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

International Trade Council Highlights Key Issues at WTO’s High-Level Meeting

June 12, 2022

Daisy

The International Trade Council acknowledges the importance of the ongoing high-level meeting held by the World Trade Organization (WTO) – the first in 4-1/2 years – which brings together over 120 ministers from the organization’s 164 member countries. The meeting is set to address significant issues such as pandemic preparedness, food insecurity, and overfishing.   […]

Taiwan and US Purportedly Working on Trade Deal

May 31, 2022

Daisy

International Trade Council (ITC) announced that the United States and Taiwan are working on a deal to boost economic cooperation, particularly in the areas of trade, agriculture, and supply chains. The move comes after Taiwan was excluded from the US President Joe Biden’s Indo-Pacific Economic Framework (IPEF). According to sources cited by Bloomberg, the proposed […]

International Trade Council explores India-Russia Rupee-Rouble payment scheme

May 31, 2022

Daisy

Mumbai, India – India is actively exploring the use of dedicated payment mechanisms for trade with Russia, including a potential Rupee-Rouble payment scheme, to enable existing trade obligations in the wake of sanctions imposed on the Kremlin. This move could also open up opportunities for Indian exporters to ramp up sales to Russia, according to […]

International Trade Council Celebrates Israel-UAE Free Trade Agreement

May 31, 2022

Daisy

The International Trade Council commends Israel and the United Arab Emirates (UAE) on signing a historic Free Trade Agreement (FTA) on Tuesday – the first of its kind between Israel and an Arab country. This milestone comes after the UAE agreed to normalize relations with Israel in 2020 as part of the U.S.-brokered Abraham Accords, […]

International Trade Council Commends UK’s First Trade Agreement with Indiana

May 27, 2022

Daisy

London, UK – The International Trade Council has lauded the UK’s first trade agreement with an individual US state, Indiana, as a significant move towards post-Brexit progress. The Memorandum of Understanding (MoU) seeks to enhance the £1.1bn ($1.4bn) worth of goods that Indiana already purchases from the UK. The agreement was signed by UK Trade […]

Biden Pledges $150M to ASEAN to Strengthen Regional Cooperation

May 13, 2022

Daisy

The International Trade Council reports that US President Joe Biden has committed to investing $150 million in Southeast Asia, supporting infrastructure, security, and anti-pandemic efforts. This announcement comes during the two-day summit held in Washington between the US and the 10-nation Association of Southeast Asian Nations (ASEAN). The goal is to counterbalance China’s increasing influence […]

The ITC’s Global Economic Impact Forum on Ukraine to be Held in Istanbul, July 21-22, 2022

May 11, 2022

Daisy

Istanbul, Turkey – The Global Economic Impact Forum on Ukraine (TGEIF) will be held on July 21-22, 2022, in Istanbul. This invitation-only event will bring together high-level political, public sector, and business leaders from Fortune 500 companies from across the globe to look at rebuilding Ukraine, discuss investment and trade opportunities, and address the challenges […]

US Trade Deficit Reaches Record High Amid Surge in Goods Imports

May 4, 2022

Daisy

The International Trade Council announces that the US trade deficit has widened to an all-time high in March, as companies relied on foreign producers to meet strong domestic demand. According to the Commerce Department, the gap in goods and services trade grew by 22.3% to $109.8 billion.   The widening of the trade deficit during […]

Pakistan Seeks Extension of IMF Programme and Increased Funding

April 26, 2022

Daisy

Islamabad, Pakistan – The Pakistani Finance Minister, Miftah Ismail, has announced that Pakistan is seeking an increase in the size and duration of its $6bn International Monetary Fund (IMF) programme. Following discussions with the IMF in Washington, Ismail requested that the fund extend the programme for another year and enhance the funding available to Pakistan […]

China Cuts Tariffs for New Zealand Wood and Paper: International Trade Council Acknowledges Positive Development

April 7, 2022

Daisy

The International Trade Council acknowledges the recent announcement by China’s Ministry of Finance to cut tariffs on wood and paper from New Zealand. The decision is expected to boost trade and investment between the two countries and foster economic growth. China will eliminate tariffs on 12 wood and paper products imported from New Zealand from […]

Australia and India Forge Closer Trade Ties with Economic Cooperation and Trade Agreement

April 2, 2022

Daisy

The International Trade Council welcomes the recent signing of the Australia-India Economic Cooperation and Trade Agreement, which signals an intention by the two nations to forge closer trade ties.   The virtual ceremony took place on April 2, with Australia’s Prime Minister, Scott Morrison, and his Indian counterpart, Narendra Modi, witnessing the event.   According […]

International Trade Council Announces Israel-UAE Free Trade Agreement

April 1, 2022

Daisy

The International Trade Council is pleased to announce the conclusion of negotiations between Israel and the United Arab Emirates for a free trade agreement. The deal, which was reached after four rounds of negotiations, including a meeting in Egypt last month between Israeli Prime Minister Naftali Bennett and the UAE’s de facto leader, Abu Dhabi […]

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