Thai rice exports seen at 7m tons<\/p>\n
BANGKOK: Thailand's exports of rice will be strong again this
\nyear, with sales projected to reach at least 7 million metric
\ntons, Commerce Minister Adisai Bodharamik said Tuesday.<\/p>\n
However, the exports will be lower than the total recorded for
\n2001, which was a record high of 7.55 million tons.<\/p>\n
This was 16 percent higher than original projections and 14
\npercent above the 6.61 million tons exported in 2000, according
\nto a statement by Adisai.<\/p>\n
Because of falling global rice prices, the value of Thailand's
\nrice exports declined last year to US$1.57 billion from $1.72
\nbillion in 2000. Thailand is the world's largest rice exporter.<\/p>\n
The Commerce Ministry's projection of 7 million tons for 2002
\nis disputed by the private sector Rice Exporters Association,
\nwhich forecasts exports of 6.5 million tons.--AP<\/p>\n
S'pore bankruptcies hit record high<\/p>\n
SINGAPORE : The number of people made bankrupt in Singapore
\nreached a record 2,904 last year when the economy lurched into
\nits worst recession since independence, a report said Tuesday.<\/p>\n
The figure surpassed the 2,874 people who filed for bankruptcy
\nin 1999 following the Asian financial crisis, the Straits Times
\nsaid.<\/p>\n
Between 200 to 350 people were made bankrupt each month from
\nJanuary to November 2001, it said.<\/p>\n
\"It's a reflection of what we are facing now -- that this
\nrecession is the most serious ever,\" lawyer Hri Kumar told the
\nnewspaper.<\/p>\n
In Singapore, a person who cannot pay a S$10,000 (US$5,435)
\ndebt can be made bankrupt, after which his bank account will be
\nclosed and he cannot leave the country without permission by the
\nOfficial Assignee.--AFP<\/p>\n
U.S. raises Cambodian textile quota<\/p>\n
WASHINGTON : The US government said Monday it had agreed to
\nopen the door further to textile exports from Cambodia because
\nthe country had improved its respect for workers' rights.<\/p>\n
The quota for most textile exports was expanded by 15 percent,
\nexceeding the normal increase of six percent, the U.S. Trade
\nRepresentative (USTR) office said in a statement.<\/p>\n
The extra nine percentage points were agreed to \"in
\nrecognition of Cambodia's progress in reforming labor conditions
\nin textile factories over the last three years,\" the USTR said.<\/p>\n
\"This renewal of our bilateral textile agreement is an
\nexcellent example of the way trade agreements lead to economic
\ngrowth and promote a greater respect for workers' rights,\" U.S.
\nTrade Representative Robert Zoellick said.<\/p>\n
The new agreement, signed in Phnom Penh on Dec.31, recognizes
\nCambodia's progress towards ensuring \"substantial compliance\"
\nwith internationally-accepted labor standards in its garment
\nindustry, the USTR said. --AFP<\/p>",
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"sponsor": "Okusi Associates",
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