“Green shots” of economic recovery

Despite the difficulties and challenges caused by the global meltdown and recession which continued to exercise their influence during the second quarter of 2009, export volumes maintained their steady growth and prices slowly firmed.

During this period, we saw statements being made that the global recession is likely to persist: one suggested the decline in the global economy will continue - but at a slower rate; while another pointed to the appearance of “green shoots” of economic recovery. What is not really clear is whether or not these green shoots will flourish into large sustainable plants or whether they will achieve only stunted growth.

Asia/Pacific Rim

Stricter quality standards emerged as one of the key issues of the second quarter, affecting shipments to India and Indonesia where new controls were introduced which require inspection and certification.

Surveyor Indonesia had been planning to introduce 100% inspection controls for all shipments arriving at the country’s ports after June 24 this year; inspection was to be limited to two agencies only. A joint representation was made to the Indonesian government by BIR and local trade associations, with ensuing local follow-up. As a result of these approaches, the government has agreed to defer implementation until September 24 of this year and is also willing to expand the list of registered surveyors who can undertake inspections. Broad guidelines on these requirements are expected some time before September. (…)

See the full version of the BIR World Mirror in the Members Only section of the BIR website.