In a significant industry development, China has officially taken the crown as the world’s largest vehicle exporter in 2023, surpassing Japan, according to data released by the Japan Automobile Manufacturers Association (JAMA). The remarkable growth of China’s auto sector in recent years can be attributed to substantial investments in electric vehicles (EVs), a domain […]
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Vietnam is poised for a significant upswing in its agricultural export value to China this year, thanks to a collaborative effort with China to review regulations permitting the official export of poultry meat from Vietnam to the Chinese market. In the year 2023, livestock products constituted only 1 percent of the total agricultural, forestry, […]
In recent developments, the United States and the European Union have encountered challenges in reaching a trade deal related to critical battery minerals. Despite this setback, both parties are committed to pursuing negotiations aimed at establishing a transatlantic marketplace for minerals and other vital components, as stated by the EU’s top trade official. Valdis […]
In a remarkable achievement, Swiss watch exports have achieved a record-breaking performance for the third consecutive year in 2023, witnessing a substantial increase of 7.6 percent, amounting to 26.7 billion Swiss francs ($31 billion), as reported by an industry group. The boost in exports can be primarily attributed to the thriving sales in their […]
In a significant move to bolster their trade relations, the Philippines and Vietnam have signed a Memorandum of Understanding (MOU) on Rice Trade Cooperation. This agreement, among several others, was forged on Tuesday, Jan. 30, during bilateral discussions between the two nations. The MOU on Rice Trade Cooperation establishes a framework for rice cooperation […]
Korea’s passenger car exports reached unprecedented levels in 2023, experiencing a remarkable increase of over 30 percent, primarily driven by the growing demand for eco-friendly models. According to data from the Korea Customs Service, domestic car manufacturers shipped passenger cars valued at $63.81 billion last year, a significant surge from the $49 billion recorded the […]
Spain and China Urged to Strengthen Trade and Investment Ties. Representatives from over a hundred Chinese and Spanish businesses, along with officials including China’s Ambassador to Spain, Yao Jing, convened in Barcelona to explore avenues for boosting trade and investment between the two nations. Wang Bo, General Manager of China Construction Bank in Europe, […]
The Federation of Free Farmers (FFF) anticipates higher rice imports this year, despite elevated global rice prices. According to Raul Montemayor, the FFF’s national manager, rice imports are likely to rise due to insufficient domestic production to meet the growing demand driven by population growth. Montemayor pointed out that while the Philippines reported a […]
South Korea’s export-import cargo experienced a 1 percent growth in 2023, signaling a recovery in the country’s exports, according to the Ministry of Oceans and Fisheries. The seaports in South Korea handled a total of 1.32 billion tons of export-import cargo, a slight increase from the previous year’s 1.31 billion tons. However, overall cargo processed […]
China is setting its sights on an ambitious plan to further expand its global network of high-standard free trade areas (FTAs) in 2024, building on the remarkable progress it has made in negotiating FTAs over the past year. Chinese Vice Commerce Minister Wang Shouwen has unveiled these intentions, highlighting the country’s commitment to increasing openness […]
Taiwan’s trade-dependent economy is anticipated to have experienced accelerated growth in the fourth quarter of the year, largely attributed to robust domestic consumption and a resurgence in exports, according to a recent Reuters poll of 22 economists. Gross domestic product (GDP) for the October-December period is expected to have expanded by approximately 4.35% compared […]
In a significant step towards bolstering their defense cooperation, the Philippines and Canada formally signed a memorandum of understanding on Friday, with Manila’s defense minister expressing optimism that this agreement could pave the way for a troop pact between the two nations. Defense Secretary Gilberto Teodoro highlighted the strong intention on both sides to […]
India and France have solidified their commitment to collaborate on joint defense production, encompassing helicopters, submarines, and more, both for the Indian armed forces and friendly nations, according to a government statement issued following French President Emmanuel Macron’s visit. President Macron’s visit included meetings with Prime Minister Narendra Modi and attendance at a state […]