The Ministry of Foreign Trade and Economic Co-operation announced that import licence requirements had been cancelled for 14 of the 26 products for which they were needed last year, International Business Daily said. The cancellation was effective from the start of 2002.
The products that no longer need licences include chemical products, cigarettes, colour televisions, video recorders, refrigerators and photographic materials. Products for which licences are still required include vehicles and vehicle components, rubber, refined oil, cameras and watches.
Jiang Zemin visits Vietnam President Jiang Zemin made a three-day ‘goodwill’ visit to Vietnam that started on February 28. The visit, Jiang’s first to the country since 1994, included talks with Vietnamese president Tran Duc Luong and Communist Party secretary-general Nong Duc Manh. Both sides pledged to boost political and economic ties and to resolve maritime disputes peacefully.
Vietnam and China have competing claims over the Paracel islands and the Spratly archipelago in the South China Sea. The two sides also expressed a determination to complete land border demarcation begun under a 1999 agreement and to quickly reach an agreement on fisheries.
Hainan Air to set up Cambodian airline Hainan Airlines has signed an agreement with the Cambodian government to set up a new flag carrier airline, Air Cambodia, Reuters reported. Hainan Airlines will invest US$4.9m in cash for a 49 per cent stake in the venture, with the Cambodian government contributing US$4.1m in property and market rights for 41 per cent. The Cambodian company CGT will invest intangible assets worth US$1m for 10 per cent.
The airline will have exclusive rights to all international flights into and out of Cambodia. It will replace Royal Air Cambodge, which suspended all flights in October last year. Details of the arrangements had not yet been worked out and the deal still required the approval of the Cambodian and Chinese authorities. However, industry sources quoted by Reuters said that Air Cambodia would lease two Boeing 737-400s plus crews from Hainan Air to begin operations.