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Stay Updated with the Latest News from the International Trade Council and Our Members

China Remains Papua New Guinea’s Leading Export Market, Reports Minister

July 31, 2024

Daisy

China remains the foremost export market for Papua New Guinea (PNG). During a recent groundbreaking ceremony for the Sea Park Development in Port Moresby, the Minister for International Trade and Investment emphasized China’s critical role in PNG’s export economy.   The Minister highlighted the robust trade relationship between the two nations, noting, “China is the […]

Egypt’s Non-Oil Trade Deficit Falls to $15.9 Billion in First Half of 2024

July 31, 2024

Daisy

Egypt’s non-oil trade deficit for the first half of 2024 has decreased to $15.9 billion. This marks a 16% improvement from the $18.9 billion deficit recorded during the same period in 2023.   During the initial six months of 2024, Egypt saw a notable 9.8% increase in merchandise exports, reaching $19.6 billion. In contrast, imports […]

New Report Aims to Boost SME Exporting

July 31, 2024

Daisy

The International Trade Council highlights a new initiative designed to invigorate exporting activities among small and medium-sized enterprises (SMEs). A recent report proposes measures to increase the number of small business exporters. An SME Export Taskforce was formed to tackle the low percentage of small firms—currently only 10%—engaged in international trade. The taskforce identified several […]

Thailand Set to Export 8.2 Million Tonnes of Rice Amid Robust Global Demand

July 31, 2024

Daisy

Thailand is on track to export 8.2 million tonnes of rice this year, an increase from the previously forecasted 7.5 million tonnes. This surge is attributed to strong demand from key markets and a weakening baht, according to the Commerce Ministry.   The Director-General of the Foreign Trade Department noted that rice exports in the […]

Pakistan Seeks New Export Opportunities in Afghanistan and Central Asia

July 30, 2024

Daisy

Pakistan is exploring new export markets in Afghanistan and Central Asia, according to recent statements from Commerce Minister Jam Kamal Khan. The minister emphasized that addressing existing “political and connectivity challenges” could significantly enhance trade opportunities with these regions.   Traditionally, Pakistan’s exports have been focused on Western economies, China, and the Gulf Cooperation Council […]

Dhaka Secures Approval for Mango Exports to China

July 30, 2024

Daisy

Dhaka has reached a notable achievement with the recent approval to export fresh mangoes to China, marking a significant expansion into a market that spent $172 billion on fruit imports in the first half of 2021.   This green light from China’s General Administration of Customs comes through ‘Announcement No. 94 of 2024,’ following the […]

India Approves Export of Non-Basmati White Rice to Namibia

July 30, 2024

Daisy

In a significant move, India has approved the export of 1,000 tonnes of non-basmati white rice to Namibia. This decision, announced on Monday, allows the export through a designated national cooperative despite a general ban on non-basmati white rice exports since July 20, 2023. The export ban was originally implemented to boost domestic supply.   […]

Historic Garlic Import Through Mongla Port

July 30, 2024

Daisy

In a historic first, 58 tonnes of garlic were imported through Mongla Sea Port on Sunday, as announced by the Deputy Director of Communication of the Mongla Port Authority in Dhaka on Monday.   A Singapore-flagged vessel docked at the port’s jetty, unloading a total of 229 TEU containers. Among these, two 40-foot containers were […]

Trade Balance Shows €80 Million Surplus in May

July 30, 2024

Daisy

The trade balance posted a surplus of €80 million in May 2024, according to the latest international trade in goods statistics released by Finnish Customs on Monday. Between January and May 2024, the trade balance accumulated a deficit of €2.0 billion. The overall trade surplus by commodity group, including products from the mechanical and chemical […]

Germany Selects Malaysia as a Key Trade Hub

July 29, 2024

Daisy

Germany has designated Malaysia as a significant export and trade hub, expanding its trade strategy beyond reliance on China. This move supports Germany’s derisking approach, which aims to minimize dependence on a single nation. Prime Minister Datuk Seri Anwar Ibrahim announced this shift, highlighting a notable increase in visits from foreign trade ministers to Malaysia. […]

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