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Archive for the ‘News’ Category

Unveiling the Latest Updates on the 7th China International Import Expo

China, International Trade, News

August 2, 2024

With less than 100 days remaining, the latest updates for the 7th China International Import Expo (CIIE) have been unveiled. Set to take place from November 5th to 10th, 2024, in Shanghai, preparations for the event are progressing smoothly with significant advancements already made. The previous edition of the CIIE in 2023 saw a large […]

Türkiye Launches Free Trade Agreement Talks with GCC

International Trade, News, Turkey

August 1, 2024

Türkiye’s Trade Ministry has announced the start of negotiations for a Free Trade Agreement (FTA) with the Gulf Cooperation Council (GCC). The first round of talks was held in Ankara, marking a key step in this major trade initiative. In March, the Trade Minister and the GCC Secretary-General signed an agreement to kick off […]

South Africa’s Strategy for Economic Growth Focuses on Manufacturing and Export Expansion

Economic Development, News, South Africa

August 1, 2024

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 […]

Afghanistan’s Trade Data Reveals $1.8 Billion in Exports and $8 Billion in Imports, Signaling Trade Imbalance

Afghanistan, International Trade, News

August 1, 2024

On July 31st, Afghanistan’s Ministry of Industry and Commerce issued a report detailing the country’s trade performance for the past year. The figures show $1.8 billion in exports and over $8 billion in imports, highlighting a substantial trade imbalance and a high reliance on foreign goods and services. The report noted increases in exports […]

July Exports Surge 13.9% to $57.49 Billion, Achieving Trade Surplus

News, Trade Performance

August 1, 2024

In July, exports surged by 13.9% year-on-year, reaching $57.49 billion, while imports rose by 10.5% to $53.88 billion, resulting in a trade surplus of $3.61 billion. This performance marks the second-highest July figure on record and continues a strong upward trend that has lasted for ten consecutive months. The notable export growth was driven […]

Policies to Expand Foreign Trade Boost Competitiveness

China, International Trade, News

August 1, 2024

As external demand and supportive policies improve, China’s trade in goods reached a new high in the first half of 2024, with overall foreign trade exceeding 21 trillion yuan ($2.9 trillion), and export growth in June of 10.7 percent year-on-year, exceeding all expectations. The improving external demand and accelerated development of new business forms […]

Australian Wine Exports Hit AU$2.2 Billion Amid Diverse Market Trends

Australia, International Trade, News

July 31, 2024

The International Trade Council reports that Australian wine exports have reached a significant AU$2.2 billion, reflecting both positive developments and ongoing challenges in the market. This increase is largely attributed to a resurgence in exports to mainland China, where volumes jumped from 1 million litres to 33 million litres and the value surged by AU$392 […]

China Remains Papua New Guinea’s Leading Export Market, Reports Minister

China, International Trade, News

July 31, 2024

China remains the foremost export market for Papua New Guinea (PNG). During a recent groundbreaking ceremony for the Sea Park Development in Port Moresby, the Minister for International Trade and Investment emphasized China’s critical role in PNG’s export economy. The Minister highlighted the robust trade relationship between the two nations, noting, “China is the […]

Egypt’s Non-Oil Trade Deficit Falls to $15.9 Billion in First Half of 2024

Egypt, International Trade, News

July 31, 2024

Egypt’s non-oil trade deficit for the first half of 2024 has decreased to $15.9 billion. This marks a 16% improvement from the $18.9 billion deficit recorded during the same period in 2023. During the initial six months of 2024, Egypt saw a notable 9.8% increase in merchandise exports, reaching $19.6 billion. In contrast, imports […]

New Report Aims to Boost SME Exporting

International Trade, News

July 31, 2024

The International Trade Council highlights a new initiative designed to invigorate exporting activities among small and medium-sized enterprises (SMEs). A recent report proposes measures to increase the number of small business exporters. An SME Export Taskforce was formed to tackle the low percentage of small firms—currently only 10%—engaged in international trade. The taskforce identified several […]

Thailand Set to Export 8.2 Million Tonnes of Rice Amid Robust Global Demand

International Trade, News, Thailand

July 31, 2024

Thailand is on track to export 8.2 million tonnes of rice this year, an increase from the previously forecasted 7.5 million tonnes. This surge is attributed to strong demand from key markets and a weakening baht, according to the Commerce Ministry. The Director-General of the Foreign Trade Department noted that rice exports in the […]

Pakistan Seeks New Export Opportunities in Afghanistan and Central Asia

International Trade, News, Pakistan

July 30, 2024

Pakistan is exploring new export markets in Afghanistan and Central Asia, according to recent statements from Commerce Minister Jam Kamal Khan. The minister emphasized that addressing existing “political and connectivity challenges” could significantly enhance trade opportunities with these regions. Traditionally, Pakistan’s exports have been focused on Western economies, China, and the Gulf Cooperation Council […]

Dhaka Secures Approval for Mango Exports to China

Bangladesh, China, International Trade, News

July 30, 2024

Dhaka has reached a notable achievement with the recent approval to export fresh mangoes to China, marking a significant expansion into a market that spent $172 billion on fruit imports in the first half of 2021. This green light from China’s General Administration of Customs comes through ‘Announcement No. 94 of 2024,’ following the […]

India Approves Export of Non-Basmati White Rice to Namibia

Africa, India, International Trade, News

July 30, 2024

In a significant move, India has approved the export of 1,000 tonnes of non-basmati white rice to Namibia. This decision, announced on Monday, allows the export through a designated national cooperative despite a general ban on non-basmati white rice exports since July 20, 2023. The export ban was originally implemented to boost domestic supply. […]

Historic Garlic Import Through Mongla Port

Bangladesh, International Trade, News

July 30, 2024

In a historic first, 58 tonnes of garlic were imported through Mongla Sea Port on Sunday, as announced by the Deputy Director of Communication of the Mongla Port Authority in Dhaka on Monday. A Singapore-flagged vessel docked at the port’s jetty, unloading a total of 229 TEU containers. Among these, two 40-foot containers were […]

Trade Balance Shows €80 Million Surplus in May

International Trade, News

July 30, 2024

The trade balance posted a surplus of €80 million in May 2024, according to the latest international trade in goods statistics released by Finnish Customs on Monday. Between January and May 2024, the trade balance accumulated a deficit of €2.0 billion. The overall trade surplus by commodity group, including products from the mechanical and chemical […]

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