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Archive for the ‘News’ Category

Japanâ€™s Contribution to WTO Empowers Developing Economies in Trade Capacity Building

International Trade, Japan, News

March 6, 2024

In a commitment to bolster inclusive global trade, Japan pledges EUR 115,000 (about CHF 108,000) to the WTO’s Global Trust Fund for 2024, aiming to support training programs for government officials from developing economies and least-developed countries (LDCs). This contribution underscores Japan’s dedication to enhancing the trade-related capabilities of developing nations, enabling them to […]

Australia Launches $1.3 Billion Fund to Enhance Trade with Southeast Asia

Australia, International Trade, News, Southeast Asia

March 5, 2024

Australia has announced plans to establish a significant finance facility worth A$2 billion ($1.3 billion) aimed at boosting trade and investment in Southeast Asia, demonstrating its commitment to strengthening ties with the ASEAN bloc, which stands as the country’s second-largest two-way trading partner. Treasurer Jim Chalmers emphasized the importance of the region, stating, “Our […]

Indian Government Lifts Onion Export Ban to Boost Trade Relations with Bangladesh and UAE

Agricultural Trade, India, News, United Kingdom

March 5, 2024

In a recent development, the Indian government has amended its ban on onion exports, allowing the shipment of 64,400 tonnes to the UAE and Bangladesh. A senior official from the federal ministry of commerce confirmed this decision, stating that it was made at the “request of friendly countries.” The ban on onion exports was […]

Vietnamâ€™s Shrimp Exports Expected to Surpass $4 Billion in 2024

Agricultural Trade, News, Vietnam

March 5, 2024

Vietnam’s shrimp export industry is projected to see a notable increase of 10-15 percent this year, reaching a turnover of $4-4.3 billion, as reported by the Vietnam News Agency on Monday, citing the Vietnam Association of Seafood Exporters and Producers. The United States and China are anticipated to maintain their positions as the top […]

German Exports Surge in January, Boosting International Trade Prospects

Economic Development, Germany, News

March 5, 2024

Germany experienced a notable surge in exports at the beginning of the year, driven by increased demand from European Union nations and China, according to data released by the federal statistics office. In January, exports soared by 6.3% compared to the previous month, surpassing expectations of a 1.5% increase projected in a Reuters poll. […]

Vietnam and Australia Set to Strengthen Energy and Mineral Cooperation with New MOU

Australia, Energy Trade, News, Vietnam

March 5, 2024

Vietnam and Australia are poised to enhance their collaboration in the energy and mineral sectors with the upcoming signing of a memorandum of understanding (MOU), announced the Vietnamese Ministry of Industry and Trade during Prime Minister Pham Minh Chinh’s visit to Melbourne. The MOU aims to bolster cooperation between the two nations in energy […]

Malaysia Awaits $5 Billion Investment from Australian Firms

Australia, Malaysia, News

March 5, 2024

Malaysia Anticipates $5 Billion Investment from Australian Companies. Malaysia is poised to welcome investments totaling up to 24.5 billion ringgit ($5.17 billion) from Australian firms, according to Prime Minister Anwar Ibrahim, as reported by state news agency Bernama on Wednesday. Leading the investment charge are Australian data center operators AirTrunk and NextDC, with plans […]

EU Officials Propose Measures to Strengthen Defense Industry Cooperation

Europe, Geopolitics, News

March 5, 2024

Top European Union officials unveiled plans on Tuesday to enhance collaboration within the continent’s defense industry, citing the need for increased joint procurement of weapons among member countries. The European Commission, the EU’s executive body, proposed allocating 1.5 billion euros ($1.63 billion) to incentivize collective purchases from European firms and foster the development of new […]

WTO Advanced Global Workshop Opens Applications for Government Procurement Training

International Relations, News

March 5, 2024

Government officials from WTO member countries and observer nations eligible for technical assistance are encouraged to apply for the 2024 Advanced Global Workshop on the Agreement on Government Procurement (GPA) 2012. Scheduled from April 29 to May 3, 2024, the workshop aims to enhance participants’ understanding of key issues related to government procurement, international trade, […]

Egypt Considering Further Expansion of Suez Canal to Boost Shipping Capacity

Egypt, International Relations, News

March 4, 2024

In a bid to enhance its pivotal role in global trade, Egypt is contemplating additional expansions to the Suez Canal, aiming to extend and finalize a second channel of the waterway. The head of the canal announced this development on Monday, emphasizing its potential to accommodate higher volumes of shipping and prevent disruptions that could […]

Philippines and Cambodia Forge Stronger Rice Trade Partnership

Agricultural Trade, Cambodia, News, Philippines

March 4, 2024

In a bid to bolster their rice trade amidst the challenges posed by the current El NiÃ±o phenomenon, the Philippines and Cambodia have pledged to strengthen their collaboration in agricultural trade, particularly focusing on rice. During a meeting between President Ferdinand Marcos Jr. and Cambodian Prime Minister Hun Manet on March 4, 2024, on […]

South Africa Launches Safeguard Investigation on Flat-Rolled Steel Products

March 4, 2024

South Africa has initiated a safeguard investigation into certain flat-rolled products of iron, non-alloy steel, or other alloy steel, as reported to the WTO’s Committee on Safeguards on February 29, 2024. In this notification, South Africa outlined the procedure for interested parties to participate in the investigation. Interested parties are required to make themselves […]

Vietnamâ€™s Fruit and Vegetable Exports Surge by 38%

Agricultural Trade, News, Vietnam

March 4, 2024

Vietnam’s fruit and vegetable exports have witnessed a remarkable increase of 38%, totaling approximately $749.7 million in the first two months of the year. Projections indicate a promising outlook for the industry, with expectations of reaching a peak near $7 billion by the end of the year. The sector’s growth momentum is anticipated to persist […]

U.S. Corn and Soy Crucial for Boosting Red Meat Exports

Agricultural Trade, News, United States

March 4, 2024

At the recent Commodity Classic event, thousands of growers convened to discuss industry trends and developments. Among them was Randy Spronk, Chair of the U.S. Meat Export Federation (USMEF) and a prominent pork and grain producer from Edgerton, Minn. Together with other USMEF leaders, Spronk expressed gratitude to corn and soybean producers for their invaluable […]

Uzbekistanâ€™s Cabbage Exports Surge in January 2024

Agricultural Trade, News, Uzbekistan

March 4, 2024

In January 2024, Uzbekistan’s cabbage exports experienced a notable upturn, with shipments totaling 29,100 tons and yielding a revenue of 7 million US dollars, according to recent data released by the Statistics Agency. This surge reflects a substantial financial growth of 4.6 million US dollars compared to the corresponding period in the previous year. […]

French Exports to Libya Soar to 301 million Euro in 2023, Marking Highest Since 2015

International Trade, News

March 4, 2024

In a notable development, the French embassy in Tripoli revealed today that French exports to Libya surged to â‚¬301 million (US three hundred twenty-five million) in 2023, marking their highest level since 2015. This substantial increase represents a remarkable growth of 36 percent compared to the previous year. According to reports from the embassy, […]

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