1 AMCHAM MONGOLIA CONDEMNS RECENT ASSAULT ON BADRAKH ENERGY EXECUTIVE WWW.ITOIM.MN PUBLISHED:2025/04/24      2 FSS WARNS OF INVESTMENT SCAM IMPERSONATING MONGOLIA'S G BANK FOR HIGH-YIELD BONDS WWW.BIZ.CHOSUN.COM PUBLISHED:2025/04/24      3 STRENGTHENING MONGOLIA-UK PARLIAMENTARY COOPERATION WWW.COMMENTCENTRAL.CO.UK PUBLISHED:2025/04/24      4 DELPHOS ADVISES ON HISTORIC $20 MILLION INVESTMENT FOR FINTECH LENDMN TO PROPEL FINANCIAL INCLUSION IN MONGOLIA WWW.MEDIA-OUTREACH.COM 2 PUBLISHED:2025/04/24      5 CABINET TO SUBMIT A DRAFT LAW TO CHANGE THE DEVELOPMENT BANK OF MONGOLIA TO THE EXPORT-IMPORT BANK OF MONGOLIA WWW.MONTSAME.MN PUBLISHED:2025/04/24      6 CONSTRUCTION OF THE GANTSMOD-GASHUUNSUKHAIT RAILROAD TO BEGIN IN MAY WWW.MONTSAME.MN PUBLISHED:2025/04/24      7 CAPITAL MOVING FURTHER AWAY FROM HAPPINESS WWW.UBPOST.MN PUBLISHED:2025/04/24      8 MONGOLIAN NATIONAL MINING ASSOCIATION DEMANDS ACCOUNTABILITY AFTER PROTEST TURNS VIOLENT WWW.GOGO.MN PUBLISHED:2025/04/23      9 MONGOLIA’S INTERIM FREE TRADE DEAL WITH THE EAEU: WHAT’S AT STAKE? WWW.THEDIPLOMAT.COM PUBLISHED:2025/04/23      10 IN MEMORY OF HIS HOLINESS POPE FRANCIS WWW.MONTSAME.MN PUBLISHED:2025/04/23      "ТӨГРӨГ НУУРЫН ОРД"-ТОЙ ХОЛБООТОЙ ХЭРГИЙГ ХАМТАРСАН АЖЛЫН ХЭСЭГ МӨРДӨН ШАЛГАЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/24     Б.БЕЙСЕН: ӨНГӨРСӨН ЖИЛ ОЛГОСОН 101 ТЭРБУМЫН ХӨНГӨЛӨЛТТЭЙ ЗЭЭЛИЙГ 6 ГУРИЛЫН ҮЙЛДВЭР Л АВСАН WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/24     АЗИ ТИВИЙН ДОЛООН ОРНЫ ШАТАРЧИД МОНГОЛД ЦУГЛАРЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/24     ГАДААД ХАРИЛЦААНЫ САЙД Б.БАТЦЭЦЭГ УНГАР УЛСАД АЛБАН ЁСНЫ АЙЛЧЛАЛ ХИЙНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/24     БӨӨРӨЛЖҮҮТИЙН ЦАХИЛГААН СТАНЦ ЭНЭ ОНД 893.6 САЯ КВТ.Ц ЦАХИЛГААН ЭРЧИМ ХҮЧ НИЙЛҮҮЛНЭ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/24     ОРОСЫН БАГ УРАН НИСЛЭГИЙН ҮЗҮҮЛБЭРЭЭ ТОЛИЛУУЛНА ГЭВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/24     ОРОН СУУЦ, СУРГАЛТЫН ТӨЛБӨРИЙН ТАТВАРЫН ХӨНГӨЛӨЛТИЙГ ИРГЭДИЙН ДАНСАНД ШИЛЖҮҮЛЖ ЭХЭЛЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/24     НИЙСЛЭЛИЙН ЗАСАГ ДАРГЫН ДЭРГЭДЭХ 4 ГАЗРЫГ ТАТАН БУУЛГАЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/23     ГАНЦМОД-ГАШУУНСУХАЙТЫН ТӨМӨР ЗАМЫН БҮТЭЭН БАЙГУУЛАЛТ ИРЭХ САРЫН 14-НД ЭХЭЛНЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/23     Н.УЧРАЛ: "БОР ТЭЭГ"-ИЙН УУРХАЙД ТҮНШЛЭЛИЙН КОМПАНИУДТАЙ БАЙГУУЛСАН ГЭРЭЭГ ХҮЧИНГҮЙ БОЛГОЛОО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/23    

