Author: Editorial Desk

For the first time in Azerbaijan-China trade, the inaugural export train has departed from Baku to China, according to Azerbaijan Railways (ADY). The event highlights Azerbaijan’s growing role in global logistics. The departure ceremony in Baku was attended by representatives from Azerbaijan and Kazakhstan railways, the Trans-Caspian International Transport Route (TITR) secretariat, and China’s Xi’an Chanba International Port Management Committee. The train’s destination is Xi’an, one of China’s major dry ports. Key Details of the Initiative The inaugural Baku-Xi’an train includes 62 forty-foot containers, transported multimodally through Kazakhstan. By the end of 2024, the project aims to move 15,000 tons…

The World Trade Organization (WTO) has released a landmark report, “Trading with Intelligence: How AI Shapes and is Shaped by International Trade,” detailing the transformative effects of artificial intelligence (AI) on global trade. The report examines AI’s potential to revolutionise trade dynamics while addressing the challenges it poses to equitable growth and international cooperation. AI’s integration into global trade could significantly reduce costs, reshape service-based trade, and boost the exchange of AI-related goods and services. The technology also has the potential to redefine economies’ comparative advantages. Through automated logistics, streamlined customs processes, enhanced regulatory compliance, and risk prediction, AI can…

Nepal’s foreign trade showed modest improvement in the first four months of the current fiscal year, driven by increased festive demand, according to the Department of Customs. Exports rose by 4.16% to Rs52.67 billion, reversing a 7.68% decline during the same period last year. Key contributors included soybean oil, cardamom, tea, and carpets. Imports also saw a marginal 0.17% increase to Rs513.38 billion, with significant growth in petroleum products, gold, iron, steel, and automobiles. Challenges Persist Despite Growth Despite these gains, Nepal’s economy continues to struggle. A slowdown in the construction sector has led to a sharp decline in cement…

A judicial magistrate in Karachi has remanded a Pakistani trader accused of defrauding a Chinese importer into the custody of the Federal Investigation Agency (FIA) for interrogation. The accused, Syed Zeeshan Afzaal Bilgrami, is alleged to have deceived the Chinese company by exporting low-value materials instead of the agreed-upon minerals, resulting in losses exceeding Rs114 million. The FIA’s Corporate Crime Circle registered the case following a complaint by Chinese national Corrine (Yunyan) Chen, represented in Pakistan by her authorised attorney, Faisal Saleem. According to the First Information Report (FIR), Bilgrami’s firm, M/s Danzu Traders, had entered into a sales agreement…

Vietnam’s strategic geographic location near prominent Muslim countries positions it as a gateway to the expansive and lucrative Halal markets. By aligning with the regulations of these markets, Vietnam can enhance its competitive edge and capitalise on the rising demand for Halal-certified products. Experts highlight the immense potential of the global Halal market, which encompasses 57 member nations of the Organisation of Islamic Cooperation (OIC) and serves over 2 billion Muslims, accounting for 25% of the global population. With an annual economic growth rate of 2.9%, the region offers significant opportunities for Vietnamese enterprises to diversify products and boost incomes.…

The ongoing political and economic turmoil in Bangladesh has severely impacted trade activities between India and Bangladesh, particularly at the Fulbari Indo-Bangladesh border. Import and export operations have suffered significantly, with traders facing mounting challenges as financial instability grips the neighbouring country. Export activities, including the shipment of boulders and stone chips from India to Bangladesh, have plunged to just 10-15% of their usual levels. The Fulbari Integrated Check Post (ICP), once bustling with cross-border activity, now sees minimal traffic. Few Bangladeshi nationals are entering India on medical visas, leaving exchange counters at the Fulbari land customs station largely idle.…

China has introduced a series of policy measures to protect its export sector from the potential impact of heightened tariffs proposed by the incoming Trump administration in the United States. The announcement on Thursday by China’s Commerce Ministry aims to counter ‘unreasonable foreign trade restrictions’ and foster a supportive environment for the nation’s exports. The move comes as US President-elect Donald Trump signals a tougher trade stance against China, including a proposed 60% increase in tariffs on Chinese goods. Trump’s earlier administration had initiated a trade war that saw a wide range of duties imposed, significantly affecting the profitability of…

Vietnam is ramping up its rice exports to Africa’s growing rice market to bolster trade ties. Despite past setbacks, the country is poised to meet rising demand, particularly for fragrant rice varieties, while countering competition from global players. Africa: A Key Market Africa has consistently been a significant export destination for Vietnamese rice, with trade growing from $411 million in 2017 to $692.6 million in 2021. However, exports dipped to $620 million in 2022, a 10.5% decline, due to global food stockpiling, higher rice prices, and supply chain disruptions caused by the COVID-19 pandemic. In 2023, the trend reversed as…

Ethiopia is intensifying efforts to diversify its agricultural exports by implementing strategic policy measures aimed at boosting global competitiveness and improving product quality, according to Minister of Trade and Regional Integration, Kasahun Gofe. The country is currently hosting the 13th International Conference on Pulses and Oilseeds, the largest event of its kind in East and Sub-Saharan Africa. The conference has drawn a wide range of participants, including international buyers, importers’ associations, value chain companies, agro-processors, and grain traders. The event, organised with support from ENA and TV BRICS, underscores Ethiopia’s growing role in the global agricultural market. Recent data from…

Bangladesh’s cotton and yarn imports plummeted in the first nine months of 2023, driven by declining demand in global and local markets, erratic gas supplies, and the ongoing US dollar crisis. Sharp Decline in Imports According to the Bangladesh Textile Mills Association (BTMA), cotton imports fell by 28% year-on-year to 9.87 lakh tonnes from January to September, compared to 13.66 lakh tonnes during the same period in 2022. Similarly, yarn imports dropped 26%, reaching 6.29 lakh tonnes compared to 8.51 lakh tonnes a year earlier. The slump comes as Bangladesh’s readymade garment (RMG) sector—accounting for over 80% of the country’s…