Category: Trade Partnership

Jan 21

Top 5 Places to Incorporate Your Business

Starting and running a business in your home country is safe, but “safe” is never good enough for ambitious entrepreneurs. If you’re ambitious, penetrating new international markets has to be at the top of your agenda. You have to take risky gambles in order to succeed in business. Though risky to start, offshore incorporations open up new B2C marketing possibilities, a larger target audience, new business experiences, and more steady income streams. What does it mean to “incorporate” a business Read Full Details…

Jan 21

Slumping China-bound Japanese exports raise fears of global downturn

Japan’s export growth slowed sharply in December as China-bound shipments fell for the first time in seven months, stoking fears of further slowdown in the global economy and external demand for Japanese shipments. Exports rose 11.5% year-on-year in December after a gain of 20% in November, marking the slowest growth since the start of 2022, dragged down by a fall-off in sales to China of cars, auto parts and chip-making machinery, Ministry of Finance (MOF) data showed on Thursday. The Read Full Details…

Jan 21

Japan’s clothing imports up 18.6% to 258,588 mn yen in Dec 2022

The imports of clothing and accessories by Japan increased by 18.6 per cent year-on-year to 258,588 million yen ($2,009.90 million) in December 2022. They were 2.5 per cent of the total imports of 10,235,704 million yen during the period under review, according to the provisional trade statistics released by the Far Eastern country’s ministry of finance. The imports of textile yarn and fabric were valued at 100,215 million yen in December 2022, which was 14.1 per cent higher than the Read Full Details…

Jan 20

Bangladesh retains 2nd place in RMG export to EU

Apparel shipments to the European Union (EU) grew 41.76 per cent year-on-year to hit $19.40 billion in the January-October period of 2022, according to data from Eurostat, the statistics department of the EU. With this, Bangladesh retained its position as the second largest garment supplier for the EU after China, which holds a 29.39 per cent share of the trade bloc’s total apparel imports from 27 countries. During the first 10 months of last year, the EU’s imports from China Read Full Details…

Jan 20

Zimbabwe joins the wave of resource nationalism

Zimbabwe banned the exports of raw lithium ores in 2022, and then banned the exports of all raw mineral ores this year. Isabeau Van Halm explores the latest example of a wave of critical mineral resource nationalism. In December 2022, Zimbabwe banned raw lithium ore exports to minimise the economic potential of artisanal mining and encourage investments in state-approved production facilities. Then in January 2023 another ban followed, according to the state-owned newspaper The Herald, this time covering all base Read Full Details…

Jan 20

Economists see global economic downturn to impact Malaysia’s 2023 external trade

Malaysian economists have said that a global economic downturn is expected to drag Malaysia’s 2023 external trade. Maybank Investment Bank said in a note that it forecasts slower 2023 exports and imports growth of 4 percent and 6 percent respectively for Malaysia as it expects global real gross domestic product growth to slump this year amid stagnation or recession in major advanced economies. “Keeping this year’s external trade in the slow growth territory is the expected firmer growth of China, Read Full Details…

Jan 19

Oil and gas supplies made Germany Norway’s most important export partner in 2022

Germany imported around 62 billion euros of Norwegian natural gas, oil and condensates in 2022 and has become the country’s number one goods importer, said the German-Norwegian chamber of commerce. Of a total of around 68 billion euros spent in imported goods from Norway last year, around 58 billion euros accounted for gas deliveries alone. “These figures show the importance of Norway for Germany,” head of AHK Norway Michael Kern said. Norway increased its gas production by ten percent last Read Full Details…

Jan 19

Malaysia’s trade surplus hits record high in 2022, growth expected at ‘softer pace’ this year

KUALA LUMPUR: Malaysia’s trade surplus hit a record high of RM255.1 billion (US$59.09 billion) last year, International Trade and Industry Minister Tengku Zafrul Tengku Abdul Aziz said on Wednesday (Jan 18). This is the 25th consecutive year the country has recorded a trade surplus since 1998. A trade surplus occurs when the value of a country’s exports exceeds the costs of its imports. The Ministry of International Trade and Industry (MITI), however, has warned that the country’s trade performance is Read Full Details…