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China: Foreign Exchange Regulations Revised

(Sept. 11, 2008) On August 5, 2008, the State Council of the People's Republic of China (PRC) published the revised Regulations on the Administration of Foreign Exchange, which took effect on the same day (Chinese text available on the PRC Central People's Government official website, http://202.123.110.5/zwgk/2008-08/06/content_1066085.htm (last visited Aug. 25, 2008)). The Regulations, first promulgated […]

Mexico: New Import Rules for Passengers

(June 2, 2008) According to the General Rules on Matters of Foreign Trade for 2008 that were published officially in the Mexican federal official gazette on April 30, 2008, passengers who come into the country by land, air, or sea may import up to US$3,000 in merchandise without having to use the services of a […]

Switzerland: Arms Control

(Dec. 2, 2007) On November 14, 2007, the Swiss Commerce Department (Eidgenösasisches Volkswirtschaftsdepartment, EVD) announced that it suspended an export permit for 21 Swiss-produced anti-aircraft missile systems for Pakistan. The exports had been approved in December 2006 and six of the systems have already been delivered. The remainder of the exports, valued at approximately 98 […]

South Korea: Foreign Remittance De-Regulation

(Dec. 2, 2007) The Korean Finance and Economy Ministry released the Foreign Currency System Improvement Plan on November 8, 2007. Korea currently allows a Korean person or firm to transfer abroad up to US$ 3 million per person or firm to buy real estate for investment purposes. This limit will be removed during 2008. The […]