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

September 18, 2023

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 […]

UK Manufacturing Sector Faces Recruitment and Growth Challenges

September 17, 2023

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 […]

Central European Nations Announce New Regulations on Ukrainian Grain Imports

September 16, 2023

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, […]

WTO Cautions Against Global Trade Splitting Into Allied Blocs

September 16, 2023

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 […]

ECB Raises Interest Rates Amid Concerns of Economic Slowdown

September 16, 2023

GenevaÂ â€” The European Central Bank (ECB) has surprised markets by announcing its 10th consecutive interest rate increase, signaling its commitment to addressing persistently high inflation and its concerns about a potential economic slowdown. While some analysts expected a pause in the rate-hiking campaign, the ECB’s decision underscores the central bank’s determination to combat inflationary pressures. […]

Cambodia’s Trade Value Registers Nearly $32 Billion in First Eight Months of 2023

September 15, 2023

Cambodian Trade Experiences a 14.5% Decline Compared to Last Year Despite Minor Gains in Exports The International Trade Council reports that Cambodia’s total trade volume for the first eight months of 2023 stands at nearly $32 billion, showing a 14.5% drop compared to the same timeframe last year. This decline comes despite a modest […]

GCC and UK Aim to Strengthen Trade Ties at High-Level Meeting in Oman

September 15, 2023

United Kingdom and Gulf Cooperation Council (GCC) representatives convened at a top ministerial meeting in Salalah, Oman, to discuss bolstering their trade relationship and paving the way for a comprehensive free trade agreement. This development has the potential to offer British firms expanded access to burgeoning Gulf markets, while also opening doors for GCC nations […]

New Comprehensive Guide on Foreign Direct Investment Unveiled: “Going Abroad: FDI for Businesses Looking to Expand Internationally”

September 14, 2023

London, United KingdomÂ â€“ September 14, 2023 â€“ Today marks the official release of the much-anticipated book, “Going Abroad: Foreign Direct Investment for Businesses Looking to Expand Internationally.” Authored by James S. York, the CEO of the International Centre for Trade Transparency, the book serves as an essential guide for businesses planning to engage in foreign […]

France and Germany Unite to Enhance Industrial Transformation and Support EU Probe into Chinese EVs

September 14, 2023

GenevaÂ â€” In a resolute display of unity, France and Germany have reaffirmed their commitment to bolstering cooperation on industrial transformation and defending the European Union (EU) against unlawful trade practices. In response to the EU Commission’s announcement of an investigation into Chinese state support for electric vehicles (EVs), the Economy Ministers of both countries, Robert […]

Former UK PM Gordon Brown Advocates for a New Era of International Cooperation and Multilateralism

September 14, 2023

GenevaÂ â€” In a compelling address at the WTO Public Forum, former British Prime Minister Gordon Brown called for a transformative era of international cooperation and renewed commitment to multilateralism. The event, attended by a diverse audience, including WTO ambassadors, Swiss authorities, leaders of intergovernmental organizations, representatives of non-governmental organizations, business leaders, and academics, was launched […]

Hungary, in Coordination with Neighboring Countries, Signals National Ban on Ukrainian Grain Imports Beyond September 15

September 14, 2023

In an effort to safeguard their markets, Hungary, in cooperation with neighboring countries Romania, Slovakia, and Bulgaria, has signaled its intent to impose a national ban on Ukrainian grain imports should the European Union (EU) fail to extend the existing ban set to expire on September 15, as announced by Hungary’s Farm Minister. The […]

Istanbul Hosts 12th Meeting of OTS Ministers of Economy and Trade, Uniting Turkic Nations for Economic Cooperation

September 14, 2023

Istanbul, Turkey, is currently the epicenter of strategic discussions and economic collaboration as it hosts the 12th meeting of the Ministers in Charge of Economy and Trade of the Organization of Turkic States (OTS). This significant gathering brings together leaders, policymakers, experts, and officials from Turkic nations to deliberate on crucial economic matters. The […]

TÃ¼rkiye and the United Kingdom Cement “Indispensable” Partnership, Paving the Way for Bilateral Prosperity

September 14, 2023

The International Trade Council applauds the deepening partnership between TÃ¼rkiye and the United Kingdom, as underscored by British Foreign Secretary James Cleverly during his recent visit to Ankara. The Council acknowledges the pivotal role that this strengthening alliance plays in fostering international cooperation and enhancing global security. In a meeting with Foreign Minister Hakan […]

Ethiopia’s National Bank Introduces Offshore Accounts to Encourage Strategic Foreign Direct Investments

September 14, 2023

The National Bank of Ethiopia (NBE) has taken a significant step to boost foreign direct investment (FDI) by permitting the establishment of offshore accounts. This new directive aims to facilitate easier fund deposits from both equity and loan financing for approved projects and attract foreign currency into the Ethiopian economy. Scope of the New Directive […]

Saudi and Omani Firms Collaborate to Advance 3D Printing in Real Estate

September 13, 2023

RiyadhÂ â€” Saudi research and development firm, Forming Future Co., has embarked on a strategic partnership with two subsidiaries of Oman’s ITHCA Group to promote the utilization of 3D printing technology within the real estate sector. The collaborative agreements involve InnoTech and Codeline, both entities operating under the umbrella of ITHCA Group, previously known as […]

Sri Lanka to Promote Free Trade as Head of IORA, Says Foreign Minister

September 13, 2023

Sri Lanka is poised to advance the cause of free trade among member nations of the Indian Ocean Rim Association (IORA) as it assumes the chairmanship of the organization, according to Foreign Minister Ali Sabry. The South Asian nation is set to take over the chairmanship for the 2023-25 term next month, with the group’s […]

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