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Archive for the ‘News’ Category

ITC welcomes 136 new corporate members

Economic Development, News

May 27, 2023

May 27, 2023 – The International Trade Council (ITC) enthusiastically welcomes the addition of 136 new corporate members during the week ending on 26th May, marking a significant milestone in the expansion of its global network. Our latest entrants come from an array of industries and a truly global footprint, originating from 43 diverse countries […]

The International Trade Council Addresses EU’s Trade Agreement ‘Fatigue’: A Call for Renewed Engagement and Strategy

Europe, News, Trade Agreements

May 25, 2023

The International Trade Council recognizes the challenges currently faced by the European Union (EU) regarding the slow progress of trade agreement ratifications, as nations grapple with what’s been described as ‘trade agreement fatigue’.   As per our latest records, the EU currently maintains 41 trade agreements with 72 countries. Yet, the prolonged discussions and complex […]

International Trade Council Expresses Concern Over Russian PM’s Visit to China

China, International Trade, News

May 23, 2023

The International Trade Council (ITC) is carefully monitoring the visit of Russian Prime Minister Mikhail Mishustin to China this week, where he is set to meet with Chinese President Xi Jinping and participate in a series of infrastructure and trade agreements. This meeting comes amid increasing global concerns over Russia’s ongoing aggression in Ukraine. Mishustin’s […]

International Trade Council Engages in Discussions Regarding Australian-EU Trade Negotiations

Australia, Europe, News, Trade Agreements

May 23, 2023

The International Trade Council (ITC) acknowledges the ongoing trade negotiations between Australia and the European Union (EU) and the concerns raised by Australian dairy farmers and wine producers regarding the potential impact on naming rights.   The ITC recognizes the importance of these negotiations for both parties and encourages open dialogue and constructive engagement to […]

Malaysia and UAE Begin Negotiations on Bilateral Trade Deal

Malaysia, News, Trade Agreements, United Arab Emirates

May 23, 2023

The International Trade Council (ITC) recognizes the commencement of negotiations between Malaysia and the United Arab Emirates (UAE) for a Comprehensive Economic Partnership Agreement (CEPA). This decision underscores the UAE’s continued commitment to fostering robust bilateral trade relationships, a pursuit ongoing since 2021. The proposed agreement will encompass trade in goods and services, investments, and […]

Tehran and Jakarta Express Determination to Boost Bilateral Trade

India, Iran, News, Trade Agreements

May 23, 2023

The International Trade Council (ITC) notes the recent developments between Iran and Indonesia to bolster their bilateral trade relations. The past Iranian calendar year witnessed a trade volume nearing one billion dollars between the two nations. Iran’s export to Indonesia accounted for $847 million, while Indonesia exported $119 million worth of goods to Iran. The […]

China-Ecuador Free Trade Agreement Poised to Propel Bilateral Relations and Trade to New Heights

China, News, Trade Agreements

May 22, 2023

The International Trade Council (ITC) welcomes the landmark free trade agreement (FTA) between the People’s Republic of China and the Republic of Ecuador, a move set to significantly enhance bilateral relations, boost trade exchanges, and create mutual benefits. This strategic agreement, signed on May 10 by China’s Commerce Minister Wang Wentao and Ecuador’s Minister for […]

Delays in Protected Status for British Foods in Japan

Japan, News, Trade Agreements

May 21, 2023

The International Trade Council (ITC) notes with concern the prolonged delay in the formal protection from imitation for various British food types in Japan. This includes notable products such as Cornish pasties, Welsh lamb, and Melton Mowbray pork pies, among others.   In September 2020, former trade secretary Liz Truss heralded a post-Brexit trade agreement […]

ITC welcomes 26 new corporate members

Economic Development, News

May 20, 2023

May 20, 2023 – The International Trade Council (ITC) is delighted to report the further growth of its global network with the inclusion of 18 new corporate members in the week ending on 19th May. Our newly affiliated companies span a wide range of sectors and hail from several countries across the globe, including Australia, […]

International Trade Council Endorses New Sanctions Against Russia by OFAC

News, Russia, Sanctions

May 19, 2023

The International Trade Council (ITC) expresses full support for the United States and other G7 partners’ decision to intensify global sanctions against the Russian Federation. As an advocate for equitable and responsible global trade, the ITC recognizes the significance of these sanctions administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control […]

International Trade Council Applauds Pledge to Boost China-Uzbekistan Bilateral Trade Relations

Bilateral Trade Relation, China, News, Uzbekistan

May 18, 2023

The International Trade Council (ITC) welcomes the recent pledge between China and Uzbekistan to improve bilateral trade balances and to intensify cooperation. The agreement, concluded during the China-Central Asia Summit, signifies a strong commitment towards mutual economic prosperity and solidifies the strategic partnership between the two nations.   Following discussions between Chinese President Xi Jinping […]

International Trade Council Responds to Us President’s Veto on Solar Panel Tariffs

International Trade, News, United States

May 17, 2023

The International Trade Council (ITC) acknowledges US President Joe Biden’s recent decision to veto a resolution by Congress seeking to re-establish tariffs on solar panel imports from Southeast Asia. This decision puts to rest an ongoing dispute about whether to penalize China for possible trade violations that circumvent US rules restricting imports of inexpensive Asian-made […]

ITC Discusses Recent Sanctions Against Russia

Economic Sanctions, News, Russia

May 16, 2023

The International Trade Council (ITC) acknowledges the European Union’s (EU) 11th package of sanctions against Russia announced last week by European Commission President, Ursula von der Leyen. The latest sanction package aims to prevent Russia from importing high-tech components for the ongoing conflict in Ukraine from neighboring countries.   Central Asian nations, such as Uzbekistan […]

Launch of UK-Switzerland Trade Talks

News, Switzerland, Trade Agreements

May 16, 2023

The International Trade Council (ITC) is optimistic about the commencement of talks on an enhanced free trade agreement between the United Kingdom and Switzerland, slated to begin on Monday. The British Trade Secretary, Kemi Badenoch, is set to meet Swiss Economy Minister, Guy Parmelin, in Bern, with an ambition to bolster exports in financial and […]

The ITC Supports UK’s Commitment to Strengthen Farming Sector

Agricultural Trade, News, United Kingdom

May 16, 2023

The International Trade Council (ITC) welcomes UK Prime Minister Rishi Sunak’s recently announced measures aimed at reinforcing the UK food supply chain and protecting farmers in future trade negotiations. This initiative is a proactive response to address inflation and highlights the pivotal role of the agricultural sector in the UK’s economy and trade.   The […]

The ITC Supports Strict Enforcement of Cosmetics Regulations

News, Regulatory Compliance

May 16, 2023

The International Trade Council (ITC) today underscores the importance of adhering to cosmetic regulation management rules, as a small trading firm in southwest China faces a significant fine of $420 million for suspected violations.   The Chongqing-based company, Dezhao, was fined by the city’s market regulator for alleged breaches, including the failure to obtain necessary […]

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