Month: January 2023

Jan 27

The impact of the African Continental Free Trade Area on the continent’s mining sector

As a top producer of numerous critical mineral commodities, Africa is set to benefit from the rapid increase in the rate of global energy transition, with the continent’s mining industry playing a role in sourcing and supplying these critical minerals for use in clean energy initiatives. Exporting these critical minerals as raw materials, however, reduces Africa’s trading position to one of price takers, and the current disruptions in global supply chains are hampering the trade of these commodities in Africa, Read Full Details…

Jan 27

Statistics International trade in goods by change of ownership and border crossing

The international trade in goods statistics describe the monthly development of imports and exports of goods. These figures provide insight into the Netherlands’ trade in goods with other countries. They are of great importance in determining gross domestic product (GDP). In addition, the figures provide insight into the Netherlands’ trade position vis-à-vis foreign countries. The figures describe which goods physically enter or leave the Netherlands and from which country the goods originate or what the destination of the goods is. Read Full Details…

Jan 27

UAE expects digital assets to ‘play a major role’ in international trade

The United Arab Emirates (UAE) has indicated an interest in exploring virtual currencies for international trading as it aims to reduce its dependency on the U.S. dollar. UAE’s Minister of State for Foreign Trade, Thani Al-Zeyoudi, told Bloomberg that the country would be pivoting to digital assets in 2023 after making significant headway in their regulation over the last few months. Al-Zeyoudi disclosed this at the recently concluded World Economic Forum (WEF) in Davos with policymakers and business leaders in Read Full Details…

Jan 27

Government updates on impact of upcoming strikes, ALVS downtime and minister’s Felixstowe visit

The Institute of Export & International Trade (IOE&IT), serving as a key interlocutor between government and industry, continually updates its members and the wider trade community about major developments affecting UK trade. These include updates from the government about upcoming civil service strikes, downtime on the Automatic Licence Verification System (ALVS) and a recent visit to a key port in Suffolk by the environment minister. The first two were communicated by HMRC to the Joint Customs Consultative Committee (JCCC), of Read Full Details…

Jan 27

9 more firms recognised as authorised economic operators

The revenue board announced the names in a programme on World Customs Day at a capital hotel, where 18 entities were also awarded International Customs Organisation’s certificates of merit The National Board of Revenue (NBR) has recognised nine more companies, including Fair Electronics and Omera Cylinders, as authorised economic operators – who enjoy some privileges at ports during export-import. Other firms are Shoeniverse Footwear, Jihan Footwear, ACI Godrej Agrovet, Towa Personal Protective Device Bangladesh, Cutting Edge Industries, MBM Garments and Read Full Details…

Jan 27

China EximBank raises credit support to foreign trade industry

The Export-Import Bank of China (China EximBank), which is a state-funded and state-owned policy bank supporting China’s foreign trade, had increased credit support for the foreign trade industry in 2022.Towards the end of 2022, China EximBank’s outstanding loans to the country’s foreign trade industry totalled 2.87 trillion yuan (around $423.92 billion), which was an increase of 470 billion yuan compared to the start of the year, according to local media reports. Outstanding loans in yuan and other currencies that were Read Full Details…

Jan 26

Poland and Hungary Are Testing the Limits of the EU’s Liberalism

Before their illiberal turn, Poland and Hungary were lauded as postcommunist poster children. Both nations have combined moderately redistributive welfare states with attacks on civil liberties — but inflation is putting their growth model to the test. Since 2010, Viktor Orbán, the prime minister of Hungary, has been at the head of an illiberal turn in the European Union. While Germany initiated a historical sea change — Olaf Scholtz’s famous “Zeitenwende” — and France abandoned its conciliatory approach toward Russia, Read Full Details…

Jan 26

UK links up with Thailand on digital trade

The UK’s Centre for Digital Trade and Innovation (C4DTI) has kicked off a new project to accelerate trade digitalisation in Thailand, as part of wider plans to strengthen and expand trade ties with Asia. Funded by the Foreign and Commonwealth Development Office, the project will see C4DTI and its legal reform taskforce partner, the Centre for Applied Sustainable Transition Law, provide technical assistance to Thailand’s Electronic Transaction Development Agency (ETDA) to support the removal of legal barriers and the alignment Read Full Details…

Jan 26

China offers Sri Lanka a 2-year debt moratorium

The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it would support the country’s efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters. Regional rivals China and India are the biggest bilateral lenders to Sri Lanka, a country of 22 million people that is facing its worst economic crisis in seven decades. India wrote to the IMF earlier this month, saying it Read Full Details…

Jan 25

Incredible Growth of Processed Fruits & Vegetables Market 2022 Scale

A recent report published by SMI , titled Processed Fruits & Vegetables Market Research Report 2022-2030 (by Product Type, End-User / Application, and Regions / Countries) provides an in-depth assessment of the Processed Fruits & Vegetables including key market trends, upcoming technologies, industry drivers, challenges, regulatory policies, key players company profiles, and strategies. Global Processed Fruits & Vegetables Market study with 100+ market data Tables, Pie Chat, Graphs & Figures is now released BY SMI. The report presents a complete Read Full Details…