🎄 Season's Greetings from the International Trade Council! 🎄

Please note that our offices will be closed from 20th December 2024 and will reopen on 6th January 2025.

We wish you a joyful holiday season and a prosperous New Year! Thank you for your continued support, and we look forward to assisting you in 2025.

Warm regards,
The International Trade Council Team

Archive for the ‘Economic Development’ Category

South Korea’s trade-reliant economy started 2024 on a positive note as exports rose for the fourth consecutive month. The surge in sales to China and the significant increase in chip shipments, the largest in six years, contributed to this boost.   January’s trade data indicated the favorable momentum, complemented by a national factory activity survey […]

Economic Development, Indonesia, News

December 3, 2024

In the final quarter of the year, Indonesia’s economy demonstrated remarkable resilience, with a robust growth rate of 5.0% compared to the previous year. This encouraging performance was underpinned by strong domestic consumption, even in the face of challenges such as shrinking exports and declining commodity prices. These insights emerge from a recent Reuters poll […]

Economic Development, News, Thailand

October 30, 2024

Thailand’s Finance Ministry projects a 3% economic growth rate for 2025, fueled by strong performances in private consumption, exports, investment, and tourism. As Southeast Asia’s second-largest economy, Thailand anticipates a robust influx of 39 million foreign tourists next year, an increase from the expected 36 million arrivals in 2024, reinforcing the nation’s tourism sector as […]

The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) is excited to announce an anticipated 5% growth in semiconductor exports for 2025. This positive projection comes despite current challenges, highlighting the resilience of the sector and its critical role in global trade. SEIPI President Danilo C. Lachica shared insights during the 13th Arangkada […]

Economic Development, Germany, News

October 24, 2024

Germany is taking a proactive step to bolster trade opportunities for developing economies and least-developed countries (LDCs) by pledging EUR 150,000 (approximately CHF 140,000) in 2024 to the Standards and Trade Development Facility (STDF). This initiative aims to strengthen sanitary and phytosanitary (SPS) capacities, enabling these nations to access global and regional markets more effectively. […]

Economic Development, Malaysia, News

October 21, 2024

Malaysia’s economy is projected to have achieved a commendable 5.3% growth in the third quarter of 2024 compared to the same period last year, as per the official advance estimates released on Monday. While this represents a slight moderation from the impressive 5.9% growth rate seen in the previous quarter, it underscores the resilience of […]

Economic Development, News, Poland

October 2, 2024

Poland’s technology exports have experienced impressive growth for the twelfth year in a row, according to a recent report from the Polish Development Fund, a government-backed investment organization. In 2023, the technology sector accounted for 9.6% of the country’s total exports, a notable increase from 9.2% the previous year, reflecting a robust upward trend in […]

Deputy Minister of Trade, Industry, and Competition, Andrew Whitfield, has emphasized the critical importance of manufacturing and export expansion for South Africa’s economic development. Speaking during a recent Budget Vote debate in the National Council of Provinces (NCOP), Whitfield highlighted the need for a manufacturing-centered approach to enhance economic stability and job creation. Whitfield outlined […]

Economic Development, News

July 23, 2024

The International Trade Council has announced an exciting new development aimed at enhancing India’s agricultural export capabilities. A call for bids has been issued for a state-of-the-art processing and storage facility designed to improve the quality and extend the shelf life of agricultural products, with the goal of increasing export volumes. This advanced facility will […]

Economic Development, News

March 13, 2024

Korea experienced a significant boost in employment in February, adding nearly 330,000 new jobs, largely driven by increased opportunities for senior workers and expansion in the manufacturing sector amidst a rise in exports.   According to data released by Statistics Korea on Wednesday, the country recorded a total of 28.04 million employed individuals, marking a […]

In a recent statement, US Commerce Secretary Gina Raimondo emphasized Thailand’s potential to benefit significantly from the United States’ strategic move to diversify semiconductor production. Raimondo highlighted the readiness of American firms to amplify investments in the Southeast Asian nation, foreseeing promising prospects ahead.   The electrical and electronics industry stands as a pivotal sector […]

In a significant development, Polish Prime Minister Donald Tusk has successfully secured funds worth up to €137 billion from the European Union, marking a pivotal moment for Poland’s economic trajectory. This infusion of funds signifies the end of years-long tensions with Brussels over democratic standards, heralding a new era of economic growth for Central Europe’s […]