Author: Editorial Desk

Chongqing’s agricultural products are gaining significant global attention, with citrus fruits, chrysanthemums, and pickled mustard tubers making remarkable strides in international markets. Buyers from Southeast Asia have been particularly drawn to the region’s offerings, boosting exports and supporting rural revitalisation efforts. In Xiushan County’s Shidi Town, citrus fruits have become a symbol of international success. In 2023, Shidi made its first major export of 100 standard containers of citrus to ASEAN countries. These shipments, certified as independent brand origin products, marked a historic milestone. By 2024, export transactions for Shidi citrus surged to 12 million yuan (approximately $1.64 million), with…

The India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) has completed two years, showcasing significant achievements that underline the complementary strengths of both economies. Since its inception, the agreement has enhanced trade relations, fostered growth for businesses, and created employment opportunities in both nations. As the agreement enters its third year, the Government of India remains focused on maintaining this positive momentum. This aligns with Prime Minister Narendra Modi’s vision for India to become a developed nation by 2047. Bilateral Trade Growth Under the Ind-Aus ECTA, bilateral merchandise trade has more than doubled, rising from $12.2 billion in 2020-21 to…

The Vietnam Fruit and Vegetables Association (Vinafruit) announced record-breaking export achievements for 2024, reaching $7.2 billion, with products entering over 60 global markets. The announcement was made by Vinafruit Chairman Nguyen Thanh Binh during a conference held on December 27. Key export items, including mangoes, bananas, and durians, have established a firm presence in China, the world’s largest fruit and vegetable market. Binh highlighted the growing number of products being exported via official channels, with China now granting export licenses to 15 Vietnamese fruits and vegetables. Products like durians, bananas, and coconuts are experiencing particularly strong growth. Beyond China, Vietnamese…

The Advisory Council Committee on Economic Affairs (ACCEA) has approved an extension of LNG (liquefied natural gas) supply contracts for seven companies. These firms will continue sourcing LNG from the international spot market under the Master Sale and Purchase Agreement (MSPA) managed by Petrobangla, the state-owned energy company. To streamline imports, the ACCEA also approved the use of LSP software for LNG procurement until March 2025. The decision, presided over by Finance Adviser Salehuddin Ahmed, aims to address the critical gas requirements of the country’s power, industry, and fertilizer sectors. Petrobangla currently imports LNG from 23 listed companies through…

China’s Ministry of Commerce (MOFCOM) has initiated a safeguard investigation into imported beef on December 27, 2024. The decision follows an application submitted by ten domestic industry associations, including the China Animal Agriculture Association (CAAA), citing significant harm to the domestic cattle industry caused by rising imports. The investigation will assess data from January 1, 2019, to June 30, 2024, to determine whether the sharp increase in imported beef has caused substantial injury to domestic producers. According to MOFCOM, beef imports increased by 64.93% between 2019 and 2023, and by 106.28% in the first half of 2024 compared to the…

Vietnam exported 1.25 million tonnes of rubber worth $2.07 billion in the first 11 months of the year, reflecting a 15.5% drop in volume but a 5.5% rise in value compared to the same period last year, according to the Import-Export Department under the Ministry of Industry and Trade. China remained Vietnam’s largest rubber importer, accounting for 70.83% of export volume and 69.95% of export value. The average export price to China surged by 24.8% year-on-year, reaching $1,653 per tonne. Natural and synthetic rubber dominated these exports, comprising over 81% of the volume and 84% of the value sent to…

The Department of Trade under the Ministry of Commerce has announced that, effective 1 January 2025, only five import categories, encompassing 685 tariff lines (HS Code – 10 Digit), along with raw materials imported on a Cutting-Making and Packaging (CMP) basis and related equipment, will be eligible for customs warehousing. The move narrows down the previously allowed scope, as outlined in Export-Import Bulletin 2/2024 dated 30 May 2024, which permitted 1,100 tariff lines in four categories to be stored in customs warehouses without an advance import licence. This broader provision remains valid until 31 December 2024. Under the new regulations,…

Organic Nutrition Limited (ONL), a prominent Bangladeshi company, has marked its entry into the global functional food market by launching its flagship products in the United States. The announcement was made during a press conference held in Dhaka today, 21 December. The company revealed plans to expand further into Europe and the UAE, highlighting its ambition to establish a strong presence in international markets. Speaking at the event, Iftaker Rashid, Director of Organic Nutrition Limited, said, “Traditionally, Bangladesh imports premium health foods from developed nations. Today, we are reversing this trend by exporting world-class, locally produced functional foods to global…

Türkiye’s Minister of Trade, Ömer Bolat, has reiterated the nation’s push for the removal of EU transport quotas, calling the issue a key focus of trade discussions. Speaking at the ‘Transportation Corridors and Transit Transportation in the Turkish Century’ event at TOBB Twin Towers, Bolat underscored Türkiye’s commitment to securing more equitable transportation terms. Bolat highlighted the importance of the logistics and transportation sectors, especially in light of global disruptions such as the COVID-19 pandemic, the Russia-Ukraine war, and the February 6 earthquakes. Despite these challenges, Türkiye demonstrated remarkable economic resilience, achieving record-breaking exports of goods and services in 2024.…

Japan’s cabinet has approved a revision to a government ordinance, officially banning the manufacture, import, and export of all general lighting fluorescent lamps by the end of 2027. The move aligns with the international effort to curb mercury pollution, following last year’s agreement under a global convention to halt the production and trade of fluorescent lamps due to their mercury content, which poses significant health risks. The ban will be enforced in stages, with incandescent fluorescent lamps facing restrictions from January 2026, compact fluorescent lamps from January 2027, and the most widely used types, such as straight tubular and circular…