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Archive for the ‘News’ Category

Japan Achieves Record Current Account Surplus for Second Consecutive Month

Japan, News

January 11, 2024

In a remarkable economic feat, Japan has reported a second consecutive month of record current account surpluses, showcasing its resilience in the face of global economic challenges. The November data revealed a surplus of 1.93 trillion yen ($13.31 billion), marking a historic high for the month and underscoring Japan’s economic prowess.   The positive development […]

Indonesia and Vietnam Forge Closer Ties with Emphasis on South China Sea Security and Electric Vehicles

Indonesia, International Relations, News, Vietnam

January 11, 2024

In a display of strengthened diplomatic and economic bonds, Indonesia’s President Joko Widodo, commonly known as Jokowi, visited Hanoi and engaged in talks with Vietnamese President Vo Van Thuong. The leaders emphasized key aspects of cooperation, including security concerns in the South China Sea and corporate investments in Indonesia, particularly in the electric vehicle (EV) […]

Taiwan’s December Exports Surpass Expectations, Led by Strong Demand from the US

News, Taiwan, Technology, United States

January 11, 2024

Taiwan experienced a notable surge in exports in December, outperforming expectations primarily due to increased demand for high-tech products from the United States. The finance ministry reported a substantial 11.8% year-on-year growth, reaching $39.94 billion. This exceeded the 4.9% growth forecast in a Reuters poll and marked a significant improvement from the 3.8% gain observed […]

U.S. Treasury Secretary Yellen Assures Support for Egypt Amidst IMF Loan Discussions

Economic Development, Egypt, News, United States

January 11, 2024

In a meeting with Egyptian authorities in Washington, U.S. Treasury Secretary Janet Yellen has reaffirmed the United States’ commitment to supporting Egypt’s economic reforms. The discussions, which took place on Tuesday, coincided with talks about expanding Egypt’s existing $3 billion loan program with the International Monetary Fund (IMF).   The Egyptian delegation, comprising the finance […]

Malaysia and Singapore Forge Groundbreaking Partnership to Develop Special Economic Zone, Boosting International Trade Growth

International Trade, Malaysia, News, Singapore

January 11, 2024

In a groundbreaking collaboration, Malaysia and Singapore have officially come together to embark on the joint development of a Special Economic Zone (SEZ) situated in the southern Malaysian state of Johor. This strategic partnership, announced on Thursday, is geared towards fostering increased investments and facilitating the seamless movement of goods and people between these two […]

Brazil’s Lula and Japan’s Kishida Explore Potential Mercosur Trade Accord

Brazil, International Trade, Japan, News

January 10, 2024

In a recent development, Brazil’s President Luiz Inacio Lula da Silva engaged in discussions with Japanese Prime Minister Fumio Kishida, exploring the prospects of a trade agreement between Japan and the South American bloc Mercosur, as reported by the Brazilian government.   During a phone conversation, Lula and Kishida delved into the reinforcement of trade […]

Global Surge in Demand for Energy-Related Critical Minerals Spurs Trade Challenges

News, Sustainability

January 10, 2024

In recent years, the escalating demand for critical minerals like cobalt, copper, lithium, nickel, and rare earths, essential for clean energy technologies, has given rise to significant challenges in global supply chains. These minerals play a pivotal role in producing clean energy goods, from electric cars to wind turbines. The annual trade in energy-related critical […]

Romanian Port Achieves Record Grain Exports Boosted by Ukrainian Shipments

Agricultural Trade, News, Ukrain

January 10, 2024

In a notable surge, the Port of Constanta in Romania achieved record grain exports in 2023, reaching 36 million tonnes, marking a remarkable 50% increase compared to the previous year, according to the port authority. The Black Sea-based port experienced this substantial growth, with Ukrainian shipments playing a significant role, contributing nearly 40% to the […]

Vietnam’s Ministry of Industry and Trade Unveils Strategies to Boost Exports to European and American Markets

International Trade, News, Vietnam

January 10, 2024

The Ministry of Industry and Trade (MoIT) is gearing up to implement major initiatives aimed at boosting exports to the European and American markets in the upcoming year, as announced by Ta Hoang Linh, Director of the European-American Market Department under the MoIT.   To maximize advantages and address challenges in both exports and imports, […]

Renowned Scholar Cheong In-kyo Appointed as South Korea’s New Trade Minister

News, South Korea, Trade Policy

January 10, 2024

Cheong In-kyo, a distinguished scholar in global trade, has been appointed as Korea’s new trade minister, marking a significant development in the realm of international commerce. With a strong background in economic security and extensive experience in crucial free trade agreement negotiations, Cheong is poised to make a notable impact in his new role.   […]

Maldives Seeks Closer Economic Ties with China Amidst Shifting Alliances

China, Geopolitics, News

January 9, 2024

In a bid to strengthen economic partnerships, Maldivian President Mohamed Muizzu is fostering ties with China, marking a notable shift away from traditional ally India. The “Invest Maldives” forum held in Fuzhou, a key city on China’s maritime Silk Road, showcased the President’s commitment to bolstering bilateral relations.   President Muizzu, who assumed office in […]

Comoros Gains Consensus Support for WTO Accession at Historic MC13

Global Trade, News

January 9, 2024

In a significant milestone for global trade, members of the World Trade Organization (WTO) reached a consensus on January 9, 2024, regarding the terms of Comoros’ WTO membership. The agreement, achieved ad referendum, marks a crucial step toward the formal adoption of Comoros as the newest member of the organization. This achievement positions Comoros as […]

UK and India Forge Ahead with Comprehensive FTA Negotiations, Set to Address Key Trade Issues

India, International Trade, News, United Kingdom

January 9, 2024

The United Kingdom and India remain committed to pursuing a comprehensive and ambitious Free Trade Agreement (FTA), as confirmed by an official statement. The two nations are gearing up for the 14th round of negotiations, scheduled to commence this week, with a focus on intricate matters concerning goods, services, and investment.   Several critical topics […]

Australia Implements Streamlined Dairy Import Rules, Facilitating Market Access for Philippine Exporters

Agricultural Trade, Australia, News, Philippines

January 8, 2024

In a recent development, the Department of Trade and Industry (DTI) has issued a reminder to local exporters of dairy products, urging them to familiarize themselves with Australia’s updated regulations to ensure compliance and sustained market access. According to the advisory, Australia revised its import regulations for dairy in November of the previous year. Notably, […]

Vietnam Sees Expanding Opportunities for Fruit and Vegetable Exports to China

Agricultural Trade, China, News, Vietnam

January 8, 2024

In a promising development for Vietnamese agriculture, the Department of Agriculture is actively working towards expanding the export of agricultural products, particularly fruits and vegetables, to the Chinese market. Several protocols have been signed between Vietnam and China, paving the way for increased official exports of various produce.   At the close of 2023, Vietnam […]

U.S. Container Imports Maintain Steady Growth in December, Global Shipping Report Reveals

Logistics, News, United States

January 8, 2024

In a positive turn of events, U.S. container imports exhibited a nearly 10% increase in December compared to the same month the previous year, signaling a robust finish to 2023, according to the latest Global Shipping Report by Descartes Systems Group. The report indicated that import volumes continued to outpace pre-pandemic levels through the peak […]

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