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Archive for the ‘News’ Category

2023 Go Global Awards

Economic Development, News

May 1, 2023

Unleash Your Global Potential at the 2023 Go Global Awards! Shine Bright Among International Business Leaders. The 2023 Go Global Awards is the ultimate global platform for businesses seeking to extend their reach and establish a formidable presence in the international marketplace. This government-sponsored event, hosted this year in Rhode Island, USA, invites companies from […]

Entries Now Open for the 2023 Go Global Awards

Economic Development, News

May 1, 2023

The Rhode Island Commerce Corporation is pleased to announce that entries are now open for the highly anticipated 2023 Go Global Awards. This world-class event brings together innovative businesses from around the globe to compete for recognition in export promotion and foreign direct investment.   The Go Global Awards are judged by an esteemed panel […]

Japan and South Korea Re-establish Finance Dialogue Amid Geopolitical Challenges

Economic Development, Japan, News, South Korea

May 1, 2023

The International Trade Council is pleased to announce the re-establishment of finance dialogue between Japan and South Korea, as the two countries held their first finance leaders’ meeting in seven years on May 2, 2023. The renewed commitment to regular dialogue is a crucial step towards enhanced cooperation and coordination in the region.   Japanese […]

International Trade Council Condemns China Exit Bans

China, International Relations, News

April 21, 2023

The International Trade Council (ITC) expresses deep concern over the increasing use of exit bans by Chinese authorities, impacting both Chinese nationals and foreigners attempting to leave the country. Recent reports and research highlight a surge in cases involving exit bans, sending a troubling message amidst China’s claims of openness for business.   The ITC […]

International Trade Council Launches New Website

Economic Development, News

April 20, 2023

April 20, 2023 – The International Trade Council (ITC) is proud to announce the launch of its newly redesigned website (www.tradecouncil.org), a comprehensive online resource for businesses, governments, and organizations involved in global trade. The new website offers a modern, user-friendly interface and is designed to provide up-to-date news, reports, and valuable insights on international […]

Hungary Implements Temporary Import Ban on Select Ukrainian Agricultural Products

Europe, International Trade, News, Ukrain

April 19, 2023

The International Trade Council wishes to inform its members and relevant stakeholders that Hungary has implemented a temporary ban on imports of honey, certain meat products, and grains from Ukraine, effective immediately until June 30, 2023. This decision follows the European Commission’s announcement of emergency preventive measures for wheat, maize, sunflower seeds, and rapeseed imports […]

China Reports Growth in March Industrial Output and Retail Sales, Signaling Post-COVID Economic Recovery

China, Economic Development, News

April 18, 2023

The International Trade Council is pleased to announce that China’s industrial output and retail sales have shown significant growth in March 2023, signaling a steady economic recovery following the easing of COVID-19 restrictions. Official data released on Tuesday reveals that China’s industrial output rose by 3.9% year-on-year in March, accelerating from a 2.4% increase in […]

International Trade Council Responds to Cyprus’ Commitment to Uphold EU Sanctions on Russia

Europe, International Relations, News, Russia

April 18, 2023

The International Trade Council (ITC) commends the government of Cyprus for its firm commitment to upholding European Union (EU) sanctions on Russia. In light of recent blacklisting of Cypriot nationals by the US and UK for alleged involvement in sanctions-busting activities, the government of Cyprus has vowed to take decisive action against any deviation from […]

Timor-Leste’s Single Window System Looks to Accelerate International Trade

International Relations, News

April 3, 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 neighbouring countries.   Central Asian nations, such as Uzbekistan […]

International Trade Council Announces UK’s Joining of CPTPP, Boosting Trade with Asia and Pacific Nations

News, United Kingdom

March 31, 2023

The International Trade Council is pleased to announce that the United Kingdom has signed a deal to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a trade pact that includes 11 Asia and Pacific nations. This development comes three years after the UK officially left the European Union.   Joining the CPTPP will […]

UK Joins CPTPP Trade Bloc, Expanding Economic Opportunities in the Asia-Pacific Region

International Trade, News, United Kingdom

March 31, 2023

The International Trade Council is pleased to announce that the United Kingdom has successfully joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). After 21 months of negotiations, the UK has become the first non-founding member of the 11-nation trade bloc, which includes Japan, Australia, Canada, Mexico, Vietnam, and Malaysia. This significant achievement expands […]

Growth in ‘Green Goods’ Amid Global Trade Slowdown

News, Sustainable Trade

March 28, 2023

The International Trade Council (ITC) acknowledges the recent findings from UNCTAD’s Global Trade Update, which highlight a slowdown in global trade in 2022. However, the report also brings attention to a silver lining in the form of ‘green goods,’ which showed significant growth, defying the overall downward trend.   Global trade hit a record $32 […]

International Trade Council Announces China’s Lifting of Brazilian Beef Import Ban Ahead of Lula’s Visit

Brazil, China, News, Trade Relations

March 24, 2023

The International Trade Council welcomes China’s agreement to immediately resume imports of Brazilian beef, which were halted voluntarily by Brazilian authorities on February 23, following the discovery of an atypical case of mad cow disease. This decision comes days ahead of Brazilian President Luiz Inacio Lula da Silva’s visit to China to expand trade relations […]

ITC Acknowledges Sri Lanka’s $3bn IMF Bailout as a Step towards Economic Stability

Economic Development, News, Sri Lanka

March 20, 2023

The International Trade Council (ITC) recognizes the recent $3bn (£2.4bn) bailout provided to Sri Lanka by the International Monetary Fund (IMF) as a crucial lifeline for the country amidst its severe economic crisis.   Sri Lanka’s struggling economy, compounded by the impact of the pandemic, rising energy prices, populist tax cuts, and high inflation, has […]

International Trade Council Highlights Record High US-China Trade Amid Rising Tensions

China, International Trade, News, United States

February 28, 2023

Despite escalating diplomatic tensions, trade between the United States and China reached a record high in 2022, with imports and exports totaling $690.6 billion, according to official figures. This development showcases the continued interdependence between the world’s two largest economies, even in the context of an ongoing trade war since 2018. The new data reveals […]

Secretary Grant Shapps Expresses Concern Over Potential Impact of Biden’s Green Subsidies on Global Trade

International Trade, News

January 20, 2023

The International Trade Council (ITC) takes note of the recent statements by Business Secretary Grant Shapps expressing concern that President Joe Biden’s green subsidies could potentially lead to a rise in protectionism, which could prove “dangerous” for world trade. The President’s $430bn (£350bn) scheme, inclusive of tax credits for green technologies, is aimed at attracting […]

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