Briefs	E-mail PagePrint Version

HONG KONG OFFICIALS BUST SOFTWARE PIRATES

HONG KONG - Customs officials in Hong Kong have busted an alleged software piracy syndicate and said they will try to freeze the counterfeiters' assets.

The Customs and Excise Department said it had broken up one of the largest fake disc operations in Hong Kong, and officials hope to freeze assets totaling $2.6 million under an organized crime law they have not yet used in the fight against piracy.

Authorities shut down a factory, three warehouses and eight outlets that sold fake computer and video game software during the raids. They arrested four men and four women ranging in age from 20 to 49, but none were immediately charged.

Counterfeit software is easily found in Hong Kong, along with fake luxury bags, DVDs, CDs and other goods, but officials have pledged to step up their anti-piracy campaigns.

US, OMAN SIGN TRADE AND INVESTMENT PACT

WASHINGTON, DC - US Trade Representative Robert Zoellick and Omani Minister of Commerce and Industry Maqbool Bin Ali Sultan have signed a Trade and Investment Framework Agreement (TIFA), providing a forum for The two countries to examine ways to expand bilateral trade and investment.

Oman is the final Gulf country to sign a TIFA with the US. 
 
The TIFA establishes a US-Oman Council on Trade and Investment in which high level officials from each country will meet to advance trade and investment issues.  The Council will be chaired by the Office of the U.S. Trade Representative and the Omani Ministry of Commerce and Industry. 

TIFAs, Zoellick said, have proven useful in supporting the economic reform efforts and negotiation of Free Trade Agreements (FTAs) with other countries in the region, such as Bahrain and Morocco. The U.S. has TIFAs with Algeria, Egypt, Kuwait, Qatar, Saudi Arabia, Tunisia, United Arab Emirates, and Yemen.
 
US goods exports to Oman in 2003 were $323 million, including machinery, aircraft, vehicles, and electrical machinery. Exports of agricultural products to Oman were $13 million, including sugars, sweeteners and beverage bases, and vegetable oils. 

Goods imports from Oman in 2003 were valued at $695 million, including mineral fuel, woven apparel, repaired products, precious stones, and knit apparel. Imports of agricultural products to Oman were $2 million.
 
REFORMS "VITAL" FOR POLAND'S FUTURE ECONOMIC GROWTH

PARIS, France - Economic growth in Poland is expected to reach 4.5% in 2004 and 2005, but further reforms are vital for long-term economic growth, according to a new report issued by the Organization for Economic Cooperation and Development (OECD).

While the Polish economy's output has been growing continuously for over a decade now, the high level of unemployment [19%] "is suggestive of serious remaining problems," said the report.
Poland, it said, "needs to raise productivity, expand employment and increase per capita income, which currently is 41 per cent of OECD levels. Inflation is projected to be 1.8 per cent in 2004 and 2.4 per cent in 2005."

As for the main challenges ahead, the OECD report said that Poland should re-establish an appropriate balance between fiscal and monetary policy; create a stable macroeconomic framework characterized by low inflation and sustainable public finances; increase employment; improve investment conditions; and speed up the pace of agricultural restructuring.

The report went on to say that "unless current policies change, the OECD estimates that even 50 years from now, Poland will not have achieved average OECD income levels."
 
However, if Poland adopted the reforms specified in the report, "convergence could be achieved as early as 2030."

Go back, or read the latest briefs:

TRADE

empty