Year: 2023

China’s commercial authorities have canceled registration requirements for businesses engaged in foreign trade activities from Dec 30, 2022, following a revision of the country’s Foreign Trade Law, the Ministry of Commerce said. The authorities will no longer require market entities to provide foreign-trade operator registration materials in applying for import and export licenses, registration certificates of technology import and export contracts, quotas, state-owned trade qualifications, and other relevant documents. The change is a significant reform measure in foreign trade management, Read Full Details…

Local commerce authorities in China have stopped filing and registering foreign trade operators from December 30, in accordance with the revised law on foreign trade, the Ministry of Commerce said on Tuesday. The relevant authorities will no longer require market entities applying for certain certificates and qualifications to provide foreign trade operator filing and registration records. The certificates and qualifications in regard include import and export licenses, technology import and export contract registration certificates, quotas, and State-operated trade certificates. “That Read Full Details…

The impact of slowing global trade is beginning to show on credit demand from Indian exporters, with export credit by banks shrinking nearly a quarter year-on-year at the end of October, pointing to a further likely slowdown in overseas merchandise shipments. Exports contracted in October after a gap of 19 months. Merchandise exports slipped below the level of $30 billion for the first time in the last 20 months. This marked a contraction of 16% on a sequential basis and Read Full Details…

Earlier in the day, Prime Minister Narendra Modi in Meghalaya attended the golden jubilee celebration of the North East Council (NEC) and inaugurated and laid the foundation stone of multiple projects at a public function in Shillong. Prime Minister Narendra Modi on Sunday said that Tripura is emerging as an international trade gateway and logistics hub of the northeast due to developments ushered by the double-engine governments of the Bharatiya Janata Party (BJP) at the centre and in the state. Read Full Details…

Prime Minister Sheikh Hasina today inaugurated the month-long Dhaka International Trade Fair (DITF)-2023 at Bangladesh-China Friendship Exhibition Center in Purbachal. The prime minister opened the fair at an event as the chief guest. Some 17 organisations from 10 countries including Singapore, Indonesia, Korea and India alongside local companies are taking part in it. With Commerce Minister Tipu Munshi in the chair, Export Promotion Bureau Vice Chairman AHM Ahasan delivered the welcome address at the inaugural event. Textiles and Jute Minister Read Full Details…

Britain’s trade chiefs have long loved a headline-grabbing, Instragram-worthy free-trade deal to get the Brexit blood pumping. But Kemi Badenoch has something much less sexy in mind: motorways. The current international trade secretary — a onetime Tory leadership challenger and a firm favorite of the party grassroots — has spent the past few months since taking the reins at the Department for International Trade (DIT) stressing that she sees more to the beat than the host of big-bang agreements struck Read Full Details…

The rise reflects the fact that the monetary value of the country’s imports is disproportionately higher than its exports. Rabat – Morocco’s trade deficit soared by nearly 57% at the end of November 2022, triggered by the lingering price shock within the energy and food markets. Trade deficit, which reflects a country’s ability to continue importing products it needs without draining its foreign currency reserves, has been climbing to record heights in Morocco throughout this year. The rise trade deficit Read Full Details…