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Archive for the ‘International Trade’ Category

EU Adapts Inspection Frequencies for Imported Food Products, Balancing Rigor and Compliance

Europe, International Trade, News

January 24, 2024

The European Commission has introduced changes to the frequency of inspections for various imported food products, signaling a nuanced approach to safety measures. The revised legislation, which governs official controls and special conditions for non-animal origin food and feed entering Europe, undergoes adjustments every six months.   Informed by data from the Rapid Alert System […]

South Korean Water Purifiers Break Export Records in 2023, Poised for Global Expansion

International Trade, News, South Korea

January 24, 2024

In a significant milestone, South Korean water purifiers achieved record-breaking exports in 2023, propelled by their exceptional quality, design, and service. With a growing global demand for clean and healthy water, Korean water purifiers are poised to accelerate their expansion into international markets.   Data from the Korea Trade-Investment Promotion Agency (KOTRA) revealed that South […]

German President and Business Delegation Seek Opportunities in Vietnam for Collaboration and Investment

Germany, International Trade, News, Vietnam

January 23, 2024

A prominent German business delegation, featuring key players in tunnel machines, wind farms, and industrial supplies, is accompanying President Frank-Walter Steinmeier on a visit to Vietnam starting Tuesday. This visit aligns with Berlin’s strategy to diversify economic ties, emphasizing Vietnam’s significance as a partner to broaden activities beyond China. German companies have already invested over […]

EU’s 6-Billion Euro Growth Plan Poised to Transform Western Balkans

Europe, International Trade, News

January 22, 2024

In a groundbreaking development, the European Union’s 6-billion-euro growth plan for the Western Balkans is being hailed as a potential game-changer that could lead to a doubling of regional economies in the coming decade, according to an EU official. Leaders from the six Western Balkan countries, including Albania, Bosnia, Kosovo, Montenegro, North Macedonia, and Serbia, […]

Sri Lanka and Thailand Forge Historic Free Trade Alliance, Boosting Bilateral Economic Prospects

International Trade, News, Sri Lanka, Thailand

January 22, 2024

In a groundbreaking economic development, Sri Lanka and Thailand are gearing up to ink a transformative Free Trade Agreement (FTA) on February 3rd, signaling a strategic move poised to elevate bilateral trade to an impressive US$ 1.5 billion. The signing ceremony, graced by the visit of Thailand’s Prime Minister, Srettha Thavisin, is anticipated to strengthen […]

U.S. and China Foster Economic Dialogue with Commitment to Regular Meetings

China, International Trade, News, United States

January 19, 2024

In a positive development, officials from the U.S. Treasury and Chinese finance authorities concluded their meetings in Beijing this week, affirming their commitment to ongoing regular engagements, as announced by the Treasury Department on Friday.   The statement highlighted that U.S. officials expressed Secretary Janet Yellen’s anticipation of a return visit to China at an […]

Indonesia Surprises Markets with Robust Trade Surplus as Imports Take Unexpected Dip

Indonesia, International Trade, News

January 16, 2024

In a twist of events, Indonesia’s trade dynamics defied expectations in December, revealing a notable trade surplus driven by an unexpected drop in imports. While export figures declined by 5.8% year-on-year (YoY), the real surprise came from a 3.8% YoY contraction in imports, in stark contrast to the anticipated 0.2% gain.   The decline in […]

Georgian Dream Leader Strengthens Bilateral Ties in Key China Visit

China, International Trade, News

January 15, 2024

In a strategic move to enhance diplomatic relations, Irakli Kobakhidze, the leader of Georgia’s ruling party and chairman of the governing Georgian Dream bloc, embarked on a six-day visit to China on Monday. Initial reports from Georgian media highlighted his significant meeting with the head of the Chinese Communist Party’s International Department.   Kobakhidze stressed […]

China and Switzerland Strengthen Trade Ties with New Declaration

China, International Trade, News, Switzerland

January 15, 2024

In a notable effort to strengthen their partnership, China and Switzerland have formalized a joint declaration, signifying a mutual commitment to deepen collaboration. Premier Li Qiang, the most senior Chinese official to visit Switzerland since President Xi Jinping’s 2017 trip, engaged in discussions with Swiss President Viola Amherd and a distinguished Chinese delegation ahead of […]

China-Switzerland Breakthroughs in Free Trade and Visa Policies Strengthen Bilateral Ties

China, International Trade, News, Switzerland

January 15, 2024

In a significant diplomatic stride, China and Switzerland have expedited discussions to enhance their e   On Monday, Bern and Beijing reached a consensus to promptly initiate formal negotiations aimed at expanding their free trade agreement, which has been in effect since 2013. Notably, China has also committed to granting visa-free entry for Swiss citizens, […]

China Breaks Records with Crude Oil Imports in 2023

China, International Trade, News

January 12, 2024

China’s annual imports of crude oil reached an unprecedented high in 2023, marking a significant recovery in fuel demand from the post-pandemic decline. According to data from the General Administration of Customs (GACC), China imported 563.99 million metric tonnes of oil last year, equivalent to an average of 11.28 million barrels per day, representing an […]

Romania Solidifies Position as Ukraine’s Primary Alternative Export Gateway for Grains

International Trade, News, Ukrain

January 11, 2024

In a testament to the enduring collaboration between Ukraine and Romania, the former’s largest alternative export route for grains and goods is set to remain the Black Sea port of Constanta, according to a senior U.S. State Department official. Despite challenges posed by Russia’s invasion in February 2022, Ukraine has successfully utilized Romania’s port after […]

Malaysia and Singapore Forge Groundbreaking Partnership to Develop Special Economic Zone, Boosting International Trade Growth

International Trade, Malaysia, News, Singapore

January 11, 2024

In a groundbreaking collaboration, Malaysia and Singapore have officially come together to embark on the joint development of a Special Economic Zone (SEZ) situated in the southern Malaysian state of Johor. This strategic partnership, announced on Thursday, is geared towards fostering increased investments and facilitating the seamless movement of goods and people between these two […]

Brazil’s Lula and Japan’s Kishida Explore Potential Mercosur Trade Accord

Brazil, International Trade, Japan, News

January 10, 2024

In a recent development, Brazil’s President Luiz Inacio Lula da Silva engaged in discussions with Japanese Prime Minister Fumio Kishida, exploring the prospects of a trade agreement between Japan and the South American bloc Mercosur, as reported by the Brazilian government.   During a phone conversation, Lula and Kishida delved into the reinforcement of trade […]

Vietnam’s Ministry of Industry and Trade Unveils Strategies to Boost Exports to European and American Markets

International Trade, News, Vietnam

January 10, 2024

The Ministry of Industry and Trade (MoIT) is gearing up to implement major initiatives aimed at boosting exports to the European and American markets in the upcoming year, as announced by Ta Hoang Linh, Director of the European-American Market Department under the MoIT.   To maximize advantages and address challenges in both exports and imports, […]

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