Category: Trade Partnership

Jan 31

Myanmar’s foreign trade up 18.47 per cent in nearly 10 months

YANGON, Jan 29 (Xinhua): Myanmar’s total goods imports and exports surged 18.47 per cent year on year to over US$27.19 billion in nearly 10 months of the 2022-23 fiscal year beginning in April last year, official data has showed. From April 1 last year to Jan. 20 this year, exports rose 14.25 per cent to over US$13.36 billion from a year earlier, while imports climbed 22.85 percent to over US$13.82 billion, data from the country’s Ministry of Commerce showed. During Read Full Details…

Jan 31

In U.S. actions, the worry of global trade lawlessness

In a significant development in international trade law, four separate World Trade Organization (WTO) Panel reports have ruled that the tariffs of 25% and 10% on steel and aluminium, respectively, that the United States (U.S.) had imposed during the presidency of Donald Trump are inconsistent with WTO law. The cases were brought by China, Norway, Switzerland, and Turkey. The WTO panellists held that these tariff rates breached the U.S.’s obligations under Article II.1 of the General Agreement on Tariffs and Read Full Details…

Jan 31

Mexico keen to expand trade with Bangladesh

Latin American country Mexico wants to expand trade relations with Bangladesh as both the countries have great potential in the automobile, pharmaceutical, chemical, and fintech sectors. Federico Salas Lotfe, ambassador of the Embassy of Mexico in New Delhi, India, made a courtesy call on Mostofa Azad Chowdhury Babu, senior vice president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Monday at Motijheel, Dhaka. During the meeting, the Mexican ambassador said, “Economic relations between Bangladesh and Mexico are Read Full Details…

Jan 31

MOFCOM Intends to Ban/Restrict Exports of 139 Technologies Involving Steel, Nonferrous Metals, Photovoltaics, Semiconductors

SHANGHAI, Jan 31 — On December 30, 2022, the Ministry of Commerce of the People’s Republic of China (MOFCOM) published on its official website the Notice for Public Comments on the Revised Catalogue of Technologies Prohibited and Restricted from being Exported in China. The deadline for comments and feedback is January 28, 2023. The revised Catalogue includes a total of 139 items, including 24 items of prohibited export technologies and 115 items of restricted export technologies. Many of them involve Read Full Details…

Jan 30

Uzbekistan-Tajikistan 2022 Trade Up 11.3%

The 2022 trend of increased intra Central Asian trade continues with Uzbekistan’s State Statistics Committee saying that the national trade with Tajikistan’s increased over the past year. According to this data, Uzbekistan’s trade turnover with Tajikistan reached US$674.4 million in 2022, an increase of 11.3% compared to 2021 (US$605.6 million). During 2022 the value of Uzbek exports to Tajikistan increased by 3.5% to US$519.9 million. Tajik exports to Uzbekistan reached US$154.5 million, an increase of 49.1% compared to 2021. Uzbekistan Read Full Details…

Jan 30

Taxes slow India’s solar power rollout but boost manufacture

In May last year Fortum India, a subsidiary of a Finnish solar developer, won the bid for a solar power project in the state of Gujarat. The project was due to be completed three months ago and would have generated enough electricity for 200,000 homes. But like many other solar power projects in the country, it’s been delayed as Fortum India struggles to source and pay for necessary components. “For the last six months, we have not been able to Read Full Details…

Jan 30

Singapore and Malaysia sign agreements to deepen cooperation in digital, green economy

Singapore and Malaysia have agreed to strengthen bilateral cooperation and jointly seize opportunities in the digital economy and green economy, and to work closely on data protection and cyber security. Prime Minister Lee Hsien Loong and Malaysian Prime Minister Anwar Ibrahim witnessed the signing of three agreements covering these fields on Monday, during Datuk Seri Anwar’s first official visit to the Republic since he was sworn in as Malaysia’s 10th PM on Nov 24. The deals followed a meeting between Read Full Details…

Jan 30

Match box producers call for ban on importing lighters

National Small Matchbox Manufacturers’ Association has appealed to the Union and Tamil Nadu governments to ban import of plastic lighters. In the larger public interest and in the interest of six lakh daily wage earners who were dependent on match box units for their livelihood, the governments should seriously consider the demand and put an end to import of plastic lighters, said its general secretary V S Sethurathinam. Speaking to reporters here on Sunday, he said that there were 2,530 Read Full Details…

Jan 30

China Import and Export Licensing Management in 2023: List of Goods Impacted

Since the start of 2023, new rules and regulations are set to impact the operations of foreign businesses in China. Among others, China has announced adjustments to export and import administration, such as simplifying registration procedures and lowering tariffs. In this article, we discuss which goods will be subject to import and export licensing management in 2023 under the updated regulation. China’s import and export licensing frameworkChina’s customs authorities will require a trading company to be equipped with proper import Read Full Details…

Jan 29

Challenges to India’s G20 Presidency and Effectiveness of G20 Framework

India’s G20 (The Group of Twenty) Presidency inherits volatility of geopolitics coupled with a slowdown in global economic activity. The road ahead for India is full of challenges including the war on Ukraine and the Covid-19 pandemic threatening the global economy, which is experiencing disrupted supply chains, cost of living crisis, soaring energy prices and challenges to climate action. India has chosen the theme – ‘Vasudhaiva Kutumbakam’ or ‘One Earth, One Family, One Future’ for her G20 Presidency representing a Read Full Details…