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Archive for the ‘News’ Category

India Calls for Renegotiation of FTAs with Japan and South Korea to Address Trade Imbalance

India, Japan, News, South Korea, Trade Policy

July 27, 2023

India’s Trade Minister, Piyush Goyal, announced on Thursday that the country has requested Japan and South Korea to reconsider their existing free-trade agreements (FTAs) with India to ensure a more “balanced and equitable” trade relationship. The move comes in response to the widening trade gap between India and the two Asian nations. During an event […]

International Trade Council Announces Progress in Egypt-Serbia Free Trade Agreement Negotiations

Egypt, News, Trade Relations

July 27, 2023

The International Trade Council is pleased to announce the recent meeting between Egypt’s Minister of Trade and Industry, Ahmed Samir, and Serbia’s Minister of Domestic and Foreign Trade, Tomislav Momirovic. The meeting focused on the development of commercial, industrial, and investment cooperation relations between the two nations and discussed the current global economic situation. Negotiations […]

Cambodia Adopts New Rules of Origin Law Aligning with World Trade Organization Standards

Cambodia, News, Trade Relations

July 26, 2023

The International Trade Council is pleased to announce that Cambodia has recently ratified a new Rules of Origin (ROO) law on July 5, 2023, in alignment with World Trade Organization (WTO) benchmarks. Key Highlights of the New Law: Uniform Criteria for Product Source Identification: This legislation furnishes businesses with a comprehensive and uniform criterion for […]

Surecomp and ICE Digital Trade cement partnership to drive electronic trade document exchange

Digital Trade, News

July 26, 2023

Toronto, Canada, 25 July 2023 – Surecomp® today announced a strategic partnership with ICE Digital Trade, formerly known as essDOCS, to drive expanded digital trade finance capabilities for corporates, banks and other financial institutions. The technical integration between the two companies allows customers using Surecomp’s collaborative trade finance hub RIVO™ to seamlessly access, consume and […]

International Trade Council Announces Signing of Free Trade Agreement Between Vietnam and Israel

Middle East, News, Trade Agreements, Vietnam

July 25, 2023

The International Trade Council heralds the successful signing of a free trade agreement between Vietnam and Israel, culminating in seven years of detailed negotiations. Signed by the respective trade ministers, the agreement was marked with great optimism this Tuesday.   Predicted to rapidly increase annual bilateral trade by close to 50%, the deal is poised […]

Globalstar and Owaka safeguard 15,000 participants in record year for adventure and extreme sports events

Event Management, New Zealand, News

July 19, 2023

Highlights: Specialist tracking solutions provider Owaka has had a record-breaking year, with ever more organisers of sporting competitions and automotive rallies choosing reliable SPOT Gen4 GPS messengers and Globalstar satellites for participant tracking, communications and emergency support Owaka’s highly functional video and data platform helps race officials, as well as friends, family and sponsors, keep track of athletes’ progress […]

Philippines Introduces “Green Lanes” to Attract Foreign Direct Investments

Foreign Direct Investment, News, Philippines

July 13, 2023

In a move aimed at bolstering foreign direct investments (FDI), the Philippines officially launched its “green lanes” for significant strategic investments. The initiative, intended to attract capital inflow into the country, will streamline the process for obtaining necessary documents to establish businesses within the nation, according to the Department of Trade and Industry (DTI).   […]

Implementation of the Foreign Direct Investment (FDI) Regulation in Luxembourg

Foreign Direct Investment, Luxembourg, News

July 12, 2023

The International Trade Council hereby acknowledges the recent adoption by Luxembourg’s Chamber of Deputies of bill of law n°7885 on 13 June 2023. This bill puts into practice Regulation (EU) 2019/452, introducing a framework for screening foreign direct investments (FDI) into the EU. The law will be operative from 1 September 2023, joining Luxembourg with […]

Egypt Witnesses Growth in Foreign Direct Investment Inflow in 2022

Egypt, Foreign Direct Investment, News

July 8, 2023

The International Trade Council commends Egypt’s remarkable progress in attracting foreign direct investment (FDI) in 2022. The United Nations Conference on Trade and Development (UNCTAD) recently reported that Egypt received a total of $11.4 billion in FDI, marking the highest inflow since 2017. In line with its commitment to fostering an environment conducive to international […]

United Arab Emirates Achieves Record Foreign Direct Investment Inflow; Saudi Arabia Experiences Dip

Foreign Direct Investment, News, Saudi Arabia, United Arab Emirates

July 7, 2023

The International Trade Council observes recent developments in the foreign direct investment (FDI) landscape in the Middle East and North Africa (MENA) region. As reported by the United Nations Conference on Trade and Development’s (UNCTAD) 2023 World Investment Report, the United Arab Emirates (UAE) has achieved a historic milestone in FDI inflow, while Saudi Arabia […]

Surecomp named a Leader in IDC MarketScape on Trade Finance Systems

News, Trade Finance

July 5, 2023

Toronto, Canada, 4 July 2023 – Surecomp® today announced that it has been placed in the Leaders Category of the IDC MarketScape: Worldwide Trade Finance Systems 2023 Vendor Assessment (doc #US49436622, 28 June 2023).   The result of a rigorous and independent evaluation of eleven trade finance vendors, the IDC MarketScape states that “Surecomp is addressing the evolution […]

International Trade Council Highlights Japan’s Record Investment Projections For Fiscal 2023

Economic Development, Japan, News

June 23, 2023

The International Trade Council (ITC) acknowledges the latest findings by Nikkei that Japanese companies are on track to set a new record in capital investment, reaching 31.6 trillion yen ($223 billion) in the 2023 fiscal year. This represents an increase of 16.9% from the previous fiscal year across all industries. Based on the survey encompassing […]

ITC Comments On Turkish Central Bank’s Decision To Raise Interest Rates

Economic Development, News, Turkey

June 22, 2023

The International Trade Council (ITC) recognizes the substantial interest rate hike enacted by the Turkish Central Bank as an important move towards more traditional economic strategies to tackle persistent high inflation. The 6.5 percentage points increase to 15% signifies a shift in monetary policy and could be an early indicator of economic recovery. Despite the […]

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