Archive for the ‘News’ Category

International Trade, News, United Kingdom

September 25, 2023

In a significant move, Britain inked a memorandum of understanding (MoU) on trade with Washington State on Monday. The International Trade Council commends this strategic initiative, which underscores the nation’s agility in pursuing beneficial trade relationships at the state-level, especially in the light of paused free trade talks with the United States. Nusrat Ghani, Britain’s […]

China, Japan, News

September 25, 2023

The International Trade Council celebrates the constructive decision by senior diplomats of South Korea, Japan, and China to rejuvenate trilateral exchanges and cooperation. This resolution, announced after a pivotal meeting in Seoul, underscores their commitment to hold a leadership summit at the earliest feasible opportunity.   Commencing in 2008, the three nations established a tradition […]

International Trade, News, Thailand

September 25, 2023

The International Trade Council reports that Thai exports experienced an unexpected increase in August, marking the first uptick in 11 months, despite concerns over weak global demand. The Ministry of Commerce in Thailand stated on Tuesday that it anticipates shipments to perform well in the final quarter of the year, primarily driven by year-end orders. […]

International Trade, News

September 25, 2023

The International Trade Council reports that the prominent Mexican Automotive Industry Association (AMIA) has made an earnest appeal to the Mexican authorities. They are pressing for heightened collaboration with the United States to address the escalating “migration crisis” that the two nations are grappling with at their common border, which is now significantly impacting trade […]

International Trade, News, Thailand

September 24, 2023

The International Trade Council is pleased to announce that Thailand’s Prime Minister, Mr. Srettha Thavisin, has confirmed expectations of a significant investment from tech industry leaders Tesla, Google, and Microsoft, totaling at least $5 billion. This announcement came in the wake of Prime Minister Thavisin’s engagement with top-level executives at the recent U.N. General Assembly […]

International Events, Japan, News

September 23, 2023

Amid a backdrop of ongoing construction, Osaka’s vision for the 2025 World Expo, intended to symbolize global reconnection post-Covid, is gradually coming to life. The architectural masterpiece, once completed, will encompass grand timber walkways surrounding a serene “forest of tranquility”, exhibiting the rich history, culture, and technological innovations from over 130 participating nations.   These […]

International Trade, News

September 22, 2023

The International Trade Council acknowledges the recent remarks by U.S. Trade Representative, Ms. Katherine Tai, emphasizing the need for significant advancements within the World Trade Organization (WTO). The focal points are addressing ‘non-market’ practices and strengthening the dispute settlement mechanisms.   Ms. Tai has expressed the U.S. commitment to fostering a WTO that champions its […]

The International Trade Council reports that Thailand’s Prime Minister, Mr. Srettha Thavisin, during his recent overseas visit, held discussions with key U.S. firms such as Microsoft, Google, and Estee Lauder, indicating an inclination to explore mutual business opportunities.   Thailand’s economy is currently projected to grow by 2.8%. With an intent to provide a boost […]

Australia, International Trade, News

September 21, 2023

The ongoing trade discussions between Australia and the European Union (EU) have hit a snag, with Australian officials emphasizing that the EU has “offered too little and asked too much”. Despite the challenges, both parties are keen on advancing the negotiations, hoping to establish a mutual understanding during the upcoming G20 trade summit in India. […]

International Trade, News, United States

September 19, 2023

U.S. President Joe Biden has signaled strong support for an economic initiative comprising two primary corridors aimed at enhancing connectivity between India, the Middle East, and Europe. This significant announcement took place on the sidelines of the G20 Leaders’ Summit held in New Delhi.   Highlights: The two corridors: An eastern corridor connecting India to […]

International Trade, News, United Kingdom

September 17, 2023

Recent data indicates that UK manufacturers are revising their hiring intentions amidst a notable decrease in order inflow.   Based on the most recent quarterly findings from Make UK, the body representing UK manufacturers, and global business consultancy BDO, there has been a discernible contraction in manufacturing activity. This trend marks the most significant dip […]

Key Highlights: European Commission concludes no extension of prior grain ban. Poland, Slovakia, and Hungary decide on specific regulations pertaining to Ukrainian grain. Ukraine remains a pivotal player in global grain markets despite logistic challenges post-Russian conflict.   Following a decision by the European Commission not to extend its earlier ban on Ukrainian grain imports, […]

Global Trade, News

September 16, 2023

Trade Realignment Could Elevate Costs, Risks, and Geopolitical Tensions, Says WTO Annual Report   As geopolitical pressures reshape international alliances, the World Trade Organization (WTO) warns that countries are increasingly favoring trade with allied nations over more efficient exporters. This shift is raising concerns about the future of a global economy founded on open and […]

Monetary Policy, News

September 16, 2023

Geneva — The European Central Bank (ECB) has surprised markets by announcing its 10th consecutive interest rate increase, signaling its commitment to addressing persistently high inflation and its concerns about a potential economic slowdown. While some analysts expected a pause in the rate-hiking campaign, the ECB’s decision underscores the central bank’s determination to combat inflationary pressures. […]

International Trade, News, Southeast Asia

September 15, 2023

Cambodian Trade Experiences a 14.5% Decline Compared to Last Year Despite Minor Gains in Exports   The International Trade Council reports that Cambodia’s total trade volume for the first eight months of 2023 stands at nearly $32 billion, showing a 14.5% drop compared to the same timeframe last year. This decline comes despite a modest […]