DAP: The breaking news in Cambodia: “Cambodia to host 44th ASEAN Economic Ministers Meeting this month” plus 2 more

DAP: The breaking news in Cambodia: “Cambodia to host 44th ASEAN Economic Ministers Meeting this month” plus 2 more


Cambodia to host 44th ASEAN Economic Ministers Meeting this month

Posted: 04 Aug 2012 09:15 PM PDT

PHNOM PENH, Aug. 4 (Xinhua) -- The 44th ASEAN Economic Ministers Meeting and related meetings will be held in Siem Reap, the cultural province of Cambodia from Aug. 25 to Sept. 1, according to a press release from Cambodia's Ministry of Commerce on Saturday.

Cambodian Prime Minister Hun Sen will open the 44th meeting on Aug. 27, said the press release.

The meeting will discuss topics relevant to trade liberalization and economic cooperation among the 10 ASEAN member states and with dialogue countries including China, South Korea, Japan, Australia, New Zealand, India, the United States, Canada and Russia.

The ASEAN economic ministers will also have joint meetings with the 26th ASEAN Free Trade Area (AFTA) Council and the 15th ASEAN Investment Area (AIA) Council, it said.

There will also be a consultation meeting between ASEAN economic ministers and head of the World Intellectual Property Organization, it said.

Besides, there will be the ASEAN-U.S. Business Summit and Cambodia's Garment and Textile Expo.

The Association of Southeast Asian Nations (ASEAN) groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Myanmar embarks on monetary reform

Posted: 04 Aug 2012 09:14 PM PDT

YANGON, Aug. 4 (Xinhua) -- Myanmar has made a master plan for the monetary reform which is to be implemented with the assistance of the World Bank.

The World Bank (WB) opened its first country office in Yangon Wednesday, announcing preparation to grant 85 million U.S. dollars to support Myanmar's reform.

The office is also involving International Monetary Corporation (IMC) and the Asian Development Bank (ADB).

Under the master plan, Myanmar is to enact Foreign Exchange Management Law soon, Minister of Finance and Revenue U Hla Tun disclosed on Thursday, saying that the government will allow local private banks to set up joint ventures with foreign counterparts that have opened offices in Myanmar.

Foreign banks from Singapore, Bangladesh, China, France, Japan, Malaysia, Netherlands, Thailand, Cambodia, Brunei, Vietnam, South Korea, the United States and Britain have opened 20 representative offices in the country.

The minister added that committees have also been formed to deliberate securities dealing bill for the development of capital market.

He expected stock exchange to be launched in 2015 under the capital market development roadmap.

Efforts are also being made for the accomplishment of ASEAN Economic Community (AEC) by 2015, he added.

Meanwhile, Japan said it will provide technical aid to Myanmar for the development of capital market.

A memorandum of understanding on the technical aid was signed between the Central Bank of Myanmar and the Daiwa Research Institute and Tokyo Stock Exchange in May.

Starting in July, 11 authorized private banks in Myanmar admitted opening of foreign currency accounts in U.S dollar, Euro and Singapore dollar as well as FEC (foreign exchange certificate).

However, such services are limited to government departments, state-owned economic enterprises (SEE), joint ventures with the SEE, foreign embassies and diplomats.

Previously, only two state banks -- Myanma Foreign Trade Bank ( MFTB) and Myanma Investment and Commercial Bank (MICB) -- were allowed to provide such services.

Aimed at stabilizing the exchange rate and ensure emergence of foreign exchange market in the country, the Central Bank of Myanmar granted the 11 Myanmar private banks to trade the three foreign hard currencies.

These banks have set up exchange counters at banks, airports, hotels, shopping centers and major tourists destinations for the convenience of tourists.

Moreover, starting on Feb. 1, Myanmar government has eased foreign exchange control allowing exchange of up to 10,000 U.S. dollars with Myanmar kyats without any documentation.

The fresh regulations apply to both Myanmar citizens and foreigners in order to get rid of black foreign exchange market.

Beginning in April, Myanmar changed the fixed foreign exchange rate regime to a managed floating exchange rate and the U.S. dollar is quoted at 880 Kyats currently, up from 818 Kyats when it was first applied.

Indochinese tigers remain elusive in SW China

Posted: 04 Aug 2012 09:12 PM PDT

KUNMING, Aug. 3 (Xinhua) -- Professor Shi Kun, along with a group of Chinese researchers, has spent months trekking in remote forests in southwest China, searching for clues that might lead them to the rare Indochinese tiger.

The 60-strong team has been conducting a comprehensive survey on the endangered species since March, said Shi, director of the wildlife research institute at Beijing Forestry University.

The program, which focuses on the species' population, food sources and ecological environment, is expected to be finished by the end of this year, Shi said.

The surveyed areas include several nature reserves in Yunnan province, where traces of the tiger have previously discovered, he said.

The researchers have used a variety of techniques to search for the animals, including setting up infrared cameras in the woods to take pictures of the beasts and asking local residents about possible signs of the animals.

"So far, we've obtained pictures of the tiger's prey, such as wild boar, oxen and deer, but we haven't seen any tigers yet," Shi said.

Shi said he expects substantial progress, as 100 infrared cameras will be placed in the reserves to help track the animals after the wet season ends in October.

The survey has focused on the Xishuangbanna and Nangunhe nature reserves, which cover a collective total of 60,000 hectares on the Sino-Myanmar border, he said.

In the mid-1990s, wild Indochinese tigers roamed in Thailand, Cambodia, Laos, Myanmar, Vietnam and China's southwest. They are believed to have numbered from 1,050 to 1,750 at that time.

However, the World Wildlife Fund (WWF) estimated that the species has shrunk to 300 cats today. The group said restricted access to border regions has made it difficult to ascertain the exact number of Indochinese tigers there.

The WWF attributed the decline of the species' population to fragmented habitats as a result of rapid development and the hunting of both the tigers and their prey.

Heavy deforestation has destroyed the tropical and subtropical woodlands that the tiger previously inhabited, said Shi.

"The cats are really picky about where they live," he added.

In China, Indochinese tigers have retreated to a handful of nature reserves in Yunnan. Shi said there are believed to be just 11 to 16 of the tigers left in Yunnan, although he admitted that the figure is not backed by sufficient evidence.

"But we're convinced that they do exist in Yunnan," he said.

In May 2007, researchers at Beijing Normal University managed to clearly photograph a live Indochinese tiger in the Xishuangbanna nature reserve, proving that the species still exists within China.

Another Indochinese tiger was discovered in February 2009, when two farmers in Xishuangbanna killed and served the tiger as food to local villagers. The poachers and villagers received jail terms.

The incident aroused speculation that China's last Indochinese tiger had been killed.

However, two years later, researchers found footprints and scratch marks believed to have been left by the cats in Xishuangbannan. Some local residents also claimed to have seen the animals.

The new findings, along with the local government's efforts to ban poaching, have rekindled the hope that the Indochinese tiger still roams in China, Shi said.

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