Category: Trade Partnership

Mar 02

Scotland should demand single market access after NI deal, says Yousaf

Scotland should “demand” access to the EU single market after Rishi Sunak’s new deal over Northern Ireland, SNP leadership candidate Humza Yousaf has said. Speaking at the first hustings in the party’s leadership contest in Cumbernauld, Mr Yousaf asked “how dare (the UK Government)” tell Scotland it cannot have access to the single market while touting the benefits of the new deal – dubbed the Windsor Framework. The agreement – struck this week – removes the protocol’s barriers on trade Read Full Details…

Mar 02

Vietnam speeds up digitalization in trade promotion activities

Digitalising trade promotion activities and the application of information technology are important aspects of the country’s strategy for building a digital government, digital economy, and digital society, said Vu Ba Phu, Director of the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade (MoIT). Hanoi (VNA) – Digitalising trade promotion activities and the application of information technology are important aspects of the country’s strategy for building a digital government, digital economy, and digital society, said Vu Ba Read Full Details…

Mar 02

Seafood sector seeks to speed up free trade pact

Visakhapatnam: The seafood exporters in Andhra Pradesh and parts of surrounding states are looking to speed up the Free Trade Agreement (FTA) with key export destinations for relief from customs duty and to boost seafood exports. With the setbacks in US, the biggest market for seafood exports, seafood exporters said that there is urgent need to consider altering the strategy to attain the ambitious export target of $14 billion by 2025. We are appealing to the Union government and officials Read Full Details…

Mar 02

Chinese Coke Exports to Decrease in January Owing to the CNY

SHANGHAI, Mar 2 (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

US methanol trade flow shifts to exports

US methanol trade flows shifted in 2022, making the US into a predominantly methanol-exporting nation. The US exported 3.3mn metric tonnes (t) of methanol in 2022 versus 1.5mn t of imports, according to the latest data from Global Trade Tracker. In 2021, the balance was 2.3mn t of exports against 2.3mn t of imports. In 2017, the US imported 2.6mn t of methanol and exported 1.2mn t. High natural gas production and low methanol costs caused this shift in the Read Full Details…

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

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…