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Archive for the ‘News’ Category

Spain Demonstrates Commitment to Sustainable Fisheries with EUR 2 million Contribution to WTO Fund

News, Sustainable Trade

November 13, 2023

In a significant step towards supporting global efforts to ensure the sustainability of our oceans and combat overfishing, Spain has announced a generous contribution of EUR 2 million (approximately CHF 1.9 million) to the WTO Fisheries Funding Mechanism. The donation aims to assist developing and least-developed country members in implementing the historic Agreement on Fisheries […]

U.S. Initiates Purchase of 1.2 million Barrels of Oil for Strategic Petroleum Reserve

Geopolitics, News, United States

November 13, 2023

The United States has unveiled plans to acquire 1.2 million barrels of oil, aiming to replenish its Strategic Petroleum Reserve (SPR). The announcement was made by the Department of Energy on Monday.   According to the department, the intended purchase involves sourcing oil at an average price of $77.57 per barrel from two companies, following […]

Indo-Pacific Trade Talks Require Further Deliberation

News, Trade Agreements

November 13, 2023

U.S. Treasury Secretary Janet Yellen revealed on Monday that negotiations pertaining to the trade section of the Indo-Pacific Economic Framework (IPEF) will necessitate additional work, marking a setback for the Biden administration’s aspirations of announcing substantial progress this week.   Addressing a news conference, Yellen acknowledged “very substantial progress” across three of the four key […]

Singapore and Malaysia Forge Ahead with Joint Special Economic Zone in Johor State

Bilateral Trade Relation, Malaysia, News, Singapore

November 13, 2023

Singapore and Malaysia have embarked on a collaborative endeavor to establish a Special Economic Zone (SEZ) in Malaysia’s Johor state, strategically located adjacent to the Singaporean border. This initiative aims to fortify economic ties and bolster connectivity between the two nations, especially in the face of global economic challenges. Malaysia has set a tight deadline […]

U.S. Commerce Chief Raimondo to Hold Talks with Chinese Counterpart Wang at APEC

News, Trade Relations, United States

November 13, 2023

  In the midst of high-stakes negotiations between U.S. President Joe Biden and Chinese President Xi Jinping, the commerce chiefs of the United States and China are set to convene at the Asia Pacific Economic Cooperation (APEC) forum this week.   A spokesperson from the U.S. Commerce Department confirmed that U.S. Commerce Secretary Gina Raimondo […]

Indonesia Anticipated to Sustain Trade Surplus in October

Indonesia, International Trade, News

November 13, 2023

Indonesia is expected to maintain its trade surplus at $3 billion in October, according to a Reuters poll conducted between November 8 and November 14. This figure represents a slight narrowing compared to the previous month’s surplus of $3.42 billion. The Southeast Asian nation has experienced a weakening trade surplus in recent months, primarily attributed […]

WTO-WIPO Colloquium Empowers Intellectual Property Educators in Geneva

International Trade, News

November 13, 2023

The 19th edition of the colloquium for intellectual property (IP) educators commenced on November 13 in Geneva. Co-hosted by the World Intellectual Property Organization (WIPO) and the World Trade Organization (WTO), this capacity-building event, spanning until November 24, has brought together 27 IP educators and researchers from various corners of the globe. The annual colloquium’s […]

China and EU Commerce Officials Engage in Fruitful Discussions on Trade Relations, EVs, and More

China, Europe, International Trade, News

November 12, 2023

In a significant development, China’s Commerce Minister, Wang Wentao, engaged in substantive discussions with Thierry Breton, the EU’s industry chief, on various crucial topics related to China-EU trade relations and technological cooperation. The talks, described as “in-depth,” covered a wide range of issues, highlighting the growing importance of the China-EU economic relationship on the global […]

US and Indonesia Explore Potential Partnership for EV Mineral Trade

Indonesia, International Trade, News, United States

November 12, 2023

In a significant development, the United States and Indonesia are set to engage in discussions regarding a potential minerals partnership focused on boosting the trade of nickel, a crucial component in electric vehicle (EV) batteries. The talks are slated to take place as Indonesian President Joko Widodo visits the White House for a meeting with […]

Ukraine Boosts Grain Deliveries to Black Sea Ports Through Successful Export Corridor

Agricultural Trade, News, Ukrain

November 10, 2023

In a recent development, Ukraine has witnessed a significant increase in the number of rail wagons transporting grains to the ports in the Odesa region. This positive trend is attributed to the successful operation of an alternative Black Sea export corridor, as reported by a senior official from Ukrainian Railways.   Valeriy Tkachov, the Deputy […]

United States Re-Opens Its Market to Paraguayan Beef Exports After 25-Year Pause

Agricultural Trade, News, United States

November 9, 2023

In a significant development, the United States is set to resume importing beef from Paraguay after a hiatus lasting a quarter of a century. This eagerly awaited decision was announced by the U.S. embassy in Paraguay on Thursday, following an extensive regulatory review process.   President Santiago Pena hailed this milestone as a momentous occasion, […]

EU Aims to Resolve U.S. Steel Dispute, Hoping for Year-End Agreement

Europe, International Trade, News, United States

November 9, 2023

The European Commission is actively pursuing an agreement with the United States regarding steel and aluminum trade, with the goal of ending U.S. import tariffs on these metals by the close of the year. Commission Vice President Vera Jourova made this announcement, underscoring the European Union’s determination to find a resolution.   Negotiations between U.S. […]

Taiwan and Britain Forge New Trade Partnership, Strengthening Global Ties

International Trade, News, Taiwan

November 8, 2023

In a significant development, Taiwan and Britain have inked an Enhanced Trade Partnership, signaling their intent to deepen economic cooperation. The move is poised to fortify Taiwan’s position in global trade and enhance its diplomatic relationships with European nations.   Taiwan places great importance on its alliance with Britain, despite the absence of formal diplomatic […]

Western Miners Seek Premium Pricing for Rare Earth Metals to Diversify from China

China, International Trade, News

November 8, 2023

Several Canadian, German, and Australian mining companies are aiming to secure premium prices for critical metals, such as rare earths, used in electric vehicles (EVs) and renewable energy sources. Their goal is to offer alternatives to China, which currently dominates the production and pricing of these vital minerals.   China’s control over 95% of rare […]

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