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Archive for the ‘News’ Category

International Trade Council Addresses Cbp’s Enforcement Shift to Type 86 Entries

News, Trade Compliance

June 6, 2023

The International Trade Council (ITC) has noted the U.S. Customs and Border Protection’s (CBP) decision to prioritize enforcement measures on Type 86 entries. The shift comes in response to the escalating usage of this relatively new entry type for de minimis shipments and the corresponding rise in related violations. According to CBP’s James Moore, speaking […]

Honduran President to Visit China to Strengthen Economic Ties

China, International Relations, News

June 5, 2023

The International Trade Council (ITC) acknowledges the upcoming visit of Honduran President Xiomara Castro to China, as part of Honduras’s efforts to enhance its relations with Beijing and pursue economic opportunities.   President Castro’s visit, scheduled from June 9 to 13, comes at the invitation of President Xi Jinping and signifies the growing cooperation between […]

ITC welcomes 51 new corporate members

International Trade, News

June 3, 2023

The International Trade Council (ITC) proudly announces a significant expansion to its influential network with the addition of 51 new corporate members during the week ending on June 2, 2023. Our new affiliates represent a broad spectrum of industries and come from 21 diverse countries including Australia, Bangladesh, Canada, Chile, China, Egypt, Finland, Germany, India, […]

New Foreign Direct Investment Screening Regime Implemented in the Netherlands

Foreign Direct Investment, News

June 1, 2023

The Netherlands has enacted a comprehensive foreign direct investment (FDI) screening mechanism through the Security Screening of Investment, Mergers and Acquisitions Act (Wet Veiligheidstoets investeringen, fusies en overnames) (“the FDI Act”), effective since June 1, 2023. This new regime introduces mandatory notifications for investments in target undertakings operating in designated vital sectors and sensitive technologies […]

Armenia’s Role in the Iran-EEU Free Trade Agreement

Iran, News, Trade Agreements

May 31, 2023

The International Trade Council (ITC) notes with interest the upcoming implementation of the free trade agreement between Iran and the Eurasian Economic Union (EEU). This agreement is anticipated to bring significant privileges to Armenia for various products, particularly food commodities, as mentioned by Armenia’s Minister of Economy, Vahan Kerobyan.   While challenges persist in exporting […]

International Trade Council Applauds Implementation of UK’s Post-Brexit Trade Deals with Australia and New Zealand

Australia, New Zealand, News

May 31, 2023

The International Trade Council (ITC) enthusiastically welcomes the entry into force of the UK’s post-Brexit trade agreements with Australia and New Zealand. These treaties, while garnering diverse views, signify a significant move for the UK as an independent trading nation, as they represent the first deals to come into force following Britain’s exit from the […]

International Trade Council Observes Significant Developments at South America Summit

News, Trade Agreements

May 30, 2023

The International Trade Council (ITC) is closely following the South American Summit held in Brasilia, Brazil. The summit, led by Brazilian President Luiz Inacio Lula da Silva, marks a historic gathering of leaders and representatives from twelve South American nations. The main focus of this significant gathering appears to be the revival and strengthening of […]

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, […]

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