Archive for the ‘News’ Category

Agricultural Trade, News, Philippines

January 23, 2024

  In a potential shake-up of global banana export rankings, preliminary findings from the United Nations’ Food and Agriculture Organization (FAO) indicate that Guatemala may have overtaken the Philippines in 2023. The Philippines, holding the second position for six consecutive years, faces a possible dip in its standing.   According to early data from the […]

Europe, International Trade, News

January 22, 2024

In a groundbreaking development, the European Union’s 6-billion-euro growth plan for the Western Balkans is being hailed as a potential game-changer that could lead to a doubling of regional economies in the coming decade, according to an EU official. Leaders from the six Western Balkan countries, including Albania, Bosnia, Kosovo, Montenegro, North Macedonia, and Serbia, […]

In a groundbreaking economic development, Sri Lanka and Thailand are gearing up to ink a transformative Free Trade Agreement (FTA) on February 3rd, signaling a strategic move poised to elevate bilateral trade to an impressive US$ 1.5 billion. The signing ceremony, graced by the visit of Thailand’s Prime Minister, Srettha Thavisin, is anticipated to strengthen […]

Economic Development, News

January 21, 2024

Dubai continues to demonstrate economic resilience as its gross domestic product (GDP) experienced a commendable growth of 3.3% in the period spanning January to September 2023, according to data released by the state news agency WAM on Sunday.   In this impressive economic landscape, key sectors played pivotal roles in driving growth. Accommodation and food […]

In a remarkable feat fueled by the worldwide fascination with Korean entertainment content, South Korea’s iconic dish, kimchi, achieved record-breaking export figures in 2023. According to data unveiled by the Korea Customs Service, outbound shipments of kimchi, a traditional Korean side dish made from fermented cabbage, surged by 7.1 percent, reaching an impressive 44,041 tons. […]

Australia, China, Energy Trade, News

January 19, 2024

In a significant development, China experienced a notable rebound in coal imports from Australia throughout 2023, marking a positive shift following a nearly two-year ban. However, import levels remained below those observed in the pre-ban era, as Australia worked to regain market share amid stiff competition from other countries.   According to customs data, China […]

In a positive development, officials from the U.S. Treasury and Chinese finance authorities concluded their meetings in Beijing this week, affirming their commitment to ongoing regular engagements, as announced by the Treasury Department on Friday.   The statement highlighted that U.S. officials expressed Secretary Janet Yellen’s anticipation of a return visit to China at an […]

Economic Security, Europe, News

January 19, 2024

In a strategic move to bolster economic security, the European Commission is set to unveil a proposal next week, outlining a law that mandates all EU member countries to conduct comprehensive scrutiny of foreign investments to assess potential security risks, according to a document seen by Reuters.   Since 2020, EU nations with existing national […]

Indonesia, International Trade, News

January 16, 2024

In a twist of events, Indonesia’s trade dynamics defied expectations in December, revealing a notable trade surplus driven by an unexpected drop in imports. While export figures declined by 5.8% year-on-year (YoY), the real surprise came from a 3.8% YoY contraction in imports, in stark contrast to the anticipated 0.2% gain.   The decline in […]

China, International Trade, News

January 15, 2024

In a strategic move to enhance diplomatic relations, Irakli Kobakhidze, the leader of Georgia’s ruling party and chairman of the governing Georgian Dream bloc, embarked on a six-day visit to China on Monday. Initial reports from Georgian media highlighted his significant meeting with the head of the Chinese Communist Party’s International Department.   Kobakhidze stressed […]

Economic Development, News

January 15, 2024

In a notable economic update, President Maduro announced that Venezuela’s economy, which experienced a 5% growth in 2023, is set to reach an impressive 8% this year. This positive outlook comes amidst the country’s prolonged economic challenges, including triple-digit inflation and a significant emigration of millions seeking better opportunities abroad.   Although Venezuela’s inflation rate […]

Agricultural Trade, Europe, News

January 15, 2024

In a recent development, agricultural ministers from Bulgaria, Poland, Hungary, Romania, and Slovakia, representing the European Union’s eastern states, have jointly requested the EU to consider imposing import duties on Ukraine’s grains. Citing concerns over unfair competition, the ministers, including Hungary’s Farm Minister Istvan Nagy, underscored the impact of cheaper Ukrainian agricultural products on their […]