In a strategic move to expand its international trade relations, Uruguay has elevated its ties with China, aligning its level of engagement with that of its fellow Mercosur members, Brazil and Argentina. This development signifies Uruguay’s ambition to explore beneficial deals beyond its regional trade bloc, while China continues to deepen its connections in South […]
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In a significant move, the European Parliament has ratified a free trade agreement with New Zealand, marking the European Union’s first major trade deal endorsement since February 2020. This development, which saw a substantial majority voting in favor, is set to usher in a new era of EU-New Zealand trade relations, potentially boosting trade by […]
The European Commission and the High Representative for the Common Foreign and Security Policy have jointly released an enlightening report on the Generalized Scheme of Preferences (GSP), revealing its significant role in fostering economic stability and sustainable development in low-income countries. Amidst global uncertainties, the GSP, the EU’s primary trade policy tool aiding developing countries’ […]
In a promising development, Sri Lanka is set to finalize its free trade agreement (FTA) negotiations with Thailand by December, with plans to officially sign the agreement on February 3, 2024. This significant move comes as Sri Lanka actively seeks trade deals to stimulate economic growth and facilitate recovery from one of the most severe […]
In a groundbreaking session held on November 21, experts from the World Trade Organization (WTO) and other international organizations gathered to delve into the concept of supply chain resilience. This meeting, the first in a series of thematic sessions, aimed to establish a comprehensive understanding of supply chain resilience, providing a platform for members to […]
In a significant phone conversation, Chinese President Xi Jinping and French President Emmanuel Macron engaged in talks aimed at deepening economic collaboration between their countries. President Xi expressed China’s keen interest in attracting more investment from French companies, emphasizing the desire for a balanced business environment that also favors Chinese firms in France. The […]
In a pivotal move, Japan is intensifying its role in Ukraine’s post-conflict reconstruction, exemplified by a high-level visit to Kyiv by Japanese officials and business leaders. This visit sets the stage for an upcoming conference in Tokyo, aimed at bolstering Ukraine’s economic recovery. Led by Kazuchika Iwata, State Minister of Economy, Trade and Industry, […]
In a significant development in international relations, the United Kingdom and South Korea are set to commence negotiations on a fresh free trade agreement (FTA) and formalize a new diplomatic accord during the state visit of South Korean President Yoon Suk Yeol. This visit marks a momentous occasion, as it is the first state visit […]
In a significant development, Venezuela is on the verge of granting a license to Shell and the National Gas Company of Trinidad and Tobago for the development of a promising offshore natural gas field. This license will enable the production and export of natural gas to Trinidad and Tobago, marking a crucial step in cross-border […]
In a significant development, Brazil has officially become a member of the World Trade Organization’s agreement on trade in civil aircraft. This move has been enthusiastically welcomed by Embraer, one of the world’s leading aircraft manufacturers, as it paves the way for tariff-free imports of vital components from fellow member states. The approval of […]
In a significant commitment to global trade facilitation, the United States Department of Agriculture (USDA) has entered into a five-year agreement with the Standards and Trade Development Facility (STDF), pledging financial support from 2023 to 2028. This partnership reflects the USDA’s dedication to aiding developing countries in meeting international food safety, animal health, and plant […]
Norway has reaffirmed its commitment to global fisheries sustainability by contributing NOK 9 million (approximately CHF 730,500) to the WTO Fisheries Funding Mechanism. This financial support is aimed at assisting developing and least-developed member countries in effectively implementing the Agreement on Fisheries Subsidies. Norway’s WTO Ambassador, Petter Ølberg, presented this generous contribution to WTO […]
In a recent update, Ukraine reports that its newly established Black Sea shipping corridor, operational since August, has witnessed significant activity, underscoring its importance in the region’s trade landscape. According to information from the Interfax-Ukraine news agency, a senior government official shared the latest developments. Since its inception, a total of 151 ships have […]