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

New Export Duty on Parboiled Rice Proposed to Streamline Trade

July 10, 2024

Daisy

In a strategic move to streamline rice exports, the government is considering setting a fixed export duty of $100 per tonne on parboiled rice. This proposal aims to address issues of under-invoicing by exporters who currently face a 20% levy on this variety of rice.   A committee, named the Rice Federation Consulting Committee, has […]

Nigeria’s Role in Intra-Africa Trade Highlights Regional Growth

July 10, 2024

Daisy

Nigeria has maintained its position as the fourth-largest contributor to intra-Africa trade in 2023, according to the Africa Trade Report 2024. The report indicates a slight decline in Nigeria’s intra-Africa trade volume, totaling $8 billion compared to $8.2 billion the previous year. Despite this decrease, Nigeria continues to account for a significant share of 4.2% […]

Indonesia Initiates Task Force with Business Chamber to Address Import Data Challenges

July 10, 2024

Daisy

Indonesia’s Trade Ministry, under the leadership of Minister Zulkifli Hasan, has teamed up with the Indonesian Chamber of Commerce and Industry (Kadin) to launch a collaborative task force aimed at resolving discrepancies in import data. This joint effort comes in response to concerns over discrepancies between data reported by Statistics Indonesia (BPS) and exporting countries. […]

Vietnam’s Export-Import Activities Boost State Budget in First Half of 2024

July 10, 2024

Daisy

Vietnam’s state budget received a substantial uplift from export-import activities, amounting to 200.46 trillion VND (8.35 billion USD) in the first half of 2024, reflecting an 8.4% increase from the previous year. This achievement, highlighted by the General Department of Vietnam Customs (GDVC) on July 9, underscores the nation’s strong trade performance amid a dynamic […]

China’s Exports Show Resilient Growth Amid Global Trade Challenges

July 10, 2024

Daisy

China is poised to report a robust surge in exports for June, marking the sharpest growth in fifteen months. Analysts attribute this acceleration to proactive measures by manufacturers, who are ramping up shipments in anticipation of potential tariffs from key export markets. According to a recent poll of 31 economists, exports are expected to have […]

Canada’s Growing Dependence on Food Imports Highlights Shift in Consumption Patterns

July 9, 2024

Daisy

A recent report by economist Graeme Crosbie, commissioned by a national financial institution, highlights a significant trend in Canada’s food consumption patterns. Over the past two decades, Canada has increasingly relied on imported food, reducing its reliance on domestically produced goods.   At the turn of the century, Canadian-produced food accounted for 80% of total […]

Southeastern Vietnam Shows Strong Export Growth in Jan-May

July 9, 2024

Daisy

Vietnam’s southeastern region, comprising Dong Nai and Binh Duong provinces, key gateways to Ho Chi Minh City, continues to drive the nation’s economic growth with impressive export performance in the first five months of this year. According to official data, Binh Duong province achieved nearly $13.8 billion in exports, marking a 13% increase compared to […]

Thailand Enhances Agricultural Exports to Shanghai Market

July 9, 2024

Daisy

Thailand is set to elevate its export criteria and agricultural product standards, reinforcing the credibility and quality of the “Made in Thailand” brand. This commitment was announced by the Agriculture and Cooperatives Minister on Monday following a meeting with the chairman of an international trade promotion council in Shanghai.   The meeting, part of an […]

China Yet to Become Major Export Destination for Bangladesh

July 9, 2024

Daisy

Despite a decade of generous preferential trade benefits, China has not emerged as a significant export destination for Bangladesh. In contrast, India and Japan have proven to be valuable export markets for Bangladeshi goods over the years.   According to data from the Export Promotion Bureau (EPB), Bangladesh’s exports to Japan reached $1.69 billion in […]

Export-Import Trade Flourishes at Key Seaport

July 9, 2024

Daisy

A major seaport in Bangladesh has experienced significant growth in export-import trade during the fiscal year 2023-24 compared to the previous fiscal year. In FY2022-23, the port saw the arrival of 827 ships. This number rose to 846 ships in FY2023-24, surpassing the target of 840 ships by 6. This data was revealed in a […]

Egypt’s Non-Petroleum Trade Deficit Shrinks by 22.9% in Q1 2024

July 8, 2024

Daisy

The Cabinet’s Information and Decision Support Center has revealed a positive development in Egypt’s non-petroleum trade deficit for the first quarter of 2024, marking a 22.9% decrease to $6.4 billion compared to approximately $8.3 billion in Q1 2023. This improvement is attributed to increased non-petroleum exports coupled with reduced non-petroleum imports. During Q1 2024, Egypt’s […]

Bangladesh Plans Shift from Rice Imports to Exports, Says Food Minister

July 8, 2024

Daisy

Bangladesh’s Food Minister, Sadhan Chandra Majumder, announced that the country will focus on exporting rice instead of importing it in the future.   “In the past two years, our government has refrained from importing rice, and this year, there is no necessity for rice imports,” he stated during the inauguration of the Agriculture Technology Fair-2024 […]

IceFish 2024: Iceland Gears Up for Premier Fisheries, Seafood, and Aqua Exhibition

July 8, 2024

Daisy

Reykjavik, Iceland – The 14th Icelandic Fisheries Exhibition, known as IceFish, is set to captivate industry professionals and enthusiasts alike from September 18-20, 2024, at the Smárinn, Fifan Halls in Kópavogur, Iceland. This biennial event serves as a cornerstone for Iceland’s thriving seafood and aquaculture sectors, showcasing cutting-edge technologies, innovative products, and sustainable practices shaping […]

Vietnam’s Exports Surge in First Half of 2024, Driving Trade Surplus

July 8, 2024

Daisy

Vietnam has reported a significant surge in exports during the first half of 2024, leading to a notable trade surplus. This growth has been fueled by both the domestic and foreign-invested sectors   The domestic economic sector experienced a remarkable 20.6% increase in exports, reaching $53 billion USD, which represents 28% of the country’s total […]

India and UK Set to Resume Talks on Proposed Free Trade Agreement

July 8, 2024

Daisy

Senior officials from India and the United Kingdom are scheduled to meet this month to advance discussions on a proposed free trade agreement (FTA). This development comes after the formation of a new government in the UK, with both nations eager to resolve outstanding issues and finalize the negotiations.   The FTA talks, which began […]

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