Become a Member

News

Download Our Latest International Trade Reports

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

Global Surge in Demand for Energy-Related Critical Minerals Spurs Trade Challenges

January 10, 2024

In recent years, the escalating demand for critical minerals like cobalt, copper, lithium, nickel, and rare earths, essential for clean energy technologies, has given rise to significant challenges in global supply chains. These minerals play a pivotal role in producing clean energy goods, from electric cars to wind turbines. The annual trade in energy-related critical […]

Romanian Port Achieves Record Grain Exports Boosted by Ukrainian Shipments

January 10, 2024

In a notable surge, the Port of Constanta in Romania achieved record grain exports in 2023, reaching 36 million tonnes, marking a remarkable 50% increase compared to the previous year, according to the port authority. The Black Sea-based port experienced this substantial growth, with Ukrainian shipments playing a significant role, contributing nearly 40% to the […]

Vietnam’s Ministry of Industry and Trade Unveils Strategies to Boost Exports to European and American Markets

January 10, 2024

The Ministry of Industry and Trade (MoIT) is gearing up to implement major initiatives aimed at boosting exports to the European and American markets in the upcoming year, as announced by Ta Hoang Linh, Director of the European-American Market Department under the MoIT. To maximize advantages and address challenges in both exports and imports, […]

Renowned Scholar Cheong In-kyo Appointed as South Korea’s New Trade Minister

January 10, 2024

Cheong In-kyo, a distinguished scholar in global trade, has been appointed as Korea’s new trade minister, marking a significant development in the realm of international commerce. With a strong background in economic security and extensive experience in crucial free trade agreement negotiations, Cheong is poised to make a notable impact in his new role. […]

Maldives Seeks Closer Economic Ties with China Amidst Shifting Alliances

January 9, 2024

In a bid to strengthen economic partnerships, Maldivian President Mohamed Muizzu is fostering ties with China, marking a notable shift away from traditional ally India. The “Invest Maldives” forum held in Fuzhou, a key city on China’s maritime Silk Road, showcased the President’s commitment to bolstering bilateral relations. President Muizzu, who assumed office in […]

Comoros Gains Consensus Support for WTO Accession at Historic MC13

January 9, 2024

In a significant milestone for global trade, members of the World Trade Organization (WTO) reached a consensus on January 9, 2024, regarding the terms of Comoros’ WTO membership. The agreement, achieved ad referendum, marks a crucial step toward the formal adoption of Comoros as the newest member of the organization. This achievement positions Comoros as […]

UK and India Forge Ahead with Comprehensive FTA Negotiations, Set to Address Key Trade Issues

January 9, 2024

The United Kingdom and India remain committed to pursuing a comprehensive and ambitious Free Trade Agreement (FTA), as confirmed by an official statement. The two nations are gearing up for the 14th round of negotiations, scheduled to commence this week, with a focus on intricate matters concerning goods, services, and investment. Several critical topics […]

Australia Implements Streamlined Dairy Import Rules, Facilitating Market Access for Philippine Exporters

January 8, 2024

In a recent development, the Department of Trade and Industry (DTI) has issued a reminder to local exporters of dairy products, urging them to familiarize themselves with Australia’s updated regulations to ensure compliance and sustained market access. According to the advisory, Australia revised its import regulations for dairy in November of the previous year. Notably, […]

Vietnam Sees Expanding Opportunities for Fruit and Vegetable Exports to China

January 8, 2024

In a promising development for Vietnamese agriculture, the Department of Agriculture is actively working towards expanding the export of agricultural products, particularly fruits and vegetables, to the Chinese market. Several protocols have been signed between Vietnam and China, paving the way for increased official exports of various produce. At the close of 2023, Vietnam […]

U.S. Container Imports Maintain Steady Growth in December, Global Shipping Report Reveals

January 8, 2024

In a positive turn of events, U.S. container imports exhibited a nearly 10% increase in December compared to the same month the previous year, signaling a robust finish to 2023, according to the latest Global Shipping Report by Descartes Systems Group. The report indicated that import volumes continued to outpace pre-pandemic levels through the peak […]

German Exports Surge Beyond Expectations, Indicating Positive Momentum for International Trade

January 8, 2024

In a surprising turn of events, Germany experienced a substantial surge in exports during November, outperforming expectations and offering a glimmer of hope for the country’s international trade sector. According to data released by the federal statistics office on Monday, German exports saw a notable increase of 3.7% compared to the previous month, significantly surpassing […]

Indian Prime Minister Sets Stage for Tech and EV Investments at Vibrant Gujarat Global Summit

January 8, 2024

Indian Prime Minister Narendra Modi is gearing up to showcase his home state, Gujarat, as a prime investment destination during the Vibrant Gujarat Global Summit scheduled from Jan. 10-12. This high-profile event marks one of Modi’s final endeavors to attract both domestic and foreign investors before facing re-election. The summit is anticipated to host a […]

Philippine Agriculture Eyes Robust Expansion in Japanese Market

January 8, 2024

In a strategic move, the Department of Agriculture (DA) has announced its ambitious plans to enhance and diversify the export of agricultural products to Japan, aiming to capitalize on opportunities for growth in the Japanese market. Agriculture Secretary Francisco Tiu Laurel, Jr. highlighted the intent to boost shipments of a variety of agricultural goods, […]

South Korea’s Instant Noodles Exports Skyrocket to Record High of $1 Billion in 2023

January 7, 2024

In a remarkable achievement, South Korea’s exports of the beloved Korean instant noodles, known as ramyeon, soared to an unprecedented high, hitting nearly $1 billion (1.31 trillion won) in 2023, as per government data and industry sources. The Korea Customs Service reported a substantial annual increase, with ramyeon exports reaching $952 million last year, […]

Brazil Anticipates 60% Surge in Electric and Hybrid Car Sales in 2024, Despite Import Tax Hurdles

January 5, 2024

In a promising outlook for Brazil’s automotive sector, the local industry group ABVE announced on Friday that sales of fully electric and hybrid vehicles are poised to grow by a substantial 60% in 2024 compared to the previous year. Representing key players in the electric automobile market, including Chinese giants BYD and Great Wall […]

Florida Breaks Ground as FDA Grants Approval for Prescription Drug Imports from Canada

January 5, 2024

In a landmark move, the U.S. Food and Drug Administration (FDA) has granted Florida the green light to directly import prescription drugs from Canada, marking the state as the first to gain approval for a strategy aimed at potentially reducing medication prices. The decision comes as a response to the considerable cost disparity between drug […]

The International Trade Council is a global, peak-body, chamber of commerce that supports businesses and governments by providing resources, advocacy, and networking opportunities to promote international trade and foreign direct investment. It serves as a platform for organizations to collaborate, share knowledge, and navigate the complexities of global markets.

About the ITC

Resources

Legal

© 2024 - International Trade Council. A Peak-Body, International Chamber of Commerce.