Category

Events

Events

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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KFC told to stop using chicken treated with antibiotics www.bbc.com

The company that owns Kentucky Fried Chicken is facing new calls to stop using poultry that has been treated with antibiotics.
US consumer groups will deliver a petition signed by more than 350,000 people to Yum Brands on Wednesday.
KFC has already promised to limit the use of human antibiotics in its chicken by next year.
However, critics claim the policy effectively allows for routine use of antibiotics by its chicken suppliers.
The chain does not allow the use of antibiotics to promote the growth of poultry in line with federal government rules.
A KFC spokesperson said it was reviewing whether it could force suppliers to go beyond Food and Drug Administration rules on antibiotics usage.
"KFC is lagging woefully behind - diners around the country want KFC to step up," said Lena Brook of the Natural Resources Defense Council, which is one of the groups delivering petitions to KFC headquarters in Louisville, Kentucky.
The action comes a day after Yum investors submitted a proposal asking that the company to speed up plans to stop using antibiotics in its meat.
Other Yum brand chains - Taco Bell and Pizza Hut - plan to cut the use of chicken treated with antibiotics by early next year.
Medical experts warn that the routine use of antibiotics to promote growth and prevent illness in farm animals contributes to the rise of drug-resistant "superbug" infections that kill at least 23,000 Americans each year and represent a significant threat to global health.
Fast food restaurants have become a focal point for change in the food industry by forcing suppliers to change their practices.
Last week McDonald's said it had switched to antibiotic-free chickens in the US and Canada.
Chick-fil-A, another big US fast food chicken chain, has promised to use only antibiotic-free chickens by 2019.

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Dollar weakens, Fed policy in focus www.reuters.com

The U.S. dollar fell on Wednesday as investors awaited a speech by Federal Reserve Chair Janet Yellen later this month in the absence of new major economic reports that could provide signs of economic strength.
 
The greenback gained after Friday's jobs report for July showed better-than-expected employment gains, raising prospects for a further rate increase this year. It has since given back those gains.
 
"It's been a fairly broad trend of dollar selling this week," said Vassili Serebriakov, FX strategist at Credit Agricole in New York.
 
Data on Tuesday showing that U.S. nonfarm productivity fell in the second quarter helped weigh on the dollar.
 
Falling Treasury yields on Wednesday also helped weaken the greenback.
 
Investors expecting a more hawkish tone from Yellen at the U.S. central bank's Aug. 26 symposium in Jackson Hole, Wyoming, may hold off on placing their bets until closer to the event, analysts said.
 
"There is a window of opportunity to be short dollars without the threat of a hawkish Fed message for a couple of weeks," said Serebriakov. "That is probably partly driving the market."
 
The dollar index against a basket of currencies fell 0.53 percent to 95.673, after dropping to 95.442, the lowest since last Thursday.
 
The dollar pared losses after oil prices turned negative.
 
The greenback was 0.64 percent weaker against the Japanese yen at 101.24 and 0.47 percent lower against the euro at $1.1170.
 
The next major U.S. economic indicator will be Friday's retail sales report for July.
 
Reduced liquidity, as investors and traders take summer vacations, is seen as exaggerating price moves.
 
The Australian dollar advanced to a more than three-month peak of $0.7756, before falling back to $0.7704, buoyed this week by Australia's relatively high yields and stronger investor appetite for risk.
 
"Part of the Australian dollar's resilience is the lack of follow-through in pricing for a Fed hike in September, limiting the U.S. dollar's gains," analysts at Westpac said in a note.
 
The British pound was steady at $1.3005, after rising to $1.3094. It fell to $1.2956 on Tuesday, its lowest since July 11.
 
The Reserve Bank of New Zealand is expected to be the next central bank to cut rates, by 25 basis points to 2.00 percent on Thursday.
 
