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Archive for the ‘International Trade’ Category

Australia Launches $1.3 Billion Fund to Enhance Trade with Southeast Asia

Australia, International Trade, News, Southeast Asia

March 5, 2024

Australia has announced plans to establish a significant finance facility worth A$2 billion ($1.3 billion) aimed at boosting trade and investment in Southeast Asia, demonstrating its commitment to strengthening ties with the ASEAN bloc, which stands as the country’s second-largest two-way trading partner.   Treasurer Jim Chalmers emphasized the importance of the region, stating, “Our […]

French Exports to Libya Soar to 301 million Euro in 2023, Marking Highest Since 2015

International Trade, News

March 4, 2024

In a notable development, the French embassy in Tripoli revealed today that French exports to Libya surged to â‚ ¬301 million (US three hundred twenty-five million) in 2023, marking their highest level since 2015. This substantial increase represents a remarkable growth of 36 percent compared to the previous year.   According to reports from the […]

Australia’s Maritime Security Initiative Elevates Trade Confidence in Southeast Asia

Australia, International Trade, News, Southeast Asia

March 3, 2024

Australia’s recent announcement of increased funding for maritime security initiatives in collaboration with ASEAN countries holds significant implications for regional trade dynamics.   During a crucial summit with the Southeast Asian bloc, Australia unveiled a substantial investment of A$64 million ($41.8 million) over four years, including A$40 million in new funding. This infusion of resources […]

China’s Used Vehicle Exports Surge, Expanding Global Market Reach

China, International Trade, News

March 3, 2024

In a noteworthy development, China has seen a remarkable uptick in the export of used cars over the past five years, as reported by the People’s Daily Online.   Since the initiation of a pilot program in 2019 designed to facilitate the export of used automobiles, China has experienced a staggering growth of over 250 […]

U.S. Trade Chief Offers Insights on WTO Negotiations

International Trade, News, United States

February 28, 2024

U.S. Trade Representative Katherine Tai provided an update on the ongoing negotiations at the World Trade Organization (WTO), indicating that while an agreement on reforming dispute settlement appeals was not expected this week, progress was evident, and the atmosphere remained constructive.   The impasse in the WTO’s dispute settlement system, attributed to the U.S. blocking […]

Sweden Supports Trade Growth in Least Developed Countries with SEK 27 Million Contribution

International Trade, News

February 28, 2024

Sweden has pledged SEK 27 million (equivalent to approximately CHF 2.3 million) to bolster economic growth in least developed countries (LDCs) through the Enhanced Integrated Framework (EIF). This funding will aid LDCs in maintaining their economic momentum during the transitional phase between the end of Phase Two of the EIF and the establishment of a […]

U.S. Lawmaker Leading Delegation from China Committee Visits Taiwan to Bolster Trade Ties

China, International Trade, News, United States

February 21, 2024

U.S. Representative Mike Gallagher, Chair of the House of Representatives select committee on China, arrived in Taiwan with a delegation of lawmakers to enhance trade relations. The visit aims to engage with Taiwanese officials, including President Tsai Ing-wen and President-elect Lai Ching-te, to discuss opportunities for economic cooperation.   Gallagher, a vocal advocate for Taiwan […]

Haiti’s Acceptance of Fisheries Subsidies Agreement Bolsters Trade Relations

International Trade, News

February 21, 2024

Haiti has formally accepted the Agreement on Fisheries Subsidies, marking a crucial milestone in global efforts to promote ocean sustainability. Ambassador Justin Viard presented Haiti’s instrument of acceptance to Director-General Ngozi Okonjo-Iweala, who praised Haiti’s commitment to this landmark agreement.   Expressing her warm welcome to Haiti’s acceptance, DG Okonjo-Iweala emphasized the significance of Haiti’s […]

Japan’s Exports to China Soar, Reinforcing Strong Economic Bonds

International Trade, Japan, News

February 21, 2024

In January, Japan experienced a remarkable surge in exports to China, marking a 29.2 percent increase year-on-year, according to reports from Japanese media outlet Nikkei. This surge played a significant role in Japan’s overall export growth for the month, underscoring the robust economic ties between the two nations.   The substantial rise in exports reflects […]

Japan’s Exports Exceed Expectations, Boosting Economic Outlook

International Trade, Japan, News

February 21, 2024

In a positive development for Japan’s economy, January’s export figures surpassed expectations, driven by strong shipments of automobiles and automotive parts to the United States, along with increased demand for chip-making equipment from China. According to Ministry of Finance data released on Wednesday, exports grew by 11.9% compared to the same period last year, outpacing […]

Australian Wine Makers Forge Strategic Path to Revive Chinese Market Through Hong Kong Shipments

Australia, International Trade, News

February 16, 2024

Australian wine makers are placing their bets on the anticipated reopening of the Chinese market by shipping substantial quantities of wine to Hong Kong. Industry insiders and trade data reveal that millions of bottles of Australian wine have been dispatched to Hong Kong, reflecting a strategic move in anticipation of China lifting tariffs on Australian […]

Korea Boosts Developing Countries’ Trade Capacities with Generous Contribution to Global Trust Fund

International Trade, News

February 16, 2024

In a commendable display of commitment to fostering inclusive global trade, the Republic of Korea has allocated KRW 390 million (equivalent to CHF 260,000) to the Global Trust Fund for capacity-building initiatives in 2024. This significant contribution aims to empower developing economies, enabling them to play a more active role in the global marketplace.   […]

Positive Growth in Indian Merchandise Exports Despite Global Challenges

India, International Trade, News

February 16, 2024

In a recent announcement from New Delhi, India’s merchandise exports have showcased a commendable 3.12% increase to $36.92 billion in January, marking the second consecutive month of positive growth. Despite prevailing global headwinds, this upward trend reflects the resilience of India’s export sector.   This encouraging growth extends beyond merchandise exports, with overall exports, encompassing […]

U.S. Trade Representative Advocates Incremental Reform Approach at WTO Meeting

International Trade, News, United States

February 14, 2024

U.S. Trade Representative Katherine Tai has outlined a pragmatic approach to the upcoming World Trade Organization (WTO) Ministerial Conference in Abu Dhabi. With a focus on incremental yet meaningful reform, Tai aims to sustain the momentum for change within the trade body.   In anticipation of the conference from February 26 to 29, Tai emphasized […]

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