U.S. toy importers clamor for safety checks

As if taking the cudgels from the federal government, American toy making companies requested the former to issue an order requiring toy importers to undergo intensive safety checks on every toy that they sell in the country. The said move was a clear result of the issue concerning the recalls of toys made in China, which were found to be contaminated and thus, unsafe to use. The discovery has greatly affected toy importers operating in the U.S.

The said proposal came from the Toy Industry Association following a discussion held last week. The plan, however, was not designed to egg the federal government to perform a large-scale check among the merchandise of U.S. toy importers.

According to the proposal, independent laboratories will be commissioned to perform the safety checks on the toys of the American toy companies and importers. Bigwigs, however, admitted that such measure has been implementor to be not enough to effectively ensure product safety.

The unprecedented move could't be made on a more proper timing, since the fast approaching holiday season will most probably flood the market with toys and other goods. The toy importers, together with retailers, are racing against time to make sure that their toys and goods that are out in the market do not contain traces of lead as well as other safety issues.

The toy importers and retailers were particularly concerned over the safety of their products since the doubts of the buying public has been growing following the controversial recall of Mattel, Inc. of toys from China that are found to contain lead paints considered as health hazards. As such, they are requesting that everyone in the business observe strict safety checks.

Frederick Locker, a Toy Industry Association lawyer, said that the lead-in-paint issue has hurt the industry so much. He countered, though, that the setback will benefit the industry such that it will learn to observe more stringent measures to make sure that the industry will be bolstered and enhanced. The association includes, among others, Mattel, Hasbro, Lego, and several hundreds of toy manufacturers and importers.

The Consumer Product Safety Commission (CPS), the agency that will be the main implementor of the program, is yet to issue its stand regarding the proposal. However, the main concern on the part of the commission is its resources, particularly its manpower. The CPSC's number of working staff suffered more than 10 percent cut during the Bush presidency. In this regard, it will be very hard for the agency to effectively check all the products of the American toy importers and manufacturers. Donald Mays, product safety planning senior director of Consumer Reports, stressed the need for the federal government to impose frequent product safety checks to make sure that the proposal will produce satisfactory results that will hopefully ease the burden being suffered by U.S. toy importers and manufacturers.

Countries strengthen global trade ties

City of Bishkek-- Kyrgyz President Kurmanbek Bakiev recently had a one-on-one talk with Chinese President Hu Jintao in this city. The meeting focused on establishing better global trade ties between the two countries. Bakiev told reporters that he and Hu agreed on all views and positions. The meeting was held prior to the Shanghai Cooperation Organization (SCO) summit held on August 16, where representatives from SCO member countries tackled global trade, regional security, and human rights issues.

The SCO summit featured a deliberation of key issues like solutions to illegal drugs, proper confinement of animals, global trade, environmental protection, and education. After the summit, the six SCO world leaders flew to Russia the next day and monitored the on-going SCO anti-terrorism military exercises. The SCO leaders will next visit Kazakhstan to hold another round of talks.

Meanwhile, Russia finally relieved Afghanistan of its bilateral debt amounting to $10 billion, saying that it was part of the country's bid to stabilize global trade. The announcement was made during a ceremony held in Moscow on Monday, August 6.

The agreement was the result of last year's thorough deliberation among Paris Club members. This aimed at strengthening the global trade ties of the two countries by helping Afghanistan recover from its failing economy.

Russian Minister of Finance Alexei Kudrin said that the event was historical for both countries since it can strengthen their global trade partnership. In response, Afghan Finance Minister Anwar-ul Haq Ahadi said that they are open to further economic tie-ups with Russia. Seen as potential allies to the country's economic growth, Russian investors are all welcome to do global trade in the Afghanistan market.

Malaysian Mission Promotes International Trade in Asia

Malaysia gears up towards a stronger and unified economic partnership and mutual international trade with Asian countries. The country has made an essential step by sending a delegation to the countries in the said region through the leadership of Malaysian International Trade and Industry Minister Datuk Seri Rafidah Aziz. On July 15-24, Minister Radifah leads the mission to South Korea, Hongkong, and Japan to promote commerce and trade.

In a message, the Ministry of International Trade and Industry (MITI) has conveyed its plan to keep the international community, specifically the business sectors, informed about the present economic status of Malaysia. The plan dwells on an information campaign about the Malaysian investments and trade privileges. Furthermore, the mission aims to promote and offer Malaysian services and goods to the Asian market. It is also the delegation's goal to build cooperative efforts and mutual business enterprises with the Asian industries. Besides that, the Malaysian government wants to strengthen the link of Malaysian businesses with its counterparts in the other countries, particularly Korea, Hongkong, and Japan. These nations are few of Malaysia's largest trading and economic partners.

In the previous year, Korea ranked number six in the list of Malaysia's biggest international trade associates. The total amount of trade has reached RM47.2 billion, a huge increase compared to 2005 figure, which was RM39.5 billion. This 2006 figure consisted of the values of exported and imported products; the cost of goods exported has amounted to RM21.3 billion, and the products imported has reached RM25.9 billion.

In terms of export target market, it was Hongkong that served as the sixth biggest partner of Malaysia in the year 2006. According to MITI, the value of export products has reached RM29.1 billion and the import commodities have amounted to RM12.7 billion. The international trade has gained a total of RM41.8 billion for its economic growth.

With a sum trade of RM115.7 billion, which includes RM52.2 billion exported products and RM63.5 billion imported goods, Japan also plays a significant role in Malaysia's economy. With the recorded figures, Japan is the third biggest international trade associate of Malaysia.

To fulfill its economic and international trade goals, the Malaysian delegate, who is visiting the Asian countries, has prepared an agenda which basically includes the promotion of Malaysian tourism, technologies, vehicles, products and raw materials, and businesses and investments. The team anticipates that their international trade mission will not only benefit its country's economy but the whole economic region as well.

