The first wave of reports under the EU’s Corporate Sustainability Reporting Directive (CSRD), submitted in June 2023, has drawn both praise and criticism in policy and financial circles. What’s striking-perhaps more than the content itself-is the diversity in the approaches large enterprises have taken, particularly in supply-chain disclosures. Some firms appear to have embraced the […]
In a significant development, Bolivia is poised to become a full-fledged member of the South American Mercosur trade bloc, following the approval of its admission by the Brazilian Senate on Tuesday. This crucial step towards bolstering regional trade ties is expected to be formally ratified during a regional summit scheduled for December 7 in Rio […]
New Zealand’s Foreign Minister, Winston Peters, expressed his country’s intent to strengthen its engagement with the United States regarding strategic, security, and economic challenges. Speaking at the United States Business Summit in Auckland, Peters outlined New Zealand’s commitment to fostering shared values, regional security, and economic growth. In his first address as foreign minister […]
In a landmark development for international trade, Vietnam and Japan have officially elevated their bilateral relations to a “comprehensive strategic partnership”. This significant advancement was formalized during Vietnamese President Vo Van Thuong’s visit to Tokyo, marking a key milestone in both countries’ diplomatic journeys. This enhanced partnership underscores Vietnam’s pivotal role in the global […]
In a recent meeting of the World Trade Organization’s Dispute Settlement Body (DSB) on November 27, an agreement was reached to form a dispute panel at the request of Indonesia. This panel will scrutinize the countervailing duties imposed by the European Union (EU) on biodiesel imports from Indonesia. Indonesia’s request marked the second time […]
The latest quarterly WTO Goods Trade Barometer, released on November 27, indicates a rebound in the volume of global merchandise trade following a recent decline. Key drivers of this recovery include increased automobile sales and production, as well as the trade in electronic components. However, while trade volumes are on the mend, mixed economic data […]
In an effort to ease tensions and enhance cooperation, China, Japan, and South Korea have agreed to restart diplomatic and economic exchanges and work toward organizing a summit. Despite China’s attempts to mend relations with the United States, Beijing is concerned about the strengthening partnership between Washington and its key regional allies. Previously, Beijing, […]
Somalia has officially become the eighth member of the East African Community (EAC) trade bloc, a development expected to have significant implications for the region’s economy and trade opportunities. The EAC, comprising countries such as Kenya, Tanzania, Uganda, and others, has welcomed Somalia into its common market, expanding its market size to nearly 300 million […]
In a landmark move to promote sustainable marine fisheries, the European Union has generously donated 1 million to the World Trade Organization’s Fisheries Funding Mechanism. This multi-year contribution, presented by Ambassador Jo Aguiar Machado to WTO Director-General Ngozi Okonjo-Iweala, is a significant step toward assisting developing and least-developed members in implementing the Agreement on Fisheries […]
An upcoming visit by Vietnamese President Vo Van Thuong to Japan is poised to mark a significant chapter in the bilateral relations between Vietnam and Japan. This visit, slated for next week, will be President Thuong’s inaugural official trip to Japan and aligns with the 50th anniversary celebrations of diplomatic ties between the two nations. […]
In a significant turn of events in the global oil market, OPEC+ is reportedly nearing a resolution with its African members over the oil output levels for 2024. This update follows earlier disagreements which led to the delay of a vital organizational meeting, as informed by sources within OPEC+ to Reuters. The focus is […]
In a landmark move, South Korean President Yoon Suk Yeol and British Prime Minister Rishi Sunak have signed the Downing Street Accord during President Yoon’s state visit to London. This agreement represents a significant step in strengthening bilateral cooperation in various sectors, notably in defense, security, and technology. The accord underlines both nations’ commitment […]
Latin America and the Caribbean have yet to fully tap into the potential of international trade, which is a crucial driver of growth for emerging market economies, according to a recent report by the International Trade Council. Despite some progress in trade openness, the region continues to face challenges such as inadequate infrastructure, cumbersome customs […]
In a strategic move to expand its international trade relations, Uruguay has elevated its ties with China, aligning its level of engagement with that of its fellow Mercosur members, Brazil and Argentina. This development signifies Uruguay’s ambition to explore beneficial deals beyond its regional trade bloc, while China continues to deepen its connections in South […]
In a significant move, the European Parliament has ratified a free trade agreement with New Zealand, marking the European Union’s first major trade deal endorsement since February 2020. This development, which saw a substantial majority voting in favor, is set to usher in a new era of EU-New Zealand trade relations, potentially boosting trade by […]