US LIFTS TRAVEL ADVISORY
ON ST. PETERSBURGThe United States on Tuesday canceled an advisory issued last week warning Americans to be careful when visiting St. Petersburg, Russia.
Russian police beefed up security in St. Petersburg on Friday after Washington sent U.S. diplomats a "credible report" outlining possible attacks against Americans there.
At the time, Americans were urged to be cautious when traveling to or
from the airport and aboard tour buses.
In a brief statement Tuesday, the State Department said only that this warning had been canceled.
S. KOREA TO END TARIFFS
On Some Software
SEOUL, South Korea - Beginning in 1996, South Korea plans to scrap tariffs on imports of non-multimedia software, the Ministry of Finance and Economy said.
Imports of media, such as magnetic tapes, diskettes and CD-ROMs containing non-multimedia software, will be exempt from tariffs, which are currently 8 percent, a ministry official said. Blank media and media containing multimedia software will remain subject to the tariff, he said.
"The plan is in step with international practices of not levying tariffs on non-multimedia software trade," he said.
The state-funded Korea Software Industry Association said imports of computer software, including multimedia, were estimated at $48.5 million in the first half of this year, sharply up from $24.58 million a year earlier.
CHINESE CITY TO REVIEW
VETOED INVESTMENT BIDS
QUANZHOU, China - Officials in this city in Fujian province, in the southwestern part of the country, said they will recheck all vetoed foreign- funded projects to guarantee that the rejections are justified.
A department rejecting an application must submit all materials and grounds for the veto within five days to the city's governing body on foreign capital. That body will re-examine the case and make a final decision within five days.
Nearly 300 foreign-funded firms started operation in the city in the first half of this year, up 11.8 percent from the same period in 1994. They introduced $285 million of foreign capital.
TO RAISE OUTPUT ABROAD
SEOUL, South Korea - Daewoo Electronics Co. unveiled a $1.85 billion investment plan to boost overseas production and sales through the year 2000.
"Under the six-year globalization project, the company will increase offshore production from the current 19 percent of its total to 60 percent by the turn of the century," said Chung Je-Hyun, a company spokesman.
The aim is to increase access to overseas markets, he said, adding that sales by overseas plants should jump from this year's estimated $800 million to $6 billion by 2000.
To help it market aggressively abroad, Daewoo plans to set up regional headquarters in Mexico, France, Poland and Vietnam to coordinate production, marketing and research, he said.
The company has earmarked $510 million for investments in Poland and $170 million for Vietnam, with the remainder set aside for Indonesia, Philippines, Brazil and unspecified countries.
US AGENCY PUBLISHES
TRADE GUIDE ON INDIA
''Country Commercial Guide: India," an annual report from the U.S. government's International Trade Administration, was published recently for $40.50 as item PB95-247201 by National Technical Information Service of Springfield, Va. 22161.
Similar reports were issued during August for Argentina ($23.50, PB95-247011), Honduras ($31, PB95-247193), Israel ($31, PB95-247219), Bahamas ($21.50, PB95-247045), Bahrain ($23.50, PB95-247052), Belgium ($23.50, PB95-247078), Burma ($23.50, PB95-247086), and Cote d'Ivoire ($23.50, PB95-247128).
These country reports, variously 30 to 90 pages, discuss economic trends, note promising import markets and list local organizations that can supply information to U.S. exporters. The sales office can be reached at (800) 553-6847.
US LIFTS TRAVEL ADVISORY