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Philippines and Korea Set to Deepen Ties Following Free Trade Agreement

January 13, 2024

Daisy

News, Philippines, Trade Agreements

0

In a forward-looking approach, the Philippines is actively pursuing a strategic partnership with Korea this year, building on the historic Philippines-Korea Free Trade Agreement (FTA) signed last year. With the 75th anniversary of diplomatic relations approaching, both nations are keen on elevating collaboration in various sectors, according to the Philippine Ambassador to Korea, Maria Theresa […]

China’s Citrus Sector Flourishes, Navigating Global Competition with Robust Domestic Growth

January 12, 2024

Daisy

Agricultural Trade, China, News

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China’s domestic citrus production is on an upward trajectory, fueled by favorable weather conditions and successful replanting efforts that have addressed previous challenges such as citrus greening disease. According to a recent USDA report, the country’s citrus sector is poised for continued growth in the 2023/24 period (12 months to October 31, 2024).   The […]

China Breaks Records with Crude Oil Imports in 2023

January 12, 2024

Daisy

China, International Trade, News

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China’s annual imports of crude oil reached an unprecedented high in 2023, marking a significant recovery in fuel demand from the post-pandemic decline. According to data from the General Administration of Customs (GACC), China imported 563.99 million metric tonnes of oil last year, equivalent to an average of 11.28 million barrels per day, representing an […]

Romania Solidifies Position as Ukraine’s Primary Alternative Export Gateway for Grains

January 11, 2024

Daisy

International Trade, News, Ukrain

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In a testament to the enduring collaboration between Ukraine and Romania, the former’s largest alternative export route for grains and goods is set to remain the Black Sea port of Constanta, according to a senior U.S. State Department official. Despite challenges posed by Russia’s invasion in February 2022, Ukraine has successfully utilized Romania’s port after […]

World Bank’s IFC Channels Nearly $1 Billion to Boost Ukraine’s Private Sector Amid Challenges

January 11, 2024

Daisy

International Development, News, Ukrain

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In a significant move to fortify Ukraine’s private sector, the International Finance Corporation (IFC), the private investment arm of the World Bank, has successfully mobilized nearly $1 billion. This funding aims to contribute to the reconstruction of Ukraine’s economic landscape, with a particular emphasis on the private sector. Makhtar Diop, the Managing Director of the […]

India Paves the Way for Mobile Tech Triumph: Proposes Import Duty Cuts to Boost Global Competitiveness

January 11, 2024

Daisy

India, News, Technology

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In a move aimed at fostering its position in the global mobile phone market, India is reportedly contemplating import duty cuts on critical components essential for the production of high-end smartphones. Government officials have revealed that the potential duty reductions, if implemented, could provide a significant boost to companies like Apple and contribute to the […]

Japan Achieves Record Current Account Surplus for Second Consecutive Month

January 11, 2024

Daisy

Japan, News

0

In a remarkable economic feat, Japan has reported a second consecutive month of record current account surpluses, showcasing its resilience in the face of global economic challenges. The November data revealed a surplus of 1.93 trillion yen ($13.31 billion), marking a historic high for the month and underscoring Japan’s economic prowess.   The positive development […]

Indonesia and Vietnam Forge Closer Ties with Emphasis on South China Sea Security and Electric Vehicles

January 11, 2024

Daisy

Indonesia, International Relations, News, Vietnam

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In a display of strengthened diplomatic and economic bonds, Indonesia’s President Joko Widodo, commonly known as Jokowi, visited Hanoi and engaged in talks with Vietnamese President Vo Van Thuong. The leaders emphasized key aspects of cooperation, including security concerns in the South China Sea and corporate investments in Indonesia, particularly in the electric vehicle (EV) […]

Taiwan’s December Exports Surpass Expectations, Led by Strong Demand from the US

January 11, 2024

Daisy

News, Taiwan, Technology, United States

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Taiwan experienced a notable surge in exports in December, outperforming expectations primarily due to increased demand for high-tech products from the United States. The finance ministry reported a substantial 11.8% year-on-year growth, reaching $39.94 billion. This exceeded the 4.9% growth forecast in a Reuters poll and marked a significant improvement from the 3.8% gain observed […]

U.S. Treasury Secretary Yellen Assures Support for Egypt Amidst IMF Loan Discussions

January 11, 2024

Daisy

Economic Development, Egypt, News, United States

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In a meeting with Egyptian authorities in Washington, U.S. Treasury Secretary Janet Yellen has reaffirmed the United States’ commitment to supporting Egypt’s economic reforms. The discussions, which took place on Tuesday, coincided with talks about expanding Egypt’s existing $3 billion loan program with the International Monetary Fund (IMF).   The Egyptian delegation, comprising the finance […]

Malaysia and Singapore Forge Groundbreaking Partnership to Develop Special Economic Zone, Boosting International Trade Growth

January 11, 2024

Daisy

International Trade, Malaysia, News, Singapore

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In a groundbreaking collaboration, Malaysia and Singapore have officially come together to embark on the joint development of a Special Economic Zone (SEZ) situated in the southern Malaysian state of Johor. This strategic partnership, announced on Thursday, is geared towards fostering increased investments and facilitating the seamless movement of goods and people between these two […]

Brazil’s Lula and Japan’s Kishida Explore Potential Mercosur Trade Accord

January 10, 2024

Daisy

Brazil, International Trade, Japan, News

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In a recent development, Brazil’s President Luiz Inacio Lula da Silva engaged in discussions with Japanese Prime Minister Fumio Kishida, exploring the prospects of a trade agreement between Japan and the South American bloc Mercosur, as reported by the Brazilian government.   During a phone conversation, Lula and Kishida delved into the reinforcement of trade […]

Global Surge in Demand for Energy-Related Critical Minerals Spurs Trade Challenges

January 10, 2024

Daisy

News, Sustainability

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In recent years, the escalating demand for critical minerals like cobalt, copper, lithium, nickel, and rare earths, essential for clean energy technologies, has given rise to significant challenges in global supply chains. These minerals play a pivotal role in producing clean energy goods, from electric cars to wind turbines. The annual trade in energy-related critical […]

Romanian Port Achieves Record Grain Exports Boosted by Ukrainian Shipments

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 […]

Vietnam’s Ministry of Industry and Trade Unveils Strategies to Boost Exports to European and American Markets

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, […]

Renowned Scholar Cheong In-kyo Appointed as South Korea’s New Trade Minister

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.   […]

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