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APEC Urged to Lead in Reshaping WTO’s Future at MC13

International Trade, News

November 16, 2023

In a recent address at the 2023 Asia Pacific Economic Cooperation (APEC) Leaders Meeting in San Francisco, Deputy Director-General Angela Ellard emphasized the crucial role of the World Trade Organization (WTO) in building a more open, dynamic, resilient, inclusive, and peaceful Asia-Pacific community. She called upon APEC to take the lead in reforming the multilateral […]

Indo-Pacific Partners Reach Agreement on Clean Energy and Anti-Corruption Measures

Indonesia, International Trade, News

November 16, 2023

In a significant development during the Asia Pacific Economic Cooperation (APEC) leaders’ summit in San Francisco, countries belonging to the U.S.-led Indo-Pacific Economic Framework (IPEF) announced consensus on two key pillars of the initiative. These pillars revolve around cooperation in clean energy and anti-corruption measures. Additionally, ministers from the 14 IPEF nations formally signed the […]

Mexico and China Strengthen Ties, Pledge to Boost Trade and Investment

China, International Trade, Mexico, News

November 16, 2023

During a meeting on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, leaders of Mexico and China reaffirmed their commitment to enhancing their bilateral relationship. They pledged to work together to strengthen ties, combat illegal drug trafficking, and promote increased trade and investment between their nations.   Chinese President Xi Jinping […]

Uzbekistan Accelerates WTO Accession Talks, Showcases Strong Commitment

News, Trade Agreements, Uzbekistan

November 16, 2023

In a significant move to expedite its World Trade Organization (WTO) accession, Uzbekistan has injected fresh vigor into the negotiation process, as highlighted in the recent meeting of the Working Party on the Accession of Uzbekistan on November 16. The Uzbek Government’s enhanced efforts, marked by reinforced domestic institutions, earned praises from WTO members.   […]

Japan and China Forge Path to Trade Cooperation in Effort to Mend Relations

China, Japan, News, Trade Relations

November 15, 2023

In a significant development, Japanese and Chinese trade ministers have come to an agreement to establish a framework for discussions on export controls, signaling a renewed commitment to economic cooperation following a period of strained relations between the two neighboring nations.   Japanese Trade Minister Yasutoshi Nishimura expressed optimism about the potential of these talks […]

Euro Zone Industrial Production Softens While Trade Surplus Persists in September

Manufacturing, News

November 15, 2023

In September, Euro zone industrial production experienced a decline, aligning closely with anticipated figures, as the output of consumer goods registered a notable drop during the month.   According to Eurostat, the European Union’s statistics office, industrial production in the 20 countries sharing the euro currency contracted by 1.1% on a month-on-month basis in September, […]

Trans-Pacific Trade Pact Welcomes Prospective New Members at APEC Summit

News, Trade Agreements

November 15, 2023

Trade ministers from the 12 member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have expressed their openness to welcoming additional countries into the pact, provided they meet the agreement’s rigorous standards. This announcement came during their meeting on the sidelines of the Asia Pacific Economic Cooperation (APEC) summit held in San […]

UK’s Badenoch to Participate in CPTPP Meeting at APEC Summit

News, Trade Agreements, United Kingdom

November 14, 2023

British Business and Trade Secretary Kemi Badenoch is set to attend a meeting of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco. This marks the United Kingdom’s inaugural participation in a CPTPP meeting following its accession to the trade bloc in […]

Mexican President to Engage with Chinese and U.S. Counterparts at APEC Summit

Bilateral Trade Relation, China, News, United States

November 14, 2023

In a significant diplomatic development, Mexican President Andres Manuel Lopez Obrador is slated to meet Chinese President Xi Jinping during the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco. This high-level meeting signifies a rare international trip for President Lopez Obrador, who has predominantly focused on domestic matters.   Additionally, the Mexican President is scheduled […]

Youth Trade Summit Spotlights Youth Contribution to Trade and Gender Discourse

International Trade, News

November 14, 2023

The Youth Trade Summit on Gender, held at the WTO on November 13-14, has set out to amplify the voices of young individuals, emphasizing their insights into women’s economic empowerment. In an unprecedented move, the WTO has orchestrated this groundbreaking event, gathering young participants from around the world, recognizing their pivotal role in shaping nations. […]

UK and Florida Strengthen Trade Ties, Eye Broader US Deal

News, Trade Agreements, United Kingdom

November 14, 2023

In a significant move to bolster trade and investment ties, British Business and Trade Secretary Kemi Badenoch signed a memorandum of understanding with Florida Governor Ron DeSantis. This collaborative effort aims to enhance business relations between the United Kingdom and Florida, the fourth largest U.S. state. Badenoch expressed optimism about ongoing negotiations with the U.S. […]

Australia Anticipates Easing of Trade Barriers with China

Australia, China, International Trade, News

November 14, 2023

Australia expressed optimism on the potential removal of all remaining trade barriers with China by the upcoming month, highlighting improving relations between the two significant trading partners. This positive outlook follows Prime Minister Anthony Albanese’s recent visit to Beijing.   The Albanese administration has been proactive in mending Australia’s relationship with China since taking office […]

Spain Demonstrates Commitment to Sustainable Fisheries with EUR 2 million Contribution to WTO Fund

News, Sustainable Trade

November 13, 2023

In a significant step towards supporting global efforts to ensure the sustainability of our oceans and combat overfishing, Spain has announced a generous contribution of EUR 2 million (approximately CHF 1.9 million) to the WTO Fisheries Funding Mechanism. The donation aims to assist developing and least-developed country members in implementing the historic Agreement on Fisheries […]

U.S. Initiates Purchase of 1.2 million Barrels of Oil for Strategic Petroleum Reserve

Geopolitics, News, United States

November 13, 2023

The United States has unveiled plans to acquire 1.2 million barrels of oil, aiming to replenish its Strategic Petroleum Reserve (SPR). The announcement was made by the Department of Energy on Monday.   According to the department, the intended purchase involves sourcing oil at an average price of $77.57 per barrel from two companies, following […]

Indo-Pacific Trade Talks Require Further Deliberation

News, Trade Agreements

November 13, 2023

U.S. Treasury Secretary Janet Yellen revealed on Monday that negotiations pertaining to the trade section of the Indo-Pacific Economic Framework (IPEF) will necessitate additional work, marking a setback for the Biden administration’s aspirations of announcing substantial progress this week.   Addressing a news conference, Yellen acknowledged “very substantial progress” across three of the four key […]

Singapore and Malaysia Forge Ahead with Joint Special Economic Zone in Johor State

Bilateral Trade Relation, Malaysia, News, Singapore

November 13, 2023

Singapore and Malaysia have embarked on a collaborative endeavor to establish a Special Economic Zone (SEZ) in Malaysia’s Johor state, strategically located adjacent to the Singaporean border. This initiative aims to fortify economic ties and bolster connectivity between the two nations, especially in the face of global economic challenges. Malaysia has set a tight deadline […]

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