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China to Keep Currency Basically Stable, Normalize Monetary Policy
November 4, 2010 by Barbara Chaves|International Sources

China's GOV.cn reports that China's central bank will gradually normalize the monetary policy from its counter-crisis mode and tighten control over liquidity to maintain moderate credit growth in the coming months of this year. The central bank also said it would keep the RMB or yuan exchange rate basically stable.

U.S. and Russia to Join East Asia Summit Next Year
November 3, 2010 by Kelly Sly|International Sources

The Association of Southeast Asian Nations announced that at the recent East Asian Summit (EAS), leaders extended formal invitations to the Russian Federation and the U.S. to join next year's EAS, which will expand participation from 16 to 18 countries in this ASEAN summit generally held after annual ASEAN leaders' meetings.

WCO Promotes Partnership with Customs Brokers in Latin America
November 2, 2010 by Kelly Sly|International Sources

The World Customs Organization reports that in WCO Secretary General Mikuriya's keynote address at the 41st annual meeting of ASAPRA (Association of Professional Customs Agents in America), he promoted the importance of Customs brokers joining forces with Customs administrations in advancing Customs modernization and in remaining visionary, relevant and indispensable to global trade. ASAPRA President Alejandro Ramos urged Customs brokers in Latin America to embrace trade facilitation enshrined in the WCO Revised Kyoto Convention and the new AEO and Single Window initiatives promoted by the WCO SAFE Framework of Standards which are in line with reform initiatives undertaken by regional Customs administrations.

India Publishes Sept 2010 Trade Data
November 2, 2010 by Kelly Sly|International Sources

India's Department of Commerce has posted its foreign trade data for September 2010. Among other things, the report states that India’s exports during September 2010 were 23.2% higher in dollar terms (17.2% higher in Rupee terms) than the level of the U.S. during September 2009.

WCO, Andean Community Revitalize MOU on Customs Procedures
November 2, 2010 by Kelly Sly|International Sources

The World Customs Organization reports that WCO Secretary General Mikuriya visited the headquarters of the Andean Community in Lima, Peru on October 26, 2010 to revitalize the Memorandum of Understanding on cooperation signed in 2005 between the two organizations. During the review, they identified risk management, the use of non-intrusive inspection technology and the establishment of Authorized Economic Operators (AEOs) and the single window as major priorities.