Author: Editorial Desk

The Indian government has prohibited the export of raw human hair priced below $65 per kilogram, according to a notification issued on Monday by the Directorate General of Foreign Trade (DGFT). The new policy revises the raw human hair exports from ‘restricted’ to ‘prohibited,’ unless the Free on Board (FOB) value meets or exceeds the stipulated price threshold. The decision follows concerns over the rampant smuggling of raw human hair to countries like Myanmar and China, which has been negatively impacting domestic industries and export markets. Smuggling activities have reportedly led to price distortions and supply chain disruptions, prompting the…

Malaysia is poised to become a significant exporter of fresh durian to China following an agreement formalized in June 2024, according to BMI, a division of Fitch Solutions. Previously, Malaysia’s durian exports to China were restricted to frozen pulp and whole frozen fruit, but the new agreement allows for the export of fresh durians, marking a notable shift in trade dynamics. Data from the International Trade Center indicates that Malaysian fresh durian exports to China amounted to $4 million between August and October 2024. BMI projects continued strong demand for durian in China, leading to increased sector investment in the…

The Codex Alimentarius Commission (CAC) has officially recognized Sardinella lemuru (Bali sardinella or tamban) under the Codex Standard for Canned Sardines and Sardine-Type Products (CXS 94-1981), resolving long-standing export challenges for the Philippines, particularly in European markets. The Department of Agriculture (DA) confirmed the development, which was finalized during the 47th CAC Session held from November 25 to 30, 2024. The recognition eliminates trade barriers, enhances market access, and strengthens the Philippines’ position in the global seafood market, the DA stated. For years, the misidentification of Sardinella lemuru had hindered Philippine sardine exports. In 2016 and 2017, the European Union…

President Trump declared that he will officially impose a 25% tariff on steel and aluminum imports to U.S on Monday. The policy which notably includes imports from neighboring Canada and Mexico, will be followed by further import duty edicts later in the week. Trump made these remarks during a news conference aboard Air Force One, while en route to New Orleans. “Any steel coming into the United States is going to have a 25% tariff,” Trump stated. He also asserted that aluminum imports would face comparable trade penalties. The President further affirmed his plans to implement ‘reciprocal tariffs’, likely by…

China’s innovative green products, from electric vehicles to dual-fuel ships, are set to play a crucial role in driving the country’s foreign trade growth in 2025, according to exporters and market analysts. These green tech exports are expected to strengthen China’s position in global supply chains amid evolving trade dynamics. Despite external challenges, China’s foreign trade reached a record 43.85 trillion yuan ($5.98 trillion) in 2024, reflecting a 5 percent year-on-year increase. Exports rose by 7.1 percent to 25.45 trillion yuan, with mechanical and electrical product exports growing by 8.7 percent and accounting for 59.4 percent of total exports. Notably,…

Pakistan’s almond exports remain limited despite the high quality of produce from Balochistan, industry experts highlighted during a seminar organized by the Trade Development Authority of Pakistan (TDAP). The seminar, titled Global Trade Analysis of Almonds: Production and Reasons for Decline, shed light on the challenges facing Pakistan’s almond industry. Global almond production reached 1.45 million tonnes in 2023-24, with Balochistan contributing 93% of Pakistan’s output. However, the country’s total production was only 18,106 tonnes, forcing it to import 3,278 tonnes last year, reinforcing its position as a net importer rather than an exporter. TDAP focal person Zainul Abideen pointed…

The Vietnam-Korea Plus Joint Working Group convened its third online meeting on February 7, discussing strategies to bolster economic cooperation and achieve the shared goal of increasing bilateral trade to $150 billion by 2030. Held in Seoul, the meeting was attended by Kim Jong Cheol, Director-General for the International Trade Relations Bureau under South Korea’s Ministry of Trade, Industry, and Energy, and Do Quoc Hung, Director of the Asia-Africa Market Department at Vietnam’s Ministry of Industry and Trade, alongside other officials. Both sides reviewed the current trade and investment landscape, exchanged views on economic developments, and explored new areas of…

In an era of rapid economic shifts and digital transformation, The Times Group’s, ET NOW Global Business Summit 2025 is set to ignite powerful conversations on the future of business and policy. This landmark gathering will bring together visionary leaders, policymakers, and innovators to shape the next phase of global growth. As the architect of India’s economic and global resurgence, Prime Minister Modi will deliver a keynote that will provide critical insights into India’s expanding global footprint, sustainable economic progress, and the role of collaboration in an interconnected world. As the architect of India’s economic resurgence, his words will not…

The government of Bangladesh has officially declared handicrafts as the product of the year 2024, aiming to highlight the contribution of women in the sector, boost exports, and diversify the country’s export basket, which is largely dominated by the garments industry. The announcement was made through a notification issued by the commerce ministry yesterday. This initiative aligns with the Export Policy 2021-24, which designates an item each year as the ‘product of the year’ to enhance its visibility in the global market. A senior commerce ministry official stated that the recognition is part of a broader strategy to promote handicrafts…

Mexico has officially rescinded its proposed ban on biotech corn imports, resolving a trade dispute with the United States under the United States-Mexico-Canada Agreement (USMCA). The move follows a February 2023 presidential decree that faced a legal challenge from the United States Trade Representative (USTR) and has been welcomed by advocates of US corn exports. On February 5, Mexico formally declared ineffective two measures that had been successfully contested by the USTR through the USMCA. These included an immediate prohibition on genetically engineered (GE) corn in dough and tortillas and a directive for Mexican agencies to gradually phase out GE…