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WTO Deputy Director-General Emphasizes Role in Combating Illegal Food Trade

December 11, 2023

In a recent virtual agriculture symposium titled “Illicit Trade in Food and Food Fraud,” Deputy Director-General of the World Trade Organization (WTO), Jean-Marie Paugam, highlighted the crucial role of WTO rules in addressing the issue of illegal food trade. Paugam emphasized that the WTO’s rulebook provides a legal framework for international food trade, making it […]

China’s President Xi Jinping Visits Vietnam to Strengthen Economic Ties

December 11, 2023

Chinese President Xi Jinping has embarked on a two-day visit to Vietnam, seeking to bolster economic relations between the two nations. This visit follows U.S. President Joe Biden’s recent trip to Hanoi, highlighting the competition for influence in Southeast Asia between the world’s two major powers. Xi’s visit, his first in six years, has […]

UNCTAD Forecasts Global Trade Outlook for 2023: Anticipates 5% Contraction

December 11, 2023

In a recent Global Trade Update, the United Nations Conference on Trade and Development (UNCTAD) has released a projection indicating that global trade is expected to contract by 5% in 2023 compared to the previous year. The report also presents a cautious outlook for 2024. According to UNCTAD’s findings, the global commerce volume for […]

Taiwan Central Bank Expected to Maintain Steady Policy in 2024 Amid Cooling Inflation

December 11, 2023

Taiwan’s central bank is anticipated to maintain its current policy rate this week and throughout the entirety of 2024, as inflation gradually eases, according to a recent survey of economists conducted by Reuters. It is expected that the central bank will leave the benchmark discount rate unchanged at 1.875% during its upcoming quarterly meeting, with […]

Saudi Investment Minister Holds Productive Talks with Chinese Commerce and Industry Leaders

December 10, 2023

Saudi Arabia’s Minister of Investment, Khalid Al-Falih, engaged in fruitful discussions with China’s top officials in commerce and industry during a meeting held in Beijing on Sunday. The agenda revolved around enhancing cooperation in various areas, including trade, investment, and technology, according to statements from the Chinese ministries. Chinese Commerce Minister Wang Wentao expressed […]

Global Commodities Traders Vow to Safeguard South American Grasslands at COP28

December 9, 2023

Eight of the world’s leading commodities traders have made a significant commitment to cease purchasing soy from farms that harm South American grasslands, reinforcing their prior promises to avoid suppliers involved in forest clearing. This landmark announcement was made during the COP28 climate summit. This pledge holds immense potential for the conservation of […]

Global Report Highlights Trade’s Crucial Role in Advancing Green Hydrogen Markets

December 9, 2023

A collaborative report from the International Renewable Energy Agency (IRENA) and the World Trade Organization (WTO), released on December 9th, sheds light on the global hydrogen trade landscape and the policies required to escalate green hydrogen production. Green hydrogen, produced exclusively from renewable energy sources, has emerged as a pivotal element in the transition away […]

Turkey Expresses Concern Over Link Between Drone-Camera Exports and Sweden’s NATO Membership

December 8, 2023

Turkish President Tayyip Erdogan has voiced concerns over a reported linkage between the export of drone cameras to Turkey and Sweden’s NATO membership bid, involving Canada and the United States. In an interview transcript released on Friday, Erdogan highlighted that both Canada and the United States were stipulating that Ankara ratify Sweden’s NATO membership bid […]

U.S. Initiates Informal Talks on the Future of North American Trade Agreement

December 8, 2023

U.S. officials have initiated preliminary discussions to prepare for potential negotiations regarding the future of the North American Free Trade Agreement (NAFTA), as stated by David Cohen, the U.S. Ambassador to Canada, in an interview with CBC News published on Saturday. Ambassador Cohen disclosed that the United States has embarked on initial internal deliberations […]

U.S. Secretary Raimondo Holds Positive Discussion with Turkey’s Minister of Trade Omer Bolat

December 8, 2023

In a significant diplomatic exchange, U.S. Secretary of Commerce, Gina M. Raimondo, held a productive conversation with Turkey’s Minister of Trade, Omer Bolat, with the aim of reinforcing bilateral and commercial ties between the two nations. Secretary Raimondo warmly congratulated Minister Bolat on his recent appointment and conveyed the Department’s unwavering commitment to enhancing […]

WTO Members Pledge to Intensify Work on Fisheries Subsidies Ahead of MC13

December 8, 2023

At the conclusion of the final Fish Week held from December 4-8, WTO members reasserted their commitment to the ongoing fisheries subsidies negotiations. Despite being unable to reach a conclusive agreement by December, they expressed optimism about achieving a successful outcome at the 13th Ministerial Conference (MC13) scheduled for February. Director-General Ngozi Okonjo-Iweala and Ambassador […]

Romania’s Ambitious Plan to Elevate Ukraine’s Grain Transit Nears Fruition

December 7, 2023

In a promising development, Romania is steadily progressing toward its goal of enhancing the monthly transit capacity for Ukrainian grain through the Black Sea port of Constanta to an impressive four million metric tons, according to statements made by the country’s Transport Minister. The announcement comes in the wake of a meeting that brought together […]

US and Mexico Collaborate to Strengthen Investment Security Screening

December 7, 2023

In a significant move aimed at bolstering national security, the U.S. Treasury has announced a formal agreement with Mexico’s finance ministry to cooperate on enhancing the screening of foreign investments. This collaborative effort includes the regular exchange of information regarding best practices in investment security. The Biden administration has been actively promoting Mexico as […]

Chinese President Xi Jinping to Strengthen Ties with Vietnam during Upcoming Visit

December 7, 2023

China’s President Xi Jinping is scheduled to visit Vietnam on December 12-13, with the aim of meeting top state officials and further enhancing the bilateral relations between the two nations, as announced by the Chinese foreign ministry. During the visit, discussions will center on a range of key areas, including political security, multilateral cooperation, […]

Mercosur Summit Addresses Uncertainty Surrounding EU Trade Deal

December 7, 2023

Leaders from the Mercosur nations convened for their annual summit, with uncertainties looming over the fate of a crucial trade agreement with the European Union (EU) and the future of the South American common market. The primary goal had been to announce a free trade agreement with the EU, potentially opening up markets for a […]

New Report Explores Opportunities and Challenges for Developing Economies in Digital Trade

December 7, 2023

A recently launched joint report titled “Digital Trade for Development” delves into the potential opportunities and challenges those developing economies may encounter in the realm of digital trade. This collaborative publication involves five prominent international organizations: the International Monetary Fund (IMF), the Organization for Economic Co-operation and Development (OECD), the United Nations Conference on Trade […]

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