The kiwi gained 0.63 percent against the U.S. dollar to $0.7209.
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Russia to develop India’s nuclear power industry www.rt.com

An agreement to construct the third stage of India’s Kudankulam nuclear power plant is expected by year end, said Russian President Vladimir Putin on Wednesday.
 
"We have big plans with our Indian friends in the area of nuclear energy. Construction work on the third and fourth blocks of the plant started in February. We expect to sign a general framework agreement and a credit line for the construction of a third stage by the end of this year," Putin said during a video conference dedicated to the handover of the plant’s first power unit to India.
 
The power station is currently being built by the Russian nuclear corporation Rosatom as part of a deal signed between Moscow and New Delhi in 1998.
 
Putting into operation the first and second reactors of the Kudankulam nuclear power plant (NPP) will enhance India’s energy supply and strengthen its economic position, said Putin adding that eighty percent of the project’s financing is covered by a Russian loan.
 
Indian Prime Minister Narendra Modi said the country plans to build a number of 1,000-megawatt nuclear power plants with Russia.
 
“In the years ahead we are determined to pursue an ambitious agenda of nuclear power generation. At Kudankulam alone, five more reactors of 1,000 megawatt each are planned. In terms of our cooperation with Russia, we plan to build a series of bigger nuclear power plants," Modi said.
 
Two years ago Russia and India signed an agreement to construct the NPP’s second stage, including the third and fourth blocks. During Modi’s visit to Moscow in December the sides decided to develop a road map for cooperation in nuclear energy which envisages the construction of 15 nuclear reactors in India, including at the Kudankulam site.
 
At the moment, Russia is the only country cooperating with India on nuclear energy. The first reactor at the Kudankulam NPP is among the most powerful in India, and meets the latest safety requirements. The second generator is planned to start operating in the coming months.
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China steps in to tighten rare-metal markets www.asia.nikkei.com

TOKYO -- China is stockpiling rare metals and curbing output to tighten global markets, pushing up prices of some materials despite sluggish underlying demand.
 
The metalloid antimony went for around $7,100 a ton on the London spot market in early August. This marked a climb of a little over 10% from a recent low in early June, as well as a one-year high.
 
Over the past year, antimony has for the most part traded at $5,000 to $7,000 a ton, weighed down by sluggish demand and overproduction. China, which produces roughly 80% of the metalloid worldwide, has cracked down on smuggling and in early spring began using environmental regulations to halt operations at major producers. But this resulted in only a slight upturn in prices on the international market.
 
The recent surge came after the government said it would stockpile a total of 10,000 tons of the metalloid in two rounds: one in July, and the other in October. This spurred expectations of coming cuts to excess inventory, encouraging buying.
 
Don't care much
 
Global demand for antimony amounts to some 60,000 tons a year. China's stockpiling is thus "large enough to have a fair impact," said an official of Nihon Seiko, a major producer of antimony compounds.
 
But consumers of the metalloid appear unperturbed. Antimony trioxide is often added as a flame retardant to plastics used in electronic devices and autoparts. Yet demand has grown sluggish in the U.S. and Japan. "We never have to rush" to obtain antimony or its derivatives, a source at a nonferrous-metal trading house said. "If we put out a call, we could buy some immediately."
 
China has also stepped into the market for tungsten, used to make highly durable carbide tools. Market benchmark ammonium paratungstate, or ATP, traded at around $195 for 10kg in early August -- up 8% from a recent low in mid-July. The Chinese government in April began stockpiling 10,000 tons of the metal, or roughly a tenth of annual domestic production, causing prices to surge. But slowing demand for construction machinery and industrial tools put the market in decline once again in June and onward.
 
Not what we need
 
China's six leading producers of rare-earth metals, used widely in electronics, are set to stockpile around 5,000 tons of the materials this year. The government aims to buy up around 15,000 tons of rare earths from those suppliers for its own reserve. But the prices it is offering do not even meet the costs of production. So the stockpile plan has run aground, with no one willing to sell.
 
Rare-earth prices on the world market are sliding as companies outside China work to cut back on consumption. "Without demand, high prices won't remain that way for long," said Yoshikazu Watanabe, president of Japanese nonferrous-metal consultancy Tsukushi Shigen Consul.
 
