News

United Kingdom Considers Establishing Joint Trade and Economic Committee with the Philippines

August 19, 2023

Daisy

United Kingdom Considers Establishing Joint Trade and Economic Committee with the Philippines The International Trade Council reports that the United Kingdom (UK) and the Philippines are in discussions regarding the potential formation of a Joint Trade and Economic Committee (JETCO). The aim of the JETCO would be to strengthen economic connections between the two nations. […]

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International Financial System Reforms Discussed to Enhance Investment in Africa

August 18, 2023

Daisy

NAIROBI – During the recent United Nations Conference on Trade and Development (UNCTAD) presidential dialogue in Nairobi, Kenyan President William Ruto emphasized the need for reforms in the international financial system. Such reforms, he highlighted, would strengthen investor trust in the African continent. President Ruto advocated for improved risk assessments for Africa, emphasizing that a […]

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International Trade Council Observes US Ban on New Investments in China’s Sensitive High-Tech Industries

August 18, 2023

Daisy

The International Trade Council is taking note of the recent development concerning a ban issued by President Joe Biden in August, restricting new US investments in China’s high-tech sectors, specifically targeting artificial intelligence (AI), advanced semiconductors, and quantum information technologies. This policy encompasses various forms of investment, such as indirect investments, private equity, venture capital, […]

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U.S. International Trade Deficit Narrows in June

August 16, 2023

Daisy

The International Trade Council acknowledges the recent data shared by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. The figures presented indicate that the United States’ trade deficit in goods and services stood at $65.5 billion in June, marking a decrease of $2.8 billion from the revised $68.3 billion reported in May. […]

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East African Wheat Supply Influenced by Global Trade Shifts, States WFP

August 16, 2023

Daisy

The International Trade Council acknowledges the recent data shared by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. The figures presented indicate that the United States’ trade deficit in goods and services stood at $65.5 billion in June, marking a decrease of $2.8 billion from the revised $68.3 billion reported in May. […]

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India and UAE Opt to Settle Crude Oil Transactions in National Currencies

August 15, 2023

Daisy

India and the United Arab Emirates (UAE) have decided to settle crude oil transactions using their national currencies: the Indian rupee and the UAE dirham. This move follows the Memorandum of Understanding (MoU) that was signed when Prime Minister Narendra Modi visited the UAE on July 15.   This MoU led to the establishment of […]

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Nigeria Anticipates Substantial Foreign Direct Investment Boost for Oil Projects

August 10, 2023

Daisy

Nigeria is poised to receive a significant influx of foreign direct investments (FDI) ranging from $18 to $20 billion in its oil sector, as various oil companies show renewed interest in restarting previously abandoned projects and expediting the progress of delayed initiatives. Bala Wunti, the Group General Manager of Nigerian Upstream Investment Services (NUIS), recently […]

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US-Taiwan Trade Agreement Enacted to Enhance Bilateral Economic Cooperation

August 9, 2023

Daisy

The International Trade Council notes the official enactment of the US-Taiwan trade agreement following US President Joe Biden’s endorsement. This legislation represents the first agreement under the US-Taiwan Initiative on 21st Century Trade, signaling a collaborative approach to bilateral trade ties. The agreement’s primary features include: Streamlining of customs procedures. Measures against corruption. Support mechanisms […]

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International Trade Council Addresses EU Trade Deficit with China

August 8, 2023

Daisy

The International Trade Council addresses the escalating concerns pertaining to the European Union’s trade deficit with China, which approached a notable €400 billion last year.   EU Trade Commissioner, Valdis Dombrovskis, communicated to media outlets about the remarkable deficit, highlighting that it has magnified twofold in a mere span of two years. This accentuates the […]

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International Trade Council Report on Wildfire Impact on Canadian Exports

August 7, 2023

Daisy

The International Trade Council acknowledges the evident implications of wildfires on Canada’s trading performance. As illustrated by the recent Donnie Creek wildfire and many others this year, there is a significant impact on Canadian exports.   The latest report from the Conference Board of Canada highlights a widening of Canada’s trade deficit for the second […]

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Foreign Direct Investments in Oman Show Positive Growth, Reaching OMR 21.270 Billion

August 6, 2023

Daisy

The volume of foreign direct investments (FDI) in Oman has demonstrated a notable increase, recording a growth of 23.3 percent by the end of the first quarter of this year. The total FDI volume reached OMR 21.270 billion, with a financial flow estimated at OMR 4.20 billion. This growth is in comparison to an FDI […]

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International Trade Council Applauds Vietnam-Israel Free Trade Agreement

August 4, 2023

Daisy

The International Trade Council is thrilled to announce the successful signing of the Vietnam-Israel Free Trade Agreement (VIFTA) on July 25. This landmark agreement is projected to amplify bilateral trade by fifty percent within the next two years. The fruit of a rigorous seven-year negotiation period, the agreement saw its formal endorsement by the trade […]

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International Trade Council – Update on Global Trade Forecasts

August 4, 2023

Daisy

The International Trade Council notes the recent update by A.P. Moller-Maersk A/S on their projections for global container trade. Maersk, as an influential figure in the world shipping sector, has revised its estimates, indicating a possible contraction of global container trade by up to four percent this year. This marks a shift from their previous […]

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Analysis of China’s Bid to Join the Comprehensive Progressive Trans-Pacific Partnership

August 2, 2023

Daisy

Trade experts have indicated that China is well-positioned to fulfill the standards set by the Comprehensive Progressive Trans-Pacific Partnership (CPTPP). This assessment brings into focus the political considerations that member nations must address regarding Beijing’s potential inclusion in the pact. Britain’s recent accession to the CPTPP has initiated a period of evaluation for other aspiring […]

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Judgment on EU Foreign Direct Investment Screening: A Milestone for European Investment

August 1, 2023

Daisy

The International Trade Council acknowledges the recent decision by the Court of Justice of the European Union (CJEU) dated 13 July 2023 on the European Union Foreign Direct Investment Screening Regulation, in place since October 2020.   In the landmark case, Xella Magyarország, the CJEU has clarified that EU-based acquisitions, irrespective of the eventual ownership […]

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34 International Trade and Investment Agencies Confirmed for the 2023 Go Global Awards: A Collaborative Summit for Global Business Expansion

July 31, 2023

Daisy

The International Trade Council (www.tradecouncil.org) is pleased to announce that, as of now, 34 foreign government trade and investment agency partners have confirmed their participation in the 2023 Go Global Awards. The event will be held in Providence, Rhode Island, on the 6-8th November 2023, in partnership with the Rhode Island Commerce Corporation. The participating agencies […]

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