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 […]
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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 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 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 […]
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 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 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 […]
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’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 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 […]
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 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 […]
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 […]
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 […]