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Japan Bolsters Long-Term LNG Supplies with Allies Australia and the U.S.

Japan, News, Trade Agreements, United States

March 10, 2024

In a bid to secure stable, long-term supplies of liquefied natural gas (LNG), resource-scarce Japan has deepened its partnerships with close allies Australia and the United States. This strategic move comes as key contracts from various providers are set to expire by the early 2030s. Last month, JERA, Japan’s leading power generator, finalized an agreement […]

Positive Developments in Chinese Trade Barriers on Australian Wine and Lobster

News, Trade Relations

March 9, 2024

In a promising update, Australian Trade Minister Don Farrell announced significant progress in addressing trade barriers imposed by China on Australian wine and lobster. Farrell expressed optimism as China nears completion of its review into tariffs on Australian wine, with expectations for a resolution by the end of March. Additionally, China is reassessing restrictions on […]

Historic Trade Pact Between India and EFTA Nations to Boost Global Commerce

India, News, Trade Agreements

March 9, 2024

In a landmark move set to reshape international trade dynamics, India is poised to finalize an economic pact with the European Free Trade Association (EFTA) on Sunday. This agreement, involving Switzerland, Norway, Iceland, and Liechtenstein, marks the culmination of nearly sixteen years of meticulous negotiations, promising to significantly enhance trade and investment flows. With […]

ASEAN Advances Free Trade Agreement with Australia and New Zealand

Australia, New Zealand, News, Trade Agreements

March 8, 2024

In a significant step towards bolstering regional trade relations, the Philippines has signed the second protocol to the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA). President Ferdinand Marcos Jr., in his address during the ASEAN-Australia Special Summit Leader’s Plenary Session, expressed confidence in the agreement’s potential to bolster the region’s economy and support micro, small, […]

Switzerland Sets Course for Renewed EU Relationship Talks

Europe, News, Switzerland, Trade Relations

March 8, 2024

In a pivotal decision on Friday, the Swiss government has green-lighted the initiation of discussions with the European Union, aiming to rejuvenate the nation’s ties with the bloc. This move comes as a significant step forward after the disintegration of a former agreement attempt in 2021. Switzerland’s strategy emphasizes the vital importance of unfettered access […]

Chile’s Copper Exports Surge to $3.47 Billion in February

Agricultural Trade, Chile, News

March 7, 2024

Chile, renowned as the leading copper producer globally, showcased its robust trade performance in February as copper exports soared to $3.47 billion, marking a commendable 3.77% increase compared to the same period last year. This impressive feat was revealed by the central bank on Thursday, underscoring Chile’s pivotal role in the copper market. Despite […]

WTO Invites Applications for 2025 Young Professionals Programme

International Trade, News

March 7, 2024

The World Trade Organization (WTO) has announced the commencement of the application process for its 2025 Young Professionals Programme (YPP). Individuals up to the age of 32 as of January 1, 2025, hailing from eligible developing economies and least-developed countries (LDCs), are encouraged to submit their applications by April 2, 2024. Selected candidates will […]

Japan Maintains Full-Year Current Account Surplus

International Trade, Japan, News

March 7, 2024

Japan has sustained its current account surplus for a consecutive full year, according to data released by the Ministry of Finance on Friday. The surplus in January was attributed to increases in overseas interest rates, which led to gains from foreign bond holdings. In January, Japan’s current account surplus amounted to 438.2 billion yen […]

Brazilian Sugar Mills Prioritize Sugar Production Over Ethanol

Agricultural Trade, Brazil, News

March 7, 2024

Brazilian sugar mills are gearing up to boost their sugar production capacity by up to 10% in the upcoming season starting from April, driven by favorable sugar prices and the availability of cheaper corn for ethanol production. As the world’s largest sugar producer, Brazil is capitalizing on its position amidst a global market influenced […]

Digital Trade Plays a Key Role in Empowering Women in Global Commerce

Digital Trade, News

March 7, 2024

In a compelling address at the “Women in Trade” event in London on March 7, Deputy Director-General Johanna Hill of the World Trade Organization (WTO) shed light on the transformative impact digital trade and services sector can have on women’s socio-economic status. The event, hosted by Trade Finance Global, became a platform for advocating the […]

China’s Export Surge Sets Positive Tone for 2024 Amid Global Economic Challenges

China, Global Trade, News

March 7, 2024

China kicks off the year 2024 on a high note as it reports a remarkable 7.1% increase in exports for the first two months, surpassing expectations and fueling optimistic forecasts despite lingering challenges in the global economy. The surge in exports, reaching US$528 billion, has outpaced predictions, signaling resilience in China’s trade sector amidst […]

China’s Visa-Free Travel Initiative Opens New Trade Opportunities

China, International Relations, News

March 6, 2024

China has unveiled a groundbreaking visa-free travel initiative, set to catalyze trade relations with six nations. Foreign Minister Wang Yi announced the move on March 14, extending the privilege to citizens of Switzerland, Ireland, Hungary, Australia, Belgium, and Luxembourg. This strategic decision not only promotes tourism but also lays the groundwork for enhanced trade […]

Australia and Vietnam Elevate Relations, Initiate Talks on Critical Minerals Cooperation

Australia, News, Sustainability, Vietnam

March 6, 2024

In a significant diplomatic move, Australia and Vietnam have announced an upgrade in their bilateral relations to a comprehensive strategic partnership. This development, revealed by Australian Prime Minister Anthony Albanese on Thursday, includes the commencement of annual discussions on minerals, underscoring efforts to diversify supply chains away from China. The enhanced partnership signifies a […]

Vietnam’s Diplomatic Successes Highlighted in Bamboo Diplomacy Advancement

News, Trade Relations, Vietnam

March 6, 2024

Vietnam, under the leadership of Communist Party General Secretary Nguyen Phu Trong, continues to bolster its international standing through strategic diplomacy, termed “bamboo diplomacy,” with recent successes including upgraded ties with major global players. In the latest development, Vietnam elevated its relationship with Australia, marking another milestone in its diplomatic outreach. This achievement comes […]

Japan’s Contribution to WTO Empowers Developing Economies in Trade Capacity Building

International Trade, Japan, News

March 6, 2024

In a commitment to bolster inclusive global trade, Japan pledges EUR 115,000 (about CHF 108,000) to the WTO’s Global Trust Fund for 2024, aiming to support training programs for government officials from developing economies and least-developed countries (LDCs). This contribution underscores Japan’s dedication to enhancing the trade-related capabilities of developing nations, enabling them to […]

Australia Launches $1.3 Billion Fund to Enhance Trade with Southeast Asia

Australia, International Trade, News, Southeast Asia

March 5, 2024

Australia has announced plans to establish a significant finance facility worth A$2 billion ($1.3 billion) aimed at boosting trade and investment in Southeast Asia, demonstrating its commitment to strengthening ties with the ASEAN bloc, which stands as the country’s second-largest two-way trading partner. Treasurer Jim Chalmers emphasized the importance of the region, stating, “Our […]

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