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South Korea Sees 1% Growth in Export-Import Cargo in 2023 Amid Export Recovery

January 29, 2024

South Korea’s export-import cargo experienced a 1 percent growth in 2023, signaling a recovery in the country’s exports, according to the Ministry of Oceans and Fisheries. The seaports in South Korea handled a total of 1.32 billion tons of export-import cargo, a slight increase from the previous year’s 1.31 billion tons. However, overall cargo processed […]

Chinaâ€™s Ambitious Plans to Expand Global Free Trade Agreements in 2024

January 29, 2024

China is setting its sights on an ambitious plan to further expand its global network of high-standard free trade areas (FTAs) in 2024, building on the remarkable progress it has made in negotiating FTAs over the past year. Chinese Vice Commerce Minister Wang Shouwen has unveiled these intentions, highlighting the country’s commitment to increasing openness […]

Taiwanâ€™s Fourth Quarter Economic Growth Bolstered by Domestic Demand and Export Recovery

January 29, 2024

Taiwan’s trade-dependent economy is anticipated to have experienced accelerated growth in the fourth quarter of the year, largely attributed to robust domestic consumption and a resurgence in exports, according to a recent Reuters poll of 22 economists. Gross domestic product (GDP) for the October-December period is expected to have expanded by approximately 4.35% compared […]

Philippines and Canada Forge Stronger Defense Ties with Memorandum of Understanding

January 29, 2024

In a significant step towards bolstering their defense cooperation, the Philippines and Canada formally signed a memorandum of understanding on Friday, with Manila’s defense minister expressing optimism that this agreement could pave the way for a troop pact between the two nations. Defense Secretary Gilberto Teodoro highlighted the strong intention on both sides to […]

India and France Forge Strategic Partnership in Defense Production and Beyond

January 27, 2024

India and France have solidified their commitment to collaborate on joint defense production, encompassing helicopters, submarines, and more, both for the Indian armed forces and friendly nations, according to a government statement issued following French President Emmanuel Macron’s visit. President Macron’s visit included meetings with Prime Minister Narendra Modi and attendance at a state […]

U.S. Firms Eye $8 Billion Investment in Vietnamâ€™s Clean Energy Sector

January 26, 2024

Fifteen U.S. companies, including semiconductor firms, have expressed keen interest in investing a substantial $8 billion in Vietnam’s clean energy infrastructure. However, this investment is contingent on Vietnam’s progress in implementing renewable energy regulations, as revealed by a senior U.S. official during a press briefing in Hanoi. Vietnam has been actively seeking to attract […]

Cabo Verde Formally Accepts Agreement on Fisheries Subsidies

January 26, 2024

Cabo Verde, an ocean state with a substantial maritime area, has officially deposited its instrument of acceptance for the Agreement on Fisheries Subsidies on January 26th. Ambassador Clara Manuela da Luz Delgado Jesus presented Cabo Verde’s acceptance to Director-General Ngozi Okonjo-Iweala. The Agreement is seen as crucial for Cabo Verde, as 80% of its population […]

Japan and Indonesia Strengthen Trade and Collaboration in Updated Agreement

January 25, 2024

Japan and Indonesia have reached an agreement to remove trade barriers and enhance cooperation across various sectors, as announced by Indonesia’s Foreign Minister Retno Marsudi. This development follows a bilateral meeting between Japanese Prime Minister Fumio Kishida and Indonesian President Joko Widodo in Tokyo on December 16, 2023, during which the two leaders discussed […]

European Commission Releases New Guidelines to Enhance Transparency in Dual-Use Export Controls Reporting

January 25, 2024

The European Commission has taken a significant step in promoting transparency in dual-use export controls by publishing new Guidelines on data gathering and processing for export controls. This development follows the recent release of the Commission’s White Paper on export controls, which emphasizes the importance of fully implementing the EU’s dual-use regulation. On January […]

Austria Boosts Developing Economiesâ€™ Trade Expertise with EUR 200,000 Contribution

January 25, 2024

Austria has demonstrated its commitment to supporting developing economies’ engagement in international trade by contributing EUR 200,000 (approximately CHF 190,000) to the Global Trust Fund in 2024. This financial contribution is aimed at facilitating greater participation and expertise in global trade for developing nations. A significant portion of this funding will be directed towards the […]

Taiwan President-Elect Expresses Interest in Joining U.S.-Led Trade Framework

January 24, 2024

Taiwan’s President-elect, Lai Ching-te, has conveyed his keenness for Taipei to become part of the U.S.-led Indo-Pacific Economic Framework, citing the island’s pivotal role in the global economy. Taiwan was initially excluded from the Indo-Pacific Economic Framework by the United States in 2022, as part of the Biden administration’s efforts to counter what it […]

French President Macron to Grace Indiaâ€™s Republic Day; Focus on Strengthening Strategic Ties

January 24, 2024

French President Emmanuel Macron will be the chief guest at India’s Republic Day celebrations, underscoring the deepening ties between the two nations. The visit comes amid ongoing negotiations for significant defense deals, including the purchase of French fighter jets and submarines by the Indian military. While the visit is expected to be ceremonial in […]

Portugal Contributes EUR 50,000 to WTO Fisheries Funding Mechanism

January 24, 2024

Portugal has demonstrated its commitment to supporting sustainable fisheries practices by donating EUR 50,000 (approximately CHF 48,000) to the WTO Fisheries Funding Mechanism. Ambassador Rui Macieira presented this contribution to WTO Director-General Ngozi Okonjo-Iweala on January 24. Director-General Okonjo-Iweala expressed her gratitude for Portugal’s donation and emphasized the importance of collaborative efforts in promoting […]

Japan Experiences Robust 10% Surge in Exports Boosted by Auto Demand and Revived Trade with China

January 24, 2024

In a positive turn of events, Japan’s exports witnessed a remarkable surge of nearly 10% in December compared to the previous year. This substantial growth was attributed to a revival in trade with China and a robust demand for vehicles, machinery, and computer chips. Preliminary customs data released on Wednesday revealed a notable trade […]

EU Adapts Inspection Frequencies for Imported Food Products, Balancing Rigor and Compliance

January 24, 2024

The European Commission has introduced changes to the frequency of inspections for various imported food products, signaling a nuanced approach to safety measures. The revised legislation, which governs official controls and special conditions for non-animal origin food and feed entering Europe, undergoes adjustments every six months. Informed by data from the Rapid Alert System […]

South Korean Water Purifiers Break Export Records in 2023, Poised for Global Expansion

January 24, 2024

In a significant milestone, South Korean water purifiers achieved record-breaking exports in 2023, propelled by their exceptional quality, design, and service. With a growing global demand for clean and healthy water, Korean water purifiers are poised to accelerate their expansion into international markets. Data from the Korea Trade-Investment Promotion Agency (KOTRA) revealed that South […]

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