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January 10, 2024

Daisy

Agricultural Trade, News, Ukrain

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In a notable surge, the Port of Constanta in Romania achieved record grain exports in 2023, reaching 36 million tonnes, marking a remarkable 50% increase compared to the previous year, according to the port authority. The Black Sea-based port experienced this substantial growth, with Ukrainian shipments playing a significant role, contributing nearly 40% to the […]

January 10, 2024

Daisy

International Trade, News, Vietnam

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The Ministry of Industry and Trade (MoIT) is gearing up to implement major initiatives aimed at boosting exports to the European and American markets in the upcoming year, as announced by Ta Hoang Linh, Director of the European-American Market Department under the MoIT.   To maximize advantages and address challenges in both exports and imports, […]

January 10, 2024

Daisy

News, South Korea, Trade Policy

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Cheong In-kyo, a distinguished scholar in global trade, has been appointed as Korea’s new trade minister, marking a significant development in the realm of international commerce. With a strong background in economic security and extensive experience in crucial free trade agreement negotiations, Cheong is poised to make a notable impact in his new role.   […]

January 9, 2024

Daisy

China, Geopolitics, News

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In a bid to strengthen economic partnerships, Maldivian President Mohamed Muizzu is fostering ties with China, marking a notable shift away from traditional ally India. The “Invest Maldives” forum held in Fuzhou, a key city on China’s maritime Silk Road, showcased the President’s commitment to bolstering bilateral relations.   President Muizzu, who assumed office in […]

January 9, 2024

Daisy

Global Trade, News

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In a significant milestone for global trade, members of the World Trade Organization (WTO) reached a consensus on January 9, 2024, regarding the terms of Comoros’ WTO membership. The agreement, achieved ad referendum, marks a crucial step toward the formal adoption of Comoros as the newest member of the organization. This achievement positions Comoros as […]

The United Kingdom and India remain committed to pursuing a comprehensive and ambitious Free Trade Agreement (FTA), as confirmed by an official statement. The two nations are gearing up for the 14th round of negotiations, scheduled to commence this week, with a focus on intricate matters concerning goods, services, and investment.   Several critical topics […]

In a recent development, the Department of Trade and Industry (DTI) has issued a reminder to local exporters of dairy products, urging them to familiarize themselves with Australia’s updated regulations to ensure compliance and sustained market access. According to the advisory, Australia revised its import regulations for dairy in November of the previous year. Notably, […]

January 8, 2024

Daisy

Agricultural Trade, China, News, Vietnam

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In a promising development for Vietnamese agriculture, the Department of Agriculture is actively working towards expanding the export of agricultural products, particularly fruits and vegetables, to the Chinese market. Several protocols have been signed between Vietnam and China, paving the way for increased official exports of various produce.   At the close of 2023, Vietnam […]

January 8, 2024

Daisy

Logistics, News, United States

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In a positive turn of events, U.S. container imports exhibited a nearly 10% increase in December compared to the same month the previous year, signaling a robust finish to 2023, according to the latest Global Shipping Report by Descartes Systems Group. The report indicated that import volumes continued to outpace pre-pandemic levels through the peak […]

January 8, 2024

Daisy

Economic Indicators, Germany, News

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In a surprising turn of events, Germany experienced a substantial surge in exports during November, outperforming expectations and offering a glimmer of hope for the country’s international trade sector. According to data released by the federal statistics office on Monday, German exports saw a notable increase of 3.7% compared to the previous month, significantly surpassing […]

January 8, 2024

Daisy

Economic Policy, India, News

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Indian Prime Minister Narendra Modi is gearing up to showcase his home state, Gujarat, as a prime investment destination during the Vibrant Gujarat Global Summit scheduled from Jan. 10-12. This high-profile event marks one of Modi’s final endeavors to attract both domestic and foreign investors before facing re-election. The summit is anticipated to host a […]

In a strategic move, the Department of Agriculture (DA) has announced its ambitious plans to enhance and diversify the export of agricultural products to Japan, aiming to capitalize on opportunities for growth in the Japanese market.   Agriculture Secretary Francisco Tiu Laurel, Jr. highlighted the intent to boost shipments of a variety of agricultural goods, […]

In a remarkable achievement, South Korea’s exports of the beloved Korean instant noodles, known as ramyeon, soared to an unprecedented high, hitting nearly $1 billion (1.31 trillion won) in 2023, as per government data and industry sources.   The Korea Customs Service reported a substantial annual increase, with ramyeon exports reaching $952 million last year, […]

January 5, 2024

Daisy

Automotive Industry, Brazil, News

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In a promising outlook for Brazil’s automotive sector, the local industry group ABVE announced on Friday that sales of fully electric and hybrid vehicles are poised to grow by a substantial 60% in 2024 compared to the previous year.   Representing key players in the electric automobile market, including Chinese giants BYD and Great Wall […]

In a significant development, the U.S. Department of Commerce proudly announced a remarkable milestone, surpassing $200 billion in client-verified foreign direct investment (FDI). This achievement, facilitated by the SelectUSA program within the International Trade Administration, signifies a substantial contribution to the U.S. economy, supporting over 200,000 jobs across the nation and its territories since the […]