Become a Member

News

Download Our Latest International Trade Reports

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

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 […]

US Oil Refiners Shift Focus to Diesel Amid Profit Challenges

October 19, 2023

US oil refineries are increasing their production of diesel, heating oil, and jet fuel for the winter season, but they are grappling with profit challenges as gasoline margins have dropped by over 80% since the conclusion of the summer driving season. Refineries, which traditionally produce higher volumes of distillates like diesel and heating oil […]

New Deputy Director-General Appointed at WTO: Johanna Hill to Play Key Role

October 18, 2023

In a significant development, WTO Director-General Ngozi Okonjo-Iweala has announced the appointment of Johanna Hill from El Salvador as the new Deputy Director-General (DDG). Ms. Hill’s appointment comes as Anabel GonzÃ¡lez of Costa Rica departs after serving as DDG for two years. Johanna Hill currently serves as the Managing Partner and Founder of the […]

Venezuelaâ€™s Oil Sanctions Eased: A Slow Path to Recovery and Profit

October 18, 2023

In a significant development, the United States has decided to ease broad sanctions on Venezuela’s oil sector, a move that could have notable implications for the country’s oil industry and its struggling economy. However, experts caution against expecting an immediate surge in oil production, emphasizing that the primary impact will be on profitability and the […]

ASEAN and Canada Forge Closer Ties, Progress Towards Free Trade Agreement

October 18, 2023

Recent developments in the relationship between ASEAN (the Association of Southeast Asian Nations) and Canada are paving the way for a promising future marked by strengthened economic cooperation. During the ASEAN Summit held in late September, Canada achieved official recognition as a strategic partner, a significant milestone in the growing alliance between the two […]

Japanâ€™s Exports Achieve Record Levels, Defying Global Economic Concerns

October 18, 2023

In a remarkable turn of events, Japan’s exports have surged to record-breaking levels in September, marking the first upswing in three months. This impressive feat can be attributed to the resurgence of Japanese automakers who have intensified shipments to the United States and Europe, capitalizing on their newfound freedom from the global chip shortage that […]

Indonesiaâ€™s Shift Towards Boxed Meat Imports Impacts Live Export Cattle Prices

October 17, 2023

In a noticeable trend, live export cattle prices to Indonesia have seen a decline, reflecting shifting dynamics in the market as Indonesia increases its imports of boxed meat. Feeder steers transported from Darwin are now fetching approximately $2.60 per kilogram, a substantial drop from the peak of $5.50 per kilogram recorded in 2022. This price […]

The International Trade Council is a global, peak-body, chamber of commerce that supports businesses and governments by providing resources, advocacy, and networking opportunities to promote international trade and foreign direct investment. It serves as a platform for organizations to collaborate, share knowledge, and navigate the complexities of global markets.

About

Resources

Legal

© 2024 - International Trade Council. A Peak-Body, International Chamber of Commerce.

Important Disclaimer: The International Trade Council is not affiliated in any way with the International Trade Centre. The International Trade Centre is a joint subsidiary organ of the United Nations (acting through UNCTAD) and the World Trade Organization. The International Trade Council is an independent peak-body chamber of commerce acting on behalf of its member businesses and governments. If you are looking for the International Trade Centre, please visit www.intracen.org.