🎄 Season's Greetings from the International Trade Council! 🎄

Please note that our offices will be closed from 20th December 2024 and will reopen on 6th January 2025.

We wish you a joyful holiday season and a prosperous New Year! Thank you for your continued support, and we look forward to assisting you in 2025.

Warm regards,
The International Trade Council Team

Archive for the ‘News’ Category

News, Trade Policy

July 10, 2024

In a strategic move to streamline rice exports, the government is considering setting a fixed export duty of $100 per tonne on parboiled rice. This proposal aims to address issues of under-invoicing by exporters who currently face a 20% levy on this variety of rice.   A committee, named the Rice Federation Consulting Committee, has […]

Africa, International Trade, News

July 10, 2024

Nigeria has maintained its position as the fourth-largest contributor to intra-Africa trade in 2023, according to the Africa Trade Report 2024. The report indicates a slight decline in Nigeria’s intra-Africa trade volume, totaling $8 billion compared to $8.2 billion the previous year. Despite this decrease, Nigeria continues to account for a significant share of 4.2% […]

Indonesia, News

July 10, 2024

Indonesia’s Trade Ministry, under the leadership of Minister Zulkifli Hasan, has teamed up with the Indonesian Chamber of Commerce and Industry (Kadin) to launch a collaborative task force aimed at resolving discrepancies in import data. This joint effort comes in response to concerns over discrepancies between data reported by Statistics Indonesia (BPS) and exporting countries. […]

International Trade, News, Vietnam

July 10, 2024

Vietnam’s state budget received a substantial uplift from export-import activities, amounting to 200.46 trillion VND (8.35 billion USD) in the first half of 2024, reflecting an 8.4% increase from the previous year. This achievement, highlighted by the General Department of Vietnam Customs (GDVC) on July 9, underscores the nation’s strong trade performance amid a dynamic […]

A recent report by economist Graeme Crosbie, commissioned by a national financial institution, highlights a significant trend in Canada’s food consumption patterns. Over the past two decades, Canada has increasingly relied on imported food, reducing its reliance on domestically produced goods.   At the turn of the century, Canadian-produced food accounted for 80% of total […]

News, Trade and Export, Vietnam

July 9, 2024

Vietnam’s southeastern region, comprising Dong Nai and Binh Duong provinces, key gateways to Ho Chi Minh City, continues to drive the nation’s economic growth with impressive export performance in the first five months of this year. According to official data, Binh Duong province achieved nearly $13.8 billion in exports, marking a 13% increase compared to […]

China, International Trade, News

July 9, 2024

Despite a decade of generous preferential trade benefits, China has not emerged as a significant export destination for Bangladesh. In contrast, India and Japan have proven to be valuable export markets for Bangladeshi goods over the years.   According to data from the Export Promotion Bureau (EPB), Bangladesh’s exports to Japan reached $1.69 billion in […]

International Trade, News

July 9, 2024

A major seaport in Bangladesh has experienced significant growth in export-import trade during the fiscal year 2023-24 compared to the previous fiscal year. In FY2022-23, the port saw the arrival of 827 ships. This number rose to 846 ships in FY2023-24, surpassing the target of 840 ships by 6. This data was revealed in a […]

Egypt, International Trade, News

July 8, 2024

The Cabinet’s Information and Decision Support Center has revealed a positive development in Egypt’s non-petroleum trade deficit for the first quarter of 2024, marking a 22.9% decrease to $6.4 billion compared to approximately $8.3 billion in Q1 2023. This improvement is attributed to increased non-petroleum exports coupled with reduced non-petroleum imports. During Q1 2024, Egypt’s […]

Bangladesh’s Food Minister, Sadhan Chandra Majumder, announced that the country will focus on exporting rice instead of importing it in the future.   “In the past two years, our government has refrained from importing rice, and this year, there is no necessity for rice imports,” he stated during the inauguration of the Agriculture Technology Fair-2024 […]

Reykjavik, Iceland – The 14th Icelandic Fisheries Exhibition, known as IceFish, is set to captivate industry professionals and enthusiasts alike from September 18-20, 2024, at the Smárinn, Fifan Halls in Kópavogur, Iceland. This biennial event serves as a cornerstone for Iceland’s thriving seafood and aquaculture sectors, showcasing cutting-edge technologies, innovative products, and sustainable practices shaping […]

Indonesia’s Minister of Trade, Zulkifli Hasan (Zulhas), has clarified that the upcoming increase in anti-dumping import duties will not solely target products from China but will extend to imports from all countries.   Addressing the press during his visit to the Rendang Asese Center in Padang, West Sumatra, on Sunday, July 7, 2024, Zulhas emphasized […]