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Archive for the ‘News’ Category

Cambodia Adopts New Rules of Origin Law Aligning with World Trade Organization Standards

Cambodia, News, Trade Relations

July 26, 2023

The International Trade Council is pleased to announce that Cambodia has recently ratified a new Rules of Origin (ROO) law on July 5, 2023, in alignment with World Trade Organization (WTO) benchmarks. Key Highlights of the New Law: Uniform Criteria for Product Source Identification: This legislation furnishes businesses with a comprehensive and uniform criterion for […]

Surecomp and ICE Digital Trade cement partnership to drive electronic trade document exchange

Digital Trade, News

July 26, 2023

Toronto, Canada, 25 July 2023 – Surecomp® today announced a strategic partnership with ICE Digital Trade, formerly known as essDOCS, to drive expanded digital trade finance capabilities for corporates, banks and other financial institutions. The technical integration between the two companies allows customers using Surecomp’s collaborative trade finance hub RIVO™ to seamlessly access, consume and […]

International Trade Council Announces Signing of Free Trade Agreement Between Vietnam and Israel

Middle East, News, Trade Agreements, Vietnam

July 25, 2023

The International Trade Council heralds the successful signing of a free trade agreement between Vietnam and Israel, culminating in seven years of detailed negotiations. Signed by the respective trade ministers, the agreement was marked with great optimism this Tuesday. Predicted to rapidly increase annual bilateral trade by close to 50%, the deal is poised […]

Globalstar and Owaka safeguard 15,000 participants in record year for adventure and extreme sports events

Event Management, New Zealand, News

July 19, 2023

Highlights: Specialist tracking solutions provider Owaka has had a record-breaking year, with ever more organisers of sporting competitions and automotive rallies choosing reliable SPOT Gen4 GPS messengers and Globalstar satellites for participant tracking, communications and emergency support Owaka’s highly functional video and data platform helps race officials, as well as friends, family and sponsors, keep track of athletes’ progress […]

Philippines Introduces “Green Lanes” to Attract Foreign Direct Investments

Foreign Direct Investment, News, Philippines

July 13, 2023

In a move aimed at bolstering foreign direct investments (FDI), the Philippines officially launched its “green lanes” for significant strategic investments. The initiative, intended to attract capital inflow into the country, will streamline the process for obtaining necessary documents to establish businesses within the nation, according to the Department of Trade and Industry (DTI). […]

Implementation of the Foreign Direct Investment (FDI) Regulation in Luxembourg

Foreign Direct Investment, Luxembourg, News

July 12, 2023

The International Trade Council hereby acknowledges the recent adoption by Luxembourg’s Chamber of Deputies of bill of law n°7885 on 13 June 2023. This bill puts into practice Regulation (EU) 2019/452, introducing a framework for screening foreign direct investments (FDI) into the EU. The law will be operative from 1 September 2023, joining Luxembourg with […]

New Zealand Prepares for EU Free Trade Agreement to Boost Seafood Sector

Europe, New Zealand, News, Trade Agreements

July 10, 2023

New Zealand’s seafood industry is set to receive a significant boost with the signing of a free trade agreement (FTA) with the European Union on 9th July. The agreement, signed a year after the conclusion of negotiations in June 2022, is expected to eliminate most export tariffs, enhance market access, and reduce compliance requirements, fostering […]

Egypt Witnesses Growth in Foreign Direct Investment Inflow in 2022

Egypt, Foreign Direct Investment, News

July 8, 2023

The International Trade Council commends Egypt’s remarkable progress in attracting foreign direct investment (FDI) in 2022. The United Nations Conference on Trade and Development (UNCTAD) recently reported that Egypt received a total of $11.4 billion in FDI, marking the highest inflow since 2017. In line with its commitment to fostering an environment conducive to international […]

United Arab Emirates Achieves Record Foreign Direct Investment Inflow; Saudi Arabia Experiences Dip

Foreign Direct Investment, News, Saudi Arabia, United Arab Emirates

July 7, 2023

The International Trade Council observes recent developments in the foreign direct investment (FDI) landscape in the Middle East and North Africa (MENA) region. As reported by the United Nations Conference on Trade and Development’s (UNCTAD) 2023 World Investment Report, the United Arab Emirates (UAE) has achieved a historic milestone in FDI inflow, while Saudi Arabia […]

Surecomp named a Leader in IDC MarketScape on Trade Finance Systems

News, Trade Finance

July 5, 2023

Toronto, Canada, 4 July 2023 – Surecomp® today announced that it has been placed in the Leaders Category of the IDC MarketScape: Worldwide Trade Finance Systems 2023 Vendor Assessment (doc #US49436622, 28 June 2023). The result of a rigorous and independent evaluation of eleven trade finance vendors, the IDC MarketScape states that “Surecomp is addressing the evolution […]

International Trade Council Highlights Japan’s Record Investment Projections For Fiscal 2023

Economic Development, Japan, News

June 23, 2023

The International Trade Council (ITC) acknowledges the latest findings by Nikkei that Japanese companies are on track to set a new record in capital investment, reaching 31.6 trillion yen ($223 billion) in the 2023 fiscal year. This represents an increase of 16.9% from the previous fiscal year across all industries. Based on the survey encompassing […]

ITC Comments On Turkish Central Bank’s Decision To Raise Interest Rates

Economic Development, News, Turkey

June 22, 2023

The International Trade Council (ITC) recognizes the substantial interest rate hike enacted by the Turkish Central Bank as an important move towards more traditional economic strategies to tackle persistent high inflation. The 6.5 percentage points increase to 15% signifies a shift in monetary policy and could be an early indicator of economic recovery. Despite the […]

International Trade Council Urges Review Of Global ‘too Big To Fail’ Safeguards

Financial Regulation, News

June 22, 2023

The International Trade Council (ITC) has echoed the call made by the Swiss National Bank (SNB) for a thorough review of the ‘Too Big to Fail’ (TBTF) regulatory framework, following the recent crisis involving Credit Suisse. The Swiss lender, one of 30 large international banks subjected to intensified scrutiny due to its potential impact […]

International Trade Council Comments On European Inflation Rate Drop

Economic Trends, Europe, News

June 22, 2023

The International Trade Council (ITC) has noted a significant easing of inflation across Europe, with rates falling to 6.1% from 7% in April 2023, as reported by Eurostat. Despite this decline, the ITC recognizes the ongoing strain on consumers, who are still grappling with high prices for food and other essential goods. Europe’s largest […]

ITC Unveils Comprehensive Guide on Foreign Direct Investment for Expanding Businesses

Foreign Direct Investment, News

June 19, 2023

The International Trade Council is thrilled to announce the release of its insightful publication, “Going Abroad: Foreign Direct Investment for Businesses Looking to Expand Internationally”. The contents of the book include: An Introduction to Foreign Direct Investment (FDI) The Advantages of FDI for Global Enterprises Market Analysis and Spotting FDI Opportunities Governmental Support for […]

New Book Release: “Post-war Foreign Direct Investment in Ukraine”

Foreign Direct Investment, News

June 15, 2023

June 15, 2023 – The International Center for Trade Transparency Limited is proud to announce the release of the comprehensive guide “Post-war Foreign Direct Investment in Ukraine,” authored by the Honorable Iain Evans, former S.A. Leader of the Liberal Party of Australia and former Minister of Trade. The book offers an insightful and detailed examination […]

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