The European Union’s (EU) new rules aimed at curbing deforestation have raised concerns over their potential “catastrophic” impact on global trade if not implemented with consideration for small producers and developing nations, according to the head of the International Trade Centre (ITC). Pamela Coke-Hamilton, the Executive Director of the ITC, a collaborative agency of […]
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United Kingdom Considers Establishing Joint Trade and Economic Committee with the Philippines The International Trade Council reports that the United Kingdom (UK) and the Philippines are in discussions regarding the potential formation of a Joint Trade and Economic Committee (JETCO). The aim of the JETCO would be to strengthen economic connections between the two nations. […]
NAIROBI – During the recent United Nations Conference on Trade and Development (UNCTAD) presidential dialogue in Nairobi, Kenyan President William Ruto emphasized the need for reforms in the international financial system. Such reforms, he highlighted, would strengthen investor trust in the African continent. President Ruto advocated for improved risk assessments for Africa, emphasizing that a […]
The International Trade Council is taking note of the recent development concerning a ban issued by President Joe Biden in August, restricting new US investments in China’s high-tech sectors, specifically targeting artificial intelligence (AI), advanced semiconductors, and quantum information technologies. This policy encompasses various forms of investment, such as indirect investments, private equity, venture capital, […]
The International Trade Council acknowledges the recent data shared by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. The figures presented indicate that the United States’ trade deficit in goods and services stood at $65.5 billion in June, marking a decrease of $2.8 billion from the revised $68.3 billion reported in May. […]
The International Trade Council acknowledges the recent data shared by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. The figures presented indicate that the United States’ trade deficit in goods and services stood at $65.5 billion in June, marking a decrease of $2.8 billion from the revised $68.3 billion reported in May. […]
India and the United Arab Emirates (UAE) have decided to settle crude oil transactions using their national currencies: the Indian rupee and the UAE dirham. This move follows the Memorandum of Understanding (MoU) that was signed when Prime Minister Narendra Modi visited the UAE on July 15. This MoU led to the establishment of […]
Nigeria is poised to receive a significant influx of foreign direct investments (FDI) ranging from $18 to $20 billion in its oil sector, as various oil companies show renewed interest in restarting previously abandoned projects and expediting the progress of delayed initiatives. Bala Wunti, the Group General Manager of Nigerian Upstream Investment Services (NUIS), recently […]
The International Trade Council notes the official enactment of the US-Taiwan trade agreement following US President Joe Biden’s endorsement. This legislation represents the first agreement under the US-Taiwan Initiative on 21st Century Trade, signaling a collaborative approach to bilateral trade ties. The agreement’s primary features include: Streamlining of customs procedures. Measures against corruption. Support mechanisms […]
The International Trade Council addresses the escalating concerns pertaining to the European Union’s trade deficit with China, which approached a notable €400 billion last year. EU Trade Commissioner, Valdis Dombrovskis, communicated to media outlets about the remarkable deficit, highlighting that it has magnified twofold in a mere span of two years. This accentuates the […]
The International Trade Council acknowledges the evident implications of wildfires on Canada’s trading performance. As illustrated by the recent Donnie Creek wildfire and many others this year, there is a significant impact on Canadian exports. The latest report from the Conference Board of Canada highlights a widening of Canada’s trade deficit for the second […]
The volume of foreign direct investments (FDI) in Oman has demonstrated a notable increase, recording a growth of 23.3 percent by the end of the first quarter of this year. The total FDI volume reached OMR 21.270 billion, with a financial flow estimated at OMR 4.20 billion. This growth is in comparison to an FDI […]