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Archive for the ‘News’ Category

Brazil’s Entry into WTO Civil Aircraft Agreement Boosts Trade Prospects

Brazil, Economic Development, News

November 17, 2023

In a significant development, Brazil has officially become a member of the World Trade Organization’s agreement on trade in civil aircraft. This move has been enthusiastically welcomed by Embraer, one of the world’s leading aircraft manufacturers, as it paves the way for tariff-free imports of vital components from fellow member states.   The approval of […]

United States Extends Strategic Partnership with STDF Until 2028 to Promote Safe Trade

Agricultural Trade, News, United States

November 17, 2023

In a significant commitment to global trade facilitation, the United States Department of Agriculture (USDA) has entered into a five-year agreement with the Standards and Trade Development Facility (STDF), pledging financial support from 2023 to 2028. This partnership reflects the USDA’s dedication to aiding developing countries in meeting international food safety, animal health, and plant […]

Norway Supports Global Fisheries Sustainability Through WTO Funding Mechanism

International Relations, News, Norway

November 17, 2023

Norway has reaffirmed its commitment to global fisheries sustainability by contributing NOK 9 million (approximately CHF 730,500) to the WTO Fisheries Funding Mechanism. This financial support is aimed at assisting developing and least-developed member countries in effectively implementing the Agreement on Fisheries Subsidies.   Norway’s WTO Ambassador, Petter Ølberg, presented this generous contribution to WTO […]

Ukraine’s Black Sea Corridor Facilitates Vital Trade Amidst Challenges

News, Ukrain

November 17, 2023

In a recent update, Ukraine reports that its newly established Black Sea shipping corridor, operational since August, has witnessed significant activity, underscoring its importance in the region’s trade landscape. According to information from the Interfax-Ukraine news agency, a senior government official shared the latest developments.   Since its inception, a total of 151 ships have […]

Biden Advocates for Enhanced Workers’ Rights and Stable US-China Relations at APEC Summit

China, International Trade, News, United States

November 16, 2023

At the Asia Pacific Economic Cooperation (APEC) forum in San Francisco, President Joe Biden emphasized his commitment to furthering a Pacific trade pact, focusing on workers’ rights and maintaining stable relations with China. Addressing top corporate executives, Biden expressed determination to continue promoting trade that prioritizes strong labor standards.   Despite challenges in aligning the […]

Landmark Nuclear Deal Signed Between the United States and the Philippines

International Trade, News, Philippines

November 16, 2023

In a historic move, the United States and the Philippines have inked a groundbreaking agreement that opens the door for Washington to export nuclear technology and materials to Manila. This landmark deal signifies the Philippines’ exploration of nuclear power as a means to decarbonize its energy sector and enhance energy independence.   U.S. Secretary of […]

Peru’s President Boluarte Explores Trade Opportunities Following Meeting with China’s Xi

Bilateral Trade Relation, China, News

November 16, 2023

The President of Peru, Dina Boluarte, held a constructive meeting with her Chinese counterpart, President Xi Jinping, during the Asia-Pacific Economic Cooperation (APEC) forum in San Francisco. Their discussions revolved around significant infrastructure projects and potential investments, with a particular focus on strengthening trade ties between the two nations.   Among the key topics discussed […]

APEC Urged to Lead in Reshaping WTO’s Future at MC13

International Trade, News

November 16, 2023

In a recent address at the 2023 Asia Pacific Economic Cooperation (APEC) Leaders Meeting in San Francisco, Deputy Director-General Angela Ellard emphasized the crucial role of the World Trade Organization (WTO) in building a more open, dynamic, resilient, inclusive, and peaceful Asia-Pacific community. She called upon APEC to take the lead in reforming the multilateral […]

Indo-Pacific Partners Reach Agreement on Clean Energy and Anti-Corruption Measures

Indonesia, International Trade, News

November 16, 2023

In a significant development during the Asia Pacific Economic Cooperation (APEC) leaders’ summit in San Francisco, countries belonging to the U.S.-led Indo-Pacific Economic Framework (IPEF) announced consensus on two key pillars of the initiative. These pillars revolve around cooperation in clean energy and anti-corruption measures. Additionally, ministers from the 14 IPEF nations formally signed the […]

Mexico and China Strengthen Ties, Pledge to Boost Trade and Investment

China, International Trade, Mexico, News

November 16, 2023

During a meeting on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, leaders of Mexico and China reaffirmed their commitment to enhancing their bilateral relationship. They pledged to work together to strengthen ties, combat illegal drug trafficking, and promote increased trade and investment between their nations.   Chinese President Xi Jinping […]

Uzbekistan Accelerates WTO Accession Talks, Showcases Strong Commitment

News, Trade Agreements, Uzbekistan

November 16, 2023

In a significant move to expedite its World Trade Organization (WTO) accession, Uzbekistan has injected fresh vigor into the negotiation process, as highlighted in the recent meeting of the Working Party on the Accession of Uzbekistan on November 16. The Uzbek Government’s enhanced efforts, marked by reinforced domestic institutions, earned praises from WTO members.   […]

Japan and China Forge Path to Trade Cooperation in Effort to Mend Relations

China, Japan, News, Trade Relations

November 15, 2023

In a significant development, Japanese and Chinese trade ministers have come to an agreement to establish a framework for discussions on export controls, signaling a renewed commitment to economic cooperation following a period of strained relations between the two neighboring nations.   Japanese Trade Minister Yasutoshi Nishimura expressed optimism about the potential of these talks […]

Euro Zone Industrial Production Softens While Trade Surplus Persists in September

Manufacturing, News

November 15, 2023

In September, Euro zone industrial production experienced a decline, aligning closely with anticipated figures, as the output of consumer goods registered a notable drop during the month.   According to Eurostat, the European Union’s statistics office, industrial production in the 20 countries sharing the euro currency contracted by 1.1% on a month-on-month basis in September, […]

Trans-Pacific Trade Pact Welcomes Prospective New Members at APEC Summit

News, Trade Agreements

November 15, 2023

Trade ministers from the 12 member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have expressed their openness to welcoming additional countries into the pact, provided they meet the agreement’s rigorous standards. This announcement came during their meeting on the sidelines of the Asia Pacific Economic Cooperation (APEC) summit held in San […]

UK’s Badenoch to Participate in CPTPP Meeting at APEC Summit

News, Trade Agreements, United Kingdom

November 14, 2023

British Business and Trade Secretary Kemi Badenoch is set to attend a meeting of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco. This marks the United Kingdom’s inaugural participation in a CPTPP meeting following its accession to the trade bloc in […]

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