Archive for the ‘Europe’ Category

European Commission Advocates Enhanced Financial Support and Market Access for Prospective EU Members

September 28, 2023

The International Trade Council commends the recent announcement from the European Commission, expressing its intention to recommend bolstered financial support and market access to countries aspiring for EU membership. This move aims to expedite their accession preparations, stated EU Commissioner for Enlargement, Oliver Varhelyi. Currently, Albania, Bosnia and Herzegovina, Moldova, Montenegro, North Macedonia, Serbia, […]

EU Trade Commissioner Encourages Balanced Trade Relations with China Amid Concerns Over Ukraine Conflict

Europe, News, Trade Agreements, Ukrain

September 25, 2023

The European Union’s trade commissioner, Valdis Dombrovskis, has emphasized the need for a more balanced economic relationship with China while highlighting the EU’s substantial trade deficit with the country, which amounted to nearly 400 billion euros ($425 billion). Speaking at China’s Tsinghua University, Dombrovskis also expressed concerns about how China’s stance on the war in […]

Central European Nations Announce New Regulations on Ukrainian Grain Imports

Europe, International Trade and Agriculture, News

September 16, 2023

Key Highlights: European Commission concludes no extension of prior grain ban. Poland, Slovakia, and Hungary decide on specific regulations pertaining to Ukrainian grain. Ukraine remains a pivotal player in global grain markets despite logistic challenges post-Russian conflict. Following a decision by the European Commission not to extend its earlier ban on Ukrainian grain imports, […]

France and Germany Unite to Enhance Industrial Transformation and Support EU Probe into Chinese EVs

Europe, International Trade, News

September 14, 2023

Geneva — In a resolute display of unity, France and Germany have reaffirmed their commitment to bolstering cooperation on industrial transformation and defending the European Union (EU) against unlawful trade practices. In response to the EU Commission’s announcement of an investigation into Chinese state support for electric vehicles (EVs), the Economy Ministers of both countries, Robert […]

Hungary, in Coordination with Neighboring Countries, Signals National Ban on Ukrainian Grain Imports Beyond September 15

Europe, International Trade, News

September 14, 2023

In an effort to safeguard their markets, Hungary, in cooperation with neighboring countries Romania, Slovakia, and Bulgaria, has signaled its intent to impose a national ban on Ukrainian grain imports should the European Union (EU) fail to extend the existing ban set to expire on September 15, as announced by Hungary’s Farm Minister. The […]

Thai-EU FTA Negotiations Commence with Two-Year Timeline

Europe, News, Thailand, Trade Relations

September 13, 2023

Negotiations for a free-trade agreement (FTA) between Thailand and the European Union (EU), commonly referred to as the Thai-EU FTA, are set to commence next week with the aim of finalizing the agreement within a two-year timeframe. The Department of Trade Negotiations, operating under the Thai Commerce Ministry, will oversee these negotiations. Auramon Supthaweethum, […]

EU Deforestation Rules Raise Concerns About Global Trade Impact, Says ITC Chief

Environmental Trade Regulations, Europe, News

August 20, 2023

The European Union’s (EU) new rules aimed at curbing deforestation have raised concerns over their potential “catastrophic” impact on global trade if not implemented with consideration for small producers and developing nations, according to the head of the International Trade Centre (ITC). Pamela Coke-Hamilton, the Executive Director of the ITC, a collaborative agency of […]

International Trade Council Addresses EU Trade Deficit with China

China, Europe, News, Trade Relations

August 8, 2023

The International Trade Council addresses the escalating concerns pertaining to the European Union’s trade deficit with China, which approached a notable €400 billion last year. EU Trade Commissioner, Valdis Dombrovskis, communicated to media outlets about the remarkable deficit, highlighting that it has magnified twofold in a mere span of two years. This accentuates the […]

Judgment on EU Foreign Direct Investment Screening: A Milestone for European Investment

Economic Relations, Europe, News

August 1, 2023

The International Trade Council acknowledges the recent decision by the Court of Justice of the European Union (CJEU) dated 13 July 2023 on the European Union Foreign Direct Investment Screening Regulation, in place since October 2020. In the landmark case, Xella Magyarország, the CJEU has clarified that EU-based acquisitions, irrespective of the eventual ownership […]

International Trade Council Celebrates the Initiation of Scoping Exercise for EU-Philippines Free Trade Agreement

Europe, News, Philippines, Trade Agreements

July 31, 2023

The International Trade Council warmly welcomes the announcement by the EU and the Philippines about their commitment to delve into the potential relaunch of negotiations for a holistic, contemporary, and balanced Free Trade Agreement (FTA), underpinned by sustainability. Both entities will soon initiate a bilateral ‘scoping process’ to gauge the mutual understanding they share concerning […]

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.