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China Bank Official Speaks on Exchange Rate Reform
July 30, 2010 by Marie Rapport|International Sources

In a July 26, 2010 speech, Deputy Governor Hu Xiaolian of the People's Bank of China praised China's actions toward having a more flexible exchange regime, noting numerous benefits to China's domestic economy and monetary policy. However, she said that China cannot afford to lose monetary policy independence and subject itself to the economic policies of other countries.

WCO and Indonesia Meet on Customs Reform, Revised Kyoto Convention
July 30, 2010 by Marie Rapport|International Sources

The World Customs Organization's Secretary General Mikuriya visited Jakarta on July 26 and 27, 2010 where he met with Minister of Finance Agus to discuss ways to consolidate the Customs reform that Indonesia had undertaken in recent years. The Minister supported the idea of Indonesian accession to the WCO Revised Kyoto Convention. He also explored ways for better coordinated border management. Since Indonesia's national single window is well underway, both leaders noted this could provide another tool for cooperation with other government agencies.

ECHA's REACH-IT System Will Close Aug 4-6, 2010
July 28, 2010 by Barbara Chaves|International Sources

The European Chemicals Agency will install an upgraded version of REACH-IT from August 4-6, 2010. During this time, it will not be possible to submit dossiers or use REACH-IT. REACH-IT will reopen on August 6 at 12:00 CET, permitting companies to submit dossiers before the weekend closure.

Canadian Foreign Minister Comments on Canada's New Iran Sanctions
July 28, 2010 by Marie Rapport|International Sources

The Minister of Foreign Affairs commented on July 26, 2010 on Canada’s new sanctions against Iran. “For almost 20 years, Iran has concealed its nuclear program and has violated its international obligations on non-proliferation. On July 11, 2010, Iran announced that it had produced 20 kilograms of uranium enriched to nearly 20 percent, in flagrant violation of previously imposed resolutions. These actions bring Iran closer to building nuclear weapons that threaten us all. Under the Special Economic Measures Act, Canada is imposing further sanctions. The new measures prohibit dealings with designated persons involved in nuclear, chemical, biological and missile proliferation. They ban the export of proliferation-sensitive goods, items for refining oil and gas, all remaining arms, and technology related to these goods. They prohibit any new investment in Iran’s oil and gas sector. These measures also bar Iranian financial institutions from establishing a presence in Canada, and vice versa, while banning correspondent banking relationships with Iranian financial institutions and the purchase of Iranian government debt. The sanctions are effective immediately."