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Archive for the ‘News’ Category

Secretary Raimondo Strengthens U.S.-Brazil Bilateral Ties in Meeting with Vice President Alckmin

International Trade, News, United States

December 18, 2023

Gina M. Raimondo, U.S. Secretary of Commerce, held a significant meeting with Brazil’s Vice President and Minister of Development, Industry, Trade, and Services, Geraldo Alckmin, during her inaugural official visit to Brazil. This meeting serves to further bolster the bilateral and commercial relations between the United States and Brazil. Building upon the meetings between […]

Progress Made in WTO Dispute Settlement Reform Talks, Finish Line in Sight

International Trade, News

December 18, 2023

Informal discussions aimed at reforming the WTO’s dispute settlement rules are approaching a conclusion, with members being informed that the “finish line is within reach.” These talks were the focus of the WTO’s Dispute Settlement Body (DSB) meeting held on December 18th. Marco Molina, Deputy Permanent Representative of Guatemala to the WTO, reported on […]

U.S. Senator Seeks Reversal of Treasury Exemption Allowing Chinese Minerals in EVs

News, Trade Policy, United States

December 18, 2023

In a bid to address concerns over increased reliance on China, Senator Joe Manchin, Chair of the Senate Energy and Natural Resources Committee, is calling for Congress to vote on reversing recent Treasury Department guidance related to electric vehicle (EV) tax credits. This guidance, issued earlier this month, has the potential to make it easier […]

OECD Calls on Brazil to Reevaluate Spending and Reduce Trade Barriers

News, Trade Policy

December 18, 2023

The Organization for Economic Cooperation and Development (OECD) has urged Brazil to take steps to enhance the potential growth of its economy by addressing mandatory spending and trade barriers, according to its latest Economic Survey of Brazil. The OECD’s report pointed out that Brazil has made little progress in implementing the organization’s advice from […]

WTO Young Professionals Program Concludes with Remarkable Achievements

International Trade, News

December 18, 2023

The 2023 edition of the World Trade Organization (WTO) Young Professionals Programme (YPP) reached its inspiring conclusion, as WTO Director-General Ngozi Okonjo-Iweala extended her heartfelt congratulations and best wishes to the 17 talented individuals who participated in this year’s cohort. The farewell ceremony, a celebratory event held to mark the official closure of the program, […]

Japan-ASEAN Summit Strengthens Security and Economic Cooperation Amid Regional Tensions

International Trade, Japan, News

December 17, 2023

Leaders from Japan and the Association of Southeast Asian Nations (ASEAN) gathered in Tokyo for a special summit on Sunday, marking the 50th anniversary of official Japan-ASEAN ties. The summit adopted a joint vision highlighting security and economic cooperation while upholding the rule of law, especially in the context of rising tensions in regional waters […]

New Zealand Prime Minister to Strengthen Bilateral Ties with Australia

Australia, International Trade, New Zealand, News

December 17, 2023

In a significant diplomatic move, New Zealand Prime Minister Christopher Luxon has announced his upcoming visit to Sydney on Wednesday to meet with Australian Prime Minister Anthony Albanese. This visit underscores the commitment of both nations to enhancing their security and economic cooperation. Luxon, who took office as prime minister earlier this month, […]

Japan Extends $2.8 Million Maritime Security Assistance to Malaysia

International Trade, Japan, Malaysia, News

December 16, 2023

In a significant move aimed at enhancing regional security and cooperation, Japan and Malaysia have officially sealed a security assistance deal, underlining their commitment to bolstering maritime security in the face of evolving challenges, including regional dynamics related to China. On Saturday, the foreign ministers of Japan and Malaysia signed the agreement, which includes […]

Australia Anticipates Resolution of Chinese Wine Tariffs in Early 2024

Australia, International Trade, News

December 16, 2023

Australia’s government expressed confidence on Sunday that the punitive tariffs imposed by China on Australian wine in 2021 would be removed early next year, providing a significant boost to Australian winemakers. Trade Minister Don Farrell conveyed his optimism in an interview with Sky News television, stating, “I would be very confident that early in […]

Indonesia and Japan Forge Closer Economic Ties by Removing Trade Barriers

Indonesia, International Trade, Japan, News

December 16, 2023

In a significant development aimed at fostering stronger economic ties, Indonesia and Japan have successfully concluded negotiations on protocols to enhance their bilateral economic agreements, as announced by Indonesia’s Foreign Minister Retno Marsudi on Saturday. Under these agreements, Japan has committed to granting greater market access to Indonesian products. This includes the removal of […]

WTO General Council Receives Updates and Approves Budget Increase

International Trade, News

December 15, 2023

In a recent meeting of the World Trade Organization’s (WTO) General Council held from December 13 to 15, members were briefed by the Chair of the 13th Ministerial Conference (MC13), H.E. Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade of the United Arab Emirates, regarding preparations for MC13 scheduled for […]

Indonesia’s Trade Surplus Expected to Narrow to $3 Billion in November

Economic Development, Indonesia, News

December 14, 2023

Indonesia’s trade surplus is anticipated to shrink in November as exports are poised to contract once again, while imports are expected to show slight growth, according to a recent Reuters poll conducted with 20 economists between December 8 and December 14. The poll projects a trade surplus of $3.05 billion for November, down from […]

U.S. Treasury Secretary Janet Yellen Promotes Cooperation with China on Climate and Financial Markets

China, Geopolitics, News, United States

December 14, 2023

U.S. Treasury Secretary Janet Yellen has outlined her key priorities for managing U.S.-China relations in the coming year, which include plans for a second visit to China and efforts to accelerate collaboration on climate risks and financial markets. In remarks prepared for a dinner hosted by the U.S.-China Business Council, Yellen emphasized that the […]

Tesla Receives $153 Million Incentives from Mexican State for Factory

Mexico, News, Sustainability

December 14, 2023

In a significant development, the Nuevo Leon state in Mexico has granted Tesla $153 million in incentives as the electric car manufacturer gears up to establish a new factory. This announcement was made by the state government in an official statement on Thursday. The incentives, valued at 2.627 billion pesos ($152.86 million), received approval […]

Regional Workshop in Kuwait Highlights Synergy Between Trade and Public Health

Economic Development, Kuwait, News

December 14, 2023

The Regional Trade and Public Health Workshop held in Kuwait from December 10 to 14 brought together 28 senior officials specializing in health, intellectual property, and trade from WTO Arab and Middle East member countries and the Gulf Cooperation Council (GCC). The workshop, hosted by the International Monetary Fund Middle East Center for Economics and […]

WTO and IFC Collaborative Publication Highlights the Urgency to Boost Trade Finance in the Mekong Region

International Trade, News

December 13, 2023

On December 13, the Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, and the Managing Director of the International Finance Corporation (IFC), Makhtar Diop, unveiled a jointly published report titled “Trade Finance in the Mekong Region.” The report underscores the critical need to expand trade finance in the Mekong-3 countries, namely Cambodia, Lao People’s […]

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