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Rice Imports Surge 84.5% with Vietnam as Top Supplier

March 12, 2024

Daisy

News, Vietnam

0

The Philippines has experienced a significant increase in rice imports during the first two months of 2024, according to data from the Department of Agriculture’s Bureau of Plant Industry (BPI).   Rice imports for January and February totaled 728,254.49 metric tons (MT), representing an 84.57 percent surge compared to the same period last year when […]

Thailand Positioned for Growth Amid Semiconductor Production Shift

March 12, 2024

Daisy

Economic Development, News, Thailand

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In a recent statement, US Commerce Secretary Gina Raimondo emphasized Thailand’s potential to benefit significantly from the United States’ strategic move to diversify semiconductor production. Raimondo highlighted the readiness of American firms to amplify investments in the Southeast Asian nation, foreseeing promising prospects ahead.   The electrical and electronics industry stands as a pivotal sector […]

EU’s €137 Billion Boost Signals Economic Revival for Poland

March 12, 2024

Daisy

Economic Development, Europe, News, Poland

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In a significant development, Polish Prime Minister Donald Tusk has successfully secured funds worth up to €137 billion from the European Union, marking a pivotal moment for Poland’s economic trajectory. This infusion of funds signifies the end of years-long tensions with Brussels over democratic standards, heralding a new era of economic growth for Central Europe’s […]

Germany’s Support Crucial for PH-EU Free Trade Talks

March 12, 2024

Daisy

E-commerce Development, Europe, News, Philippines

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President Ferdinand ”Bongbong” Marcos Jr. highlighted the pivotal role of Germany’s support as negotiations for a free trade agreement between the Philippines and the European Union prepare to resume.   ”Germany’s support is vital to the country’s reapplication to the EU’s Generalised Scheme of Preferences Plus (GSP+) and for the resumption of negotiations for a […]

Japan Bolsters Long-Term LNG Supplies with Allies Australia and the U.S.

March 10, 2024

Daisy

Japan, News, Trade Agreements, United States

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In a bid to secure stable, long-term supplies of liquefied natural gas (LNG), resource-scarce Japan has deepened its partnerships with close allies Australia and the United States. This strategic move comes as key contracts from various providers are set to expire by the early 2030s. Last month, JERA, Japan’s leading power generator, finalized an agreement […]

Positive Developments in Chinese Trade Barriers on Australian Wine and Lobster

March 9, 2024

Daisy

News, Trade Relations

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In a promising update, Australian Trade Minister Don Farrell announced significant progress in addressing trade barriers imposed by China on Australian wine and lobster. Farrell expressed optimism as China nears completion of its review into tariffs on Australian wine, with expectations for a resolution by the end of March. Additionally, China is reassessing restrictions on […]

Historic Trade Pact Between India and EFTA Nations to Boost Global Commerce

March 9, 2024

Daisy

India, News, Trade Agreements

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In a landmark move set to reshape international trade dynamics, India is poised to finalize an economic pact with the European Free Trade Association (EFTA) on Sunday. This agreement, involving Switzerland, Norway, Iceland, and Liechtenstein, marks the culmination of nearly sixteen years of meticulous negotiations, promising to significantly enhance trade and investment flows.   With […]

ASEAN Advances Free Trade Agreement with Australia and New Zealand

March 8, 2024

Daisy

Australia, New Zealand, News, Trade Agreements

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In a significant step towards bolstering regional trade relations, the Philippines has signed the second protocol to the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA).   President Ferdinand Marcos Jr., in his address during the ASEAN-Australia Special Summit Leader’s Plenary Session, expressed confidence in the agreement’s potential to bolster the region’s economy and support micro, small, […]

Switzerland Sets Course for Renewed EU Relationship Talks

March 8, 2024

Daisy

Europe, News, Switzerland, Trade Relations

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In a pivotal decision on Friday, the Swiss government has green-lighted the initiation of discussions with the European Union, aiming to rejuvenate the nation’s ties with the bloc. This move comes as a significant step forward after the disintegration of a former agreement attempt in 2021. Switzerland’s strategy emphasizes the vital importance of unfettered access […]

China’s Export Surge Sets Positive Tone for 2024 Amid Global Economic Challenges

March 7, 2024

Daisy

China, Global Trade, News

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China kicks off the year 2024 on a high note as it reports a remarkable 7.1% increase in exports for the first two months, surpassing expectations and fueling optimistic forecasts despite lingering challenges in the global economy.   The surge in exports, reaching US$528 billion, has outpaced predictions, signaling resilience in China’s trade sector amidst […]

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