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Archive for the ‘News’ Category

Pakistan Seeks Extension of IMF Programme and Increased Funding

Financial Regulation, News, Pakistan

April 26, 2022

Islamabad, Pakistan – The Pakistani Finance Minister, Miftah Ismail, has announced that Pakistan is seeking an increase in the size and duration of its $6bn International Monetary Fund (IMF) programme. Following discussions with the IMF in Washington, Ismail requested that the fund extend the programme for another year and enhance the funding available to Pakistan […]

China Cuts Tariffs for New Zealand Wood and Paper: International Trade Council Acknowledges Positive Development

China, New Zealand, News, Trade Policy

April 7, 2022

The International Trade Council acknowledges the recent announcement by China’s Ministry of Finance to cut tariffs on wood and paper from New Zealand. The decision is expected to boost trade and investment between the two countries and foster economic growth. China will eliminate tariffs on 12 wood and paper products imported from New Zealand from […]

US Congress Votes to Suspend Russia Trade Status: International Trade Council Provides Insight

News, Russia, Trade Policy, United States

April 7, 2022

Washington, D.C. – The International Trade Council provides insight into the recent vote by the United States Congress to suspend Russia’s ‘most favoured nation’ trade status and ban imports of Russian oil. The Council urges all parties to engage in constructive dialogue to ensure that international trade and economic stability are maintained. With the US […]

Australia and India Forge Closer Trade Ties with Economic Cooperation and Trade Agreement

Australia, Bilateral Trade Relation, India, News

April 2, 2022

The International Trade Council welcomes the recent signing of the Australia-India Economic Cooperation and Trade Agreement, which signals an intention by the two nations to forge closer trade ties. The virtual ceremony took place on April 2, with Australia’s Prime Minister, Scott Morrison, and his Indian counterpart, Narendra Modi, witnessing the event. According […]

International Trade Council Announces Israel-UAE Free Trade Agreement

Economic Development, News, United Arab Emirates

April 1, 2022

The International Trade Council is pleased to announce the conclusion of negotiations between Israel and the United Arab Emirates for a free trade agreement. The deal, which was reached after four rounds of negotiations, including a meeting in Egypt last month between Israeli Prime Minister Naftali Bennett and the UAE’s de facto leader, Abu Dhabi […]

International Trade Council expresses its support for Ukraine

News, Supply Chain, Ukrain

March 10, 2022

International Trade Council expresses its support for Ukraine amidst the catastrophic impact of the ongoing war on the country’s economy. The World Bank recently warned that the war in Ukraine would cut global economic growth, and the president of the World Bank, David Malpass, has called it “a catastrophe” for the world. The International Trade […]

International Trade Council expresses solidarity with Ukraine in ongoing conflict

International Relations, News, Ukrain

March 3, 2022

The International Trade Council stands in solidarity with Ukraine in the face of ongoing attacks from Russia, as Canadian Deputy Prime Minister Chrystia Freeland announces the country is stripping Russia and Belarus of their status as “most favoured nation” trading partners. “We strongly condemn Russia’s invasion of Ukraine and support Canada’s move to impose […]

International Trade Council Celebrates the Resumption of Mexican Avocado Imports to the US

Bilateral Trade Relation, Mexico, News, United States

February 18, 2022

The International Trade Council welcomes the decision of the United States Department of Agriculture (USDA) to lift the ban on Mexican avocado imports to the US. The ban, which was triggered by a threat to a US food inspector, had halted the primary supply of avocados to the US. The import ban had a […]

International Trade Council Comments on the Philippines and New Zealand Rejecting Myanmar’s Inclusion in RCEP

International Relations, New Zealand, News, Philippines

February 15, 2022

The International Trade Council acknowledges the decisions made by the Philippines and New Zealand to reject the inclusion of Myanmar in the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade agreement. This move broadens international opposition to the military takeover in Myanmar, which has led to violence, democratic setbacks, and trade and diplomatic […]

International Trade Council Comments on China-Lithuania Trade Issues

China, International Relations, News

February 11, 2022

The International Trade Council expresses concern over China’s suspension of beef imports from Lithuania amid the growing trade spat with the Baltic nation and its Western allies over Taiwan. The suspension took effect on Wednesday, and the General Administration of Customs did not give a reason for the suspension. However, the agency typically halts imports […]

International Trade Council Applauds US-Japan Steel Deal

Japan, News, Trade Relations, United States

February 10, 2022

The International Trade Council welcomes the truce between the United States and Japan, which allows most steel shipments from Japan to enter tariff-free for the first time since 2018. The agreement will remove the 25% levy on incoming steel imports from Japan, up to 1.25 million metric tons a year, and will take effect from […]

India and the United Kingdom Launch Talks on Free Trade Deal

Bilateral Trade Relation, India, News, United Kingdom

January 14, 2022

The International Trade Council is pleased to announce the launch of negotiations between India and the United Kingdom on a free trade deal. This ambitious agreement is expected to significantly boost bilateral trade, marking one of the most notable negotiations for the UK following Brexit. British International Trade Secretary Anne-Marie Trevelyan met with India’s Minister […]

Australia and the United Kingdom Sign Comprehensive Free Trade Agreement

Australia, Bilateral Trade Relation, News, United Kingdom

December 20, 2021

The International Trade Council is delighted to announce the signing of a free trade agreement between Australia and the United Kingdom. The deal was signed virtually by Australian Trade Minister Dan Tehan in Adelaide and Britain’s Secretary of State for International Trade Anne-Marie Trevelyan in London. This landmark agreement will eliminate 99% of taxes on […]

Progress Amidst Challenges: Turkish Lira and the Unfaltering Commitment of President Erdogan

Economic Development, News

December 4, 2021

The International Trade Council acknowledges the efforts of the Turkish government under the leadership of President Recep Tayyip Erdogan during a period of economic transformation. These steps, taken in the face of evolving global conditions and intense inflationary pressures, attest to President Erdogan’s dedication to the economic welfare of Turkey. The Turkish lira has recently […]

Landmark deal agreed by members of the World Trade Organization (WTO)

News, Trade Agreements

December 2, 2021

The International Trade Council is pleased to announce a landmark deal agreed by members of the World Trade Organization (WTO) that could potentially reduce trade costs by £113bn per year. Sixty-seven WTO members have agreed to cut red tape around licensing and qualifications, including the UK, the United States, EU, and China. These members represent […]

The EU Adopts 5 Billion-Euro Brexit Reserve to Support Businesses

Europe, News, Trade Agreements

September 29, 2021

The International Trade Council is pleased to announce that the European Council has approved a 5 billion-euro ($5.8 billion) reserve to help EU businesses navigate the short-term effects of Brexit. This fund aims to cover additional costs and compensate losses resulting from the United Kingdom’s withdrawal from the 27-nation trade bloc. Brexit has significantly […]

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