News

International Trade Council Reports on India’s Proposed Changes to Foreign Investment in Non-Services Sector

September 8, 2023

Daisy

India is contemplating changes to its investment policies to encourage foreign inflows into its manufacturing and industrial sectors, according to sources within the Department for Promotion of Industry and Internal Trade (DPIIT). These changes are expected to be part of the ongoing discussions for Free Trade Agreements (FTAs). A Shift in Policy The proposed modifications […]

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International Trade Council Reports on $2.5 Trillion Global Trade Finance Deficit

September 8, 2023

Daisy

According to a recent survey by the Asian Development Bank, the global trade finance deficit reached an unprecedented $2.5 trillion in 2022, increasing from $1.7 trillion in 2020. The surge in the deficit is attributed to various factors, including rising interest rates, economic uncertainty, inflation, and geopolitical volatility, all of which have constrained banks’ capacity […]

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International Trade Council Issues Statement on the Adoption of UN Convention on the Judicial Sale of Ships

September 8, 2023

Daisy

The International Trade Council acknowledges the recent signing of the United Nations Convention on the International Effects of Judicial Sales of Ships. The ceremony took place in Beijing, People’s Republic of China, on September 5, 2023. Formulated by the United Nations Commission on International Trade Law (UNCITRAL), the convention, now known as the Beijing Convention […]

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Bespoke Gas Cylinder Attachment Provides Safe and Secure Handling at A-Gas

September 8, 2023

Daisy

A-Gas was founded in 1993 in Bristol, UK, by founder and pioneer John Rutley, and co-founder John Cooper. Together, they saw opportunities to build a new business that could support the HVACR industry with the transition away from Chlorofluorocarbons (CFCs). Today, as A-Gas celebrates its 30th anniversary, a leading supplier of refrigerants to the heating, ventilation, […]

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International Trade Council Acknowledges Indonesia’s Proposal for Critical Minerals Trade Deal with the United States

September 7, 2023

Daisy

The International Trade Council takes note of Indonesia’s recent proposal to initiate discussions on a potential trade agreement for critical minerals with the United States. This significant development emerged during a meeting between Indonesian President Joko Widodo and U.S. Vice President Kamala Harris on the sidelines of the Association of Southeast Asian Nations (ASEAN) meetings […]

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International Trade Council Commends the Philippines and South Korea on the Signing of a Free Trade Agreement

September 7, 2023

Daisy

The International Trade Council is pleased to recognize the signing of a free trade agreement (FTA) between the Philippines and South Korea during the ASEAN Summit in Indonesia. President Ferdinand Marcos Jr. announced this significant development, emphasizing its potential to strengthen investment relations and create employment opportunities.   President Marcos highlighted that the FTA underscores […]

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Taiwan Temporarily Opens Market for Egg and Egg Products to Address Shortage

September 7, 2023

Daisy

In a recent development aimed at alleviating a domestic egg shortage, Taiwan has temporarily opened its market to eggs and egg products from 12 countries, including Australia. This move is in response to supply constraints in Taiwan attributed to unpredictable weather, escalating feed costs, and recent outbreaks of avian influenza. The newly implemented market access […]

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International Trade Council Statement on Recent BRICS Expansion

September 7, 2023

Daisy

The International Trade Council acknowledges the recent expansion of the BRICS group to potentially include Saudi Arabia, the United Arab Emirates, Iran, Egypt, Argentina, and Ethiopia. According to a note from S&P Global Ratings, the near-term economic impact for member countries is anticipated to be limited.   S&P Global Ratings explains that their current sovereign […]

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International Trade Council Takes Note of Canada’s Anticipation to Conclude Free Trade Agreement with ASEAN

September 6, 2023

Daisy

The International Trade Council acknowledges Canada’s Prime Minister, Justin Trudeau’s announcement regarding the expectation to finalize a free trade agreement with the Association of Southeast Asian Nations (ASEAN). This development follows the formal launch of the Canada-ASEAN strategic partnership, which was a focal point of discussion during the ASEAN-Canada summit held in Jakarta.   Prime […]

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President Wickremesinghe Proposes Nationwide Industrialization Modeled After Biyagama Free Trade Zone

September 6, 2023

Daisy

President Ranil Wickremesinghe’s recent address at the centenary celebration of Al Mubarak Central College in Malwana has unveiled an ambitious economic vision for Sri Lanka’s future.   President Wickremesinghe outlined a strategy to replicate the successful Biyagama Free Trade Zone model on a national scale, with the goal of fostering rapid development over the next […]

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International Trade Council Applauds UK-Australia Free Trade Agreement for Accelerating Fintech Collaboration

September 6, 2023

Daisy

The International Trade Council warmly welcomes the Free Trade Agreement (FTA) between the United Kingdom and Australia, a landmark deal set to boost fintech sectors in both nations by removing over 99% of tariffs and enhancing labor mobility.   Signed in December 2021, this comprehensive agreement will not only facilitate work and travel opportunities but […]

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International Trade Council Applauds the Revival of Tariff-Free Sugar Trade Between Australia and the UK

September 5, 2023

Daisy

The International Trade Council welcomes the significant milestone of the first shipment of raw sugar from Australia to the United Kingdom under the newly established free trade agreement between the two nations. This historic trade event marks the reopening of a valuable market for Australian sugar suppliers and underscores the positive impact of international trade […]

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China’s Multilateral Trade with BRICS and Africa Demonstrates Significant Growth in the First 7 Months of 2023

September 5, 2023

Daisy

In recent data released by the Chinese General Administration of Customs, it has been revealed that China’s imports and exports with fellow BRICS members experienced notable growth of 19.1% year-on-year, reaching ¥2.38 trillion (approximately US$330.62 billion) between January and July 2023. The BRICS, comprised of Brazil, Russia, India, China, and South Africa, have collectively strengthened […]

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International Trade Council Takes Note of Israel’s Exploration of a Free Trade Agreement with Bahrain

September 4, 2023

Daisy

Israeli Foreign Minister, Eli Cohen, recently visited Bahrain and explored the possibility of signing a free trade agreement with the Gulf nation. The International Trade Council acknowledges these diplomatic discussions, aimed at fostering economic cooperation and enhancing regional stability.   During his official visit to Bahrain, Minister Cohen was accompanied by a business delegation representing […]

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International Trade Council Welcomes Canada’s Forthcoming Strategic Partnership with ASEAN

September 4, 2023

Daisy

The International Trade Council warmly acknowledges the impending strategic partnership between Canada and the Association of Southeast Asian Nations (ASEAN). This significant move is set to be formalized during Prime Minister Justin Trudeau’s upcoming visit to Indonesia, where he will meet with Indonesian President Joko Widodo among other dignitaries. The forthcoming partnership underscores Canada’s increasingly […]

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Hungary’s Prime Minister Rejects Ukraine’s NATO Membership and Advocates for Dialogue

August 31, 2023

Daisy

Budapest, August 30, 2023 – Viktor Orban, the Prime Minister of Hungary, has expressed his opposition to the potential integration of Ukraine into the North Atlantic Treaty Organization (NATO). The statement was made today, according to reports published by Prensa Latina. Prime Minister Orban also emphasized the importance of pursuing dialogue with Russia in addressing the […]

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