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In ongoing negotiations to finalize a trade agreement between the European Union and South America’s Mercosur bloc, Argentina and Brazil have jointly requested €12.5 billion (approximately $13.2 billion) in financial assistance from the European Union, as per a document seen by Reuters. The request aims to secure support to mitigate the potential challenges posed by […]

October 20, 2023

Daisy

Malaysia, News, Trade Agreements

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At the ASEAN-GCC Summit held in Saudi Arabia, Malaysia’s Prime Minister, Anwar Ibrahim, unveiled a groundbreaking proposal for the creation of a free trade agreement (FTA) between the Association of Southeast Asian Nations (ASEAN) and the Gulf Cooperation Council (GCC). This visionary agreement, if realized, would mark a historic first between ASEAN nations and the […]

October 20, 2023

Daisy

Europe, Germany, International Trade, News

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In a significant move to empower developing and least-developed economies (LCDs) in the realm of global trade negotiations, the German government has pledged EUR 500,000 (approximately CHF 480,000). This generous contribution was formalized through the signing of a Memorandum of Understanding by Germany’s Alternate Permanent Representative to the World Trade Organization (WTO), Bettina Waldmann, on […]

October 20, 2023

Daisy

China, International Trade, News, Sri Lanka

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In a recent development, China has expressed its willingness to assist Sri Lanka without imposing any political conditions and has also pledged to increase its imports from the island nation. Chinese President Xi Jinping conveyed this commitment during a meeting with Sri Lankan President Ranil Wickremesinghe in Beijing, as reported by state media.   This […]

Bipartisan efforts are underway in the U.S. Senate to introduce legislation aimed at strengthening the enforcement of oil sanctions on Iran. Senator Joni Ernst, a Republican, is leading the charge for this bill, set to be unveiled on Monday. The proposed legislation seeks to establish a $150 million Iranian sanctions enforcement fund specifically designated for […]

In a recent development, China has expressed its willingness to assist Sri Lanka without imposing any political conditions and has also pledged to increase its imports from the island nation. Chinese President Xi Jinping conveyed this commitment during a meeting with Sri Lankan President Ranil Wickremesinghe in Beijing, as reported by state media.   This […]

In a bid to foster cooperation and tackle trade disputes, European Council President Charles Michel emphasized the need for the European Union and the United States to work together to find mutually beneficial solutions. This statement comes as top EU officials embark on a diplomatic mission to Washington with the aim of reaching agreements that […]

October 19, 2023

Daisy

News, Trade Policy

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Ambassador Usha Dwarka-Canabady of Mauritius, the facilitator of the Work Programme on Electronic Commerce at the World Trade Organization (WTO), conducted a dedicated session on October 18th to gather member input on the forthcoming 13th Ministerial Conference (MC13). During the meeting, Ambassador Dwarka-Canabady reported on her consultations with WTO members regarding potential outcomes at MC13 […]

October 19, 2023

Daisy

Agricultural Trade, News

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The International Trade Council brings into focus the ongoing crisis faced by the global grain market due to the unyielding low water predicaments on the Mississippi River, despite NOAA’s forecasts of potential drought improvement in the Southern US over the coming winter.   The National Oceanic Atmospheric Administration (NOAA) highlighted in its recent U.S. winter […]

October 18, 2023

Daisy

International Trade, News

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In a significant development, the United States has decided to ease broad sanctions on Venezuela’s oil sector, a move that could have notable implications for the country’s oil industry and its struggling economy. However, experts caution against expecting an immediate surge in oil production, emphasizing that the primary impact will be on profitability and the […]

October 18, 2023

Daisy

Canada, News, Trade Agreements

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  Recent developments in the relationship between ASEAN (the Association of Southeast Asian Nations) and Canada are paving the way for a promising future marked by strengthened economic cooperation. During the ASEAN Summit held in late September, Canada achieved official recognition as a strategic partner, a significant milestone in the growing alliance between the two […]

October 18, 2023

Daisy

International Trade, Japan, News

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In a remarkable turn of events, Japan’s exports have surged to record-breaking levels in September, marking the first upswing in three months. This impressive feat can be attributed to the resurgence of Japanese automakers who have intensified shipments to the United States and Europe, capitalizing on their newfound freedom from the global chip shortage that […]