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Archive for the ‘Trade Policy’ Category

South Korea Unveils Record $249 Billion Trade Policy Financing to Support Exporters

News, South Korea, Trade Policy

February 17, 2025

In an effort to support South Korean exporters, Acting President Choi Sang-mok announced a landmark plan to provide 360 trillion won (approximately $249.3 billion) in trade policy financing. The initiative aims to help businesses navigate the challenges posed by evolving global trade dynamics and increasing pressures from U.S. tariff policies. At a cabinet meeting […]

WTO Advanced Trade Policy Course Underway in Geneva

News, Switzerland, Trade Policy

October 24, 2024

An exciting opportunity is unfolding in Geneva, where 27 government officials from developing and least-developed countries are participating in the Advanced Trade Policy Course from October 14 to December 6. This eight-week program, organized by the WTO, aims to empower participants with essential knowledge of international trade and enhance their understanding of WTO agreements and […]

Southeast Asia Strengthens Domestic Industries Amid Surplus Imports

News, Southeast Asia, Trade Policy

August 2, 2024

Southeast Asian nations are taking proactive steps to bolster their domestic manufacturers and safeguard jobs by adjusting tariffs on low-cost imports. This strategic move is a response to the evolving global trade landscape and aims to ensure economic stability and growth in the region. Thailand, Indonesia, and Malaysia are at the forefront of this […]

New Export Duty on Parboiled Rice Proposed to Streamline Trade

News, Trade Policy

July 10, 2024

In a strategic move to streamline rice exports, the government is considering setting a fixed export duty of $100 per tonne on parboiled rice. This proposal aims to address issues of under-invoicing by exporters who currently face a 20% levy on this variety of rice. A committee, named the Rice Federation Consulting Committee, has […]

Indonesia Aims for OECD Membership to Boost Trade Prospects

Indonesia, News, Trade Policy

February 28, 2024

Indonesia is eyeing membership in the Organization for Economic Co-operation and Development (OECD) within the next two to three years, with the aim of enhancing its trade landscape, a senior cabinet minister announced Wednesday. As Southeast Asia’s largest economy, Indonesia sees OECD membership as a strategic move to attract increased investment and foster beneficial […]

WTO Director-General Urges Members to Forge Consensus as MC13 Nears Conclusion

News, Trade Policy

February 28, 2024

As the 13th Ministerial Conference (MC13) in Abu Dhabi approaches its closing session, WTO Director-General Ngozi Okonjo-Iweala commended members for the significant progress achieved during the intensive three-day meeting. With less than 24 hours remaining, she urged ministers to intensify their efforts and bridge remaining gaps on critical issues. Speaking at a meeting of […]

Iceland Boosts Participation of Least-Developed Countries in WTO Ministerial Conference

News, Trade Policy

February 25, 2024

In a gesture of support for inclusivity and equitable representation, Iceland has announced a contribution of CHF 20,000 to facilitate the participation of government officials from least-developed countries (LDCs) in the upcoming 13th WTO Ministerial Conference (MC13). Set to take place from 26 to 29 February in Abu Dhabi, United Arab Emirates, MC13 holds significant […]

European Commission Unveils Plans to Strengthen EU Economic Resilience

Europe, News, Trade Policy

January 23, 2024

In an effort to bolster the economic resilience of the European Union, the European Commission is set to reveal comprehensive plans that highlight increased scrutiny of foreign investments and stricter controls on exports and technology outflows, with a particular focus on rivals like China. The EU executive will present an extensive document for discussion, accompanied […]

Renowned Scholar Cheong In-kyo Appointed as South Korea’s New Trade Minister

News, South Korea, Trade Policy

January 10, 2024

Cheong In-kyo, a distinguished scholar in global trade, has been appointed as Korea’s new trade minister, marking a significant development in the realm of international commerce. With a strong background in economic security and extensive experience in crucial free trade agreement negotiations, Cheong is poised to make a notable impact in his new role. […]

Florida Breaks Ground as FDA Grants Approval for Prescription Drug Imports from Canada

Canada, News, Trade Policy

January 5, 2024

In a landmark move, the U.S. Food and Drug Administration (FDA) has granted Florida the green light to directly import prescription drugs from Canada, marking the state as the first to gain approval for a strategy aimed at potentially reducing medication prices. The decision comes as a response to the considerable cost disparity between drug […]

Spain Ensures Policy Continuity with Cuerpo’s Appointment as Economy Minister

News, Spain, Trade Policy

December 29, 2023

In a strategic move signaling continuity in economic policies, Spanish Prime Minister Pedro Sanchez has appointed Carlos Cuerpo as the new Economy and Trade Minister, succeeding the outgoing Nadia Calvino. Cuerpo, a 43-year-old close ally of Calvino, affirmed in his inaugural speech that his approach would align with the successful policies of his predecessor. […]

U.S. Extends Steel and Aluminum Tariff Rate Quotas for European Union, Reflecting Biden Administration’s Economic Priorities

News, Trade Policy, United States

December 28, 2023

In a significant update, U.S. Secretary of Commerce Gina M. Raimondo issued a statement following President Biden’s signing of two Presidential Proclamations, prolonging the European Union’s access to U.S. tariff rate quotas (TRQs) for steel and aluminum for an additional two years. Secretary Raimondo underscored President Biden’s economic agenda, which places a strong emphasis […]

U.S. President Joe Biden Prolongs EU Tariff Suspension, Nurturing Trade Relations

Europe, News, Trade Policy, United States

December 28, 2023

In a move to foster ongoing negotiations and collaboration, U.S. President Joe Biden announced on Thursday the extension of the suspension of tariffs on European Union steel and aluminum for an additional two years. This decision underscores the commitment of both the United States and the European Union to finding comprehensive solutions to address challenges […]

US and Mexico Strengthen Collaboration to Address Migration Challenges

Mexico, News, Trade Policy, United States

December 28, 2023

In a collaborative effort to address the escalating issue of record migration at their shared border, the United States and Mexico have pledged to enhance cooperation, as announced in a joint statement following high-level talks. The discussions, which took place after U.S. Secretary of State Antony Blinken’s visit to Mexico, focused on strategies to manage […]

EU and Kenya Forge Strong Economic Partnership Agreement with Emphasis on Sustainability

Europe, News, Trade Policy

December 20, 2023

In a momentous development for international trade, the European Union (EU) and Kenya have officially signed an Economic Partnership Agreement (EPA). This landmark agreement is designed to bolster bilateral trade in goods, promote increased investment flows, and foster sustainable economic growth. Distinguished by its comprehensive approach to sustainability, the EPA represents the most ambitious […]

China Aims to Boost Integrated Development of Trade

China, News, Trade Policy

December 20, 2023

China, one of the world’s largest consumer markets and the leading global goods trader, is pushing forward with efforts to promote the integrated development of both domestic and foreign trade. A recent circular released by the General Office of the State Council outlines 18 measures designed to accelerate this integrated development. Officials from various […]

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