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

Australia and Vietnam Elevate Relations, Initiate Talks on Critical Minerals Cooperation

March 6, 2024

Daisy

In a significant diplomatic move, Australia and Vietnam have announced an upgrade in their bilateral relations to a comprehensive strategic partnership. This development, revealed by Australian Prime Minister Anthony Albanese on Thursday, includes the commencement of annual discussions on minerals, underscoring efforts to diversify supply chains away from China.   The enhanced partnership signifies a […]

Vietnam’s Diplomatic Successes Highlighted in Bamboo Diplomacy Advancement

March 6, 2024

Daisy

Vietnam, under the leadership of Communist Party General Secretary Nguyen Phu Trong, continues to bolster its international standing through strategic diplomacy, termed “bamboo diplomacy,” with recent successes including upgraded ties with major global players.   In the latest development, Vietnam elevated its relationship with Australia, marking another milestone in its diplomatic outreach. This achievement comes […]

Japan’s Contribution to WTO Empowers Developing Economies in Trade Capacity Building

March 6, 2024

Daisy

In a commitment to bolster inclusive global trade, Japan pledges EUR 115,000 (about CHF 108,000) to the WTO’s Global Trust Fund for 2024, aiming to support training programs for government officials from developing economies and least-developed countries (LDCs).   This contribution underscores Japan’s dedication to enhancing the trade-related capabilities of developing nations, enabling them to […]

Australia Launches $1.3 Billion Fund to Enhance Trade with Southeast Asia

March 5, 2024

Daisy

Australia has announced plans to establish a significant finance facility worth A$2 billion ($1.3 billion) aimed at boosting trade and investment in Southeast Asia, demonstrating its commitment to strengthening ties with the ASEAN bloc, which stands as the country’s second-largest two-way trading partner.   Treasurer Jim Chalmers emphasized the importance of the region, stating, “Our […]

Vietnam’s Shrimp Exports Expected to Surpass $4 Billion in 2024

March 5, 2024

Daisy

Vietnam’s shrimp export industry is projected to see a notable increase of 10-15 percent this year, reaching a turnover of $4-4.3 billion, as reported by the Vietnam News Agency on Monday, citing the Vietnam Association of Seafood Exporters and Producers.   The United States and China are anticipated to maintain their positions as the top […]

German Exports Surge in January, Boosting International Trade Prospects

March 5, 2024

Daisy

Germany experienced a notable surge in exports at the beginning of the year, driven by increased demand from European Union nations and China, according to data released by the federal statistics office.   In January, exports soared by 6.3% compared to the previous month, surpassing expectations of a 1.5% increase projected in a Reuters poll. […]

Malaysia Awaits $5 Billion Investment from Australian Firms

March 5, 2024

Daisy

Malaysia Anticipates $5 Billion Investment from Australian Companies. Malaysia is poised to welcome investments totaling up to 24.5 billion ringgit ($5.17 billion) from Australian firms, according to Prime Minister Anwar Ibrahim, as reported by state news agency Bernama on Wednesday.   Leading the investment charge are Australian data center operators AirTrunk and NextDC, with plans […]

EU Officials Propose Measures to Strengthen Defense Industry Cooperation

March 5, 2024

Daisy

Top European Union officials unveiled plans on Tuesday to enhance collaboration within the continent’s defense industry, citing the need for increased joint procurement of weapons among member countries. The European Commission, the EU’s executive body, proposed allocating 1.5 billion euros ($1.63 billion) to incentivize collective purchases from European firms and foster the development of new […]

WTO Advanced Global Workshop Opens Applications for Government Procurement Training

March 5, 2024

Daisy

Government officials from WTO member countries and observer nations eligible for technical assistance are encouraged to apply for the 2024 Advanced Global Workshop on the Agreement on Government Procurement (GPA) 2012. Scheduled from April 29 to May 3, 2024, the workshop aims to enhance participants’ understanding of key issues related to government procurement, international trade, […]

Egypt Considering Further Expansion of Suez Canal to Boost Shipping Capacity

March 4, 2024

Daisy

In a bid to enhance its pivotal role in global trade, Egypt is contemplating additional expansions to the Suez Canal, aiming to extend and finalize a second channel of the waterway. The head of the canal announced this development on Monday, emphasizing its potential to accommodate higher volumes of shipping and prevent disruptions that could […]

Philippines and Cambodia Forge Stronger Rice Trade Partnership

March 4, 2024

Daisy

In a bid to bolster their rice trade amidst the challenges posed by the current El NiÁ ±o phenomenon, the Philippines and Cambodia have pledged to strengthen their collaboration in agricultural trade, particularly focusing on rice.   During a meeting between President Ferdinand Marcos Jr. and Cambodian Prime Minister Hun Manet on March 4, 2024, […]

South Africa Launches Safeguard Investigation on Flat-Rolled Steel Products

March 4, 2024

Daisy

South Africa has initiated a safeguard investigation into certain flat-rolled products of iron, non-alloy steel, or other alloy steel, as reported to the WTO’s Committee on Safeguards on February 29, 2024.   In this notification, South Africa outlined the procedure for interested parties to participate in the investigation. Interested parties are required to make themselves […]

Vietnam’s Fruit and Vegetable Exports Surge by 38%

March 4, 2024

Daisy

Vietnam’s fruit and vegetable exports have witnessed a remarkable increase of 38%, totaling approximately $749.7 million in the first two months of the year. Projections indicate a promising outlook for the industry, with expectations of reaching a peak near $7 billion by the end of the year. The sector’s growth momentum is anticipated to persist […]

U.S. Corn and Soy Crucial for Boosting Red Meat Exports

March 4, 2024

Daisy

At the recent Commodity Classic event, thousands of growers convened to discuss industry trends and developments. Among them was Randy Spronk, Chair of the U.S. Meat Export Federation (USMEF) and a prominent pork and grain producer from Edgerton, Minn. Together with other USMEF leaders, Spronk expressed gratitude to corn and soybean producers for their invaluable […]

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