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February 15, 2024

Daisy

Global Trade, News, United States

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In a promising development, U.S. import prices have experienced a notable increase in January, reflecting positive momentum in the economy. The surge, driven primarily by higher costs for petroleum and various goods, suggests resilience in the market despite challenges.   Recent data released by the Labor Department’s Bureau of Labor Statistics reveals that import prices […]

February 14, 2024

Daisy

Economic Policy, News, South Korea

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In a bid to bolster key sectors and alleviate challenges faced by small businesses amidst high interest rates, South Korea has introduced a substantial financial support program totaling 75.9 trillion won ($56.97 billion).   The initiative encompasses various measures, including 15 trillion won in affordable policy loans from a state-run bank designated for pivotal industries […]

U.S. Trade Representative Katherine Tai has outlined a pragmatic approach to the upcoming World Trade Organization (WTO) Ministerial Conference in Abu Dhabi. With a focus on incremental yet meaningful reform, Tai aims to sustain the momentum for change within the trade body.   In anticipation of the conference from February 26 to 29, Tai emphasized […]

February 14, 2024

Daisy

International Trade, News

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Addressing the WTO’s General Council on February 14th, Director-General Ngozi Okonjo-Iweala expressed confidence in the prospects of securing outcomes for the upcoming 13th Ministerial Conference (MC13) in Abu Dhabi. Despite acknowledging the challenges faced by members, she emphasized determination to achieve success. “We are going to get it done,” she affirmed.   While Dr. Okonjo-Iweala […]

February 14, 2024

Daisy

Germany, International Trade, News

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Germany’s commitment to green hydrogen receives a significant boost as the Federal Ministry for Economic Affairs and Climate Action (BMWK) earmarks €3.53 billion for the H2Global Foundation’s hydrogen importing program. This allocation is poised to fuel future auctions for renewable hydrogen and its derivatives.   H2Global, a subsidiary of BMWK, has announced the receipt of […]

February 14, 2024

Daisy

Europe, International Trade, News, Ukrain

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Ukraine’s agricultural exports have emerged as a vital component of its economic relationship with the European Union, with recent developments showcasing resilience amidst challenges. Despite concerns voiced by neighboring EU countries such as Bulgaria, Hungary, Poland, Romania, and Slovakia regarding market disruptions, Ukraine’s trade representative reassured stakeholders of minimal negative impact.   Deputy Economy Minister […]

February 14, 2024

Daisy

Cambodia, International Trade, News

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According to an official report released on Monday, Cambodia’s foreign trade volume witnessed a significant increase, reaching $4.05 billion in January 2024, marking a notable uptick of 16.7% compared to the same period last year.   The report from the General Department of Customs and Excise highlights that Cambodia’s total exports in January amounted to […]

In a landmark development, India and the United Arab Emirates (UAE) have solidified their commitment to a transformative trade corridor that promises to connect Europe with India via strategic routes across the Middle East, leveraging both sea and rail networks. The accord, unveiled during Prime Minister Narendra Modi’s official visit to the Gulf nation, underscores […]

February 13, 2024

Daisy

International Trade, Kazakhstan, News

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Kazakhstan has made significant advancements in exporting its government technology (GovTech) solutions, as highlighted during the Digital Almaty 2024 forum held from Feb. 1-3, according to a report from Profit.kz on Feb. 13. The country signed several memorandums of understanding to extend its IT solutions for e-government development to various nations, with a particular focus […]

February 12, 2024

Daisy

Europe, Indonesia, International Trade, News

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In a bid to address concerns over the European Union’s imposition of definitive anti-dumping duties on fatty acid imports from Indonesia, the Southeast Asian nation has taken a significant step by initiating WTO dispute consultations with the EU. The request for consultations, formally circulated to WTO members on February 12th, signals Indonesia’s commitment to upholding […]

February 12, 2024

Daisy

International Trade, News

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Norway has pledged its support to bolster sustainable economic growth in least developed countries (LDCs) by contributing NOK 20 million to the Enhanced Integrated Framework (EIF). This initial contribution of CHF 1.2 million marks the commencement of Norway’s commitment to the newly established EIF Interim Facility, designed to sustain the progress achieved by LDCs with […]

February 12, 2024

Daisy

Energy Trade, Europe, News

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Efforts to fortify energy security in southeastern and central Europe are gaining momentum with the launch of a collaborative project aimed at establishing a novel gas transit route. Dubbed the “Vertical Corridor,” this initiative seeks to mitigate the impact of disruptions in gas supply by providing alternative pathways for gas transportation.   The proposed corridor […]

Recent reports reveal an encouraging trend in UK-Philippines bilateral trade, with total trade in goods and services hitting a record high of £3.0 billion. Chris Nelson, the Executive Director/Trustee of the British Chamber of Commerce Philippines (BCCP), expressed optimism regarding the ongoing positive trajectory of trade between the two nations.   In a recent interview, […]

February 12, 2024

Daisy

International Trade, News, South Korea

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South Korea has once again secured its position among the world’s top 10 defense exporters, with exports totaling approximately $14 billion in 2023. This marks the second consecutive year that South Korea has achieved this milestone, showcasing its growing influence in the global defense market. Anticipating continued demand, bolstered by substantial deals already in place, […]