The U.S. and the European Union in July challenged Chinese export restrictions on several raw materials, including antimony ore and other forms of the element, under the World Trade Organization. But global prices have felt little impact. Japan, which imports antimony as a base element and in oxide form, is not involved in the challenge, according to a Japanese trading house.
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BP seeks buyers for petrochem JV stake www.chinadaily.com

British oil major BP Plc is seeking buyers for its 50 percent stake in a Chinese petrochemicals joint venture, its single largest investment in China, in a deal that would fetch $2 billion to $3 billion, people familiar with the matter said.
 
BP has hired an investment bank to sell its shareholding in Shanghai SECCO Petrochemical Co Ltd as part of a drive to cash out of businesses where it lacks control, the sources added.
 
A successful deal would mark BP's first significant exit from a business in China.
 
Situated in Caojing near Shanghai, SECCO is China's largest petrochemicals refinery and was built at a cost of $2.7 billion, according to BP's website.
 
State-owned China Petroleum & Chemical Corp, known as Sinopec, and one of its units hold the other half of SECCO, according to the website.
 
A London-based BP spokesman declined to comment, and Sinopec did not offer immediate comment.
 
SECCO, a venture formed in 2001, produces ethylene and propylene, which are used to make resins, plastics and synthetic rubbers.
 
While Sinopec has the right of first refusal on the potential sale, bankers said Chinese State-owned enterprises are unlikely to step in to buy the stake.
 
BP's stake has been marketed to existing refinery operators in China, including companies from Japan, South Korea and Europe, the sources added.
 
BP, like other global oil and gas companies, has been sharpening its focus on costs and core businesses as it reels from lower oil prices.
 
It has sold more than $50 billion of assets since the deadly 2010 Gulf of Mexico oil spill in order to pay for cleanup costs and legal bills. This year, it plans to offload between $3 billion and $5 billion worth of assets, of which $1.9 billion has been agreed, it said when releasing second-quarter earnings last month.
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U.S. has more untapped oil than Saudi Arabia or Russia www.cnn.com

Move over, Saudi Arabia and Russia. America now has more untapped oil than any other country on the planet.
That's according to a new report from Rystad Energy that estimates the U.S. is sitting on an incredible 264 billion barrels of oil reserves. It includes oil in existing fields, new projects, recent discoveries as well as projections in undiscovered fields.
More than half of America's untapped oil is unconventional shale oil, according to Rystad. Shale oil is the previously-unreachable crude that, thanks to fracking and new technology, has reshaped the global energy landscape and vaulted the U.S. into the upper echelon of global oil producers.
"This has been a revolution. Ten years ago nobody would have dreamt this would have been the result," Jarand Rystad, CEO of Rystad Energy, told CNNMoney.
The findings suggest the U.S. could shoulder even more of the weight of global oil production in the future, especially as prices recover. U.S. output has declined modestly over the past year as a result of oil prices crashing to levels that aren't profitable for all but the best shale oil fields.
But there are seas of oil just waiting to get tapped once oil prices rebound. Texas, home to the Eagle Ford, Permian and Barnett shale oil plays, holds more than 60 billion barrels of shale oil alone, Rystad estimates. That's more than the untapped oil in all of China. There are also vast sums of oil beneath the ground in North Dakota, where the Bakken shale oil play sits.
Thanks to the shale oil boom, the U.S. is now sitting on more oil reserves than Russia, which Rystad estimates as having 256 billion barrels of untapped oil. The next-richest countries in terms of oil after that are: Saudi Arabia (212 billion), Canada (167 billion), Iran (143 billion) and Brazil (120 billion).
Rystad, an independent research firm based in Norway, argues its estimate does a better job of capturing the real picture of global oil reserves than more conservative metrics often cited.
For example, the closely-followed BP Statistical Review pegs U.S. oil reserves at just 55 billion barrels, compared with 301 billion barrels for Venezuela. But Rystad notes that BP relies on numbers reported by national authorities and Venezuela's figures include undiscovered oil. Rystad also points out that countries often exaggerate their oil reserve figures to inflate their standings within OPEC.
"The upside potential is much larger in the United States," Rystad said.
All told, the world has 2.1 trillion barrels of untapped oil, or 70 times the current global annual production rate, Rystad estimates.
While that may sound like a ton of oil, Rystad argues it's actually proof that "there is a relatively limited amount of recoverable oil left on the planet."
That's a big deal given the fact global oil demand continues to grow, even in today's sluggish economy. Many expect that growth to remain steady or even accelerate as people in fast-growing economies like India and China buy cars.
"Oil alone cannot satisfy the growing need for individual transport," Rystad concludes.
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Invest Mongolia 2016 www.mongolianbusinessdatabase.com

