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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

Riyadh Ã‚Â ÃƒÂ¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚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 […]

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 […]

Thai-EU FTA Negotiations Commence with Two-Year Timeline

September 13, 2023

Negotiations for a free-trade agreement (FTA) between Thailand and the European Union (EU), commonly referred to as the Thai-EU FTA, are set to commence next week with the aim of finalizing the agreement within a two-year timeframe. The Department of Trade Negotiations, operating under the Thai Commerce Ministry, will oversee these negotiations. Auramon Supthaweethum, […]

International Trade Council Welcomes U.S.-Bahrain Comprehensive Security Integration and Prosperity Agreement

September 13, 2023

The International Trade Council is pleased to announce the signing of the Comprehensive Security Integration and Prosperity Agreement (C-SIPA) between the United States and Bahrain, ushering in a new era of cooperation and partnership across various domains, including defense, security, science, technology, trade, and investment. The historic agreement was formalized during a ceremony at […]

Decline in Overseas Investment in Israel for Q1 2023

September 13, 2023

Israel’s Ministry of Finance has disclosed a substantial 60% decrease in overseas investment during the first quarter of 2023, amounting to approximately $2.6 billion. When juxtaposed with the average quarterly investment figures from 2020 and 2022, this drop signifies a marked contraction, consisting primarily of reduced international transactions and a diminished presence of foreign investors. […]

International Trade Council Emphasizes Greater International Trade for Global Stability

September 12, 2023

Geneva, Switzerland Ã‚Â ÃƒÂ¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬” The World Trade Organization’s (WTO) annual Public Forum, which commenced on September 12, kicked off with the launch of the annual World Trade Report. The WTO’s Chief Economist, Ralph Ossa, addressed a gathering of delegates and highlighted key points from the report, advocating for an increased focus on international trade as a […]

Israeli Foreign Minister Holds Talks with British Counterpart to Strengthen Bilateral Ties

September 12, 2023

In a proactive diplomatic move aimed at enhancing the relationship between Israel and the United Kingdom, Foreign Minister Eli Cohen met with his British counterpart, James Cleverly, in Jerusalem on Monday. This diplomatic engagement serves as a testament to the commitment of both nations to foster cooperation and expand areas of mutual interest. During the […]

Canada Affirms Commitment to Deepen Trade Ties with Taiwan, Pursuing FIPA Agreement

September 12, 2023

The International Trade Council acknowledges Canada’s unwavering commitment to strengthening trade relations with Taiwan, as expressed by Ed Jager, Director of Trade and Investment at the Taipei Canadian Trade Office. Mr. Jager’s remarks underscore Canada’s dedication to fostering economic collaboration and enhancing trade ties with Taiwan, reinforcing the belief that partnership and cooperation are vital […]

Cross River State in Nigeria Attracts $1 Billion in Foreign Direct Investment

September 12, 2023

Cross River State in Nigeria has secured $1 billion in Foreign Direct Investment (FDI), as announced by State Governor, Senator Bassey Otu. The investment follows the recently concluded International Cooperation and Investment Summit hosted by the state. Investment Details and Impact on Employment In a media briefing marking his first 100 days in office, Governor […]

International Trade Council Reports on UAE’s Unprecedented Relaxation of Foreign Direct Investment Restrictions

September 12, 2023

In a noteworthy development that holds significance for foreign direct investment (FDI) in the Middle East and North Africa region, the United Arab Emirates (UAE) has executed a series of legislative changes designed to foster a more open investment environment. A UNCTAD report released in July 2023 indicates that the UAE now ranks among the […]

Indonesian Authorities Lift Restrictions on Live Cattle and Buffalo Exports from Australia

September 11, 2023

The Department of Agriculture, Fisheries and Forestry (DAFF) has announced a successful agreement with the Indonesian Agriculture and Quarantine Agency (IAQA). Effective immediately, the suspensions and restrictions on live cattle and buffalo exports from seven registered establishments across northern Australia have been lifted. This decision follows a week of technical discussions with Indonesian authorities, […]

International Trade Council Applauds Expansion of G20 with African Union as Permanent Member

September 11, 2023

The International Trade Council extends its congratulations to the G20 leaders and Indian Prime Minister Narendra Modi for the historic inclusion of the African Union as a permanent member of the G20. The landmark announcement came during the G20 Summit held in New Delhi, India, on September 9, 2023. The G20, formerly a coalition […]

South Korea Advances International Agreements in Minerals and Electric Vehicles, Fueling EV Battery Manufacturing Ambitions

September 11, 2023

The International Trade Council commends South Korea for its proactive engagement in international talks and the signing of multiple agreements related to minerals and electric vehicles (EVs). These agreements align with South Korea’s ambitious goals for EV battery manufacturing and underscore the nation’s commitment to pursuing strategic initiatives despite challenges in its manufacturing sector. […]

India and Saudi Arabia Accelerate Free Trade Agreement Talks to Boost Economic Cooperation

September 11, 2023

In a significant development aimed at strengthening economic cooperation between the two nations, India and Saudi Arabia have pledged to fast-track negotiations on the India-Gulf Cooperation Council (GCC) Free Trade Agreement (FTA). During a special briefing on the State Visit of the Crown Prince and Prime Minister of Saudi Arabia, Prince Mohammed bin Salman […]

United States Leads as the Primary Source of Foreign Direct Investment in India for Fiscal Year 2023, Reveals RBI Census

September 11, 2023

The International Trade Council acknowledges the recent data released by the Reserve Bank of India (RBI), stating that the United States has been identified as the foremost contributor of foreign direct investment (FDI) into India for the financial year 2023 (FY23). According to the RBI census, the United States accounted for Rs 8.58 lakh crore […]

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