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Canada and Taiwan Conclude Bilateral Investment Deal, Bolstering Economic Ties

October 24, 2023

Canada and Taiwan have successfully concluded negotiations for a bilateral agreement aimed at enhancing foreign investment. Canadian Trade Minister Mary Ng and the Taiwanese government announced their commitment to ensuring the swift implementation of this accord. Taiwan, in its pursuit of greater diplomatic and moral support from major Western democracies, including Canada, faces increasing […]

Dutch Lawmakers Raise Concerns Over New US Export Restrictions on ASML Chip Machine

October 24, 2023

Dutch lawmakers have questioned the Netherlands’ Trade Minister regarding the recent unilateral imposition of new export rules by the United States affecting ASML Holding, Europe’s largest tech firm. The U.S. announced last week that it would exercise the right to restrict the export of ASML’s Twinscan NXT1930Di chipmaking machine to China if it contains […]

Costa Rica and Honduras Resolve Visa Dispute, Easing Trade and Travel

October 24, 2023

The Presidents of Costa Rica and Honduras have come to an agreement to reverse the recent visa requirements imposed on travelers from each other’s countries. This resolution follows two weeks of negotiations to resolve the dispute that had disrupted Central American trade. One of the crucial aspects of the deal is the allowance for […]

Historic Agreement on Fisheries Subsidies Nears Entry into Force as WTO Members Step Up Acceptance

October 23, 2023

In a significant move towards the realization of the historic Agreement on Fisheries Subsidies, seven WTO member countries formally accepted the agreement on October 23rd, bringing the much-anticipated entry into force one step closer. The ratification ceremony took place during the two-day Senior Officials Meeting held at the WTO’s headquarters in Geneva. Albania, Australia, Botswana, […]

Australian Prime Minister’s Visit to China Marks Progress in Resolving Wine and Wind Tower Disputes

October 21, 2023

Australian Prime Minister Anthony Albanese has announced his upcoming visit to China from November 4 to 7, where he will meet with President Xi Jinping and Premier Li Qiang. The visit aims to restore stability to relations between Australia and its largest trading partner. This visit to Beijing and Shanghai marks a significant diplomatic […]

Argentina and Brazil Request Financial Aid in EU-Mercosur Trade Talks

October 20, 2023

In ongoing negotiations to finalize a trade agreement between the European Union and South America’s Mercosur bloc, Argentina and Brazil have jointly requested €12.5 billion (approximately $13.2 billion) in financial assistance from the European Union, as per a document seen by Reuters. The request aims to secure support to mitigate the potential challenges posed by […]

Malaysia Proposes Groundbreaking Free Trade Agreement Between ASEAN and Gulf Council

October 20, 2023

At the ASEAN-GCC Summit held in Saudi Arabia, Malaysia’s Prime Minister, Anwar Ibrahim, unveiled a groundbreaking proposal for the creation of a free trade agreement (FTA) between the Association of Southeast Asian Nations (ASEAN) and the Gulf Cooperation Council (GCC). This visionary agreement, if realized, would mark a historic first between ASEAN nations and the […]

Germany Boosts Global Trade Skills with EUR 500,000 Contribution

October 20, 2023

In a significant move to empower developing and least-developed economies (LCDs) in the realm of global trade negotiations, the German government has pledged EUR 500,000 (approximately CHF 480,000). This generous contribution was formalized through the signing of a Memorandum of Understanding by Germany’s Alternate Permanent Representative to the World Trade Organization (WTO), Bettina Waldmann, on […]

China Extends Support to Sri Lanka with No Political Conditions and Increased Imports

October 20, 2023

In a recent development, China has expressed its willingness to assist Sri Lanka without imposing any political conditions and has also pledged to increase its imports from the island nation. Chinese President Xi Jinping conveyed this commitment during a meeting with Sri Lankan President Ranil Wickremesinghe in Beijing, as reported by state media. This […]

EU Presses for Substantial Market Access in Trade Agreement Talks with India

October 20, 2023

Efforts are underway within the European Union (EU) to encourage India to provide meaningful access to its markets as part of negotiations for a free trade agreement. The call for substantial market access was made by Spanish Deputy Trade Minister Xiana Mendez during an EU meeting, which was presided over by Spain as part of […]

US Senators Propose Legislation to Support Enforcement of Iran Oil Sanctions

October 19, 2023

Bipartisan efforts are underway in the U.S. Senate to introduce legislation aimed at strengthening the enforcement of oil sanctions on Iran. Senator Joni Ernst, a Republican, is leading the charge for this bill, set to be unveiled on Monday. The proposed legislation seeks to establish a $150 million Iranian sanctions enforcement fund specifically designated for […]

Venezuela Reaches Out to Former Oil Clients as U.S. Sanctions Temporary Lifted

October 19, 2023

In a recent development, China has expressed its willingness to assist Sri Lanka without imposing any political conditions and has also pledged to increase its imports from the island nation. Chinese President Xi Jinping conveyed this commitment during a meeting with Sri Lankan President Ranil Wickremesinghe in Beijing, as reported by state media. This […]

EU and US Seek Resolution to Trade Disputes for Mutual Benefit

October 19, 2023

In a bid to foster cooperation and tackle trade disputes, European Council President Charles Michel emphasized the need for the European Union and the United States to work together to find mutually beneficial solutions. This statement comes as top EU officials embark on a diplomatic mission to Washington with the aim of reaching agreements that […]

EU and US Seek Resolution to Trade Disputes Ahead of Summit

October 19, 2023

European Council President Charles Michel has stressed the importance of finding mutually beneficial solutions to resolve trade disputes between the European Union (EU) and the United States. As US President Joe Biden prepares to host European Commission chief Ursula von der Leyen and Michel for a White House meeting to demonstrate unity in the face […]

WTO Seeks Member Input on E-Commerce Work Program Ahead of MC13

October 19, 2023

Ambassador Usha Dwarka-Canabady of Mauritius, the facilitator of the Work Programme on Electronic Commerce at the World Trade Organization (WTO), conducted a dedicated session on October 18th to gather member input on the forthcoming 13th Ministerial Conference (MC13). During the meeting, Ambassador Dwarka-Canabady reported on her consultations with WTO members regarding potential outcomes at MC13 […]

Persistent Low Water Levels in Mississippi River Challenge Global Grain Trade Despite Predicted Drought Alleviation

October 19, 2023

The International Trade Council brings into focus the ongoing crisis faced by the global grain market due to the unyielding low water predicaments on the Mississippi River, despite NOAA’s forecasts of potential drought improvement in the Southern US over the coming winter. The National Oceanic Atmospheric Administration (NOAA) highlighted in its recent U.S. winter […]

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