Cuba, Venezuela set up stainless steel joint-venture

Havana (VNA) – Cuba and Venezuela have agreed to establish a 1.5 billion-USD joint venture to produce stainless steel, a move in the framework of the Bolivarian Alternative for the Americas (ALBA).

Under the agreement, inked recently by Venezuelan Minister of Basic Industry and Mining, Rodolfo Sanz, and President of Cuba’s steel producer ACINOX, Herbert Ballart, a stainless steel laminating factory will be built in Venezuela with a capacity of 500,000 tonnes per year.

Meanwhile, a ferro-nickel plant will be built in Cuba to supply materials.

This is a strategic project for both countries as demands for stainless steel are increasing in the world, Minister Rodolfo Sanz said. –

India, Iran to sign gas pipeline deal

Hanoi (VNA) – India and Iran expect to sign in August a deal on a 2,600-kilometre pipeline that will transport gas across India from Iran, Indian Oil Minister Murli Deora said.

The 7.5-billion-USD project to bring gas from Iranian fields to India and Pakistan had been discussed on the sidelines of the World Petroleum Congress industry event, which ended in Madrid on July 3, the Indian minister was quoted by news agencies as saying.

Talks on the Iran-Pakistan-India pipeline began in 1994 but were stalled by tensions between India and Pakistan and disagreements over prices and transit fees. Last month, India and Pakistan reported that they had resolved commercial differences holding up the deal.

India now has to import more than 70 percent of its energy needs. –

Eight Developing Countries promote trade cooperation

– The foreign ministers of the Group of Eight Developing Countries (D8) has sanctioned a 10-year roadmap for economic collaborations among member states during a meeting in Kuala Lumpur.

The two-phased roadmap envisaging an increase in intra-trade to 15 and 20 percent by 2018 from the current five percent, was endorsed at the 11th Session of the D8 Council of Ministers meeting on July 6, according to local media.

The roadmap also spells out trade facilitations, customs cooperation, capacity-building, migrant workers, small-and medium-scale enterprises and information and communications technology.

The roadmap will provide the framework for enhancing cooperation, the guide and formula to implement D8 programmes and projects, assist in mobilising resources from governmental and non-governmental sectors. It will also broaden support for the D8 community, the private sector and the grouping’s economic cooperation initiatives.

The ministerial meeting will be followed up by the sixth Summit of the D8 heads of states due to be held on July 7-8.

The D8 comprises eight developing Muslim nations, namely Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey, with an objective to improve the position of developing Muslim countries in the global world economy through diversification of their economies by creating new opportunities via enhanced trade relation.-

US statistics show trade increase with Vietnam

Washington (VNA) – The two-way trade between Vietnam and the United States rose 36.93 percent to 4.72 billion USD in the first four months of this year as compared with the same period in 2007, according to statistics from the US Department of Commerce.

In the reviewed period, Vietnam’s export was 3.637 billion USD, an increase of 21.92 percent, while the US’s export to Vietnam stood at 1.083 billion USD, a 133.41-percent rise.

Vietnam’s export staples to the US are textiles and apparel products, furniture, footwear, seafood and agricultural products. The country imports from the US transport vehicles, machineries, aircraft and aviation accessories, steels, plastics, meat and meat-related products, and livestock feeds.

The two-way trade between the two countries is expected to surpass 15 billion USD this year, as compared with 12.444 billion USD in 2007.-

RoK President replaces three cabinet minister

Seoul (VNA) - President Lee Myung-bak of the Republic of Korea (RoK) on July 7 replaced his ministers in charge of agriculture, welfare and education affairs in a partial cabinet reshuffle, according to local media.

The reshuffle came nearly one month after Prime Minister Han Seung-soo and the entire cabinet offered June 10 to resign to take responsibility for the political turmoil triggered by the US beef import policy, Yonhap news agency reported.

The president minimised the scope of the reshuffle, retaining his prime minister as well as almost all of his economic ministers, including Finance Minister Kang Man-soo. Foreign Minister Yu Myung-hwan was also retained.

Ahn Byong-man, a presidential advisor for state future planning, was named to succeed Kim Do-yeon as minister of education, science and technology.

Jang Tae-pyoung, a former secretary general of a state anti-corruption panel, was designated as minister of food, agriculture, forestry and fisheries in replacement of the outgoing minister Chung Woon-chan.

