Author: Editorial Desk

Saif Ur Rehman, Coordinator to Pakistan’s Federal Tax Ombudsman (FTO), announced that Malaysian buyers have expressed strong interest in importing high-quality Pakistani food products that meet international standards. Rehman is currently leading the Pak Food delegation on a two-week visit to Malaysia to explore export markets and potential joint ventures. Rehman noted that Malaysia’s increasing demand for Pakistani food products reflects a shared appreciation for quality items and signifies an opportunity to strengthen trade ties between the two nations. Pakistan offers a range of goods—including rice, fresh fruits, spices, and processed foods—well-suited to Malaysian tastes. He emphasized that Pakistan’s focus…

The Agricultural Business Chamber of South Africa (Agbiz) has raised concerns over the potential impact of Donald Trump’s proposed trade policies, should he return as U.S President. Agbiz cautioned that Trump’s suggested tariffs, particularly a 20% levy on all imports and up to 60% on Chinese goods, could disrupt global agricultural trade if China retaliates. Wandile Sihlobo, Agbiz’s chief economist, highlighted that a revival of tariffs could mirror the adverse effects seen in 2018, when retaliatory measures strained U.S. agriculture. “If China retaliates as it did the last time, the US soybean and maize farmers and pork producers would again…

India’s fuel export, particularly diesel, to the European Union (EU) have soared by 58% in the first nine months of 2024, largely due to discounted Russian crude oil supplies. This increase underscores India’s growing role in the global oil market as it capitalizes on discounted Russian oil, a resource Western nations sanctioned in December 2022 to curb funding for Russia’s conflict in Ukraine. The EU, alongside G7 countries, had enforced an embargo and a price cap on Russian crude, aiming to weaken Russia’s revenue. However, a significant loophole allowed non-sanctioning countries like India to continue purchasing Russian crude, refining it,…

The Alabama Department of Commerce’s Global Business team is spearheading a mission to Germany for MEDICA 2024, the world’s premier medical industry event, with a delegation of Alabama-based small and mid-sized businesses. MEDICA, which began today and runs through Wednesday, attracts exhibitors and visitors from over 60 countries, offering Alabama companies a valuable platform to explore new markets, forge international partnerships, and demonstrate their innovative products and services. The Alabama delegation is hosting a ‘Made in Alabama’ booth at the Düsseldorf event, highlighting the state’s growing capabilities in bioscience and medical technology. Christina Stimpson, Chief Officer of Global Business for…

Following Donald Trump’s re-election and his promise to impose steep tariffs on Chinese goods, U.S. importers are expected to accelerate imports from China to avoid price hikes before the January inauguration. This anticipated rush could temporarily boost Chinese exports, though analysts expect limited economic impact on China’s GDP in the short term. Capital Economics estimates that substantial U.S. tariffs would have a minor effect on China’s GDP, as exporters may bypass tariffs through alternative trade routes and benefit from potential yuan depreciation. A tariff increase from 15% to 60% could reduce China’s GDP by 1.1%, with currency adjustments potentially lowering…

Royal Fans, a Pakistani fan manufacturer from Gujrat, is showcasing its products at the 7th China International Import Expo (CIIE) in Shanghai. This debut at the expo highlights Pakistan’s growing manufacturing potential on an international stage, as the company displays a range of ceiling, pedestal, and bracket fans made from wood, metal, and plastic. Yasir Waseem Arshard, Export Marketing Manager at Royal Home Appliances, emphasized that the CIIE provides a valuable opportunity to connect with global markets, particularly in China, and gain insights from industry peers. The expo’s consumer goods section spans over 80,000 square meters, hosting more than 700…

Demand for Nepali tea and coffee is on the rise internationally, reports the National Tea and Coffee Development Board. In the fiscal year 2022–23, Nepal exported 77 metric tons of coffee, up from 72 metric tons worth Rs 96 million the previous year. Data for 2023–24 is still being collected, but early signs indicate continued growth. On the import side, coffee imports decreased significantly from 450 metric tons valued at Rs 320 million in 2021–22 to Rs 100 million last year. Coffee cultivation in Nepal covers 3,659 hectares and involves about 33,000 farmers. International demand for Nepali coffee, mostly the…

India is likely to engage in diplomatic talks with the United States over sanctions imposed on 24 Indian companies, seeking a resolution that avoids escalating the issue to international bodies like the World Trade Organization (WTO) or International Court of Justice (ICJ). According to a report from the Global Trade Research Initiative (GTRI), India aims to navigate this complex situation through direct dialogue rather than legal challenges. The sanctions, enacted by the US State Department, Treasury, and Commerce Department, target companies allegedly linked to Russia’s defense industry in Ukraine. Major entities impacted include Shreya Life Sciences, Soni Electronics, and Solex…

The Central Board of Indirect Taxes and Customs (CBIC) announced new relaxations for Customs Cargo Service Providers (CCSPs) on Friday. By enhancing trade efficiency and reducing logistics costs these measures are aimed at improving the ease of doing business, aligning with India’s goal to strengthen its position in global trade. The new rules include a reduction in mandatory insurance days for stored goods. Under the previous regulations, CCSPs were required to insure goods stored in customs areas for 10 days. This has now been reduced to 5 days, significantly lowering insurance costs and freeing up cash flow for service providers,…

Nestle Pakistan has set a $50 million export target by 2030, aligning with the government’s vision to bolster foreign reserves. Announced at the ‘Limitless Possibilities’ ceremony on Wednesday, the company shared its plan to expand exports, generating $23 million in revenue from 26 countries in 2024 alone. Federal Minister for Industries and Production Rana Tanveer Hussain praised the company’s progress, stating, “As Pakistan progresses towards economic growth and recovery, the importance of exports cannot be overstated. Given the scale of Nestle’s global operations, we anticipate further export growth from Pakistan in the coming years.” He noted that Nestle’s strategy directly…