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Japan and South Korea Re-establish Finance Dialogue Amid Geopolitical Challenges

May 1, 2023

The International Trade Council is pleased to announce the re-establishment of finance dialogue between Japan and South Korea, as the two countries held their first finance leaders’ meeting in seven years on May 2, 2023. The renewed commitment to regular dialogue is a crucial step towards enhanced cooperation and coordination in the region. Japanese […]

International Trade Council Condemns China Exit Bans

April 21, 2023

The International Trade Council (ITC) expresses deep concern over the increasing use of exit bans by Chinese authorities, impacting both Chinese nationals and foreigners attempting to leave the country. Recent reports and research highlight a surge in cases involving exit bans, sending a troubling message amidst China’s claims of openness for business. The ITC […]

International Trade Council Launches New Website

April 20, 2023

April 20, 2023 – The International Trade Council (ITC) is proud to announce the launch of its newly redesigned website (www.tradecouncil.org), a comprehensive online resource for businesses, governments, and organizations involved in global trade. The new website offers a modern, user-friendly interface and is designed to provide up-to-date news, reports, and valuable insights on international […]

India’s Free Trade Agreements (FTAs) Restrictive Rules of Origin (2021) – Textile Sector Impacts

April 19, 2023

India’s Free Trade Agreements (FTAs) Restrictive Rules of Origin (2021) – Textile Sector Impacts

India’s textile industry has long navigated a complex web of trade agreements, preferential tariffs, and shifting global demand. With the 2021 revisions to Rules of Origin (ROO) under its FTAs—particularly the agreements with the UK and the UAE—the complexity has deepened. The shift to stricter yarn-forward rules, while not unexpected, has caused significant recalibration among […]

Hungary Implements Temporary Import Ban on Select Ukrainian Agricultural Products

April 19, 2023

The International Trade Council wishes to inform its members and relevant stakeholders that Hungary has implemented a temporary ban on imports of honey, certain meat products, and grains from Ukraine, effective immediately until June 30, 2023. This decision follows the European Commission’s announcement of emergency preventive measures for wheat, maize, sunflower seeds, and rapeseed imports […]

China Reports Growth in March Industrial Output and Retail Sales, Signaling Post-COVID Economic Recovery

April 18, 2023

The International Trade Council is pleased to announce that China’s industrial output and retail sales have shown significant growth in March 2023, signaling a steady economic recovery following the easing of COVID-19 restrictions. Official data released on Tuesday reveals that China’s industrial output rose by 3.9% year-on-year in March, accelerating from a 2.4% increase in […]

International Trade Council Responds to Cyprus’ Commitment to Uphold EU Sanctions on Russia

April 18, 2023

The International Trade Council (ITC) commends the government of Cyprus for its firm commitment to upholding European Union (EU) sanctions on Russia. In light of recent blacklisting of Cypriot nationals by the US and UK for alleged involvement in sanctions-busting activities, the government of Cyprus has vowed to take decisive action against any deviation from […]

US Color Additive Labeling Act (2021) – Food Supply Chain Transparency

April 5, 2023

US Color Additive Labeling Act (2021) – Food Supply Chain Transparency

Since the passage of the Color Additive Labeling Act amendments in 2021, the processed food industry in the United States has found itself adjusting to a regulatory landscape that is, at once, both familiar and markedly more demanding. The core objective of the revised act—requiring explicit labeling of certain artificial colors known to trigger allergic […]

Timor-Leste’s Single Window System Looks to Accelerate International Trade

April 3, 2023

The International Trade Council (ITC) acknowledges the European Union’s (EU) 11th package of sanctions against Russia announced last week by European Commission President, Ursula von der Leyen. The latest sanction package aims to prevent Russia from importing high-tech components for the ongoing conflict in Ukraine from neighbouring countries. Central Asian nations, such as Uzbekistan […]

International Trade Council Announces UK’s Joining of CPTPP, Boosting Trade with Asia and Pacific Nations

March 31, 2023

The International Trade Council is pleased to announce that the United Kingdom has signed a deal to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a trade pact that includes 11 Asia and Pacific nations. This development comes three years after the UK officially left the European Union. Joining the CPTPP will […]

UK Joins CPTPP Trade Bloc, Expanding Economic Opportunities in the Asia-Pacific Region

March 31, 2023

The International Trade Council is pleased to announce that the United Kingdom has successfully joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). After 21 months of negotiations, the UK has become the first non-founding member of the 11-nation trade bloc, which includes Japan, Australia, Canada, Mexico, Vietnam, and Malaysia. This significant achievement expands […]

Growth in ‘Green Goods’ Amid Global Trade Slowdown

March 28, 2023

The International Trade Council (ITC) acknowledges the recent findings from UNCTAD’s Global Trade Update, which highlight a slowdown in global trade in 2022. However, the report also brings attention to a silver lining in the form of ‘green goods,’ which showed significant growth, defying the overall downward trend. Global trade hit a record $32 […]

International Trade Council Announces ChinaÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬ÃƒÂ¢Ã¢â‚¬Å¾Ã‚Â¢s Lifting of Brazilian Beef Import Ban Ahead of LulaÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬ÃƒÂ¢Ã¢â‚¬Å¾Ã‚Â¢s Visit

March 24, 2023

The International Trade Council welcomes China’s agreement to immediately resume imports of Brazilian beef, which were halted voluntarily by Brazilian authorities on February 23, following the discovery of an atypical case of mad cow disease. This decision comes days ahead of Brazilian President Luiz Inacio Lula da Silva’s visit to China to expand trade relations […]

EU CAP Strategic Plans (2023–2027) – Agricultural Supply Chain Reporting

March 22, 2023

EU CAP Strategic Plans (2023–2027) – Agricultural Supply Chain Reporting

With the new Common Agricultural Policy (CAP) strategic plans now in force since January 2023, the European Union has taken a definitive step toward making agricultural supply chains more transparent. The strategic plans for 2023–2027 introduce a layered set of obligations for member states, particularly around reporting data on farm inputs. The intention is clear […]

ITC Acknowledges Sri Lanka’s $3bn IMF Bailout as a Step towards Economic Stability

March 20, 2023

The International Trade Council (ITC) recognizes the recent $3bn ( Ã‚Â£2.4bn) bailout provided to Sri Lanka by the International Monetary Fund (IMF) as a crucial lifeline for the country amidst its severe economic crisis. Sri Lanka’s struggling economy, compounded by the impact of the pandemic, rising energy prices, populist tax cuts, and high inflation, […]

US National Defense Authorization Act (2021) – Rare Earth Element Supply Chain Security

March 8, 2023

US National Defense Authorization Act (2021) – Rare Earth Element Supply Chain Security

Since the passage of the National Defense Authorization Act (NDAA) in January 2021, there has been heightened attention to the vulnerabilities in the rare earth element (REE) supply chains. Section 817, in particular, represents one of the more decisive policy moves aimed at fortifying the United States’ position in securing these critical inputs. The provision […]

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Important Disclaimer: The International Trade Council is not affiliated in any way with the International Trade Centre. The International Trade Centre is a joint subsidiary organ of the United Nations (acting through UNCTAD) and the World Trade Organization. The International Trade Council is an independent peak-body chamber of commerce acting on behalf of its member businesses and governments. If you are looking for the International Trade Centre, please visit www.intracen.org.