Mongolian Business Database (MBD) is officially supporting the Frontier Conference's "Invest Mongolia 2016" forum which will be held in Ulaanbaatar Mongolia between Sep 05-06.2016.
Please review the following announcement.

11th ASEM (Asia-Europe Meeting) has successfully finished on July 16. As the host country, Mongolia has given great impressions on a mere 3 million population country to world leaders including 11 head of States and 23 heads of Governments with the strong leadership of President Elbegdorj.
This is the landmark event for the diplomacy because 1.5 billion people in the world has watched the event on TV. Hence, we expect to see the spillover effects in a future.
In addition, Mongolian People’s Party (MPP) has enjoyed a surprising landslide victory on the General Election at the end of June taking 85% of the seats at the parliament. Immediately after the election, M. Enkhbold has become the Speaker of the Parliament. And, under his leadership, the opinions of the Parliament and the Cabinet will be united and the decision makings will be quicker.
Because of those two events, the sentiment of foreign investors will improve in a short term.
However, the really important issues from now on will be whether the contents of the plan of Action for the next 4 years announced by the Government will be feasible, consistent, friendly and acceptable for investors.
We particularly want to know the policies of the new leaders to revive the economy as soon as possible.
Also, we want to know the measures to make the policies consistent.
Remember that we are still waiting for the regional elections in October and the Presidential election next year. So, the pressures to expand the expenditure will be on the rise. However, we do not want to see the policies to be influenced by those sentiments.
We also want to see follow-ups of ASEM meetings in the latter half of this year.
As we host Invest Mongolia at the first week of September, we should know rough ideas of the directions of the country by then. So, this will be a great opportunities for everyone to get together.
Therefore, Frontier is pleased to invite you all to our upcoming “Invest Mongolia 2016” conference on September 5-6, 2016. This conference is one the of the largest events in Mongolia, which serves as a platform of bringing in people from the Government, key industries' players, financial institutions and global investors; where they get a chance to talk about several socio-political and economic development throughout the year. Thus, this conference will provide first-hand information you need to make your lucrative activities more fruitful.
We have successfully held the 9th Invest Mongolia on Sep 8-9, 2015 in Ulaanbaatar and the 3rd Invest Mongolia on Dec 9-10, 2015 in Tokyo with more than 1000 people attended from almost 30 countries in the world. For those of you who have not attended the conferences, please see the post conferences to learn more.

WHAT'S NEW THIS YEAR?
The assessments of the Action Plan in the next 4 years and whether the new Government will take investor friendly measures
What did Asia–Europe Meeting (ASEM) mean for Mongolia and the rest of the world?
The overview of Mongolian Economy including updates on legal, accounting and other regulatory changes
The progress and its impacts of OT underground and other major projects to the economy
The launch of AIIB and its involvements to the infrastructure development in Mongolia
The Mongolian Banking Industry and the Bank Strategies
The development of the non-mining sectors including the Real Estate
The foreign Investment in Mongolia: Concerns & Opportunities
The outlook of the Bond Market and the challenges of the refinancing ahead of 2017 when massive amount of maturities will take place in the market
AN ULTIMATE OPPORTUNITY TO LEARN AND NETWORK FROM KEY EXPERTS...
Registration is free of charge. For further inquiries, please contact at conference@frontier.mn
AN ULTIMATE OPPORTUNITY TO LEARN AND NETWORK FROM KEY EXPERTS...
Registration here (free of charge!)
Two Day Program:
The two-day conference will consist of presentations and panel discussions. There will also be a segregated area for exhibitors.

