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

Philippines and Cambodia Forge Stronger Rice Trade Partnership

March 4, 2024

Daisy

In a bid to bolster their rice trade amidst the challenges posed by the current El Niño phenomenon, the Philippines and Cambodia have pledged to strengthen their collaboration in agricultural trade, particularly focusing on rice.   During a meeting between President Ferdinand Marcos Jr. and Cambodian Prime Minister Hun Manet on March 4, 2024, on […]

South Africa Launches Safeguard Investigation on Flat-Rolled Steel Products

March 4, 2024

Daisy

South Africa has initiated a safeguard investigation into certain flat-rolled products of iron, non-alloy steel, or other alloy steel, as reported to the WTO’s Committee on Safeguards on February 29, 2024.   In this notification, South Africa outlined the procedure for interested parties to participate in the investigation. Interested parties are required to make themselves […]

Vietnam’s Fruit and Vegetable Exports Surge by 38%

March 4, 2024

Daisy

Vietnam’s fruit and vegetable exports have witnessed a remarkable increase of 38%, totaling approximately $749.7 million in the first two months of the year. Projections indicate a promising outlook for the industry, with expectations of reaching a peak near $7 billion by the end of the year. The sector’s growth momentum is anticipated to persist […]

U.S. Corn and Soy Crucial for Boosting Red Meat Exports

March 4, 2024

Daisy

At the recent Commodity Classic event, thousands of growers convened to discuss industry trends and developments. Among them was Randy Spronk, Chair of the U.S. Meat Export Federation (USMEF) and a prominent pork and grain producer from Edgerton, Minn. Together with other USMEF leaders, Spronk expressed gratitude to corn and soybean producers for their invaluable […]

Uzbekistan’s Cabbage Exports Surge in January 2024

March 4, 2024

Daisy

In January 2024, Uzbekistan’s cabbage exports experienced a notable upturn, with shipments totaling 29,100 tons and yielding a revenue of 7 million US dollars, according to recent data released by the Statistics Agency. This surge reflects a substantial financial growth of 4.6 million US dollars compared to the corresponding period in the previous year.   […]

Turkey Achieves Record-High February Exports, Marking Positive Economic Momentum

March 3, 2024

Daisy

Turkey has reached a significant milestone in its export sector, with official data revealing a record-high volume of exports in February, contributing to the country’s positive economic trajectory in recent months. The nation concluded 2023 on a high note, boasting a record of $255.8 billion in outbound shipments.   Trade Minister Ömer Bolat announced that […]

Australia’s Maritime Security Initiative Elevates Trade Confidence in Southeast Asia

March 3, 2024

Daisy

Australia’s recent announcement of increased funding for maritime security initiatives in collaboration with ASEAN countries holds significant implications for regional trade dynamics.   During a crucial summit with the Southeast Asian bloc, Australia unveiled a substantial investment of A$64 million ($41.8 million) over four years, including A$40 million in new funding. This infusion of resources […]

China’s Used Vehicle Exports Surge, Expanding Global Market Reach

March 3, 2024

Daisy

In a noteworthy development, China has seen a remarkable uptick in the export of used cars over the past five years, as reported by the People’s Daily Online.   Since the initiation of a pilot program in 2019 designed to facilitate the export of used automobiles, China has experienced a staggering growth of over 250 […]

South Africa Joins Global Efforts for Sustainable Fisheries

March 1, 2024

Daisy

In a significant move towards promoting sustainable trade practices, South Africa formally deposited its instrument of acceptance of the Agreement on Fisheries Subsidies on 1st March. The Minister of Trade and Industry, Ebrahim Patel, presented South Africa’s acceptance to Director-General Ngozi Okonjo-Iweala at the closing session of the 13th Ministerial Conference (MC13) held in Abu […]

Indonesia Aims for OECD Membership to Boost Trade Prospects

February 28, 2024

Daisy

Indonesia is eyeing membership in the Organization for Economic Co-operation and Development (OECD) within the next two to three years, with the aim of enhancing its trade landscape, a senior cabinet minister announced Wednesday.   As Southeast Asia’s largest economy, Indonesia sees OECD membership as a strategic move to attract increased investment and foster beneficial […]

U.S. Trade Chief Offers Insights on WTO Negotiations

February 28, 2024

Daisy

U.S. Trade Representative Katherine Tai provided an update on the ongoing negotiations at the World Trade Organization (WTO), indicating that while an agreement on reforming dispute settlement appeals was not expected this week, progress was evident, and the atmosphere remained constructive.   The impasse in the WTO’s dispute settlement system, attributed to the U.S. blocking […]

US Spirits Exports Surge Amid Tariff Suspension by EU

February 28, 2024

Daisy

In a positive turn of events for the spirits industry, exports of American spirits experienced a notable 8% increase in 2023, totaling $2.2 billion, as reported by the Distilled Spirits Council of the United States. This surge followed the European Union’s decision to suspend the 25% retaliatory tariffs on American whiskey.   The tariff suspension, […]

Malaysia Set to Forge Free Trade Accord with UAE in June

February 28, 2024

Daisy

Malaysia is poised to join the ranks of nations deepening economic ties with Abu Dhabi as it gears up to sign a Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE) by June, according to Malaysia’s trade minister.   Trade Minister Tengku Zafrul Aziz disclosed in an interview with Reuters in Abu Dhabi […]

Korea Aims for Ambitious Export Target with Focus on Chip and Car Shipments

February 28, 2024

Daisy

In a strategic move to bolster its export sector, Korea has set its sights on achieving an annual outbound shipment target of $700 billion, signaling a strong commitment to economic growth. The announcement came from the industry ministry on Wednesday, outlining plans to provide comprehensive policy and financial support to key industries, particularly chips and […]

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