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Archive for the ‘News’ Category

Korea Boosts Developing Countries’ Trade Capacities with Generous Contribution to Global Trust Fund

International Trade, News

February 16, 2024

In a commendable display of commitment to fostering inclusive global trade, the Republic of Korea has allocated KRW 390 million (equivalent to CHF 260,000) to the Global Trust Fund for capacity-building initiatives in 2024. This significant contribution aims to empower developing economies, enabling them to play a more active role in the global marketplace.   […]

The Belgian Prime Minister proposes EU bonds to strengthen defense capabilities

Europe, Geopolitics, News

February 16, 2024

Belgian Prime Minister Alexander De Croo has put forth a proactive suggestion aimed at bolstering defense capabilities within the European Union (EU). His proposal involves the issuance of joint EU bonds to support increased military expenditure, a move that has garnered attention amid rising tensions fueled by Russia’s actions in Ukraine and uncertainties surrounding NATO’s […]

Positive Growth in Indian Merchandise Exports Despite Global Challenges

India, International Trade, News

February 16, 2024

In a recent announcement from New Delhi, India’s merchandise exports have showcased a commendable 3.12% increase to $36.92 billion in January, marking the second consecutive month of positive growth. Despite prevailing global headwinds, this upward trend reflects the resilience of India’s export sector.   This encouraging growth extends beyond merchandise exports, with overall exports, encompassing […]

Poland and UK Urge U.S. Congress to Support Ukraine Aid Package

International Relations, News, Poland, United Kingdom, United States

February 15, 2024

During a recent joint news conference, Polish Foreign Minister Radoslaw Sikorski and British Foreign Secretary David Cameron made a unified appeal to the U.S. Congress to adopt an aid package for Ukraine. The aid package, aimed at providing essential funding, is crucial for supporting Ukraine’s ongoing efforts.   U.S. President Joe Biden and other top […]

Singapore’s January Exports Surge Beats Expectations

International Relations, News, Singapore

February 15, 2024

Official data released on Friday revealed a robust growth in Singapore’s non-oil domestic exports, registering a notable increase of 16.8% compared to the same period last year. This growth, outperforming expectations, was supported by gains in both electronic and non-electronic products.   The substantial rise in exports in January, exceeding the forecasted 5.4% growth from […]

U.S. Import Prices See Significant Uptick in January, Indicating Economic Momentum

Global Trade, News, United States

February 15, 2024

In a promising development, U.S. import prices have experienced a notable increase in January, reflecting positive momentum in the economy. The surge, driven primarily by higher costs for petroleum and various goods, suggests resilience in the market despite challenges.   Recent data released by the Labor Department’s Bureau of Labor Statistics reveals that import prices […]

South Korea Unveils $57 Billion Corporate Financial Support Program

Economic Policy, News, South Korea

February 14, 2024

In a bid to bolster key sectors and alleviate challenges faced by small businesses amidst high interest rates, South Korea has introduced a substantial financial support program totaling 75.9 trillion won ($56.97 billion).   The initiative encompasses various measures, including 15 trillion won in affordable policy loans from a state-run bank designated for pivotal industries […]

U.S. Trade Representative Advocates Incremental Reform Approach at WTO Meeting

International Trade, News, United States

February 14, 2024

U.S. Trade Representative Katherine Tai has outlined a pragmatic approach to the upcoming World Trade Organization (WTO) Ministerial Conference in Abu Dhabi. With a focus on incremental yet meaningful reform, Tai aims to sustain the momentum for change within the trade body.   In anticipation of the conference from February 26 to 29, Tai emphasized […]

WTO Director-General Optimistic About Progress for MC13

International Trade, News

February 14, 2024

Addressing the WTO’s General Council on February 14th, Director-General Ngozi Okonjo-Iweala expressed confidence in the prospects of securing outcomes for the upcoming 13th Ministerial Conference (MC13) in Abu Dhabi. Despite acknowledging the challenges faced by members, she emphasized determination to achieve success. “We are going to get it done,” she affirmed.   While Dr. Okonjo-Iweala […]

Germany’s 3.5 Billion Euro Boost to Green Hydrogen Import Program Signals International Energy Transition

Germany, International Trade, News

February 14, 2024

Germany’s commitment to green hydrogen receives a significant boost as the Federal Ministry for Economic Affairs and Climate Action (BMWK) earmarks €3.53 billion for the H2Global Foundation’s hydrogen importing program. This allocation is poised to fuel future auctions for renewable hydrogen and its derivatives.   H2Global, a subsidiary of BMWK, has announced the receipt of […]

Ukraine’s Agri-Exports Foster Positive Trade Relations with EU Amidst Challenges

Europe, International Trade, News, Ukrain

February 14, 2024

Ukraine’s agricultural exports have emerged as a vital component of its economic relationship with the European Union, with recent developments showcasing resilience amidst challenges. Despite concerns voiced by neighboring EU countries such as Bulgaria, Hungary, Poland, Romania, and Slovakia regarding market disruptions, Ukraine’s trade representative reassured stakeholders of minimal negative impact.   Deputy Economy Minister […]

Cambodia’s International Trade Surges by 16.7% in January 2024

Cambodia, International Trade, News

February 14, 2024

According to an official report released on Monday, Cambodia’s foreign trade volume witnessed a significant increase, reaching $4.05 billion in January 2024, marking a notable uptick of 16.7% compared to the same period last year.   The report from the General Department of Customs and Excise highlights that Cambodia’s total exports in January amounted to […]

India and UAE Forge Pact on Transcontinental Trade Route

India, International Trade, News, United Arab Emirates

February 13, 2024

In a landmark development, India and the United Arab Emirates (UAE) have solidified their commitment to a transformative trade corridor that promises to connect Europe with India via strategic routes across the Middle East, leveraging both sea and rail networks. The accord, unveiled during Prime Minister Narendra Modi’s official visit to the Gulf nation, underscores […]

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