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Archive for the ‘News’ Category

International Trade Council welcomes UK’s trade deal with Norway, Iceland, and Liechtenstein

News, Trade Agreements, United Kingdom

June 4, 2021

The International Trade Council (ITC) welcomes the recent post-Brexit trade agreement between the UK, Norway, Iceland, and Liechtenstein, which will greatly benefit trade between the four non-EU nations, already valued at £21.6bn. The UK’s international trade secretary, Liz Truss, said the deal would be “a major boost for our trade…while supporting jobs and prosperity in […]

International Trade Council commends the ‘candid and pragmatic’ meeting between US and China trade officials

International Trade, News, United States

May 27, 2021

The International Trade Council (ITC) welcomes the recent virtual meeting between the top trade negotiators of the United States and China. Katherine Tai, the US Trade Representative, and Chinese Vice Premier Liu He had “candid, pragmatic, and constructive exchanges with an attitude of equality and mutual respect” according to a statement released by the Chinese […]

International Trade Council concerned over China’s suspension of economic dialogue with Australia

Australia, China, News, Trade Relations

May 6, 2021

The International Trade Council has expressed concern over China’s decision to “indefinitely” suspend key economic dialogue with Australia, calling it the latest in a growing diplomatic rift between both countries. This move has escalated tensions between Australia and China, which have been on the decline since Australia called for a probe into the origins of […]

U.K. Future Generations Bill Proposal (Nov 2020) – Sustainability Requirements in Government Procurement (2021)

Supply Chain

May 1, 2021

U.K. Future Generations Bill Proposal (Nov 2020) – Sustainability Requirements in Government Procurement (2021)

The U.K. Future Generations Bill, introduced in draft form in November 2020, aims to weave long-term sustainability into the fabric of public policy. Although the bill was still making its way through Parliament during 2021, its draft guidance was already shaping how public procurement frameworks were evolving and how businesses, especially SMEs, were positioning themselves […]

U.S. National Defense Authorization Act (NDAA 2021) – Rare Earth Mineral Security (2021)

Supply Chain

April 15, 2021

U.S. National Defense Authorization Act (NDAA 2021) – Rare Earth Mineral Security (2021)

The 2021 National Defense Authorization Act marked another step in the ongoing attempt to untangle U.S. defense supply chains from strategic dependencies that could compromise national security. Nowhere is this more visible than in the field of rare earth elements (REEs). These critical minerals underpin everything from missile guidance systems to communications gear. And yet, […]

EU Taxonomy Regulation Delegated Acts (Apr 2021) – Supply Chain Alignment (2021)

Supply Chain

April 1, 2021

EU Taxonomy Regulation Delegated Acts (Apr 2021) – Supply Chain Alignment (2021)

The adoption of the EU Taxonomy Regulation’s delegated acts in April 2021 represented a turning point in how financial institutions are expected to engage with sustainability within their portfolios. While the taxonomy itself had been in force since mid-2020, these delegated acts added the critical operational detail necessary for firms to begin aligning their lending […]

International Trade Council reports $9.6bn of goods is held up each day due to the Suez Canal blockage

News, Transport and Logistics

March 26, 2021

The International Trade Council has reported that an estimated $9.6bn ( £7bn) worth of goods are held up every day due to the stranded Ever Given mega-container ship in the Suez Canal. The canal is a vital passageway between the East and West, with approximately 12% of total global trade moving through it. Shipping expert […]

Abu Dhabi investment fund has agreed to pay £800m into the UK life sciences sector

Foreign Investments, News, United Kingdom

March 24, 2021

Abu Dhabi Investment Fund Mubadala has committed to investing £800 million in the UK’s life sciences sector over five years, marking the first of what could be several billion pounds of investments in the UK. Abu Dhabi is also reportedly planning to invest heavily in British health, tech, green energy, and infrastructure. The exact size […]

British Exports to Ireland Suffer Significant Decline as Post-Brexit Trading Kicks Off

Economic Relations, Ireland, News

March 18, 2021

The Republic of Ireland recorded a 65% decrease in British imports, resulting in almost â‚ ¬1bn ( £856m) less of British goods in January 2021, in contrast to the same period last year, according to the Central Statistics Office of Ireland. The decline was even steeper for food imports, which plummeted by 75%, marking a […]

Canada’s Sustainable Jobs Act (Bill C-12, June 2020) – Supply Chain Skills Transparency (2021)

Supply Chain

March 15, 2021

Canada’s Sustainable Jobs Act (Bill C-12, June 2020) – Supply Chain Skills Transparency (2021)

The introduction of Canada’s Sustainable Jobs Act, known as Bill C-12, back in June 2020 set the stage for a legislative framework that aims to guide the country through the complexities of a just transition toward a low-carbon economy. While the bill is still pending passage, the expectations it has already generated are shaping decisions […]

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Important Disclaimer: The International Trade Council is not affiliated in any way with the International Trade Centre. The International Trade Centre is a joint subsidiary organ of the United Nations (acting through UNCTAD) and the World Trade Organization. The International Trade Council is an independent peak-body chamber of commerce acting on behalf of its member businesses and governments. If you are looking for the International Trade Centre, please visit www.intracen.org.