News

ASEAN Advances Free Trade Agreement with Australia and New Zealand

March 8, 2024

Daisy

In a significant step towards bolstering regional trade relations, the Philippines has signed the second protocol to the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA).   President Ferdinand Marcos Jr., in his address during the ASEAN-Australia Special Summit Leader’s Plenary Session, expressed confidence in the agreement’s potential to bolster the region’s economy and support micro, small, […]

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Switzerland Sets Course for Renewed EU Relationship Talks

March 8, 2024

Daisy

In a pivotal decision on Friday, the Swiss government has green-lighted the initiation of discussions with the European Union, aiming to rejuvenate the nation’s ties with the bloc. This move comes as a significant step forward after the disintegration of a former agreement attempt in 2021. Switzerland’s strategy emphasizes the vital importance of unfettered access […]

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Chile’s Copper Exports Surge to $3.47 Billion in February

March 7, 2024

Daisy

Chile, renowned as the leading copper producer globally, showcased its robust trade performance in February as copper exports soared to $3.47 billion, marking a commendable 3.77% increase compared to the same period last year. This impressive feat was revealed by the central bank on Thursday, underscoring Chile’s pivotal role in the copper market.   Despite […]

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WTO Invites Applications for 2025 Young Professionals Programme

March 7, 2024

Daisy

The World Trade Organization (WTO) has announced the commencement of the application process for its 2025 Young Professionals Programme (YPP). Individuals up to the age of 32 as of January 1, 2025, hailing from eligible developing economies and least-developed countries (LDCs), are encouraged to submit their applications by April 2, 2024.   Selected candidates will […]

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Japan Maintains Full-Year Current Account Surplus

March 7, 2024

Daisy

Japan has sustained its current account surplus for a consecutive full year, according to data released by the Ministry of Finance on Friday. The surplus in January was attributed to increases in overseas interest rates, which led to gains from foreign bond holdings.   In January, Japan’s current account surplus amounted to 438.2 billion yen […]

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Brazilian Sugar Mills Prioritize Sugar Production Over Ethanol

March 7, 2024

Daisy

Brazilian sugar mills are gearing up to boost their sugar production capacity by up to 10% in the upcoming season starting from April, driven by favorable sugar prices and the availability of cheaper corn for ethanol production.   As the world’s largest sugar producer, Brazil is capitalizing on its position amidst a global market influenced […]

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Digital Trade Plays a Key Role in Empowering Women in Global Commerce

March 7, 2024

Daisy

In a compelling address at the “Women in Trade” event in London on March 7, Deputy Director-General Johanna Hill of the World Trade Organization (WTO) shed light on the transformative impact digital trade and services sector can have on women’s socio-economic status. The event, hosted by Trade Finance Global, became a platform for advocating the […]

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China’s Export Surge Sets Positive Tone for 2024 Amid Global Economic Challenges

March 7, 2024

Daisy

China kicks off the year 2024 on a high note as it reports a remarkable 7.1% increase in exports for the first two months, surpassing expectations and fueling optimistic forecasts despite lingering challenges in the global economy.   The surge in exports, reaching US$528 billion, has outpaced predictions, signaling resilience in China’s trade sector amidst […]

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China’s Visa-Free Travel Initiative Opens New Trade Opportunities

March 6, 2024

Daisy

China has unveiled a groundbreaking visa-free travel initiative, set to catalyze trade relations with six nations. Foreign Minister Wang Yi announced the move on March 14, extending the privilege to citizens of Switzerland, Ireland, Hungary, Australia, Belgium, and Luxembourg.   This strategic decision not only promotes tourism but also lays the groundwork for enhanced trade […]

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Australia and Vietnam Elevate Relations, Initiate Talks on Critical Minerals Cooperation

March 6, 2024

Daisy

In a significant diplomatic move, Australia and Vietnam have announced an upgrade in their bilateral relations to a comprehensive strategic partnership. This development, revealed by Australian Prime Minister Anthony Albanese on Thursday, includes the commencement of annual discussions on minerals, underscoring efforts to diversify supply chains away from China.   The enhanced partnership signifies a […]

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Vietnam’s Diplomatic Successes Highlighted in Bamboo Diplomacy Advancement

March 6, 2024

Daisy

Vietnam, under the leadership of Communist Party General Secretary Nguyen Phu Trong, continues to bolster its international standing through strategic diplomacy, termed “bamboo diplomacy,” with recent successes including upgraded ties with major global players.   In the latest development, Vietnam elevated its relationship with Australia, marking another milestone in its diplomatic outreach. This achievement comes […]

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Japan’s Contribution to WTO Empowers Developing Economies in Trade Capacity Building

March 6, 2024

Daisy

In a commitment to bolster inclusive global trade, Japan pledges EUR 115,000 (about CHF 108,000) to the WTO’s Global Trust Fund for 2024, aiming to support training programs for government officials from developing economies and least-developed countries (LDCs).   This contribution underscores Japan’s dedication to enhancing the trade-related capabilities of developing nations, enabling them to […]

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Australia Launches $1.3 Billion Fund to Enhance Trade with Southeast Asia

March 5, 2024

Daisy

Australia has announced plans to establish a significant finance facility worth A$2 billion ($1.3 billion) aimed at boosting trade and investment in Southeast Asia, demonstrating its commitment to strengthening ties with the ASEAN bloc, which stands as the country’s second-largest two-way trading partner.   Treasurer Jim Chalmers emphasized the importance of the region, stating, “Our […]

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Indian Government Lifts Onion Export Ban to Boost Trade Relations with Bangladesh and UAE

March 5, 2024

Daisy

In a recent development, the Indian government has amended its ban on onion exports, allowing the shipment of 64,400 tonnes to the UAE and Bangladesh. A senior official from the federal ministry of commerce confirmed this decision, stating that it was made at the “request of friendly countries.”   The ban on onion exports was […]

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Vietnam’s Shrimp Exports Expected to Surpass $4 Billion in 2024

March 5, 2024

Daisy

Vietnam’s shrimp export industry is projected to see a notable increase of 10-15 percent this year, reaching a turnover of $4-4.3 billion, as reported by the Vietnam News Agency on Monday, citing the Vietnam Association of Seafood Exporters and Producers.   The United States and China are anticipated to maintain their positions as the top […]

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German Exports Surge in January, Boosting International Trade Prospects

March 5, 2024

Daisy

Germany experienced a notable surge in exports at the beginning of the year, driven by increased demand from European Union nations and China, according to data released by the federal statistics office.   In January, exports soared by 6.3% compared to the previous month, surpassing expectations of a 1.5% increase projected in a Reuters poll. […]

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