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Chemical Industry Sets Ambitious Goal of $35 Billion in Exports, Aiming for Strong Rebound

January 15, 2024

In a determined move, the chemical industry is gearing up for a remarkable resurgence as it targets $35 billion in export revenues this year, signifying a robust 14 to 15 percent increase from the previous year’s figures, which saw a decline of 8.7 percent, amounting to $30.57 billion in export revenues. Adil Pelister, President […]

Vietnamese Industries Set Sights on Ambitious Export Targets for 2024

January 15, 2024

In a display of confidence amid a positive economic outlook, the Ministry of Industry and Trade in Vietnam is aiming for a substantial 6% increase in exports in 2024. The country aims to maintain a trade surplus for the ninth consecutive year, with an estimated surplus of US$15 billion. To achieve these ambitious goals, […]

Georgian Dream Leader Strengthens Bilateral Ties in Key China Visit

January 15, 2024

In a strategic move to enhance diplomatic relations, Irakli Kobakhidze, the leader of Georgia’s ruling party and chairman of the governing Georgian Dream bloc, embarked on a six-day visit to China on Monday. Initial reports from Georgian media highlighted his significant meeting with the head of the Chinese Communist Party’s International Department. Kobakhidze stressed […]

Venezuelan Economic Resilience: 8% Growth Projected for 2024 Despite Challenges

January 15, 2024

In a notable economic update, President Maduro announced that Venezuela’s economy, which experienced a 5% growth in 2023, is set to reach an impressive 8% this year. This positive outlook comes amidst the country’s prolonged economic challenges, including triple-digit inflation and a significant emigration of millions seeking better opportunities abroad. Although Venezuela’s inflation rate […]

EU Eastern Members Propose Trade Measures Amidst Grain Market Dynamics

January 15, 2024

In a recent development, agricultural ministers from Bulgaria, Poland, Hungary, Romania, and Slovakia, representing the European Union’s eastern states, have jointly requested the EU to consider imposing import duties on Ukraine’s grains. Citing concerns over unfair competition, the ministers, including Hungary’s Farm Minister Istvan Nagy, underscored the impact of cheaper Ukrainian agricultural products on their […]

China and Switzerland Strengthen Trade Ties with New Declaration

January 15, 2024

In a notable effort to strengthen their partnership, China and Switzerland have formalized a joint declaration, signifying a mutual commitment to deepen collaboration. Premier Li Qiang, the most senior Chinese official to visit Switzerland since President Xi Jinping’s 2017 trip, engaged in discussions with Swiss President Viola Amherd and a distinguished Chinese delegation ahead of […]

China-Switzerland Breakthroughs in Free Trade and Visa Policies Strengthen Bilateral Ties

January 15, 2024

In a significant diplomatic stride, China and Switzerland have expedited discussions to enhance their e On Monday, Bern and Beijing reached a consensus to promptly initiate formal negotiations aimed at expanding their free trade agreement, which has been in effect since 2013. Notably, China has also committed to granting visa-free entry for Swiss citizens, […]

China Surges Ahead to Potentially Claim Title of World’s Leading Auto Exporter

January 14, 2024

In a groundbreaking development, the Chinese car industry is poised to surpass Japan and emerge as the world’s largest auto exporter, according to the Chinese Passenger Car Association (CPCA). The CPCA reveals that prominent automakers like BYD Auto and Chery are experiencing a surge in overseas sales, contributing to a remarkable 62% increase in Chinese […]

Vietnam Celebrates Record-Breaking Rice Exports, Seizing Global Market Opportunities

January 14, 2024

In a remarkable achievement, Vietnam’s rice exports have reached unprecedented levels, surging to 8.13 million tons and valued at US$4.7 billion in 2023, according to the General Department of Customs. This outstanding performance not only signifies a substantial 14.4% increase in volume but also reflects a remarkable 35.3% rise in value compared to the previous […]

Egypt and China Collaborate to Ensure Safety and Security in Red Sea Navigation

January 14, 2024

In a joint statement released on Sunday, Egypt and China underscored their commitment to closely monitoring developments in the Red Sea with a primary focus on ensuring the safety and security of navigation. The joint declaration highlighted both nations’ shared concerns regarding the expanding conflict in the region and emphasized the crucial need to address […]

Guatemala’s President-elect Explores Economic Ties with Taiwan Ahead of Inauguration

January 13, 2024

In a proactive move, Guatemala’s President-elect, Bernardo Arevalo, engaged in discussions with Taiwan’s Foreign Minister, Joseph Wu, signaling a commitment to strengthen commercial ties between the two nations. The meeting, held in anticipation of Arevalo and Vice President-elect Karin Herrera’s inauguration on Sunday, focused on fostering economic collaboration. While Arevalo has expressed an intention […]

Philippines and Korea Set to Deepen Ties Following Free Trade Agreement

January 13, 2024

In a forward-looking approach, the Philippines is actively pursuing a strategic partnership with Korea this year, building on the historic Philippines-Korea Free Trade Agreement (FTA) signed last year. With the 75th anniversary of diplomatic relations approaching, both nations are keen on elevating collaboration in various sectors, according to the Philippine Ambassador to Korea, Maria Theresa […]

China’s Citrus Sector Flourishes, Navigating Global Competition with Robust Domestic Growth

January 12, 2024

China’s domestic citrus production is on an upward trajectory, fueled by favorable weather conditions and successful replanting efforts that have addressed previous challenges such as citrus greening disease. According to a recent USDA report, the country’s citrus sector is poised for continued growth in the 2023/24 period (12 months to October 31, 2024). The […]

China Breaks Records with Crude Oil Imports in 2023

January 12, 2024

China’s annual imports of crude oil reached an unprecedented high in 2023, marking a significant recovery in fuel demand from the post-pandemic decline. According to data from the General Administration of Customs (GACC), China imported 563.99 million metric tonnes of oil last year, equivalent to an average of 11.28 million barrels per day, representing an […]

Romania Solidifies Position as Ukraine’s Primary Alternative Export Gateway for Grains

January 11, 2024

In a testament to the enduring collaboration between Ukraine and Romania, the former’s largest alternative export route for grains and goods is set to remain the Black Sea port of Constanta, according to a senior U.S. State Department official. Despite challenges posed by Russia’s invasion in February 2022, Ukraine has successfully utilized Romania’s port after […]

World Bank’s IFC Channels Nearly $1 Billion to Boost Ukraine’s Private Sector Amid Challenges

January 11, 2024

In a significant move to fortify Ukraine’s private sector, the International Finance Corporation (IFC), the private investment arm of the World Bank, has successfully mobilized nearly $1 billion. This funding aims to contribute to the reconstruction of Ukraine’s economic landscape, with a particular emphasis on the private sector. Makhtar Diop, the Managing Director of the […]

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