Jeon Jae-hee, a female lawmaker of the ruling Grand National Party (GNP), was nominated to succeed Kim Soung-yee as minister of health, welfare and family affairs.

President Lee also designated Supreme Court justice Kim Hwang-sik as new chief of the Board of Audit and Inspection (BAI).

The new Cabinet appointees and the BAI chief-designate will formally take office after undergoing parliamentary confirmation hearings, Yonhap said.-

China Eastern Airlines to set up Taiwan office

– The Shanghai-based China Eastern Airlines has become the first mainland aviation company approved to set up an office in Taipei, handling cross-Strait charter flights services, Xinhua reported.

The Chinese news agency cited China Eastern Airlines General Manager Cao Jianxiong, as saying that a five-people “preparatory office” will be established at the first step.

The chief of the “preparatory office,” an airport liaison officer and an officer in charge of aircraft maintenance are already in place, he said.

Taiwan’s China Airlines and Eva Air will act as sales agents for China Eastern Airlines at the moment, he added.

Under an agreement signed last month, 36 return flights will operate every weekend, Friday to Monday, divided evenly between China mainland and Taiwan airlines. –

Indonesia to host anti-money laundering meeting

Hanoi (VNA) – Indonesia will host the 11th Annual Meeting and 7th Annual Technical Assistance and Training Forum of the Asia Pacific Group on Money Laundering (APG) from July 7-11, news reports said.

The meeting will draw at least 260 senior officials in charge of financial affairs from the Asia Pacific region, news reports cited a release, which was issued by the event’s organising committee, as saying on July 6.

The meeting will be highlighted with a high level discussion forum and an effort to intensify cooperation in fighting and preventing money laundering practices and terrorist activity’s funding, news reports added. –

Cambodia plans to build hydropower plant on Mekong river

– The Cambodian government plans to build its largest hydropower plant on the Mekong river in the country’s northeastern province of Kratie, local media reported.

The Sambo Chumrues plant, with a designed capacity of 2,600-MW, is also ranked as one of the largest of its kind in the southeast Asian region, Secretary of State to the Ministry of Industry, Mines and Energy Ith Prang was quoted by the “Khmer Sthapana” newspaper as saying.

According to “The Mirror” newspaper, Cambodia is pinning high hope on selling electricity to some neighboring countries as well in the Greater Mekong Sub-Region, if the plan leads to positive results.

The newspaper also quoted Secreatary of State Ith Prang as saying that the plan might help attract investors and help poor citizens have access to electricity at a cheap price.-

Australian Red Cross to end mission in Indonesia’s Aceh

Jakarta (VNA) – The Australian Red Cross will end its humanitarian mission of assisting post-tsunami rehabilitation and reconstruction programmes in Indonesia’s worst tsunami-devastated area, Aceh, by 2010, local media reported.

“Our commitment to assist Aceh in the aftermath of the tsunami disaster through the rehabilitation and reconstruction programmes will end in 2010,” Hasiando PL Tobing, a field officer of the Australian Red Cross, was quoted by Indonesia’s Antara news agency as saying.

An on-going programme jointly carried out by the Australian Red Cross and the Indonesian Red Cross was blood donor campaigns, that encouraged local resident to donate their blood regularly for the need of their families and others, he said.

Among the programmes which have been conducted by the Australian Red Cross were constructions of houses for tsunami victims, economic empowerment and health improvement programmes for local residents, and training courses on search and rescue efforts and fire fighting.

Australia, in cooperation with the Indonesian Red Cross, the Norwegian Red Cross, and some local organisations, also conducted disaster mitigation trainings in Aceh, Antara said.-

OXFAM Australia helps treat Lao HIV/AIDS patients

Vientiane (VNA) – The Oxfam Australia has granted over 48 million Lao kip (roughly 5,700 USD) to help a hospital in Laos treat HIV/AIDS patients.

Fifty four HIV/AIDS patients, mostly women, children and the blind who are being treated at the Setthathirath Hospital, are beneficiaries of the assistance.

An agreement underscoring the Oxfam Australia’s decision was signed in early this month by Deputy Director of Setthathirath Hospital Khampe Phongsavath, and Representative of the Oxfam Australia to Laos Khamluang Keoka.-