Sponsor/Exhibit & Delegate participation
Sponsoring, presenting and exhibition opportunities are available for those wishing to gain visibility and expand their network with Mongolia’s most prominent leaders.

For conference information, please visit us at http://frontier-conference.com 
For any other inquiries, please email us at conference@frontier.mn

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Japanese megabanks support fintech firms www3.nhk.or.jp

Leading Japanese banking groups are supporting startup firms that handle new services called fintech in the hope of taking them into their business.
 
Fintech refers to financial services employing the latest information technology to improve convenience for customers. Some analysts expect that fintech firms will eventually become a threat to banks.
 
Mitsubishi UFJ Financial Group is helping 5 companies that have proposed innovative technology and ideas.
 
Support measures include providing free office space and giving advice to turn ideas into business.
 
Mitsubishi UFJ officials say the startups have already come up with business ideas involving artificial intelligence and virtual currency.
 
Eiichi Kashiwagi, the head of a division supporting the companies, says creating innovative business is crucial for the survival of financial institutions.
 
He also says the banking group wants to take advantage of ideas proposed by the venture firms to improve its services.
 
Two other mega-banking groups, Mizuho Financial Group and Sumitomo Mitsui Banking Corporation, have held events to find promising IT companies.
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Looming Brexit headache for Nissan’s Sunderland plant www.bbc.com

Nissan's car manufacturing plant in Sunderland is the UK's largest, producing 500,000 vehicles a year. But it could face a crunch point for investment as soon as next year, sources tell BBC Newsnight, as a result of the uncertainty following the vote to leave the European Union.
The question is how Sunderland, which employs nearly 7,000 people, stacks up against other plants in the Renault-Nissan Alliance while the details of the UK's future trading and customs arrangements with Europe remain unclear.
The Franco-Japanese group makes its plants bid against each other to win significant new production contracts, with Sunderland facing stiff competition from Renault plants in continental Europe.
Nissan has previously said that future investment in the UK will depend on a "number of important factors, including the UK's trade and tariff negotiations with the European Union" - a message reiterated by chief executive Carlos Ghosn in comments to the BBC last week.
However, sources have told Newsnight that this presents a looming issue for Sunderland.
Bidding is expected towards the end of next year or in early 2018 for the latest model of the Qashqai, Nissan's popular "crossover" vehicle. The new model would be slated for launch in 2020.
It seems unlikely that the UK will have finalised its trading arrangements with the EU within that time frame.
So under those circumstances, would Sunderland even be able to bid to build the latest Qashqai model? Or would the plant have to include potential trade tariffs into its calculations, driving up the costs of its bid?
The worry is that Sunderland could effectively be handicapped when it comes to the process of bidding for new work, referred to by one source as a "beauty competition". Uncertainty over tariffs is particularly significant, given that about 80% of Sunderland's production is exported.
Bidding is expected towards the end of next year or in early 2018 for the latest model of the Qashqai, Nissan's popular "crossover" vehicle. The new model would be slated for launch in 2020.
It seems unlikely that the UK will have finalised its trading arrangements with the EU within that time frame.
So under those circumstances, would Sunderland even be able to bid to build the latest Qashqai model? Or would the plant have to include potential trade tariffs into its calculations, driving up the costs of its bid?
The worry is that Sunderland could effectively be handicapped when it comes to the process of bidding for new work, referred to by one source as a "beauty competition". Uncertainty over tariffs is particularly significant, given that about 80% of Sunderland's production is exported.
Unite, the trade union, on Tuesday told Newsnight that the Sunderland plant was "one of the most efficient and productive in the Nissan/Renault global family".
It added: "Central to the continuing success of the UK car industry is continued access to the single market with zero tariffs - ensuring we safeguard decent jobs and investment for the future."
Nissan, whose operations support close to 40,000 UK jobs in its own facilities and through its dealerships and supply chain, said ahead of the June referendum that its preference was that the UK voted to stay within the EU. Despite that, 61% of people in Sunderland backed Brexit in the vote.
Since the referendum, the manufacturer has said it is "working closely" with the government, but warns that "it is in the interest of the businesses and people of the UK that a resolution is reached as soon as possible" in trade and tariff talks with the EU.
Those in Sunderland, eyeing the bid to build the latest Qashqai next year, would surely agree.
 