Bush Allies In Congress Call For the Renewal of International Trade Authority

Republican legislators in the House of Representatives will aim to convince their colleagues to approve the renewal of the Bush administration's fast track authority in order to negotiate international trade deals. Under this power, the president can barter trade deals without the need for congressional amendments. In the absence of such authority, international trade agreements are at the mercy of lawmakers.

Democratic leaders in the Congress have blamed international trade deals for the loss of job opportunities in the United States. With the failure of the Doha Round last week, the chances of another trade deal being forged will be improbable. However, Rep. Jim McCrery of Louisiana, who supports the renewal of the fast track authority, believes that trading will benefit American businesses and will help reduce trade deficit.

Since Congress granted fast track authority in 2002, the United States has entered into several international trade deals with Australia, Singapore, Chile, Morocco, the Dominican Republic, Bahrain, Oman as well as several Central American states. The most recent renewal of international trade authority took eight years before it was granted. Rep. McCrery is hoping that his colleagues will not allow a repeat of the same situation.

G4 Countries Attempt to Revive Global Trade Talks

Members of the Group of 4 (G4) held global trade talks in Potsdam, Germany in an attempt to make one final push to revive the Doha Round of Talks. US Trade Representative Susan Schwab was joined by trade officials from the European Union (EU), Brazil, and India. Pascal Lamy, head of the World Trade Organization (WTO), reiterated his call for a global trade agreement, otherwise the Doha Round will be stalled again for several years.

World leaders doubted that the G4 meeting will produce a favorable global trade deal, but they pointed out that any development will be welcome news to developing countries. Many concerned parties believed that the Doha Round was not successful in meeting its target of alleviating poverty among developing nations. Prior to the event, the G20 countries, led by Brazil and India, held a separate meeting last June 11 in Geneva, Switzerland. The aim of the meeting was to get a consensus among the members of the group on whether or not they were in favor of an agreement.

As expected, the meeting ended with representatives of the four countries pointing fingers at each other for the failure of the talks. Brazil and India lashed at the US and the EU, saying there was a need for both countries to change their attitudes in order for future deals to succeed. On the other hand, the United States and the European Union countered by saying that Brazil and India were not open to the influx of Western products to their respective local markets.

Since its inception in 2001, the Doha Round of Talks failed to produce a major development as some members could not settle their differences. Succeeding global trade talks in December 2005 produced a similar outcome. Now, with the United States set to lose its power to negotiate global trade deals on July 1, things are not looking good for the Doha Development Agenda.

India And Brazil Strengthen Global Trade Ties

Brazil and India held bilateral talks recently with the aim of strengthening global trade relations between them. The two countries are targeting a trading increase of $10 billion by 2010 from the current standing of $2.4 billion. Aside from global trade issues, the meeting likewise focuses on other pertinent matters like investment, defense, energy, science, to name a few. With the meeting represented by Prime Minister Manmohan Singh of India and President Luiz Inacio Lula da Silva of Brazil, both parties realized the strong need to strengthen economic cooperation between them.

On one occasion of the meeting, which is dubbed as India-Brazil Strategic Dialogue, both parties denied claims of the US that progressing countries have an active role in climate change, saying it was the result of unsustained development and elimination processes in the progressive nations. In addition, Brazil expressed its adoption of the global trade agenda of the Doha Round of Talks, which is strongly advocated by India. Likewise, the Brazilian President said that progressive nations cannot take developing countries out of the picture on the issue of the Doha Round of Talks, particularly if India and Brazil hold on to their hard-line stance.

Lula believes that progressing nations have a vital role in the economic system of the world. He contends that powerful nations should learn how to cooperate and negotiate with emerging economies. Lula also added that both wealthy and developing countries can learn from each other. As a result of globalization efforts, the focus of global trade is no longer solely on the United States and European Union.

The global trade partnership of India and Brazil began in September of 2006 when the Indian Prime Minister visited Brazil. Today, trading between the two nations is still on the development stage. Although both parties previously failed to reach their desired quota, they are still optimistic that they will reach their established target. In line with this, Brazil is set to transfer its agricultural, food processing, mining, industrial, and nuclear energy expertise to India.

On the other hand, the South American country is expected to benefit from India's solar energy, wind power, and medicine production technology. Furthermore, formal discussions concerning a three-way global trade, which involve the South African Customs Union, Mercosur(Argentina, Paraguay, Venezuela, and Brazil), and India, are already in the works. The series of discussions can boost economic relations between the involved countries.

Meanwhile, the Group of 20 (G-20) is set to meet on June 11 in Geneva to discuss global trade in relation with the Doha Round. The meeting aims to remove global trade farm subsidies issued by developed countries such as the United States.

EU and Asia on International Trade Deals

The European Union (EU) will hold a two-day international trade meeting with Asian countries to discuss measures in strengthening the relationship between the two regions. The international trade discussion will be held in Hamburg, Germany prior to a Group of Eight Assembly. The event will focus on the proposal of the European Union with regards to the adoption of energy-saving technologies to reduce carbon dioxide emissions in compliance with the Kyoto Protocol that is expiring in 2012. The Assembly hopes to draft a new set of guidelines after the termination of the Kyoto Protocol.

Aside from that, the meeting will begin with international trade bilateral talks between China and the European Union. Part of its agenda will be human rights and international trade issues. The EU hopes to convince China and other Asian countries to abolish the death penalty. Moreover, the gathering will tackle issues like climate conditions and energy. The annual gathering of nations began in the year 1996. It later became an international body of countries known as Asia-Europe Meeting (ASEM). Its total membership accounts for 60 percent of international trade.