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Japan Extends $2.8 Million Maritime Security Assistance to Malaysia

December 16, 2023

In a significant move aimed at enhancing regional security and cooperation, Japan and Malaysia have officially sealed a security assistance deal, underlining their commitment to bolstering maritime security in the face of evolving challenges, including regional dynamics related to China. On Saturday, the foreign ministers of Japan and Malaysia signed the agreement, which includes […]

Australia Anticipates Resolution of Chinese Wine Tariffs in Early 2024

December 16, 2023

Australia’s government expressed confidence on Sunday that the punitive tariffs imposed by China on Australian wine in 2021 would be removed early next year, providing a significant boost to Australian winemakers. Trade Minister Don Farrell conveyed his optimism in an interview with Sky News television, stating, “I would be very confident that early in […]

Indonesia and Japan Forge Closer Economic Ties by Removing Trade Barriers

December 16, 2023

In a significant development aimed at fostering stronger economic ties, Indonesia and Japan have successfully concluded negotiations on protocols to enhance their bilateral economic agreements, as announced by Indonesia’s Foreign Minister Retno Marsudi on Saturday. Under these agreements, Japan has committed to granting greater market access to Indonesian products. This includes the removal of […]

WTO General Council Receives Updates and Approves Budget Increase

December 15, 2023

In a recent meeting of the World Trade Organization’s (WTO) General Council held from December 13 to 15, members were briefed by the Chair of the 13th Ministerial Conference (MC13), H.E. Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade of the United Arab Emirates, regarding preparations for MC13 scheduled for […]

Indonesia’s Trade Surplus Expected to Narrow to $3 Billion in November

December 14, 2023

Indonesia’s trade surplus is anticipated to shrink in November as exports are poised to contract once again, while imports are expected to show slight growth, according to a recent Reuters poll conducted with 20 economists between December 8 and December 14. The poll projects a trade surplus of $3.05 billion for November, down from […]

U.S. Treasury Secretary Janet Yellen Promotes Cooperation with China on Climate and Financial Markets

December 14, 2023

U.S. Treasury Secretary Janet Yellen has outlined her key priorities for managing U.S.-China relations in the coming year, which include plans for a second visit to China and efforts to accelerate collaboration on climate risks and financial markets. In remarks prepared for a dinner hosted by the U.S.-China Business Council, Yellen emphasized that the […]

Tesla Receives $153 Million Incentives from Mexican State for Factory

December 14, 2023

In a significant development, the Nuevo Leon state in Mexico has granted Tesla $153 million in incentives as the electric car manufacturer gears up to establish a new factory. This announcement was made by the state government in an official statement on Thursday. The incentives, valued at 2.627 billion pesos ($152.86 million), received approval […]

Regional Workshop in Kuwait Highlights Synergy Between Trade and Public Health

December 14, 2023

The Regional Trade and Public Health Workshop held in Kuwait from December 10 to 14 brought together 28 senior officials specializing in health, intellectual property, and trade from WTO Arab and Middle East member countries and the Gulf Cooperation Council (GCC). The workshop, hosted by the International Monetary Fund Middle East Center for Economics and […]

WTO and IFC Collaborative Publication Highlights the Urgency to Boost Trade Finance in the Mekong Region

December 13, 2023

On December 13, the Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, and the Managing Director of the International Finance Corporation (IFC), Makhtar Diop, unveiled a jointly published report titled “Trade Finance in the Mekong Region.” The report underscores the critical need to expand trade finance in the Mekong-3 countries, namely Cambodia, Lao People’s […]

EU’s DG Trade Enhances Online Support for Service Exporters

December 13, 2023

The Directorate-General for Trade (DG Trade) of the European Union (EU) has announced a significant expansion of its online Trade Assistant for Services and Investment. This expansion now encompasses a hundred service sectors and includes four key trading partners of the EU: Canada, Japan, Switzerland, and the United Kingdom. EU-based businesses can now access […]

The Importance of Keeping Digital Trade Open: Promoting Inclusion and Growth

December 13, 2023

In today’s global economy, digital trade has taken on an increasingly significant role. From software sales to streaming services, it has become a driving force behind economic growth. However, while digital trade offers immense potential, many developing countries are struggling to fully participate in this transformative landscape. This calls for policy reforms that prioritize inclusion, […]

World Bank Adjusts Thailand’s Growth Projections to 2.5% in 2023 and 3.2% in 2024

December 13, 2023

The World Bank has revised its economic growth outlook for Thailand, projecting a growth rate of 2.5% for the year 2023, with expectations of an acceleration to 3.2% in 2024. This adjustment comes amid a recovery in tourism, robust exports, and sustained private consumption. The growth forecasts for both 2023 and 2024 have been […]

U.S. Deputy National Security Advisor Discusses Economy and Investment in Argentina

December 13, 2023

In a move to strengthen ties and collaboration between the United States and Argentina, Deputy National Security Advisor Mike Pyle held discussions with senior members of the administration of Argentine President Javier Milei. The talks focused on Argentina’s economic plans and opportunities for U.S. investment in the South American nation. During his visit to […]

WTO Members Extend Congratulations to Bhutan for Graduating from LDC Status

December 13, 2023

The Sub-Committee on Least Developed Countries (LDCs) convened on December 13, where World Trade Organization (WTO) members celebrated Bhutan’s commitment to reinvigorate negotiations for WTO accession and extended their heartfelt congratulations on Bhutan’s graduation from Least Developed Country (LDC) status. During the meeting, the United Nations Committee for Development Policy provided an update on the […]

Indonesia’s Forward-Thinking Tax Incentives Spark Surge in Electric Vehicle Investment

December 13, 2023

In a strategic move to bolster investments in the electric vehicle (EV) sector, Indonesia has introduced a range of tax incentives, unveiling its commitment to becoming a significant player in the global EV market. The recent presidential regulation, signed on December 8 and made public this week, is a signal of Jakarta’s proactive approach to […]

Trading Houses Assist Venezuela in Replenishing Fuel Stocks Under U.S. License

December 12, 2023

In the wake of the U.S. easing of oil sanctions on Venezuela in October, trading houses that initially became purchasers of Venezuelan crude have transitioned to supplying the state-owned company PDVSA with motor fuels and diluents for heavy oil production, as revealed by documents and data. As Venezuela gears up for a presidential election […]

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