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

Elevate Your Industry Knowledge at the Scotland Manufacturing Conference

September 22, 2024

Onyx

  Exhibition Highlights: The extensive exhibition area will showcase cutting-edge technologies, including Industry 4.0 innovations, 3D printing breakthroughs, and automation solutions. Attendees will also have the unique opportunity to learn about Thrust WSH’s ambitious pursuit of the World Water Speed Record, highlighting remarkable engineering and high-performance innovations.   Conference Themes: The conference will feature key […]

Vietnam Becomes Top ASEAN Exporter to EU, Boosted by Trade Agreement

August 2, 2024

Daisy

Vietnam has achieved a notable milestone as the leading ASEAN exporter to the European Union, showcasing the benefits of the EU-Vietnam Free Trade Agreement (EVFTA). This economic partnership has significantly contributed to growth, job creation, and enhanced access to European goods for Vietnamese consumers over the past four years.   The phased reduction of import […]

India Expands Export Channels to Maldives with New Port Approvals

August 2, 2024

Daisy

In a significant development aimed at strengthening trade relations, the Indian government has announced that essential commodities previously subject to restrictions can now be exported to the Maldives from Kandla and Vishakhapatnam ports. This update, applicable for the financial year 2024-25, brings the total number of ports authorized for these exports to six. The Directorate […]

Vietnam and India Strengthen Ties in Trade, Technology, and Security

August 2, 2024

Daisy

During a significant state visit to India, Vietnamese Prime Minister Phạm Minh Chính and Indian Prime Minister Narendra Modi engaged in meaningful discussions following a formal welcome at the Presidential Palace. The meeting underscored the deep and enduring relationship between the two nations, with a focus on expanding collaboration across several key sectors. Prime Minister […]

Southeast Asia Strengthens Domestic Industries Amid Surplus Imports

August 2, 2024

Daisy

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 […]

Unveiling the Latest Updates on the 7th China International Import Expo

August 2, 2024

Daisy

With less than 100 days remaining, the latest updates for the 7th China International Import Expo (CIIE) have been unveiled. Set to take place from November 5th to 10th, 2024, in Shanghai, preparations for the event are progressing smoothly with significant advancements already made. The previous edition of the CIIE in 2023 saw a large […]

Türkiye Launches Free Trade Agreement Talks with GCC

August 1, 2024

Daisy

Türkiye’s Trade Ministry has announced the start of negotiations for a Free Trade Agreement (FTA) with the Gulf Cooperation Council (GCC). The first round of talks was held in Ankara, marking a key step in this major trade initiative.   In March, the Trade Minister and the GCC Secretary-General signed an agreement to kick off […]

South Africa’s Strategy for Economic Growth Focuses on Manufacturing and Export Expansion

August 1, 2024

Daisy

Deputy Minister of Trade, Industry, and Competition, Andrew Whitfield, has emphasized the critical importance of manufacturing and export expansion for South Africa’s economic development. Speaking during a recent Budget Vote debate in the National Council of Provinces (NCOP), Whitfield highlighted the need for a manufacturing-centered approach to enhance economic stability and job creation. Whitfield outlined […]

Afghanistan’s Trade Data Reveals $1.8 Billion in Exports and $8 Billion in Imports, Signaling Trade Imbalance

August 1, 2024

Daisy

On July 31st, Afghanistan’s Ministry of Industry and Commerce issued a report detailing the country’s trade performance for the past year. The figures show $1.8 billion in exports and over $8 billion in imports, highlighting a substantial trade imbalance and a high reliance on foreign goods and services.   The report noted increases in exports […]

July Exports Surge 13.9% to $57.49 Billion, Achieving Trade Surplus

August 1, 2024

Daisy

In July, exports surged by 13.9% year-on-year, reaching $57.49 billion, while imports rose by 10.5% to $53.88 billion, resulting in a trade surplus of $3.61 billion. This performance marks the second-highest July figure on record and continues a strong upward trend that has lasted for ten consecutive months.   The notable export growth was driven […]

Policies to Expand Foreign Trade Boost Competitiveness

August 1, 2024

Daisy

As external demand and supportive policies improve, China’s trade in goods reached a new high in the first half of 2024, with overall foreign trade exceeding 21 trillion yuan ($2.9 trillion), and export growth in June of 10.7 percent year-on-year, exceeding all expectations.   The improving external demand and accelerated development of new business forms […]

Australian Wine Exports Hit AU$2.2 Billion Amid Diverse Market Trends

July 31, 2024

Daisy

The International Trade Council reports that Australian wine exports have reached a significant AU$2.2 billion, reflecting both positive developments and ongoing challenges in the market. This increase is largely attributed to a resurgence in exports to mainland China, where volumes jumped from 1 million litres to 33 million litres and the value surged by AU$392 […]

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 […]

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