31 AUGUST 2022View in Browser
 
 
 

This week's primary foreign investment news
from our ASEAN, China, India, Russia, Belt & Road and Vietnam Briefings.
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HEADLINES: This week we have a distinct Middle eastern flavor as we look at recent moves to better unite trade and investment between the Middle East and South-East Asia. This includes overviews of the relations of both China and India with the Gulf Cooperation Council, and new trade agreements reached by China, India, and Indonesia with the United Arab Emirates and between Hong Kong and the Middle East in general. ASEAN’s Indonesia is the world’s largest halal consumer market, we look at the required certification procedures. Finally, we have our usual Belt and Road Investment round up.

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CHINA
China and the Gulf Cooperation Council: Bilateral Trade and Economic Engagement
Over the past 20 years, China has become increasingly engaged with the six Gulf Cooperation Council (GCC) members – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE). While Beijing’s interest in the region may have been initially driven by energy needs, the relationship is now diversifying.
 
China-United Arab Emirates (UAE): Bilateral Trade and Future Outlook
China is among the UAE’s top commercial partners over the last five years, with rapid growth recorded in bilateral investments and trade. The world’s largest container operator, China’s COSCO Shipping Limited, has chosen Khalifa Port as the base of its Middle East operations.
 
Hong Kong’s Tax, Investment, and Trade Agreements with Countries in the Middle East
Hong Kong has signed several double tax avoidance and bilateral investment treaties with countries in the Middle East, helping to facilitate trade and investment and boost cooperation between the two regions. We provide an overview of the current HK investment treaties in place with countries in the Middle East and discuss how they help protect investments and facilitate business exchange.
 
INDIA
India’s Trade and Investment Ties with the Gulf Cooperation Council
India’s trade and investment relationship with the Gulf Cooperation Council (GCC) member states – UAE, Saudi Arabia, Kuwait, Qatar, Oman and Bahrain – has strong foundations, driven by India’s historical linkages with the region, India’s dependence on Gulf energy exports, and the Gulf dependence on India for food security and agricultural exports.
 
How Businesses Can Gain from the India-UAE CEPA
India’s CEPA trade agreement with the United Arab Emirates came into effect May 1, 2022, and aims to grow two-way annual trade to US$100 billion – up from US$60 billion – in the next five years. The UAE offers investors more than 40 multidisciplinary free zones, in which expatriates and foreign investors can have full ownership of companies and enjoy 100 percent repatriation of capital and profits, 100 percent exemption from corporate and income taxes, and 100 percent exemption from customs duty.
 
ASEAN
Indonesia and the United Arab Emirates Conclude Trade Pact
Indonesia and the United Arab Emirates (UAE) concluded a new free trade agreement in July 2022, under the UAE-Indonesia Comprehensive Economic Partnership Agreement (IUAE-CEPA). The free trade agreement aims to increase bilateral trade to US$10 billion by 2030.
 
Obtaining Halal Certification in Indonesia
Indonesia is the world’s largest Halal market, particularly for the food, tourism, cosmetic, and pharmaceutical sectors. Indonesian consumers spend over US$200 billion of this total on Halal products and services.
 
BELT & ROAD INITIATIVE
Belt and Road Weekly Investor Intelligence #96
All the latest foreign investment news concerning China’s Belt and Road Initiative.
 
 
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