Year: 2023

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…

Jan 25

Korea Depends More Heavily on Battery Raw Materials from China

Korea’s dependence on China for lithium-ion battery materials, such as lithium hydroxide, cobalt, and graphite, has increased, the Korea International Trade Association (KITA) said on Jan. 24. According to KITA trade statistics released on Jan. 24, China accounted for 87.9 percent of Korea’s lithium hydroxide and lithium oxide imports in 2022, which amounted to US$3.676 billion. The figure represented an increase of 4.1 percentage points from 83.8 percent in 2021. Lithium hydroxide is mainly used for nickel cobalt manganese (NCM) Read Full Details…

Jan 25

E-Licensing for Import, Export Control Department

The Government has taken measures to introduce an E-Licence System to the Import and Export Control Department, Cabinet Spokesman and Mass Media Minister Dr. Bandula Gunawardena said. He was speaking at the weekly Cabinet media briefing held at the Government Information Department yesterday. The number of licences issued by the Import and Export Control Department in a year is around 17,000. This process is mostly done with human intervention and minimal use of technology. In order to minimize human intervention Read Full Details…

Jan 25

Decline in edible oil exports drags down Nepal’s overall export

In the last 2-3 years, Nepal’s export figure has largely been dominated by two products—palm oil and soyabean oil, which are basically not produced in Nepal. The edible oils are brought in crude form and refined in Nepal-based refineries and exported to India. Industry insiders say many producers do not even refine the oils as they import refined oils, repackage and label the products and export them to India which results in no to little value addition. Aided by the Read Full Details…

Jan 24

Implementation of Notification No.06/2015-20 dated 13th May, 2022 – Issue of RCs due to Prohibition on Export of Wheat.

Ministry of Commerce & IndustryDepartment of CommerceDirectorate General of Foreign Trade Dated 30th May, 2022 Trade Notice No. 11 /2022 — 23 Tol. All Regional Authorities of DGFT This issues with the approval of competent authority.(S. K. Mohapatra)Deputy Director General of Foreign TradeE-mail: mohapatra.sk@nic.in (Issued from F.N0. 01/911180/032/AM22/EC/Pt,/E-31336)

Jan 24

DGFT ISSUED CLARIFICATION ON IMPLEMENTATION OF PAPER IMPORT MONITORING SYSTEM

The Directorate General of Foreign Trade() has issued Clarification on Implementation of Paper Import Monitoring System via issuing Circular. The Circular Stated, “Import of products under Chapter 48 (total 201 tariff lines) of Schedule-I () of ITC (HS), 2022 are permitted subject to compulsory registration under (PIMS), vide DGFT Notification No. 11/2015-20 dated May 25, 2022.” Various representations have been received in DGFT from trade & industry seeking clarification on the applicability of the said Notification dated May 25, 2022 Read Full Details…

Jan 24

New portal will provide import and export advice

A thriving Shropshire freight business is looking ahead to 2023 with plans to help even more small and medium sized businesses to grow their export trade. Telford-based Global Freight enjoyed a bumper 2022 despite the ongoing global challenges created by Brexit, covid, supply chain issues caused by the war in Ukraine, driver shortages in the haulage industry as well as the cost of living crisis. Managing director Anton Gunter said: “Whilst some businesses undoubtedly steered away from pushing forward with Read Full Details…

Jan 24

Exim data revised, trade deficit narrows by $10 billion

India’s foreign trade data for the first eight months of 2022-23 has been significantly revised, with the import bill being scaled up or down by at least $2 billion in each of those months, in comparison to the preliminary estimates issued by the Ministry of Commerce. Total merchandise exports between April and November are now pegged at $298.3 billion, nearly $12 billion higher than original monthly data suggested. The import bill in those eight months is now estimated to be Read Full Details…