India’s imports from China reach record high in 2022, trade deficit surges beyond $100 billion

India’s bilateral trade with China reached a record $135.98 billion in 2022, Chinese Customs data showed on January 13, 2023, driven by surging Indian imports of Chinese goods that were up by more than 21% last year. India’s exports to China, however, fell in 2022, driving an already significant trade deficit beyond the $100 billion-mark for the first time. Source : thehindu.com/ For more Details

Myanmar’s foreign trade up 18.47 per cent in nearly 10 months

YANGON, Jan 29 (Xinhua): Myanmar’s total goods imports and exports surged 18.47 per cent year on year to over US$27.19 billion in nearly 10 months of the 2022-23 fiscal year beginning in April last year, official data has showed. From April 1 last year to Jan. 20 this year, exports rose 14.25 per cent to over US$13.36 billion from a year earlier, while imports climbed 22.85 percent to over US$13.82 billion, data from the country’s Ministry of Commerce showed. During Read Full Details…

In U.S. actions, the worry of global trade lawlessness

In a significant development in international trade law, four separate World Trade Organization (WTO) Panel reports have ruled that the tariffs of 25% and 10% on steel and aluminium, respectively, that the United States (U.S.) had imposed during the presidency of Donald Trump are inconsistent with WTO law. The cases were brought by China, Norway, Switzerland, and Turkey. The WTO panellists held that these tariff rates breached the U.S.’s obligations under Article II.1 of the General Agreement on Tariffs and Read Full Details…

Mexico keen to expand trade with Bangladesh

Latin American country Mexico wants to expand trade relations with Bangladesh as both the countries have great potential in the automobile, pharmaceutical, chemical, and fintech sectors. Federico Salas Lotfe, ambassador of the Embassy of Mexico in New Delhi, India, made a courtesy call on Mostofa Azad Chowdhury Babu, senior vice president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Monday at Motijheel, Dhaka. During the meeting, the Mexican ambassador said, “Economic relations between Bangladesh and Mexico are Read Full Details…

MOFCOM Intends to Ban/Restrict Exports of 139 Technologies Involving Steel, Nonferrous Metals, Photovoltaics, Semiconductors

SHANGHAI, Jan 31 — On December 30, 2022, the Ministry of Commerce of the People’s Republic of China (MOFCOM) published on its official website the Notice for Public Comments on the Revised Catalogue of Technologies Prohibited and Restricted from being Exported in China. The deadline for comments and feedback is January 28, 2023. The revised Catalogue includes a total of 139 items, including 24 items of prohibited export technologies and 115 items of restricted export technologies. Many of them involve Read Full Details…