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Archive for the ‘News’ Category

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 […]

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 […]

Kazakhstan Expands GovTech Technology Exports, Forges New Partnerships

International Trade, Kazakhstan, News

February 13, 2024

Kazakhstan has made significant advancements in exporting its government technology (GovTech) solutions, as highlighted during the Digital Almaty 2024 forum held from Feb. 1-3, according to a report from Profit.kz on Feb. 13. The country signed several memorandums of understanding to extend its IT solutions for e-government development to various nations, with a particular focus […]

Indonesia Takes Proactive Step to Ensure Fair Trade Practices, Initiates WTO Dispute Over EU Fatty Acid Duties

Europe, Indonesia, International Trade, News

February 12, 2024

In a bid to address concerns over the European Union’s imposition of definitive anti-dumping duties on fatty acid imports from Indonesia, the Southeast Asian nation has taken a significant step by initiating WTO dispute consultations with the EU. The request for consultations, formally circulated to WTO members on February 12th, signals Indonesia’s commitment to upholding […]

Norway Commits NOK 20 million to Enhance Sustainable Growth in Least Developed Countries through EIF

International Trade, News

February 12, 2024

Norway has pledged its support to bolster sustainable economic growth in least developed countries (LDCs) by contributing NOK 20 million to the Enhanced Integrated Framework (EIF). This initial contribution of CHF 1.2 million marks the commencement of Norway’s commitment to the newly established EIF Interim Facility, designed to sustain the progress achieved by LDCs with […]

New Gas Transit Initiative in Southeast Europe to Boost Regional Energy Security

Energy Trade, Europe, News

February 12, 2024

Efforts to fortify energy security in southeastern and central Europe are gaining momentum with the launch of a collaborative project aimed at establishing a novel gas transit route. Dubbed the “Vertical Corridor,” this initiative seeks to mitigate the impact of disruptions in gas supply by providing alternative pathways for gas transportation.   The proposed corridor […]

Positive Outlook for UK-Philippines Trade Growth

International Trade, News, Philippines, United Kingdom

February 12, 2024

Recent reports reveal an encouraging trend in UK-Philippines bilateral trade, with total trade in goods and services hitting a record high of £3.0 billion. Chris Nelson, the Executive Director/Trustee of the British Chamber of Commerce Philippines (BCCP), expressed optimism regarding the ongoing positive trajectory of trade between the two nations.   In a recent interview, […]

South Korea’s Defense Exports Reach $14 Billion, Aiming for Global Leadership

International Trade, News, South Korea

February 12, 2024

South Korea has once again secured its position among the world’s top 10 defense exporters, with exports totaling approximately $14 billion in 2023. This marks the second consecutive year that South Korea has achieved this milestone, showcasing its growing influence in the global defense market. Anticipating continued demand, bolstered by substantial deals already in place, […]

Ukraine Forecasts Surge in Electricity Exports Amid Warm Weather

Energy Trade, News, Ukrain

February 12, 2024

Ukraine is expecting a notable uptick in electricity exports on Monday, with projected exports almost doubling in comparison to imports. This surge is attributed to unusually warm weather, as confirmed by the energy ministry.   Following the events of 2022, Ukraine temporarily halted significant electricity exports due to security concerns surrounding attacks on its power […]

Poland Strengthens Quality Assurance Measures for Ukrainian Grain Imports

Agricultural Trade, News, Poland, Ukrain

February 12, 2024

In a bid to uphold standards and safeguard domestic interests, Poland has announced stringent quality inspections on all grain imports from Ukraine. This decision, revealed by Deputy Agriculture Minister Michal Kolodziejczak, underscores Poland’s commitment to ensuring the integrity of its agricultural imports.   The move comes amidst ongoing nationwide protests by Polish farmers, who have […]

U.S. Treasury Secretary Embarks on Economic Victory Tour in Key Battleground States

Economic Development, News

February 12, 2024

U.S. Treasury Secretary Janet Yellen is set to embark on a series of visits to pivotal battleground states, underscoring the Biden administration’s economic achievements. Her itinerary includes stops in Pittsburgh on February 13th and Detroit on February 14th, where she will engage with elected officials and community leaders to highlight the administration’s initiatives aimed at […]

EU Agrees on Looser Fiscal Rules to Cut Debt, Boost Investments

Economic Policy, Europe, News

February 10, 2024

In a significant development, EU member states and Members of the European Parliament (MEPs) have reached a preliminary agreement to ease the bloc’s stringent fiscal regulations. This accord provides governments with additional flexibility in managing debt and offers incentives to bolster public investments, particularly in climate initiatives, industrial policies, and security measures.   The revision […]

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