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Archive for the ‘News’ Category

EU and African Nations Collaborate on WTO Reform to Address Chinese Market Influence

Africa, Europe, International Trade, News

December 6, 2023

In a recent study conducted by the German Economic Institute (IW), it has been suggested that the European Union (EU) should collaborate with African countries to revamp the World Trade Organization’s (WTO) subsidy regulations. This strategic move aims to counteract market distortions caused by China’s subsidies and its diplomatic influence.   The IW, a respected […]

China’s November Trade Data Highlights Mixed Signals in Global Commerce

China, International Trade, News

December 6, 2023

In a recent report released by Chinese customs authorities, it was revealed that China’s exports in November experienced a modest increase of 0.5% compared to the same period in the previous year. Simultaneously, imports registered a slight decline of 0.6%, presenting an intriguing snapshot of China’s trade dynamics.   This unexpected performance in the export […]

Canada’s Trade Surplus Exceeds Expectations in October

Canada, International Trade, News

December 6, 2023

Canada has reported a trade surplus larger than anticipated, amounting to C$2.97 billion ($2.19 billion) in October, according to data from Statistics Canada. This surplus comes as exports experienced a slight increase, while imports registered a significant decline.   Analysts participating in a Reuters poll had forecasted a trade surplus of C$1.60 billion. September’s surplus […]

U.S. Engages with Venezuela Amid Sanctions Evaluation

News, Sanctions, United States

December 5, 2023

Amid deliberations within the Biden administration regarding the potential reinstatement of energy sanctions on Venezuela, the United States remains in dialogue with representatives from President Nicolas Maduro’s government, according to Brian A. Nichols, a State Department official. The discussions are part of a broader effort to assess whether the Maduro government has met specific conditions […]

Global Focus on Harnessing Digital Trade for Inclusive Development

Digital Trade, News

December 5, 2023

  During the recent UN Conference on Trade and Development (UNCTAD) “eWeek” 2023, Deputy Director-General Angela Ellard took center stage to highlight the pivotal role of digital trade in promoting inclusive and sustainable development on a global scale.   In her address, DDG Ellard stressed the immense potential of digital trade to create a more […]

Germany Continues to Attract Foreign Direct Investment Despite Expected Dip in Numbers

Foreign Direct Investment, Germany, News

December 5, 2023

Germany remains a highly attractive destination for foreign direct investment (FDI) in Europe, according to Germany Trade & Invest. While the number of foreign companies settling in the country is expected to decrease by nearly 20% in 2023, Germany maintains its status as Europe’s top choice for FDI.   Similar declines in FDI have been […]

China and Mexico Officials Pledge to Enhance Bilateral Cooperation

China, Mexico, News, Trade Agreements

December 5, 2023

In a demonstration of strong bilateral relations, Chinese Foreign Minister Wang Yi and Mexican Foreign Minister Alicia Barcena met in Beijing to discuss the potential for further cooperation between their two countries. Wang Yi emphasized the substantial potential and ample room for development in China-Mexico cooperation during their meeting.   A significant point of discussion […]

U.S. Treasury Secretary Yellen Visits Mexico to Strengthen Cooperation on Fentanyl and Supply Chains

Mexico, News, Supply Chain, United States

December 4, 2023

U.S. Treasury Secretary Janet Yellen is set to embark on a trip to Mexico City from December 5th to 7th, with a focus on enhancing collaboration with Mexican officials to combat illicit finance and the trafficking of fentanyl. Additionally, the visit aims to reinforce Mexico’s role in U.S. supply chains, as stated by Treasury officials. […]

Argentina’s New Government Expresses Intent to Pursue EU-Mercosur Trade Deal

Argentina, News, Trade Agreements

December 4, 2023

Argentina’s incoming government is determined to pursue a trade agreement between the European Union (EU) and Latin American economies, according to the country’s future Foreign Minister Diana Mondino. As the current administration’s prospects of finalizing the deal before the end of its term diminish, Argentina’s new leadership is committed to exploring opportunities for the agreement. […]

Fish Week Commences as Negotiations Push for MC13 Outcome

Economic Development, News

December 4, 2023

In an endeavor to lay the groundwork for the 13th Ministerial Conference (MC13), the chair of the fisheries subsidies negotiations, Ambassador Einar Gunnarsson of Iceland, inaugurated the final “Fish Week” of 2023 on December 4th. The primary objective of this week is to propel the work towards a favorable outcome.   Ambassador Gunnarsson has taken […]

UAE and Colombia Forge Historic Bilateral Trade Agreement

Colombia, News, Trade Relations, United Arab Emirates

December 2, 2023

In a significant milestone, the United Arab Emirates (UAE) has announced the successful conclusion of a comprehensive trade agreement with Colombia, marking the first-ever bilateral trade pact between the Gulf region and South America.   Thani Al Zeyoudi, UAE’s Minister of State for Foreign Trade, made the announcement on Saturday, underscoring the groundbreaking nature of […]

Global Collaboration Bolsters Efforts in Trade, Food, and Climate Change

International Trade, News

December 1, 2023

In a momentous development, two prominent international organizations have come together to address urgent global challenges. The World Trade Organization (WTO) and the United Nations Food and Agriculture Organization (FAO) have recently forged an agreement to strengthen their cooperation and collaboration in areas encompassing food and agricultural trade and climate change. This agreement, signed on […]

Global Efforts to Decarbonize Steel Industry Receive Strong Backing at COP28

International Trade, News

December 1, 2023

In a significant development, key players from standard-setting bodies, international organizations, steel producers, and industry associations have united to endorse a set of principles aimed at revolutionizing the measurement of greenhouse gas emissions within the steel sector. The momentous partnership, known as the Steel Standards Principles, received a warm welcome from Director-General Ngozi Okonjo-Iweala on […]

China and Vietnam Explore Railway Upgrade Through Rare Earths Region

China, International Trade, News, Vietnam

November 30, 2023

China and Vietnam are engaged in discussions to potentially enhance their underdeveloped railway connections, with the aim of bolstering a rail line that traverses Vietnam’s rare earths-rich region and connects to the country’s primary northern port. Senior officials and diplomats have confirmed these talks, which coincide with preparations for a potential visit to Hanoi by […]

China Initiates Review of Anti-Subsidy Tariffs on Australian Wine Imports

China, International Trade, News

November 30, 2023

In a significant development aimed at improving relations between China and Australia, China has officially announced its intention to review the anti-dumping and anti-subsidy tariffs imposed on Australian wine imports. This long-anticipated move is seen as a crucial step towards easing tensions and enhancing trade cooperation between the two nations.   China’s Commerce Ministry issued […]

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