Become a Member

Author Archive

China’s Used Vehicle Exports Surge, Expanding Global Market Reach

China, International Trade, News

March 3, 2024

In a noteworthy development, China has seen a remarkable uptick in the export of used cars over the past five years, as reported by the People’s Daily Online. Since the initiation of a pilot program in 2019 designed to facilitate the export of used automobiles, China has experienced a staggering growth of over 250 […]

South Africa Joins Global Efforts for Sustainable Fisheries

News, Sustainable Trade

March 1, 2024

In a significant move towards promoting sustainable trade practices, South Africa formally deposited its instrument of acceptance of the Agreement on Fisheries Subsidies on 1st March. The Minister of Trade and Industry, Ebrahim Patel, presented South Africa’s acceptance to Director-General Ngozi Okonjo-Iweala at the closing session of the 13th Ministerial Conference (MC13) held in Abu […]

Indonesia Aims for OECD Membership to Boost Trade Prospects

Indonesia, News, Trade Policy

February 28, 2024

Indonesia is eyeing membership in the Organization for Economic Co-operation and Development (OECD) within the next two to three years, with the aim of enhancing its trade landscape, a senior cabinet minister announced Wednesday. As Southeast Asia’s largest economy, Indonesia sees OECD membership as a strategic move to attract increased investment and foster beneficial […]

U.S. Trade Chief Offers Insights on WTO Negotiations

International Trade, News, United States

February 28, 2024

U.S. Trade Representative Katherine Tai provided an update on the ongoing negotiations at the World Trade Organization (WTO), indicating that while an agreement on reforming dispute settlement appeals was not expected this week, progress was evident, and the atmosphere remained constructive. The impasse in the WTO’s dispute settlement system, attributed to the U.S. blocking […]

US Spirits Exports Surge Amid Tariff Suspension by EU

Europe, International Trade, News, United States

February 28, 2024

In a positive turn of events for the spirits industry, exports of American spirits experienced a notable 8% increase in 2023, totaling $2.2 billion, as reported by the Distilled Spirits Council of the United States. This surge followed the European Union’s decision to suspend the 25% retaliatory tariffs on American whiskey. The tariff suspension, […]

Sweden Supports Trade Growth in Least Developed Countries with SEK 27 Million Contribution

International Trade, News

February 28, 2024

Sweden has pledged SEK 27 million (equivalent to approximately CHF 2.3 million) to bolster economic growth in least developed countries (LDCs) through the Enhanced Integrated Framework (EIF). This funding will aid LDCs in maintaining their economic momentum during the transitional phase between the end of Phase Two of the EIF and the establishment of a […]

Malaysia Set to Forge Free Trade Accord with UAE in June

International Trade, Malaysia, News, United Arab Emirates

February 28, 2024

Malaysia is poised to join the ranks of nations deepening economic ties with Abu Dhabi as it gears up to sign a Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE) by June, according to Malaysia’s trade minister. Trade Minister Tengku Zafrul Aziz disclosed in an interview with Reuters in Abu Dhabi […]

Korea Aims for Ambitious Export Target with Focus on Chip and Car Shipments

Economic Policy, News

February 28, 2024

In a strategic move to bolster its export sector, Korea has set its sights on achieving an annual outbound shipment target of $700 billion, signaling a strong commitment to economic growth. The announcement came from the industry ministry on Wednesday, outlining plans to provide comprehensive policy and financial support to key industries, particularly chips and […]

South Korea Exports Expected to Extend Growth Streak in February

Global Trade, News, South Korea

February 28, 2024

South Korea’s export trajectory is poised to continue its upward trajectory, marking a fifth consecutive month of growth, predominantly propelled by chip shipments, according to a recent Reuters poll. Analysts anticipate a modest 1.9% increase in exports for February compared to the same period last year. This follows an impressive 18.0% surge recorded […]

Chinese Premier Calls for Enhanced Economic and Trade Relations with US

News, Trade Relations, United States

February 28, 2024

Chinese Premier Li Qiang emphasized the importance of strengthening economic and trade ties between China and the United States during a meeting with a visiting US delegation, as reported by Chinese state radio on Wednesday. Li emphasized that fostering economic and trade cooperation would benefit both nations, highlighting the mutually advantageous nature of such […]

WTO Director-General Urges Members to Forge Consensus as MC13 Nears Conclusion

News, Trade Policy

February 28, 2024

As the 13th Ministerial Conference (MC13) in Abu Dhabi approaches its closing session, WTO Director-General Ngozi Okonjo-Iweala commended members for the significant progress achieved during the intensive three-day meeting. With less than 24 hours remaining, she urged ministers to intensify their efforts and bridge remaining gaps on critical issues. Speaking at a meeting of […]

Vietnam Records Stable Growth in Rice Exports for Jan-Feb 2024

Agricultural Trade, News, Vietnam

February 28, 2024

Vietnam has reported a steady increase in rice exports for the first two months of 2024, according to recent government data released on Thursday. In January and February, Vietnam exported a total of 912,000 metric tons of rice, marking a modest 2.1% increase compared to the same period last year. The General Statistics Office […]

US Resumes Poultry Exports to Colombia After Negotiations

Bilateral Trade Relation, Colombia, News, United States

February 28, 2024

Following successful negotiations between the United States and Colombia, the months-long halt on the US poultry industry’s access to the Colombian market has come to an end. The resumption of poultry and egg exports to Colombia marks a significant milestone in bilateral trade relations between the two countries. Greg Tyler, President of the USA […]

Taiwan’s January Export Orders Surpass Expectations Driven by AI Demand

News, Taiwan, Technology

February 27, 2024

In a surprising turn of events, Taiwan’s export orders for January outpaced expectations, showcasing resilience amid dynamic global market conditions. With a rise of 1.9% from the previous year, reaching $48.42 billion, the island nation defied projections of a 3.6% decline as forecasted by a Reuters poll. This unexpected surge follows a significant 16.0% drop […]

Significant Growth Reported in Cargo Shipments for 2023 at Indiana Ports

Economic Development, News

February 27, 2024

In a notable development for Indiana’s maritime industry, there has been a substantial increase in cargo shipments for the year 2023 at the ports of Indiana. Experiencing a 6% rise compared to the previous year, a total of 12.6 million tons of cargo were shipped, marking the second-highest tonnage recorded in the history of these […]

Global Trade Leaders Stress the Need for Strengthening the WTO to Deliver Trade Benefits

News, Trade Agreements

February 26, 2024

Today, a gathering of global trade leaders underscored the necessity of revitalizing the World Trade Organization (WTO) to effectively address the needs of people worldwide through trade. The 13th WTO Ministerial Conference (MC13) in Abu Dhabi served as a platform for stakeholders to emphasize the importance of maximizing the multilateral trading system’s potential, promoting socio-economic […]

The International Trade Council is a global, peak-body, chamber of commerce that supports businesses and governments by providing resources, advocacy, and networking opportunities to promote international trade and foreign direct investment. It serves as a platform for organizations to collaborate, share knowledge, and navigate the complexities of global markets.

About the ITC

Resources

Legal

© 2024 - International Trade Council. A Peak-Body, International Chamber of Commerce.