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December 2024
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Stay Updated with the Latest News from the International Trade Council and Our Members

Korea’s Cosmetic Exports Reach Record-Breaking $9.3 Billion, Boosting Global Trade

December 2, 2024

Jessica Jumaway

Korea’s cosmetic industry has achieved a significant milestone, with exports soaring to a record $9.3 billion from January to November 2024, according to the Ministry of Food and Drug Safety. This remarkable achievement surpasses the previous high of $9.2 billion in 2021, reflecting the growing global admiration for Korean beauty products and their influence on […]

Vietnam Agricultural Exports Poised for Record Growth in 2024

December 2, 2024

Jessica Jumaway

Vietnam’s agricultural sector is set to reach new heights in 2024, with exports projected to achieve a remarkable $60-61 billion in revenue, marking a significant increase from last year. This growth underscores the strength and competitiveness of Vietnam’s agricultural products on the global market.   Key sectors are driving this impressive expansion, with durians, often […]

Greece’s Tomato Exports Set to Surge, Boosting Trade Opportunities

December 2, 2024

Jessica Jumaway

Greece is set to experience a significant boost in its tomato exports starting December 15th, following a challenging growing season. A hot summer and water shortages had initially delayed the harvest, but with production now on the rise, the country is prepared to meet increasing international demand, creating new trade opportunities for Greece’s agricultural sector. […]

New Zealand Avocado Exports Poised for Strong Recovery in 2025

December 2, 2024

Jessica Jumaway

New Zealand’s avocado exports are set for a positive turn in 2025, with expectations of a stronger market performance. After a challenging year for local growers, production in neighboring Australia and Peru is forecasted to decline, giving New Zealand a prime opportunity to increase its international market share.   Australia experienced a surge in avocado […]

Indonesia and Canada Strengthen Trade Relations with Comprehensive Economic Partnership Agreement

December 2, 2024

Jessica Jumaway

Indonesia and Canada have signed a landmark Comprehensive Economic Partnership Agreement (CEPA), signaling a commitment to deepen economic ties and foster sustainable trade growth. This milestone agreement, finalized after three years of negotiations, will take effect in 2026 and aims to create a more predictable and mutually beneficial trade relationship between the two G20 nations. […]

Morocco Achieves Remarkable Export Growth Across Aerospace and Automotive Sectors

December 1, 2024

Jessica Jumaway

Morocco has experienced impressive export growth in several key industries, including aerospace, automotive, and phosphate products, during the first ten months of 2024.   The aerospace sector saw a notable 17.3% increase in exports, reaching $2.16 billion, driven by a 26.9% surge in the assembly segment, which accounted for $1.43 billion. The country’s strong political […]

China’s Factory Activity Growth Reaches 5-Month High, Boosting Optimism for Global Trade

December 1, 2024

Jessica Jumaway

China’s manufacturing sector showed strong improvement in November, with factory activity expanding at the fastest pace in five months. According to the Caixin/S&P Global Manufacturing Purchasing Managers’ Index (PMI), the index rose to 51.5, up from 50.3 in October, marking the highest level since June. This positive trend signals a solid rebound in China’s manufacturing […]

India’s Strategic Initiatives Propel Banana Exports to Europe to New Heights

November 29, 2024

Daisy

In a remarkable feat of strategic planning and infrastructure development, India is making significant strides in expanding its fresh fruit exports, particularly bananas, to European markets. Despite the geographical distance, the country has set an ambitious target of achieving one billion dollars in exports, showcasing a commitment to leveraging its agricultural potential through innovative approaches. […]

Canada and Taiwan Strengthen Economic Ties with Landmark Investment Agreement

November 29, 2024

Daisy

In a significant move towards enhancing economic collaboration, Taiwan and Canada formally sealed a bilateral investment deal on Friday. This accord not only reinforces the Taiwanese government’s commitment to fostering business partnerships with like-minded democratic allies but also paves the way for potential inclusion in a major pan-Pacific trade pact.   Taiwan, seeking increased diplomatic […]

Canada Advocates for Unified Trade Policy Among North American Partners on China

November 29, 2024

Jessica Jumaway

Canada is emphasizing the importance of stronger collaboration between the United States, Mexico, and Canada to create a unified approach to trade policies regarding China. Finance Minister Chrystia Freeland expressed confidence that the three nations have a valuable opportunity to align their strategies, ensuring a fair and competitive trade environment in North America.   Speaking […]

WTO Director-General Ngozi Okonjo-Iweala Reappointed for Second Term, Strengthening Global Trade Leadership

November 29, 2024

Jessica Jumaway

The World Trade Organization (WTO) General Council has reappointed Dr. Ngozi Okonjo-Iweala as Director-General for a second four-year term, set to begin on September 1, 2025. This decision underscores her exceptional leadership and significant contributions to advancing the global trade agenda.   Throughout her first term, Dr. Okonjo-Iweala played a pivotal role in guiding the […]

Moldova Expands Grape Exports, Strengthening Trade with the EU

November 28, 2024

Jessica Jumaway

Moldova’s grape sector is achieving unprecedented success, with exports to the European Union (EU) now accounting for 74% of its total, up from 36% in 2021. This positive shift reflects Moldova’s dedication to enhancing its agricultural trade and tapping into new global markets.   In the first ten months of 2024, the value of grape […]

Benin Strengthens Global Trade Prospects with Pineapple Exports to China

November 28, 2024

Jessica Jumaway

Benin’s vibrant pineapple industry is poised for a significant leap in global trade as exporters prepare to expand their market reach to China. Currently, the West African nation exports around 85% of its premium-quality pineapples to France. However, new developments in infrastructure and strategic discussions are paving the way for a diversified export portfolio.   […]

Germany Invests in Semiconductor Industry to Bolster Trade and Innovation

November 28, 2024

Jessica Jumaway

Germany is taking a significant step to enhance its semiconductor industry and strengthen its role in global trade. The government has announced plans to allocate billions of euros in subsidies to support advanced chip production, a move designed to boost technological innovation and reinforce Europe’s position in the global semiconductor market.   The initiative aligns […]

China’s Manufacturing Sector Shows Modest Expansion in November

November 28, 2024

Jessica Jumaway

China’s manufacturing activity is expected to continue its modest growth in November, marking the second consecutive month of expansion. Following a series of stimulus measures designed to bolster the world’s second-largest economy, the official Purchasing Managers’ Index (PMI) is projected to rise to 50.2, slightly higher than October’s reading of 50.1. A PMI above 50 […]

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