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Rice Imports Rise in January: Philippines Adapts to Changing Conditions

February 6, 2024

Agricultural Trade, News, Philippines

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Recent data from the Department of Agriculture’s Bureau of Plant Industry (DA-BPI) reveals an uptick in rice imports in the Philippines during January 2024. According to reports, inbound shipments of rice reached 268,006 metric tons (MT) by January 25, marking a 6.15% increase compared to the same period last year. Despite this growth, the […]

China’s Robust Commodity Imports Signal Strong Start to New Year

February 6, 2024

China, Global Trade, News

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China has kicked off the new year with a surge in imports across major commodities, indicating a robust beginning amid economic caution surrounding the Lunar New Year holidays. Despite the upcoming Lunar New Year falling in February this year, traders and end-users seem to have accelerated purchases in January. The week-long holidays, from Feb. […]

China Strengthens NEV Industry Amidst Global Trade Scrutiny

February 6, 2024

China, Global Trade, News

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In response to recent global trade regulations and inquiries, the Ministry of Commerce has unveiled proactive measures to bolster the new energy vehicle (NEV) sector. Emphasizing collaboration with international partners, the guidelines aim to enhance global cooperation while navigating challenges such as ongoing investigations into subsidies for the NEV industry. Encouraging NEV manufacturers to […]

Global Review of Aid for Trade 2024 Emphasizes Mainstreaming Trade into Development Strategies

February 6, 2024

Global Trade, News

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The forthcoming Global Review of Aid for Trade, slated for 26 to 28 June at the WTO, will spotlight the theme of “Mainstreaming Trade,” announced during a recent Committee on Trade and Development meeting. This biennial event serves as a pivotal platform to address the needs of developing economies and least developed countries (LDCs) in […]

Bangladesh Turns to Indian Potato Imports to Stabilize Market Prices

February 5, 2024

Agricultural Trade, Bangladesh, News

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In a bid to address soaring prices and ensure market stability, the Bangladesh government has authorized the import of 34,000 tons of potatoes from India. This strategic move has already led to a significant reduction in retail prices, with costs dropping from Taka 40-45 to Taka 25-30 per kg. Anticipating the upcoming Ramadan season, 49 […]

Agro-Forestry-Fishery Exports in January See Impressive 80% Surge

February 5, 2024

Agricultural Trade, News

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Vietnam’s agro-forestry-fishery exports have kicked off the year on a remarkable note, with January witnessing an outstanding 80% increase in exports compared to the same month last year. According to the Ministry of Agriculture and Rural Development (MARD), the total export value in January reached $5.14 billion, while imports amounted to $3.72 billion, resulting in […]

Ukraine Urges Government to Safeguard Access to EU Market for Agricultural Exports

February 5, 2024

Europe, International Trade, News, Ukrain

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Ukraine’s agricultural unions are urging their government to take all necessary steps to safeguard their unhindered access to the European market for their food products, according to a statement by the UCAB association on Monday. In a recent announcement, the European Commission extended the suspension of import duties on Ukrainian exports, which was initially […]

Taiwan Assures Minimal Impact from Red Sea Disruptions on Trade

February 5, 2024

International Trade, News, Taiwan

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Taiwanese companies appear to be weathering the disruptions in the Red Sea’s crucial shipping lane without significant impact, as these disturbances coincide with the traditional low season in export demand, according to Economy Minister Wang Mei-hua’s statement on Monday. The Red Sea route has seen certain shipping companies suspending transit to avoid potential attacks […]

EU Emphasizes Support for Solar Industry Amid Import Concerns

February 5, 2024

Europe, News, Renewable Energy

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The European Union is prioritizing its ambitious solar power targets as it assesses potential measures to address imports of photovoltaic panels, wafers, and related components, according to a senior EU official’s statement on Monday. European Commissioner Mairead McGuinness emphasized that the EU is actively developing a comprehensive toolkit to bolster the solar industry, considering […]

UK Minister Engages with U.S. Officials to Promote Northern Ireland’s Renewed Government and Economic Opportunities

February 5, 2024

News, United Kingdom, United States

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Chris Heaton-Harris, the British minister for Northern Ireland, is set to journey to Washington to hold discussions with U.S. lawmakers regarding the reinstatement of the province’s devolved government. In addition to addressing this pivotal development, he will also highlight the economic potential of Northern Ireland, as stated by his department on Tuesday. Northern Ireland, […]

Japan Continues Subsidies to Boost Memory Chip Production

February 5, 2024

Japan, News, Technology

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The Japanese Ministry of Industry announced on Tuesday its intention to extend subsidies amounting to 242.9 billion yen ($1.64 billion) to support efforts to expand memory chip production in Mie and Iwate prefectures. This financial support serves as a lifeline for companies facing challenges due to a downturn in the NAND flash chip market. […]

Turkey Explores Opportunities to Broaden Export Horizons in China

February 4, 2024

China, International Trade, News, Turkey

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A Turkish delegation, led by Tayfun Kilic, Deputy Director General of the Turkish Ministry of Trade, along with key industry representatives, embarked on an inaugural visit to the China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce, and Animal By-Products on January 29th. During this visit, the two sides engaged in […]

Egyptian Exports to Libya See Remarkable Growth in 2023

February 4, 2024

Egypt, International Trade, News

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In a recent report published by the Central Agency for Public Mobilization and Statistics in Egypt, a substantial surge in Egyptian exports to Libya during the first 11 months of 2023 has come to light, indicating a promising trend in bilateral trade. According to the report, Egyptian exports to Libya reached an impressive total […]

Thailand and Sri Lanka Forge Strategic Trade Alliance to Fuel Economic Recovery

February 3, 2024

News, Sri Lanka, Thailand, Trade Agreements

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In a significant move aimed at revitalizing their economies, Thailand and Sri Lanka have sealed a Free Trade Agreement (FTA). Sri Lanka, grappling with its most severe financial crisis in decades, hopes this strategic partnership will be a lifeline for its economy. With the World Bank estimating a contraction of 3.8% in Sri Lanka’s […]

Tajikistan Boosts Potato and Fruit Imports to Enhance Variety and Availability

February 1, 2024

Agricultural Trade, News

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In the year 2023, Tajikistan witnessed a notable increase in the import of potatoes and fruits, despite reports from the Committee on Food Security indicating a rise in domestic production of these agricultural products. Tajikistan celebrated a record-breaking fruit harvest of approximately 665,000 tons, which represented a substantial 30% growth compared to the previous […]

Japanese Crude Oil Imports Maintain Steady Supply from Saudi Arabia

February 1, 2024

Energy Trade, Japan, News, Saudi Arabia

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Japan has consistently maintained a substantial share of its crude oil imports from Saudi Arabia, accounting for about 44 percent of its total oil requirements, totaling approximately 36.28 million barrels. This information, sourced from the Agency of Natural Resources and Energy within the Ministry of Economy, Trade and Industry, underscores Saudi Arabia’s reliability as a […]

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