 
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Norway may block UK return to European Free Trade Association www.theguardian.com

Norway could block any UK attempt to rejoin the European Free Trade Association, the small club of nations that has access to the European single market without being part of the EU.
 
Senior Norwegian government members are to hold talks with David Davis, the Brexit minister, in the next few weeks.
 
Some Brexit supporters have suggested that Efta would be one way of retaining access to the single market while honouring the referendum mandate to leave the EU.
 
Norway is not a member of the EU, but it has access to the single market from its membership of the European Economic Area (EEA), which groups all EU members and three of the four Efta members: Norway, Iceland and Liechtenstein, but not Switzerland.
 
Norway’s European affairs minister, Elisabeth Vik Aspaker, reflecting a growing debate in the country following the Brexit vote in the UK, told the Aftenposten newspaper: “It’s not certain that it would be a good idea to let a big country into this organisation. It would shift the balance, which is not necessarily in Norway’s interests.”
 
She also confirmed that the UK could only join if there were unanimous agreement, thereby providing Norway with a veto. Aspaker said she did not know the UK’s plans.
 
EEA membership requires the four EU freedoms: free movement of persons, services, goods and capital. Norway, in need of extra labour, does not oppose free movement, though the issue of asylum seekers and refugees is controversial.
 
An EU special summit in Bratislava in September and the Conservative party conference in October may provide greater clarity on the British government’s thinking, Aspaker said.
 
One concern is that Norway, through Efta, has signed trade agreements with 38 countries, including Mexico, Canada, Colombia, Morocco, Kuwait and Qatar. If the UK joined, those trade agreements might have to be renegotiated and future trade deals would become more complex.
 
During the UK referendum campaign, Norwegian government members, including the prime minister, Erna Solberg, repeatedly urged British voters not to follow the Norway example, saying: “Do not leave the EU, you will hate it.”
 
The largely pro-EU political class in Norway argue that the high price for access to the single market is a loss of sovereignty, since the country is bound by EU decisions without having a vote on how they are taken.
 
Britain was a founding member of Efta in 1960, a free trade organisation that was an appendage to the European Economic Community, the forerunner of the EU. In 1973, Britain joined the EEC.
 
By opposing a British return to Efta, where decisions are made by consensus, Norway would in effect block the UK’s chances of accessing the single market via the EEA, since only EU and Efta members can be part of the EEA.
 
Before the summer, Aspaker set up a working party within the foreign ministry to look into how to safeguard Norway’s interests.
 
She has stressed the need to retain good cooperative bilateral relations with the UK. But there are concerns that if the UK joined Efta, it might usurp Norway’s dominance of the small club or demand changes to the terms of the agreement.
 
Norwegian Labour party (NLP) officials are due to travel to the UK Labour party conference in September for talks on future relations with the EU.
 
Jeremy Corbyn, the Labour leader, told his party at the weekend that it needs to accept the vote to leave the EU, but has suggested the possibility of Norway-style access to the single market.
 
Sources in the NLP said there was growing concern at the consequences for Norway if the UK joined Efta. A source joked that the country might lose its superpower status in Efta, were this to occur. The combined population of current Efta nations is 14 million, compared with the UK population of 55 million.
 
Trygve Slagsvold Vedum, the leader of Norway’s Centre party, has accused the government of dawdling in responding to the Brexit vote, saying it needs to be proactive in defending Norwegian interests.
 
Audun Lysbakken, the leader of Norway’s Socialist Left party, has argued that the EEA agreement should be renegotiated with the UK’s help, saying countries “outside need a better model for cooperation with the EU than the current EEA agreement”.
 
He said he was amazed that his government did not want to have an open debate about a new relationship with the EU. “Throughout the spring, the government has been adamant that the EEA is not a good model and it is not something they would recommend to the British. Now they suddenly want to leave it as it is,” Lysbakken said.
 
“The EEA has created a significant democratic deficit through importing laws over which Norway has little influence.”
 
Polls in Norway have suggested that voters are divided over whether Brexit will be good for the country or whether it will signal the beginning of the end for the EU. Nearly 70% oppose Norway seeking to join the EU.
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