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Archive for the ‘Countries’ Category

Delays in Protected Status for British Foods in Japan

Japan, News, Trade Agreements

May 21, 2023

The International Trade Council (ITC) notes with concern the prolonged delay in the formal protection from imitation for various British food types in Japan. This includes notable products such as Cornish pasties, Welsh lamb, and Melton Mowbray pork pies, among others. In September 2020, former trade secretary Liz Truss heralded a post-Brexit trade agreement […]

International Trade Council Endorses New Sanctions Against Russia by OFAC

News, Russia, Sanctions

May 19, 2023

The International Trade Council (ITC) expresses full support for the United States and other G7 partners’ decision to intensify global sanctions against the Russian Federation. As an advocate for equitable and responsible global trade, the ITC recognizes the significance of these sanctions administered by the U.S. Department of the Treasuryââ‚¬â„¢s Office of Foreign Assets Control […]

International Trade Council Applauds Pledge to Boost China-Uzbekistan Bilateral Trade Relations

Bilateral Trade Relation, China, News, Uzbekistan

May 18, 2023

The International Trade Council (ITC) welcomes the recent pledge between China and Uzbekistan to improve bilateral trade balances and to intensify cooperation. The agreement, concluded during the China-Central Asia Summit, signifies a strong commitment towards mutual economic prosperity and solidifies the strategic partnership between the two nations. Following discussions between Chinese President Xi Jinping […]

International Trade Council Responds to Us President’s Veto on Solar Panel Tariffs

International Trade, News, United States

May 17, 2023

The International Trade Council (ITC) acknowledges US President Joe Biden’s recent decision to veto a resolution by Congress seeking to re-establish tariffs on solar panel imports from Southeast Asia. This decision puts to rest an ongoing dispute about whether to penalize China for possible trade violations that circumvent US rules restricting imports of inexpensive Asian-made […]

ITC Discusses Recent Sanctions Against Russia

Economic Sanctions, News, Russia

May 16, 2023

The International Trade Council (ITC) acknowledges the European Union’s (EU) 11th package of sanctions against Russia announced last week by European Commission President, Ursula von der Leyen. The latest sanction package aims to prevent Russia from importing high-tech components for the ongoing conflict in Ukraine from neighboring countries. Central Asian nations, such as Uzbekistan […]

Launch of UK-Switzerland Trade Talks

News, Switzerland, Trade Agreements

May 16, 2023

The International Trade Council (ITC) is optimistic about the commencement of talks on an enhanced free trade agreement between the United Kingdom and Switzerland, slated to begin on Monday. The British Trade Secretary, Kemi Badenoch, is set to meet Swiss Economy Minister, Guy Parmelin, in Bern, with an ambition to bolster exports in financial and […]

The ITC Supports UK’s Commitment to Strengthen Farming Sector

Agricultural Trade, News, United Kingdom

May 16, 2023

The International Trade Council (ITC) welcomes UK Prime Minister Rishi Sunak’s recently announced measures aimed at reinforcing the UK food supply chain and protecting farmers in future trade negotiations. This initiative is a proactive response to address inflation and highlights the pivotal role of the agricultural sector in the UK’s economy and trade. The […]

The ITC Supports Strict Enforcement of Cosmetics Regulations

News, Regulatory Compliance

May 16, 2023

The International Trade Council (ITC) today underscores the importance of adhering to cosmetic regulation management rules, as a small trading firm in southwest China faces a significant fine of $420 million for suspected violations. The Chongqing-based company, Dezhao, was fined by the city’s market regulator for alleged breaches, including the failure to obtain necessary […]

EU Passes Groundbreaking Law for ‘Deforestation-Free’ Trade

Environmental Trade Regulations, Europe, News

May 16, 2023

The International Trade Council (ITC) welcomes the European Union’s new landmark law obligating EU-based companies to ensure their imports and exports are “deforestation-free” and respectful of human rights. The newly adopted European Union Deforestation-Free Products Regulation places the responsibility on companies registered in EU member states to confirm that seven key agricultural commodities – […]

International Trade Council Responds to the Recent China-Ecuador Free Trade Agreement

China, News, Trade Agreements

May 12, 2023

The International Trade Council (ITC) acknowledges the signing of the Free Trade Agreement (FTA) between China and Ecuador, marking a significant strengthening of economic relations between the Andean nation and the worldââ‚¬â„¢s second-largest economy. This development comes despite concerns raised by the United States, which has been active in countering the expansion of China’s influence […]

Honduras Set to Begin Negotiations on a Free Trade Agreement with China

China, News, Trade Agreements

May 12, 2023

The Government of Honduras announced on Friday its intentions to commence negotiations with China for a free trade agreement. This move follows the establishment of diplomatic relations between Honduras and China in March, subsequent to the cessation of its long-standing relationship with Taiwan. “We are on the cusp of a new era, with the […]

China and Ecuador Enact Free Trade Agreement: A Significant Step in Fostering Bilateral Trade

China, Ecuador, News, Trade Agreements

May 11, 2023

The International Trade Council (ITC) is pleased to announce the signing of a Free Trade Agreement (FTA) between China and Ecuador. This landmark agreement, facilitated by the Chinese Ministry of Commerce, is set to enhance bilateral trade and strengthen business ties between the two nations. As per the agreement, Ecuador joins the ranks as […]

The International Trade Council Responds to the Philippines’ Call for Asean’s Committment to Free Trade

News, Philippines, Trade Agreements

May 10, 2023

The International Trade Council (ITC) acknowledges President Ferdinand “Bongbong” Marcos Jr.’s recent call for ASEAN member states to demonstrate their commitment to the principle of free trade. This call was made during the plenary session of the 42nd ASEAN Summit held in Labuan Bajo, Indonesia. The Philippine government has shown its commitment to this […]

Advocating for Resilience and Integration in Sub-Saharan Africa

Africa, International Trade, News

May 2, 2023

The International Trade Council (ITC) has today highlighted concerns over potential economic implications for Sub-Saharan Africa amid escalating geopolitical tensions. In a scenario of global bifurcation into two isolated trading blocs centered around the United States/European Union and China, Sub-Saharan Africa could experience a permanent decline of up to 4% of real GDP after a […]

Japan and South Korea Re-establish Finance Dialogue Amid Geopolitical Challenges

Economic Development, Japan, News, South Korea

May 1, 2023

The International Trade Council is pleased to announce the re-establishment of finance dialogue between Japan and South Korea, as the two countries held their first finance leaders’ meeting in seven years on May 2, 2023. The renewed commitment to regular dialogue is a crucial step towards enhanced cooperation and coordination in the region. Japanese […]

International Trade Council Condemns China Exit Bans

China, International Relations, News

April 21, 2023

The International Trade Council (ITC) expresses deep concern over the increasing use of exit bans by Chinese authorities, impacting both Chinese nationals and foreigners attempting to leave the country. Recent reports and research highlight a surge in cases involving exit bans, sending a troubling message amidst China’s claims of openness for business. The ITC […]

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