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Dec 13, 2011

Legal and Business News from Asia (12/12/2011)

This is the first of a series of bimonthly updates by IPG Legal.  The updates will, normally, be post on the 2nd and 3rd Tuesday of the month.

India: Opposition parties, regrettably, in India, won a battle as, in the end, the plan to open the retail sector to foreign companies will be suspended. This quick backtracking weakens, even more, the Government and leaves foreign investor leery of the state of local Indian politics and increased fear of foreign capital. “India suspends plan to let in foreign retail companies,” The China Post.

Singapore: According to the PricewaterhouseCoopers Survey, if you want to invest in real estate in Asia, Singapore is the best place to do so. Shanghai comes second. “Singapore remains top market in Asia for property investments: PwC survey.”   IPG doesn't agree.  Straits Times.

East Asia: The third economic bloc, after the USA and the European Union, is on its way. This Friday, China, Japan and Korea will discuss a possible three-way free trade agreement.
“Korea, China, Japan set to conclude study on three-way FTA,” The Korea Herald.

China: To celebrate the tenth anniversary of the entry of China in the World Trade Organization (WTO), Pascal Lamy, its Director General, made some very interesting comments in an article. Mr Lamy explains, in detail, the role China’s accession to the WTO played in its impressive economic growth, the benefits that China’s trade partners received from its WTO membership and the role of China as a key member of the WTO. “China's accession to WTO worth celebrating,” Asia News Network.

Vietnam: The trade agreement between Vietnam and US is quite successful, according to the Viet Nam News, as it boosted the relations between the two countries. According to the Vietnam Prime Minister, the Vietnamese Government will improve its investment environment to attract more foreign investors. “Trade agreement enhances Viet Nam-US relations: PM.” The Viet Nam News.