Day: March 1, 2023

Mar 01

WHAT YOU NEED TO KNOW ABOUT THE EU SINGLE MARKET

What is the EU? Defining the European Union and its role in global tradeThe European Union (EU) is an economic and political union between 27 European countries. Originally created in 1958 between six countries, the agreement has expanded over the decades and now includes 27 countries across the European continent. The EU’s free trade zone is based on a multilateral agreement that centers on the creation of an internal single market. This single market was established by the EU customs Read Full Details…

Mar 01

Rice export to enjoy favourable conditions in 2023

Hanoi (VNA) – Vietnam’s rice export this year is expected to benefit from many favourable conditions, including high global demand, to reach 7 million tonnes, according to the Cong Thuong (Industry & Trade) newspaper. The January report by the US Department of Agriculture forecast the global rice trade in 2023 will decrease about 4% from last year. Large rice exporters are predicted to witness declines, including Argentina, Brazil, Cambodia, China, the EU, India, Laos, Malaysia, Pakistan, Paraguay, Russia, Senegal, Tanzania, Read Full Details…

Mar 01

Travelex Launches Middle East Wholesale Banknote Business

Foreign exchange company Travelex has launched a wholesale banknote business in the Middle East. The new operation, announced Tuesday (Feb. 28), comes amid continued consumer demand for travel, which is in turn driving continued use of cash. According to a news release provided to PYMNTS, Travelex has already “onboarded a wide range of retail bank and non-bank customers across the region,” with plans to expand its client base across Europe, the Middle East/North Africa region, and Asia this year. “Underpinning Read Full Details…

Mar 01

Coffee to get a roasting in chilly Northeast

HARBIN — Di Guochen, a businessman in Harbin, capital of Heilongjiang province, has an ambitious plan to turn the city into a trading center for raw coffee beans. As the chairman of the province’s coffee industry and communication alliance, Di is brewing up an idea to grow coffee in South America, transport the beans to China for processing and then sell the finished product to neighboring countries. After years of living in Brazil, Di has developed a deep understanding of Read Full Details…

Mar 01

The impact of recent South American free trade agreements on Australian agriculture

South America is becoming a major competitor for Australian agricultural products in Asian markets. The signing of 45 free trade agreements (FTAs) between South American and Asian markets over the past 10 years is increasing competition. At least 35 more agreements are under negotiation. Other factors include improved market access for South American products, increased agricultural production in South America and growing demand for imported food in Asia. In 2021–22, Chile and Peru accounted for approximately 6% of global table Read Full Details…

Mar 01

Duty-free UK market: Potential non-RMG sectors fail to take its advantage

Bangladesh’s potential non-RMG sectors couldn’t take full advantage of duty-free access facilities in the UK markets despite having huge demands for such goods there. eadymade garment (RMG) exports to the market more than doubled over the last one decade, but sectors like agro-and processed food, fish particularly shrimp, leather and footwear, and light engineering products failed to grow their footprint. Data showed that Bangladesh fetched US$4,828.08 million from exports to the United Kingdom (UK) – $4,497.22 million or more than Read Full Details…