Category: Trade Partnership

Feb 15

Thailand works to spur exports to Cambodia, among four potential markets

Thailand’s Commerce Ministry is scheduled to organise about 450 activities to stimulate exports this year, focusing mainly on four potential markets namely the Middle East, South Asia, China, and the CLMV (Cambodia, Laos, Myanmar and Vietnam), a senior official has said. The ministry is also keen to tap new markets such as Central Asia and Nordic countries, Phusit Ratanakul Sereroengrit, director-general of the International Trade Promotion Department, was quoted by Bangkok Post as saying. According to Phusit, the export promotion Read Full Details…

Feb 15

The Road to Trade Winds ASEAN: Malaysia

U.S. businesses looking for opportunities to export to Southeast Asia should strongly consider Malaysia. A country with a growing upper-middle income population, Malaysia has a well-established legal framework, a business-friendly environment, and a large English-speaking worker and consumer base. With an increasingly receptive market for sophisticated products and services, including in technology, manufacturing, and healthcare, Malaysia remains the 19th largest trading partner of the United States, and trade between the two countries has nearly doubled over the last decade, peaking Read Full Details…

Feb 15

Indonesia and Malaysia move to secure palm oil exports amid talks of EU deforestation ban

With aims to secure a steady flow of palm oil exports from Asia toward the EU, Indonesia and Malaysia are sending a joint delegation to Europe to gather more information and present their views on the bloc’s future policy regarding the commodity. A new ban on deforestation-linked commodities may block future imports of palm oil from the two countries. All the involved players, Indonesia, Malaysia and the EU, have signaled that the future of free trade for palm oil is Read Full Details…

Feb 15

Vietnam, China boost import-export activities of agricultural products

Accordingly, the Ministry of Agriculture and Rural Development yesterday collaborated with the People’s Committee of Lang Son Province to host the conference. The People’s Committee of Lang Son Province said that although China has eased Covid-19 pandemic control on cargo import-export and customs clearance at the border gates, Vietnamese drivers have to show the Covid-19 test certificate via PCR method lengthening the waiting time at the gates and increasing costs. Besides, the Asia-Africa Market Department under the Ministry of Industry Read Full Details…

Feb 14

Foreign trade policy may be released in April

New Delhi: The government may announce the much-delayed Foreign Trade Policy (FTP) in April that will establish its long-term vision for exports and a policy for sectors such as e-commerce, an official aware of the plans said, at a time of heightened global economic volatility. The policy can allow for interventions to address immediate issues, and outline measures to accelerate releases and reduce the physical interface. The new FTP comes at a time when India’s outbound shipments are starting to Read Full Details…

Feb 14

After free trade pact, 80% of exports to UAE to be duty free

India is likely to export at least 80% of its products to the UAE duty-free once the bilateral free trade pact comes into effect. The country would be able to export textiles worth an additional $2 billion in the next two years and treble the plastics exports to the UAE under the Comprehensive Economic Partnership Agreement (CEPA), which the two sides will sign on Friday, said people aware of the matter. Source : economictimes.indiatimes.com/ For More Details

Feb 13

EU seeks currency convertibility from India

NEW DELHI : The European Union has suggested that India liberalize its capital account restrictions as part of a comprehensive free trade agreement being discussed with New Delhi, according to the text of the latest negotiations. During the third round of India-EU FTA talks held between 28 November and 9 December, the EU proposed a chapter on capital movements, payments and transfers; however, the Indian side sought views on its purpose and scope, given that this would exceed India’s World Read Full Details…

Feb 13

E-commerce can propel exports

The upcoming Foreign Trade Policy can spell out a vision in this regard, given the growth of ‘e-shopping’ India has come a long way since the decade of the 1990s when its exports were mostly led by the services sector. Today, a strong focus on both services and manufacturing is providing strong tailwinds to Make in India for the world paradigm. This change did not happen by chance but due to relentless pursuit and participation of the industry under the Read Full Details…

Feb 13

Egypt’s exports to South Korea records 161 percent increase in 2022

Egypt’s exports to Korea recorded an increase of 161 percent in 2022 year-on-year as it reached an all-time high of $1.69 billion, the Cairo office of the Korea Trade-Investment Promotion Agency (KOTRA) said on Sunday. According to KOTRA, Egypt’s exports to Korea marked a $220 million surplus in 2022 from a $1 billion trade deficit in 2021. Natural gas and petroleum products top Egypt’s exports to South Korea. Egypt exported to Korea $810 million worth of natural gas and $760 Read Full Details…

Feb 13

Imports rise by 27 percent, exports up by 35 percent in December 2022

The Maldives Customs Service has reported a significant increase in imports and exports in December 2022. Total imports, including fuel, stood at MVR 5.6 billion, with a 27 percent rise, while imports excluding fuel observed a 24 percent increase, totaling MVR 4.6 billion. The country’s exports also increased by 35 percent to MVR 299 million worth of commodities. The top five import categories were fuel, food items, vessels, machinery, and base metals, while the top five import countries were France, Read Full Details…