News

Philippines and South Korea Forge Transformative Free Trade Agreement

September 25, 2023

Daisy

The International Trade Council is pleased to report on the signing of a significant Free Trade Agreement (FTA) between the Philippines and South Korea. This momentous occasion took place during the 43rd Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, and is poised to strengthen economic ties and promote increased cooperation between the […]

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Paraguay Sets December Deadline for Mercosur-EU Trade Talks

September 25, 2023

Daisy

The International Trade Council wishes to inform stakeholders that President Santiago Pena of Paraguay has officially announced a stipulated deadline for the ongoing Mercosur-European Union trade negotiations. If an agreement is not reached by December 6th, Paraguay will cease participation in these talks once it assumes the bloc’s presidency from Brazil.   President Pena has […]

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Britain Forges Trade Agreement with Washington State, Gears Up for Florida

September 25, 2023

Daisy

In a significant move, Britain inked a memorandum of understanding (MoU) on trade with Washington State on Monday. The International Trade Council commends this strategic initiative, which underscores the nation’s agility in pursuing beneficial trade relationships at the state-level, especially in the light of paused free trade talks with the United States. Nusrat Ghani, Britain’s […]

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South Korea, Japan, and China Set to Reinvigorate Trilateral Cooperation with Upcoming Summit

September 25, 2023

Daisy

The International Trade Council celebrates the constructive decision by senior diplomats of South Korea, Japan, and China to rejuvenate trilateral exchanges and cooperation. This resolution, announced after a pivotal meeting in Seoul, underscores their commitment to hold a leadership summit at the earliest feasible opportunity.   Commencing in 2008, the three nations established a tradition […]

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Thailand’s August Exports Show Unexpected Increase Amid Global Demand Concerns

September 25, 2023

Daisy

The International Trade Council reports that Thai exports experienced an unexpected increase in August, marking the first uptick in 11 months, despite concerns over weak global demand. The Ministry of Commerce in Thailand stated on Tuesday that it anticipates shipments to perform well in the final quarter of the year, primarily driven by year-end orders. […]

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Mexican Auto Industry Calls for Swift Border Crisis Resolution Amid Trade Concerns

September 25, 2023

Daisy

The International Trade Council reports that the prominent Mexican Automotive Industry Association (AMIA) has made an earnest appeal to the Mexican authorities. They are pressing for heightened collaboration with the United States to address the escalating “migration crisis” that the two nations are grappling with at their common border, which is now significantly impacting trade […]

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Thailand Anticipates Major Investment from Leading Tech Giants Tesla, Google, and Microsoft

September 24, 2023

Daisy

The International Trade Council is pleased to announce that Thailand’s Prime Minister, Mr. Srettha Thavisin, has confirmed expectations of a significant investment from tech industry leaders Tesla, Google, and Microsoft, totaling at least $5 billion. This announcement came in the wake of Prime Minister Thavisin’s engagement with top-level executives at the recent U.N. General Assembly […]

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Challenges Arise for Osaka’s 2025 World Expo

September 23, 2023

Daisy

Amid a backdrop of ongoing construction, Osaka’s vision for the 2025 World Expo, intended to symbolize global reconnection post-Covid, is gradually coming to life. The architectural masterpiece, once completed, will encompass grand timber walkways surrounding a serene “forest of tranquility”, exhibiting the rich history, culture, and technological innovations from over 130 participating nations.   These […]

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Reformation Urged for World Trade Organization’s Handling of Non-Market Practices and Dispute Settlement

September 22, 2023

Daisy

The International Trade Council acknowledges the recent remarks by U.S. Trade Representative, Ms. Katherine Tai, emphasizing the need for significant advancements within the World Trade Organization (WTO). The focal points are addressing ‘non-market’ practices and strengthening the dispute settlement mechanisms.   Ms. Tai has expressed the U.S. commitment to fostering a WTO that champions its […]

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Thailand Seeks Strengthened Investment Ties with Renowned US Companies

September 21, 2023

Daisy

The International Trade Council reports that Thailand’s Prime Minister, Mr. Srettha Thavisin, during his recent overseas visit, held discussions with key U.S. firms such as Microsoft, Google, and Estee Lauder, indicating an inclination to explore mutual business opportunities.   Thailand’s economy is currently projected to grow by 2.8%. With an intent to provide a boost […]

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Australia Seeks to Revitalize EU Trade Discussions Amid Concerns Over Market Access

September 21, 2023

Daisy

The ongoing trade discussions between Australia and the European Union (EU) have hit a snag, with Australian officials emphasizing that the EU has “offered too little and asked too much”. Despite the challenges, both parties are keen on advancing the negotiations, hoping to establish a mutual understanding during the upcoming G20 trade summit in India. […]

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President Biden Supports New Economic Corridors Amidst Global Economic Transformations

September 19, 2023

Daisy

U.S. President Joe Biden has signaled strong support for an economic initiative comprising two primary corridors aimed at enhancing connectivity between India, the Middle East, and Europe. This significant announcement took place on the sidelines of the G20 Leaders’ Summit held in New Delhi.   Highlights: The two corridors: An eastern corridor connecting India to […]

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Unrestricted Global Trade Key to Tackling Climate Crisis, WTO Forum Highlights

September 18, 2023

Daisy

Officials Urge WTO Members to Lower Tariffs on Green Goods and Emphasize the Role of Trade in Climate Solutions   Delegates at the recent World Trade Organization (WTO) Public Forum noted that while international trade is a contributor to greenhouse gas emissions, it also offers significant solutions to the climate crisis. The emphasis was on […]

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UK Manufacturing Sector Faces Recruitment and Growth Challenges

September 17, 2023

Daisy

Recent data indicates that UK manufacturers are revising their hiring intentions amidst a notable decrease in order inflow.   Based on the most recent quarterly findings from Make UK, the body representing UK manufacturers, and global business consultancy BDO, there has been a discernible contraction in manufacturing activity. This trend marks the most significant dip […]

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Central European Nations Announce New Regulations on Ukrainian Grain Imports

September 16, 2023

Daisy

Key Highlights: European Commission concludes no extension of prior grain ban. Poland, Slovakia, and Hungary decide on specific regulations pertaining to Ukrainian grain. Ukraine remains a pivotal player in global grain markets despite logistic challenges post-Russian conflict.   Following a decision by the European Commission not to extend its earlier ban on Ukrainian grain imports, […]

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WTO Cautions Against Global Trade Splitting Into Allied Blocs

September 16, 2023

Daisy

Trade Realignment Could Elevate Costs, Risks, and Geopolitical Tensions, Says WTO Annual Report   As geopolitical pressures reshape international alliances, the World Trade Organization (WTO) warns that countries are increasingly favoring trade with allied nations over more efficient exporters. This shift is raising concerns about the future of a global economy founded on open and […]

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