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Archive for the ‘News’ Category

UK’s Focus on Free Trade and Strengthening EU Ties Vital for Economic Growth

International Trade and Economic, News, United Kingdom

November 14, 2024

The United Kingdom is encouraged to prioritize free trade and work towards strengthening its relationship with the European Union as a key strategy to enhance its economic growth, according to Bank of England Governor Andrew Bailey. In a recent speech, Bailey emphasized the critical importance of maintaining open and accessible trade policies amidst a global […]

Indonesia’s Trade Performance Exceeds Expectations, Strong Export Growth Drives Economic Momentum

Indonesia, International Trade and Economic, News

November 14, 2024

Indonesia has posted impressive trade results for October 2024, showcasing strong growth in both exports and imports, which highlights the resilience of the nation’s trade sector amid global market dynamics.   Exports from Indonesia reached $24.41 billion in October, growing by 10.25% year-on-year—significantly surpassing market expectations of a 3.84% increase. This marks the highest export […]

U.S. Pork Exports to Mexico Set for Record High, Strengthening North American Trade Ties

Agricultural Exports, News, United States

November 14, 2024

U.S. pork exports to Mexico are on track for a record-setting year, underscoring the strength of trade partnerships across North America and the rising demand for quality agricultural products. According to the U.S. Department of Agriculture (USDA) and U.S. Meat Export Federation (USMEF), September saw 91,492 metric tons (mt) of U.S. pork exported to Mexico—a […]

India’s Punjab Boosts Trade with Litchi Exports and Horticulture Growth

Agricultural Exports, India, News

November 13, 2024

India’s Punjab is making notable progress in expanding its agricultural trade, with a special focus on horticulture and crop diversification to enhance the economic stability of its farmers. Under the leadership of Chief Minister Bhagwant Singh Mann, the state has been actively promoting the cultivation of high-value fruits, vegetables, and flowers. A standout achievement is […]

Philippines-South Korea Free Trade Agreement Set to Propel Apparel Exports, Strengthening Trade and Economic Growth

News, Philippines, Trade Agreements

November 13, 2024

The Philippines is preparing for a remarkable boost in its apparel export industry, with a new Free Trade Agreement (FTA) with South Korea projected to push export values to $1 billion by 2025. Expected to be effective in the first quarter of next year, the agreement offers the Philippines access to South Korea’s vibrant, zero-tariff […]

Japan’s Energy Subsidies Boost to Empower Trade and Household Stability as Fuel Costs Rise

International Trade, Japan, News

November 13, 2024

Japan is preparing to reinstate subsidies for electricity and gas prices from January, a proactive measure aimed at supporting households and energizing the broader economy in response to rising fuel costs. Expected to continue through March, these subsidies are poised to not only ease financial pressures on consumers but also stimulate economic activity—a move that […]

China Trade Council Requests Clarification on U.S. Tech Investment Restrictions

China, Economic Relations, News, United States

November 12, 2024

The International Trade Council reports that China’s international trade council has formally approached the United States, urging a careful review of rules that either prohibit or restrict U.S. investments in China’s technology sector, as revealed by state television on Friday.   Last month, U.S. President Joe Biden signed an executive order that imposes bans or […]

Kazakhstan Increases Agricultural Exports with EU Support, Boosting Trade Potential

Agricultural Exports, Kazakhstan, News

November 12, 2024

Kazakhstan’s agricultural sector is poised for expansion, thanks to the European Investment Bank’s (EIB) recently approved €465 million fund aimed at supporting non-EU countries in sustainable agriculture. This funding is part of the Pan-European Agricultural Programme, a €3 billion initiative designed to enhance financing for agribusiness, promote climate-resilient practices, and back young farmers across regions, […]

Philippines Expands Coconut Oil Exports to Australia, Strengthening Trade Ties

Agricultural Exports, News, Philippines

November 12, 2024

The Philippines is set to significantly boost its coconut oil exports to Australia, tapping into the rising demand for high-quality, natural ingredients in Australian food, beverage, and cosmetic sectors. This expansion, driven by Ares Merchants Philippines Inc. (AMPI), will add an estimated 30,000 metric tons of coconut oil annually to Australia’s imports, a move expected […]

International Trade Council Anticipates Accelerated Progress on Australia-EU Free Trade Agreement

Australia, Europe, Trade Agreements

November 11, 2024

In a significant development for international trade, Australian Prime Minister Anthony Albanese expressed optimism about the prospects of finalizing a free trade agreement with the European Union this year. The negotiations, which had encountered obstacles in July, appear to be gaining momentum.   The talks between Australia and the European Union, a bloc representing over […]

The EU and Republic of Korea Collaborate to Streamline Trade in Agricultural Products

Europe, International Trade

November 11, 2024

Trade in agricultural products between the European Union (EU) and South Korea is set to become more efficient with the recent agreement on digitalizing procedures.   The European Commission and South Korea have signed an administrative arrangement that focuses on electronic health certification and harmonizing certificates for the export of agricultural goods from the EU […]

South Korea Advocates for Clarity in US Chip Trade Regulations, Underscoring Global Industry Impact

International Trade, South Korea, United States

November 11, 2024

In a significant move reflecting the intricate dynamics of global trade relations, South Korea called upon the United States to provide clarity and resolution pertaining to uncertainties in U.S. export controls within the semiconductor sector, as well as conditions surrounding subsidies for chip investment. This request, articulated by Industry Minister Bang Moon-kyu during a meeting […]

India Poised for Continued Growth, Offering Stability in Trade and Investment

India, International Trade and Investments, News

November 11, 2024

India’s financial markets are emerging as a key destination for investors, offering a strong and stable environment for trade and investment. With its robust economic growth, strategic participation in global supply chains, and growing role in international trade, India is proving to be a resilient and attractive market in the face of global uncertainty.   […]

Japan Announces $65 Billion Investment to Drive Domestic Chip and AI Industries, Boosting Trade Opportunities

International Trade and Investments, Japan, News

November 11, 2024

Japan is set to energize its semiconductor and artificial intelligence (AI) sectors with a transformative $65 billion investment plan, designed to strengthen both its domestic technology capabilities and its position in global trade. Announced by Prime Minister Shigeru Ishiba, the initiative will offer substantial subsidies and financial incentives to support the growth of Japan’s high-tech […]

China and Indonesia Strengthen Strategic Ties with New Cooperation Deals

China, Indonesia, International Trade and Economic Relations, News

November 9, 2024

In a significant step towards enhancing bilateral ties, Chinese President Xi Jinping and Indonesian President Prabowo Subianto have signed multiple cooperation agreements aimed at deepening collaboration in key sectors. These agreements, which include areas such as water conservation, maritime resources, and mining, signal a strengthened partnership between the two nations, with long-term trade and economic […]

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