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Archive for the ‘News’ Category

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 […]

EU’s DG Trade Enhances Online Support for Service Exporters

Europe, News, Trade Policy

December 13, 2023

The Directorate-General for Trade (DG Trade) of the European Union (EU) has announced a significant expansion of its online Trade Assistant for Services and Investment. This expansion now encompasses a hundred service sectors and includes four key trading partners of the EU: Canada, Japan, Switzerland, and the United Kingdom. EU-based businesses can now access […]

The Importance of Keeping Digital Trade Open: Promoting Inclusion and Growth

Digital Trade, News

December 13, 2023

In today’s global economy, digital trade has taken on an increasingly significant role. From software sales to streaming services, it has become a driving force behind economic growth. However, while digital trade offers immense potential, many developing countries are struggling to fully participate in this transformative landscape. This calls for policy reforms that prioritize inclusion, […]

World Bank Adjusts Thailand’s Growth Projections to 2.5% in 2023 and 3.2% in 2024

Economic Development, News, Thailand

December 13, 2023

The World Bank has revised its economic growth outlook for Thailand, projecting a growth rate of 2.5% for the year 2023, with expectations of an acceleration to 3.2% in 2024. This adjustment comes amid a recovery in tourism, robust exports, and sustained private consumption. The growth forecasts for both 2023 and 2024 have been […]

U.S. Deputy National Security Advisor Discusses Economy and Investment in Argentina

Argentina, Economic Relations, News, United States

December 13, 2023

In a move to strengthen ties and collaboration between the United States and Argentina, Deputy National Security Advisor Mike Pyle held discussions with senior members of the administration of Argentine President Javier Milei. The talks focused on Argentina’s economic plans and opportunities for U.S. investment in the South American nation. During his visit to […]

WTO Members Extend Congratulations to Bhutan for Graduating from LDC Status

Economic Development, News

December 13, 2023

The Sub-Committee on Least Developed Countries (LDCs) convened on December 13, where World Trade Organization (WTO) members celebrated Bhutan’s commitment to reinvigorate negotiations for WTO accession and extended their heartfelt congratulations on Bhutan’s graduation from Least Developed Country (LDC) status. During the meeting, the United Nations Committee for Development Policy provided an update on the […]

Indonesia’s Forward-Thinking Tax Incentives Spark Surge in Electric Vehicle Investment

Indonesia, News, Sustainability

December 13, 2023

In a strategic move to bolster investments in the electric vehicle (EV) sector, Indonesia has introduced a range of tax incentives, unveiling its commitment to becoming a significant player in the global EV market. The recent presidential regulation, signed on December 8 and made public this week, is a signal of Jakarta’s proactive approach to […]

Trading Houses Assist Venezuela in Replenishing Fuel Stocks Under U.S. License

News, Trade Policy, United States

December 12, 2023

In the wake of the U.S. easing of oil sanctions on Venezuela in October, trading houses that initially became purchasers of Venezuelan crude have transitioned to supplying the state-owned company PDVSA with motor fuels and diluents for heavy oil production, as revealed by documents and data. As Venezuela gears up for a presidential election […]

U.S. Congressional Committee Unveils 2024 Legislative Agenda for Balancing Economic Ties with China

China, News, Trade Policy, United States

December 12, 2023

In a bipartisan effort, a U.S. congressional committee has issued an extensive set of recommendations aimed at reshaping America’s economic relationship with China. These legislative proposals for 2024 are intended to prevent the United States from becoming overly dependent on its primary geopolitical rival and to safeguard its economic interests. The comprehensive recommendations put […]

Brazil Secures $10 Billion in Funding from Banks for South American Integration Projects

Brazil, News, Trade Policy

December 12, 2023

In a significant move aimed at advancing South American integration and enhancing trade while reducing transportation time to Asia, the Brazilian government has successfully orchestrated the raising of $10 billion from multilateral and development banks for infrastructure projects. The Brazilian development bank, BNDES, is set to contribute $3 billion to this endeavor, primarily for […]

Chile Formally Embraces Fisheries Subsidies Agreement, Boosting Global Conservation Efforts

Chile, News, Trade Policy

December 12, 2023

Chile has taken a significant step in the realm of international trade and environmental conservation by formally accepting the Agreement on Fisheries Subsidies. On December 12th, Chile’s Undersecretary of International Economic Relations, Claudia Sanhueza Riveros, presented the instrument of acceptance to Director-General Ngozi Okonjo-Iweala at the World Trade Organization (WTO). Director-General Okonjo-Iweala welcomed Chile’s […]

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