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Archive for the ‘Trade Relations’ Category

AGOA Forum Set to Shape Future of U.S.-Africa Trade Relations

Africa, News, Trade Relations, United States

November 1, 2023

The African Growth and Opportunity Act (AGOA), a cornerstone of U.S.-Africa trade relations since 2000, will be the focal point of discussions at the upcoming AGOA Forum in Johannesburg. This year’s event is critical as it precedes the 2025 expiration of the program, sparking debates on its renewal, reform, and impact. Established under former […]

European Commission Initiates Investigation into Subsidized Chinese Electric Cars

China, Europe, News, Trade Relations

October 4, 2023

The European Commission has taken a significant step by launching an anti-subsidy investigation into the import of battery electric vehicles (BEVs) from China. The investigation’s primary objective is to assess whether value chains related to BEVs in China benefit from unlawful subsidization, and whether this subsidization poses a genuine economic threat to BEV producers within […]

UK Minister Addresses Prospects of Free Trade Agreement with U.S.

News, Trade Relations, United Kingdom, United States

October 3, 2023

MANCHESTER, England – British business and trade minister, Kemi Badenoch, has conveyed her perspective on the possibility of a free trade agreement (FTA) between the United Kingdom and the United States under President Joe Biden’s administration. She cited the President’s stance on such agreements as a key factor. President Biden has temporarily halted FTA […]

Türkiye and the United Kingdom Cement “Indispensable” Partnership, Paving the Way for Bilateral Prosperity

News, Trade Relations, Turkey, United Kingdom

September 14, 2023

The International Trade Council applauds the deepening partnership between Türkiye and the United Kingdom, as underscored by British Foreign Secretary James Cleverly during his recent visit to Ankara. The Council acknowledges the pivotal role that this strengthening alliance plays in fostering international cooperation and enhancing global security. In a meeting with Foreign Minister Hakan […]

Ethiopia’s National Bank Introduces Offshore Accounts to Encourage Strategic Foreign Direct Investments

Africa, News, Trade Relations

September 14, 2023

The National Bank of Ethiopia (NBE) has taken a significant step to boost foreign direct investment (FDI) by permitting the establishment of offshore accounts. This new directive aims to facilitate easier fund deposits from both equity and loan financing for approved projects and attract foreign currency into the Ethiopian economy. Scope of the New Directive […]

Saudi and Omani Firms Collaborate to Advance 3D Printing in Real Estate

Middle East, News, Trade Relations

September 13, 2023

Riyadh — Saudi research and development firm, Forming Future Co., has embarked on a strategic partnership with two subsidiaries of Oman’s ITHCA Group to promote the utilization of 3D printing technology within the real estate sector. The collaborative agreements involve InnoTech and Codeline, both entities operating under the umbrella of ITHCA Group, previously known as […]

Sri Lanka to Promote Free Trade as Head of IORA, Says Foreign Minister

News, South Asia, Trade Relations

September 13, 2023

Sri Lanka is poised to advance the cause of free trade among member nations of the Indian Ocean Rim Association (IORA) as it assumes the chairmanship of the organization, according to Foreign Minister Ali Sabry. The South Asian nation is set to take over the chairmanship for the 2023-25 term next month, with the group’s […]

Thai-EU FTA Negotiations Commence with Two-Year Timeline

Europe, News, Thailand, Trade Relations

September 13, 2023

Negotiations for a free-trade agreement (FTA) between Thailand and the European Union (EU), commonly referred to as the Thai-EU FTA, are set to commence next week with the aim of finalizing the agreement within a two-year timeframe. The Department of Trade Negotiations, operating under the Thai Commerce Ministry, will oversee these negotiations. Auramon Supthaweethum, […]

South Korea Advances International Agreements in Minerals and Electric Vehicles, Fueling EV Battery Manufacturing Ambitions

News, South Korea, Trade Relations

September 11, 2023

The International Trade Council commends South Korea for its proactive engagement in international talks and the signing of multiple agreements related to minerals and electric vehicles (EVs). These agreements align with South Korea’s ambitious goals for EV battery manufacturing and underscore the nation’s commitment to pursuing strategic initiatives despite challenges in its manufacturing sector. […]

United Kingdom Considers Establishing Joint Trade and Economic Committee with the Philippines

News, Philippines, Trade Relations, United Kingdom

August 19, 2023

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. […]

International Trade Council Addresses EU Trade Deficit with China

China, Europe, News, Trade Relations

August 8, 2023

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 […]

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 […]

ITC Extends Support for Ukraine’s Recovery at the Ukraine Recovery Conference 2023

News, Trade Relations, Ukrain

June 9, 2023

The International Trade Council (ITC) is honored to announce its participation in the Ukraine Recovery Conference (URC) 2023, slated to take place in London from June 21-22. This esteemed conference, co-hosted by the UK and Ukraine, marks an essential step in rallying international support for Ukraine’s post-conflict recovery. Continuing the cycle of annual events, this […]

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 […]

Mexico and US Seek Continued Dialogue on Trade Disputes

Mexico, News, Trade Relations, United States

December 2, 2022

The International Trade Council (ITC) acknowledges the recent proposal by Mexico’s economy secretary for further talks with the United States regarding the ongoing dispute over Mexico’s energy sector. The ITC supports the commitment of both nations to engage in dialogue to resolve their differences and avoid a full-fledged trade complaint under the U.S.-Mexico-Canada trade agreement. […]

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