Author: Editorial Desk

To deepen economic ties between the UAE and New Zealand to center stage, Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, hosted Damien O’Connor, New Zealand’s Minister of Trade and Export Growth, in Dubai. The focus of their high-level discussion centered on the potential Comprehensive Economic Partnership Agreement (CEPA). At this crucial juncture, Al Zeyoudi highlighted the solid bond between both nations and expressed enthusiasm for boosting collaboration in pivotal sectors: agriculture, renewable energy, and healthcare. Discussions also touched upon the World Trade Organisation’s 13th Ministerial Conference (MC13) scheduled for 2024 in Abu Dhabi. Al Zeyoudi…

As global commerce stakes its claim on economic stability, key ports across the United States and Europe register discernible ports declines in container traffic during the first half of 2023. Sluggish retail imports contribute to North America’s premier 13 ports recording a 20% dip from the previous year’s numbers, settling at 12.3 million twenty-foot equivalent units (TEUs). Los Angeles, a predominant player, notched the most pronounced decline at 32%. On a broader scale, West Coast and East Coast ports logged reductions of 24% and 18% respectively. Despite this trend, Houston stood out, noting a 3.4% uptick, driven largely by a…

The European Union is actively reviewing a proposal to extend a $652 million financial support mechanism for Ukrainian grain exporters. This initiative, unveiled by Janusz Wojciechowski, the European Commissioner for Agriculture, seeks to address the growing diplomatic challenges arising from the increased grain exports from Ukraine to its EU neighbors. This proposed subsidy aims to alleviate the costs of transporting 20 million tonnes of grain to Baltic Sea ports, primarily in Germany and Poland. Historically, Ukraine directed approximately 50% of its grain exports through the volatile Black Sea route. The viability of this channel came under scrutiny when Russia, earlier…

A ripple effect through global rice markets, the Indian government has offered a lifeline to traders with non-basmati rice consignments that found themselves trapped at ports due to the unexpected export ban imposed last month. Last month’s ban, designed to counter the rocketing domestic prices of this essential grain, left numerous shipments, amounting to thousands of tonnes, stranded. This move echoed the Centre’s prior restrictions on broken rice exports. Per the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry, eligibility for export extends only to those traders securing customs clearance, completing consignment handovers, and procuring…

Understanding and advancing women’s economic empowerment requires a meticulous focus on the gender gap in trade. Yet, historically, the paucity of gender-focused data in international trade has stymied the formulation of balanced empowerment policies. Addressing this void, the United Nations Conference on Trade and Development (UNCTAD) rolled out a strategy in 2018, termed ‘microdata linking’. This strategy empowers countries to integrate their existing statistical data with gender trade dynamics. This approach, both sustainable and economical, offers a fresh alternative to designing standalone surveys. After the strategy’s introduction, six countries rigorously applied the framework. The methodology now finds its place in…

Recent data from the Ministry of Industry and Trade (MoIT) showcases Vietnam’s impressive annual export growth, expanding by billions of US dollars. This boost is largely attributed to the nation’s well-strategized free trade agreements (FTAs). The EU-Việt Nam Free Trade Agreement (EVFTA), in place for nearly three years, has significantly elevated exports to the EU. There was a remarkable growth rate of 14.2% in 2021, and the trend continued with an increase to 16.7% in 2022. The Center for WTO and Integration, associated with the Vietnam Chamber of Commerce and Industry (VCCI), conducted research that highlights the positive impact of…

Blending dazzling artistry, innovation, and sustainable solutions, the world anticipates the zenith of glass design and technology at the Global Glass Show in Abu Dhabi Date: 6 & 7, Sep. 2023 Location: Abu Dhabi A luminescent spectacle spanning two days, this premier event will bring together leading designers, architects, manufacturers, and visionaries from all over the world. Attendees can expect: Innovative Displays: From the skyscrapers of tomorrow to groundbreaking art installations, witness the transformative power of glass. Inspiring Talks: World-renowned experts discuss the evolution of glass in contemporary design, its environmental impact, and future trends. Sustainability: With a spotlight on…

The UK Government launched the Border Target Operating Model, marking a significant stride towards bolstering the country’s defenses against biosecurity threats while ensuring a seamless trade flow of goods. This initiative aligns with the UK’s 2025 Border Strategy, setting the ambition to establish the country’s border as one of the most formidable globally. Through this model, the UK will introduce rigorous security and biosecurity controls, directly impacting imports from the European Union. It’s noteworthy that many businesses have already adapted to such measures due to existing EU export standards. The primary purpose of these controls is multifold: they aim to…

Signaling a potential easing of relations between the globe’s two dominant economies, the United States and China unveiled plans Monday to create a focused group dedicated to addressing persisting trade issues and investment dilemmas. This significant revelation followed a dialog between Washington’s Commerce Secretary Gina Raimondo and China’s Commerce Minister Wang Wentao. Their dialogue is but one of a sequence of high-profile diplomatic interactions hinting at an impending summit between US President Joe Biden and China’s President Xi Jinping later this year. Underscoring the monumental nature of their financial ties, Secretary Raimondo described the rapport between the US and China…

The U.S. has voiced apprehensions regarding India’s new import limits on specific electronic devices. A statement from the Office of the United States Trade Representative (USTR) address active efforts from both sides to craft a mutually beneficial resolution. On August 26th, a crucial dialogue transpired between U.S. Trade Representative Katherine Tai and India’s Commerce and Industry Minister, Piyush Goyal. Both dignitaries underscored the need for mutual understanding, given their evolving trade relationship. Ambassador Tai articulated concerns about India’s tech equipment import licensing. Significant stakeholders should review and contribute insights to ensure the upcoming policy doesn’t jeopardize U.S. exports to India,…