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

Taiwan Assures Minimal Impact from Red Sea Disruptions on Trade

February 5, 2024

Daisy

Taiwanese companies appear to be weathering the disruptions in the Red Sea’s crucial shipping lane without significant impact, as these disturbances coincide with the traditional low season in export demand, according to Economy Minister Wang Mei-hua’s statement on Monday.   The Red Sea route has seen certain shipping companies suspending transit to avoid potential attacks […]

EU Emphasizes Support for Solar Industry Amid Import Concerns

February 5, 2024

Daisy

The European Union is prioritizing its ambitious solar power targets as it assesses potential measures to address imports of photovoltaic panels, wafers, and related components, according to a senior EU official’s statement on Monday.   European Commissioner Mairead McGuinness emphasized that the EU is actively developing a comprehensive toolkit to bolster the solar industry, considering […]

UK Minister Engages with U.S. Officials to Promote Northern Ireland’s Renewed Government and Economic Opportunities

February 5, 2024

Daisy

Chris Heaton-Harris, the British minister for Northern Ireland, is set to journey to Washington to hold discussions with U.S. lawmakers regarding the reinstatement of the province’s devolved government. In addition to addressing this pivotal development, he will also highlight the economic potential of Northern Ireland, as stated by his department on Tuesday.   Northern Ireland, […]

Japan Continues Subsidies to Boost Memory Chip Production

February 5, 2024

Daisy

The Japanese Ministry of Industry announced on Tuesday its intention to extend subsidies amounting to 242.9 billion yen ($1.64 billion) to support efforts to expand memory chip production in Mie and Iwate prefectures.   This financial support serves as a lifeline for companies facing challenges due to a downturn in the NAND flash chip market. […]

Turkey Explores Opportunities to Broaden Export Horizons in China

February 4, 2024

Daisy

A Turkish delegation, led by Tayfun Kilic, Deputy Director General of the Turkish Ministry of Trade, along with key industry representatives, embarked on an inaugural visit to the China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce, and Animal By-Products on January 29th.   During this visit, the two sides engaged in […]

Egyptian Exports to Libya See Remarkable Growth in 2023

February 4, 2024

Daisy

In a recent report published by the Central Agency for Public Mobilization and Statistics in Egypt, a substantial surge in Egyptian exports to Libya during the first 11 months of 2023 has come to light, indicating a promising trend in bilateral trade.   According to the report, Egyptian exports to Libya reached an impressive total […]

Tajikistan Boosts Potato and Fruit Imports to Enhance Variety and Availability

February 1, 2024

Daisy

In the year 2023, Tajikistan witnessed a notable increase in the import of potatoes and fruits, despite reports from the Committee on Food Security indicating a rise in domestic production of these agricultural products.   Tajikistan celebrated a record-breaking fruit harvest of approximately 665,000 tons, which represented a substantial 30% growth compared to the previous […]

Japanese Crude Oil Imports Maintain Steady Supply from Saudi Arabia

February 1, 2024

Daisy

Japan has consistently maintained a substantial share of its crude oil imports from Saudi Arabia, accounting for about 44 percent of its total oil requirements, totaling approximately 36.28 million barrels. This information, sourced from the Agency of Natural Resources and Energy within the Ministry of Economy, Trade and Industry, underscores Saudi Arabia’s reliability as a […]

Progress in WTO Agricultural Negotiations: Draft Text Presented Ahead of MC13

January 31, 2024

Daisy

In a crucial development, Ambassador Alparslan Acarsoy of Türkiye, Chair of the agriculture negotiating body, introduced a draft negotiating text during a meeting on January 30th, open to all WTO delegations. This draft text has garnered positive responses from trade officials and is seen as a valuable starting point for discussions leading up to the […]

China’s Factory Activity Expands in January, Boosted by Export Orders

January 31, 2024

Daisy

In a recent private-sector survey, it was revealed that China’s factory activity experienced growth in January. This expansion was attributed to stable output, improved logistics efficiency, and the first uptick in new export orders since June. Consequently, business confidence reached a nine-month high.   The positive results, however, contrasted with an official survey from the […]

Fisheries Funding Mechanism Advances to Support Developing and Least-Developed Countries

January 31, 2024

Daisy

The Steering Committee of the WTO Fisheries Funding Mechanism recently convened its inaugural meeting on January 31st, with the primary aim of preparing to extend assistance to developing members and least-developed country members (LDCs) for the effective implementation of the Agreement on Fisheries Subsidies. Deputy Director-General Angela Ellard stressed the critical importance of having this […]

China Surpasses Japan as Global Vehicle Export Leader in 2023, Marking a Historic Shift in the Auto Industry

January 31, 2024

Daisy

In a significant industry development, China has officially taken the crown as the world’s largest vehicle exporter in 2023, surpassing Japan, according to data released by the Japan Automobile Manufacturers Association (JAMA).   The remarkable growth of China’s auto sector in recent years can be attributed to substantial investments in electric vehicles (EVs), a domain […]

Unlocking Vietnam’s Potential in Livestock Product Exports to China

January 31, 2024

Daisy

Vietnam is poised for a significant upswing in its agricultural export value to China this year, thanks to a collaborative effort with China to review regulations permitting the official export of poultry meat from Vietnam to the Chinese market.   In the year 2023, livestock products constituted only 1 percent of the total agricultural, forestry, […]

EU Trade Chief Continues Discussions with US on Battery Minerals Trade Despite Differences

January 30, 2024

Daisy

In recent developments, the United States and the European Union have encountered challenges in reaching a trade deal related to critical battery minerals. Despite this setback, both parties are committed to pursuing negotiations aimed at establishing a transatlantic marketplace for minerals and other vital components, as stated by the EU’s top trade official.   Valdis […]

Swiss Watch Exports Maintain Record Performance in 2023

January 30, 2024

Daisy

In a remarkable achievement, Swiss watch exports have achieved a record-breaking performance for the third consecutive year in 2023, witnessing a substantial increase of 7.6 percent, amounting to 26.7 billion Swiss francs ($31 billion), as reported by an industry group.   The boost in exports can be primarily attributed to the thriving sales in their […]

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