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

China Eastern Airlines Fuels Chilean Cherry Export Boom, Strengthens Trade Ties with China

December 4, 2024

Jessica Jumaway

The strong partnership between Chile and China continues to thrive, with China Eastern Airlines at the forefront of facilitating agricultural trade. During the Chile Week event in Beijing, the growing demand for Chilean cherries in China took center stage, highlighting a remarkable success story in global trade.   In 2023, Chile’s forestry and agricultural exports […]

Kazakhstan Strengthens Global Trade Role with Expanded Oil Exports

December 4, 2024

Jessica Jumaway

Kazakhstan is solidifying its position as a vital energy partner for the European Union, exporting over 70% of its oil to EU countries. As the bloc’s third-largest non-OPEC oil supplier, the nation is scaling up efforts to meet growing demand and strengthen its presence in international trade.   Energy Minister Almasadam Satkaliyev announced plans to […]

Vietnam’s Seafood Exports Propel Global Trade Growth

December 4, 2024

Jessica Jumaway

Vietnam’s seafood industry continues to make waves in international trade, with exports reaching $924 million in November—a remarkable 17% increase year-on-year. With total earnings over the first 11 months of 2024 nearing $9.2 billion, the sector is on course to achieve its ambitious $10 billion export target by year-end, according to the Vietnam Association of […]

China’s Auto Exports Surge by 47.4% in January

December 3, 2024

Daisy

In an impressive display of growth, China’s automobile exports experienced a substantial increase of 47.4% year-on-year in January of this year, according to industry data released by the China Association of Automobile Manufacturers.   During the period, a total of 443,000 vehicles were exported, showcasing China’s robust performance in the global automotive market. Among these […]

Mexico Surpasses China as Top Source of US Imports

December 3, 2024

Daisy

In a significant shift, Mexico has emerged as the leading source of goods imported to the United States, surpassing China for the first time in over two decades. This trend underscores evolving dynamics in global trade relations, influenced by tensions between Washington and Beijing and a growing preference for sourcing from countries closer to home. […]

US Export Credit Agency Supports Oil and Gas Drilling in Bahrain Despite Biden’s Climate Pledge

December 3, 2024

Daisy

A US export credit agency is moving forward with plans to back the drilling of over 450 new oil and gas wells in Bahrain, despite President Biden’s commitment to climate action. The agency’s board recently voted to notify Congress about the potential investment, a necessary step for projects exceeding $100 million. Observers anticipate that financing […]

South Korea’s Exports Surge in January, Fueled by Chip Sales and China Rebound

December 3, 2024

Daisy

South Korea’s trade-reliant economy started 2024 on a positive note as exports rose for the fourth consecutive month. The surge in sales to China and the significant increase in chip shipments, the largest in six years, contributed to this boost.   January’s trade data indicated the favorable momentum, complemented by a national factory activity survey […]

Indonesia’s Economy Records Resilient 5% Growth in Q4

December 3, 2024

Daisy

In the final quarter of the year, Indonesia’s economy demonstrated remarkable resilience, with a robust growth rate of 5.0% compared to the previous year. This encouraging performance was underpinned by strong domestic consumption, even in the face of challenges such as shrinking exports and declining commodity prices. These insights emerge from a recent Reuters poll […]

Qatar Announces $1.3 Billion Investment in UK Climate Technology, Boosting Trade and Economic Growth

December 3, 2024

Jessica Jumaway

Qatar is making a landmark investment of £1 billion ($1.3 billion) in the United Kingdom’s climate technology sector, marking a significant step in strengthening trade relations and supporting sustainable growth. This move comes as part of Qatar’s broader strategy to foster innovation in green technologies, aligning with the UK’s goals for a more sustainable energy […]

Georgia’s Kiwi Exports to Japan Surge by 69%, Boosting Trade Relations

December 3, 2024

Jessica Jumaway

Georgia’s agricultural sector is seeing impressive growth, particularly in its kiwi exports to Japan. In the first 10 months of 2024, the country exported 264 tons of kiwi to Japan, marking a 69% increase compared to the entire year of 2023. This surge in exports positions Georgia among the top four kiwi suppliers to Japan, […]

Poland Strengthens Global Trade Ties with Leading Apple Exports to Egypt

December 3, 2024

Jessica Jumaway

Poland has solidified its position as a global leader in apple exports, with significant contributions to Egypt’s growing demand for high-quality European produce. During the 2022/2023 season, Egypt imported 158,754 tons of apples from Europe, valued at â‚ ¬71.785 million. Of this, Poland accounted for 37.7% of the value, exporting 76,907 tons worth â‚ ¬31.819 […]

Philippines-South Korea FTA Strengthens Agricultural Trade with Tropical Fruit Exports

December 3, 2024

Jessica Jumaway

The Philippines and South Korea have taken a significant step to enhance their agricultural trade partnership with the ratification of a free trade agreement (FTA). This agreement is expected to open new opportunities for the export of Philippine tropical fruits to South Korea, complementing the existing trade in vegetables and other agricultural products.   President […]

China Opens Doors to Irish Breeding Pigs, Bolstering Agricultural Trade

December 2, 2024

Daisy

In a significant development for international trade, China has officially granted permission for the importation of breeding pigs from Ireland, effective as of February 1st, as announced by Chinese customs. However, it’s worth noting that these shipments are contingent upon Ireland meeting stringent animal health criteria.   To maintain the safety and well-being of livestock, […]

Chilean Stone Fruit Exports on Track for Record Growth in Global Trade

December 2, 2024

Jessica Jumaway

The 2024-2025 season is shaping up to be a remarkable year for Chile’s stone fruit exports, with shipments of plums, peaches, and nectarines projected to increase by 4% over the previous year. This growth, estimated at 38 million boxes averaging 8.3 kilograms each, reflects Chile’s strategic efforts to strengthen its position in global agricultural trade. […]

China’s Commodity Import Surge Conceals Underlying Complexities

December 2, 2024

Daisy

China witnessed remarkable increases in the import of crucial commodities such as crude oil, coal, and iron ore in 2023, signaling a significant upswing in demand. While these record-breaking figures are touted as a testament to China’s economic strength, a more nuanced examination reveals intricate factors prompting experts to question the depth of the economic […]

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