TRADE BRIEFS

TRADE BRIEFS

CANADA WANTS EU

TO NEGOTIATE DISPUTE

OTTAWA - Canada would like to negotiate a settlement with the European Union in their wheat dispute, rather than wait for a World Trade Organization arbitrated one, a spokesman for Trade Minister Roy MacLaren said Friday.

The WTO has accepted a second request by Canada for a WTO dispute panel to review EU grain tariffs. Canada says the EU is violating WTO commitments on tariff ceilings for wheat and on customs valuation.

''Obviously we would like to see a negotiated settlement with the EU," Bruno Picard told Knight-Ridder Financial News. "We don't want the issue to drag on for years" in a dispute panel, he said.

The investigative panel - whose members and terms of reference have yet to be decided - will likely make a ruling sometime in the spring of 1996.

Mr. Picard said that should an amicable solution not be found, Canada will pursue the matter through the panel mechanism.

S. KOREA MAY DELAY

ENTRY INTO OECD

SEOUL, South Korea - South Korea may delay its long-expected entry into the Organization for Economic Cooperation and Development, the English- language Korea Times newspaper reported last week.

Minister of Finance and Economy Hong Jae Hyong, currently on a visit to the United States, reportedly said, "The South Korean government has announced its plan to enter the OECD in 1996, but not at any price."

The minister's statements are the first public indication that this nation might delay OECD membership in order to avoid a rapid opening of its markets.

VIETNAM POSTS DEFICIT

IN TRADE OF $670 MILLION

HANOI, Vietnam - Vietnam's official trade balance showed a deficit of $670 million in the first nine months of the year, a Vietnamese newspaper reported Thursday.

The Saigon Times Daily cited Trade Ministry statistics as showing that

Vietnam's export sales through September reached $3.7 billion, while spending on imports exceeded $4.3 billion.

While the figures appear to indicate a narrowing of the country's trade deficit for the year, there still appears scope for it to exceed last year's $1.4 billion deficit.

The trade deficit for the first nine months of last year stood at $430 million, according to official reports at the time.

Vietnam's trade imbalance has improved considerably since it began implementing economic reforms in 1988-1989, prior to which exports covered only between a third and a half of imports.

JAPAN'S KEIDANREN SEEKS

INDUSTRIAL TIES WITH EU

TOKYO - An influential Japanese business group plans to send a delegation to Europe late next month in an effort to strengthen industrial cooperation between Japan and the European Union, a group official said Thursday.

The Federation of Economic Organizations (Keidanren) mission - the first to visit Europe in nearly four years - will be led by Shoichiro Toyoda, chairman. The members will visit Belgium, the Netherlands, Germany, Britain and Denmark, the official said.

During their 10-day stay in Europe, the Japanese business executives will hold meetings with German Chancellor Helmut Kohl, British Prime Minister John Major and European Commission President Jacques Santer, the official said.

SHANGHAI APPROVES 183

FOREIGN-FUNDED PROJECTS

SHANGHAI, China - Municipal officials said they approved 183 foreign- funded enterprises involving $890 million in September. The number was 37.5 percent down on a year earlier, but the amount of investment was up 28 percent.

Shanghai has approved 2,252 foreign-funded enterprises so far this year, 25 percent fewer than in the same period of last year. They had total investment of $7.66 billion, a drop of 0.5 percent.

The city's Pudong development zone has approved 653 projects this year, a drop of 15 percent. They involve $2.54 billion, an increase of 20 percent.

Pudong is home to 3,316 foreign-funded enterprises, one-third of the city's total.