to 26.1 billion euros, while EU imports from Canada rose from 19.0 billion euros to 23.8 billion euros.

As a result, the EU surplus in trade with Canada remained nearly stable, at 2.1 billion euros in 2000 and 2.3 billion euros in 2008, Eurostat said on the eve of a summit between the EU and Canada, which will take place Wednesday in Prague, capital of the Czech Republic.

Among the 27 EU member states, Germany was the largest exporter to Canada in 2008, accounting for 24 percent of the total. It was followed by Britain, France and Italy. Meanwhile, Britain was by far the largest importer of Canada, followed by Germany, the Netherlands and France.

In 2008, nearly two-fifths of EU exports to Canada were machinery and vehicles, while chemicals and other manufactured article each accounted for around a fifth of exports.

Machinery and vehicles made up around a quarter of imports, and crude materials and other manufactured articles each accounted for around a fifth of imports.

EU foreign ministers agreed last week to start negotiations on a comprehensive free trade agreement with Canada, which would go beyond current commitments under the World Trade Organization rules and reinforce the already strong bilateral trade and investment relationship.

Negotiations are expected to be officially launched at the upcoming EU-Canada summit. (1 U.S. dollar = 0.756 euro)

Arab economic unity council proposes to enhance inter-Arab trade

KUWAIT CITY, Jan. 16 (Xinhua) -- Arab Economy Unity
Council called on Friday for strengthening efforts to boost bilateral trade
exchange and free trade in the Arab world.

Arab League Secretary General Amr Moussa
attends a press conference in Kuwait City, Kuwait, on Jan. 16, 2009.
Moussa on Friday highlighted the importance of the incoming Kuwait summit,
while conceding the ongoing Israeli offensive on the Gaza Strip shadows
the first-ever Arab economic gathering. (Xinhua/Noufal Ibrahim)

Photo
Gallery

The council has proposed a program to develop
inter-Arab trade, especially in light of the global economic crisis, in a
working paper to be submitted to the Arab Economic, Development and Social
Summit scheduled to be held in Kuwait on Jan. 19-20, said Kuwait's official news
agency KUNA.

The proposed program aims to raise the proportion of
inter-Arab trade in the total foreign trade of Arab states from 11.4 percent to
20 percent in five years, which requires a remarkable increase in the size and
value of inter-Arab trade equivalent of 7.5 billion U.S dollars, said the
report.

Arab League Secretary General Amr Moussa
attends a press conference in Kuwait City, Kuwait, on Jan. 16, 2009.
Moussa on Friday highlighted the importance of the incoming Kuwait summit,
while conceding the ongoing Israeli offensive on the Gaza Strip shadows
the first-ever Arab economic gathering. (Xinhua/Wang Haijing)
Photo Gallery

The council also made it clear in the program that
the trade gap in the various Arab commodities and goods estimated to be around
93 billion dollars annually.

The council said some Arab countries are witnessing a
surplus in some of their goods while others experience a deficit in the same
goods, stressing importance on a better Arab coordination to address this issue.

The upcoming Arab economic summit, the first ever in
the Arab world, would focus on the global financial crisis, infrastructure in
the Arab world and social issues, in addition to Gaza crisis, according to
coordinators for the summit.

U.S. stocks trade mixed after Chrysler files for bankruptcy

Special Report:Global Financial Crisis

NEW YORK, April 30 (Xinhua) -- Wall Street ended
mixed Thursday after the third largest U.S. automaker Chrysler announced it will
file for Chapter 11 bankruptcy.

Wall Street opened higher in the morning as investors
welcomed a surprise decline in new jobless claims and earnings beating
estimates.

The U.S. Labor Department said initial claims fell
14,000 to 631,000 last week. Economists had predicted a rise. But continuing
claims jumped to a new record.

However, the U.S. Commerce Department reported
Thursday that consumer spending dropped by 0.2 percent in March, worse than the
0.1 percent decline that economists had expected.

In a midday speech, U.S. President Barack Obama
indicated that Chrysler will form an alliance with the Italian carmaker Fiat
Group SpA.

Under the direction of the U.S. Treasury, the
troubled automaker and 24 of its wholly owned U.S. subsidiaries filed voluntary
petitions under Chapter 11 of the Bankruptcy Code in U.S. Bankruptcy Court.

In corporate news, many companies including Dow
Chemical, PG, Exxon Mobil and Newmont Mining reported results topped
analysts' expectations. And Motorola Inc. posted a loss during the first
quarter, but smaller than analysts had predicted.

The Dow Jones industrial average fell 17.61 points, or 0.22 percent, to 8,168.12. The Standard Poor's 500 index dipped 0.83 of a point, or 0.09 percent, to 872.81. The Nasdaq Composite index was up 5.36 points, or 0.31 percent, to 1,717.30.

U.S. stocks trade flat as upbeat economic data offset flu concerns

Special Report:Global Financial Crisis

NEW YORK, April 28 (Xinhua) -- Wall Street traded
flat on Tuesday, as bigger-than-expected increase in consumer confidence and a
slower drop in home prices offset concerns about the swine flu outbreak and the
banking industry.

The U.S. Conference Board, an economic research
group, said its consumer confidence index rose to 39.2 in April, up from a
revised 26.9 in March. The reading marks the highest level since November and
surpasses the reading of 29.5 economists had expected.

Moreover, the Standard Poor's/Case-Shiller
index showed home prices in 20 major cities tumbled by 18.6 percent in February
from a year ago. It is the first time the index didn't set a record since
January 2007 and was slightly better than January's 19-percent decline.

Airlines stocks still got hammered on Tuesday on
fears that worried travelers would stay home, as the deadly swine flu virus is
rampant in Mexico.

Banking stocks were traded lower after the U.S.
government said Bank of America Corp. and Citigroup Inc. may need more capital.

The Dow Jones industrial average was down 8.05 points, or 0.10 percent, to 8,016.95. The Standard Poor's 500 index dropped 2.35points, or 0.27 percent, to 855.16. The Nasdaq composite index fell 5.60 points, or 0.33 percent, to 1,673.81.