Category: Trade Partnership

Mar 04

Global Long-Term Container Rates Arrest Decline In February, Buoyed By Surge In US Export Rates

After the record-breaking falls of January, global long-term ocean freight rates held up surprisingly well in February, boosted by “a special month” for US exports. According to the latest data from the Xeneta Shipping Index (XSI®), average long-term contracted rates dropped by just 1% across the month, following on from a 13.3% month-on-month collapse in January. Despite the relatively strong performance, seen against a backdrop of weak fundamentals, Xeneta notes that this is the now the sixth consecutive month of Read Full Details…

Mar 03

How to Get Benefits of EXIM Scheme Code

Export-Import (EXIM) Scheme Code is a unique 10-digit code assigned by the Directorate General of Foreign Trade (DGFT) to importers and exporters. It is used to identify the goods that are imported or exported and determine the benefits that can be availed under various schemes. Benefits of EXIM Scheme Code: Avail Export Benefits: With the EXIM Scheme Code, exporters can avail various benefits such as Duty Drawback, Advance Authorization, Export Promotion Capital Goods (EPCG) Scheme, etc. These benefits help in Read Full Details…

Mar 03

Challenges in global export business development in year 2023

As we enter a new year, the global export business faces a set of unique challenges that will test the abilities of companies to adapt and thrive. While the world economy continues to recover from the COVID-19 pandemic, the global export industry must confront a number of emerging trends and issues that are shaping the way that companies operate and grow. Supply chain disruptionsOne of the biggest challenges facing global exporters in 2023 is supply chain disruptions. The pandemic has Read Full Details…

Mar 03

DGFT Gives One Time Relaxation For Furnishing Additional Fee To Cover Excess Imports Affected Under Epcg Scheme

The Directorate General of Foreign Trade(DGFT) has notified the One time relaxation for furnishing additional fee to cover excess imports affected under the Export Promotion Capital Goods Scheme to promote Ease of Doing Business via issuing Public Notice. DGFT gives One time relaxation for furnishing additional fee to cover excess imports affected under EPCG Scheme The Directorate General of Foreign Trade(DGFT) has notified the One time relaxation for furnishing additional fee to cover excess imports affected under the Export Promotion Read Full Details…

Mar 03

Egypt: 42,000 apply to tax-free car import initiative for expats

Minister of Finance Mohamed Maait said on Monday that about 42,000 applied for the tax-free car import initiative for expats, and 12,000 payment orders were issued with a total value of $202m. He added that more than 2,900 car import approvals were issued, valid for one year from the date of its issuance. Maait confirmed that the recent facilities approved by the Cabinet will continue, including cancelling the deposit before the transfer, so that it is sufficient to submit a Read Full Details…

Mar 03

Brazil reinstates ethanol import tariff making US product even less viable

Brazil’s Foreign Trade Chamber (Camex) has reinstated the original 18% import tariff for ethanol by means of letting the current 0% import tariff expire as of Feb. 1. The current 0% import tariff was put in place on Mar. 22, 2022 by former President Jair Bolsonaro to help fight rising inflation in Brazil. The 18% import tax will protect Brazilian ethanol producers, especially those located in the North-Northeast regions of Brazil by reducing competitively priced ethanol imported from abroad, according Read Full Details…

Mar 03

Coke Exports to Decrease in Jan Owing to the CNY

SHANGHAI, Mar 3 (SMM) – In December 2022, the exports of Chinese coke stood at 518,000 mt, down 15.8% from the previous month and up 117.5% from the same period last year. The import volume was 29,000 mt, a decrease of 58.0% from the previous month but an increase of 31.1% from the same period last year. In January, steel mills made pre-CNY stockpiling, and those who held low coke inventory due to poor steel sales were more active in Read Full Details…

Mar 02

Starting a Digital Export-Import Business: How an Online Coach Can Help

The world of export-import business is changing rapidly, with the rise of digital technologies making it easier than ever to trade globally. As a result, many entrepreneurs are now exploring the potential of digital export-import, looking to tap into new markets and reach customers around the world. However, starting a digital export-import business can be challenging, with many different factors to consider and navigate. One way to make the process easier and more efficient is to work with an online Read Full Details…

Mar 02

Survey of laws helps African countries remove hurdles to trade in services

Policymakers have traditionally focused on manufacturing-led development as the means to improve incomes and reduce poverty. But services are now taking center stage. Services account for about half of the workforce in low and middle-income economies, up from about 40 percent in the 1990s. That increase has almost offset the decline in the share of workers in agriculture. The share of workers in manufacturing, meanwhile, has remained almost unchanged. Services – ranging from transport and telecommunications to health and education Read Full Details…

Mar 02

Gem, jewellery demand leads to expanded show in India

The continued positive impact of the gem and Jewellery industry on India’s domestic and export trade has led to an expansion of one of the country’s most anticipated industry events. For the first time in its 39-year history, the Gem & Jewellery Export Promotion Council’s (GJEPC’s) flagship event, the India International Jewellery Show Premiere (IIJS Premiere), will be held at dual venues in Mumbai: Jio World Convention Centre (JWCC) and Bombay Exhibition Centre (BEC) (located in NESCO Goregaon). JWCC will Read Full Details…