Author: Editorial Desk

The Indian government has notified new policy conditions for the export of halal meat and related products, which will take effect from October 16. The Directorate General of Foreign Trade (DGFT) announced on Tuesday that halal-certified meat and meat products can be exported to 15 specified countries, provided they are processed or packaged in facilities certified under the ‘India Conformity Assessment Scheme (I-CAS) – Halal’ of the Quality Council of India (QCI). The 15 countries covered under this policy include Bahrain, Bangladesh, Indonesia, Iran, Iraq, Jordan, Kuwait, Malaysia, Oman, the Philippines, Qatar, Saudi Arabia, Singapore, Turkey, and the United Arab…

The World Trade Organisation (WTO) is going to host Trade and Environment Week to connect trade policies with environmental sustainability. This event supports the Committee on Trade and Environment (CTE), gathering WTO members, business leaders, international organisations, scholars, experts, and civil society. A key feature will be a high-level event hosted by the WTO Secretariat and featuring WTO Director-General Ngozi Okonjo-Iweala, Celeste Saulo of the World Meteorological Organisation, Francesco La Camera of the International Renewable Energy Agency, and Inger Andersen from the UN Environment Program. Other notable participants include Bruce Gosper of the Asian Development Bank, Lord Adair Turner of…

The Vietnamese cashew industry, a major contributor to the nation’s export economy, faces a growing trade deficit due to rising raw material prices. Despite increased export volume and turnover, the narrowing gap between export and import values raises concerns about the sector’s sustainability. According to the General Department of Customs, cashew exports grew by 22.9% in volume and 21.8% in turnover year-on-year, with an average price of $5,706 per tonne. In 2023, the industry’s export turnover reached $3.64 billion, while raw material imports cost $3.1 billion, resulting in a $500 million trade surplus. The first eight months of this year,…

To protect falcons from exploitation, the government has mandated stricter controls on the import and export of these birds to ensure they are returned by their owners and not exchanged, traded, or abandoned in Pakistan. This trade rules to protect wildlife comes after reports of Gulf dignitaries abandoning injured or older falcons while taking younger, healthier ones, which are often illegally trapped in Pakistan and sold on the black market. The decision was taken during a Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) Management Authority meeting held on September 4. The inspector general of…

US President Joe Biden made it clear on Sunday that he would not intervene in the labour negotiations involving thousands of dockworkers who are on the brink of a strike that could potentially halt operations at major ports and disrupt US trade. Biden, who was returning to Washington from Delaware, responded with a firm “no” when asked by reporters whether he would involve himself in the ongoing dispute, citing the principle of ‘collective bargaining.’ The International Longshoremen’s Association (ILA), representing approximately 85,000 dockworkers across 36 US ports, has been in contract negotiations with the United States Maritime Alliance (USMX) since…

Kenya has successfully exported dried wild sea cucumber to China for the first time, as reported by Xinhua News Agency. The shipment, weighing 300 kilograms, arrived at Changsha Huanghua International Airport in Hunan Province and hit the Chinese market on Thursday, marking a major milestone following the approval of a protocol for Kenyan wild-caught aquatic products to enter China. The introduction of Kenyan sea cucumber adds to China’s diverse range of imported sea cucumber products, which have primarily been sourced from North America and Northern Europe. The move highlights the ongoing diversification of China’s seafood import channels. In the first…

The Indian government has lifted its non-basmati white rice export ban, imposed in July 2023 to stabilize rising domestic prices. The decision, announced on Saturday, marks a reversal in trade policy aimed at bolstering agricultural exports while balancing local food security. According to a notification from the Directorate General of Foreign Trade, the export of all varieties of white rice is now permitted, subject to a minimum export price (MEP) of $490 per tonne. The MEP is a safeguard to ensure rice is not sold below this price to international buyers, preventing cheap mass exports that could undermine domestic supply…

Pakistan’s Finance Division forecasts a major decrease in inflation, expecting it to drop to between 8-9% by October 2024. This projection aligns with the broader economic trends detailed in the Division’s latest ‘Monthly Economic Update and Outlook.’ As of August 2024, Pakistan’s Consumer Price Index (CPI) has reached a 34-month low, falling to a single-digit 9.6% year-on-year, a sharp contrast to the 27.4% recorded in the previous year. The Finance Division attributes this positive trend to several economic improvements and anticipates further declines in the short term. Economic indicators from the first two months of the fiscal year 2025 reveal…

At the 79th United Nations General Assembly, world leaders have agreed on a new global commitment called the ‘Pact for the Future’. This pact aims to address global challenges through international cooperation, and one of its main goals is to develop global sustainable trade system. A key part of the pact, known as Action 5, focuses on helping developing countries grow through trade by giving them better access to global markets. This approach is seen as crucial to achieving the Sustainable Development Goals (SDGs), which include reducing poverty, improving health, and protecting the environment. Linking Trade to Climate Goals Aligning…

In the latest session of the India-Egypt Joint Trade Committee (JTC), both nations have identified international trade settlement and digital payments as key areas for collaboration, along with trade and investment in Egypt’s Suez Canal Economic Zone (SCEZ). This development was announced following the sixth JTC meeting held on Thursday. India confirms the necessary approvals for a Memorandum of Understanding (MoU) between the National Small Industries Corporation (NSIC) of India and Egypt’s MSME Development Agency (MSMEDA), aimed at fostering cooperation in the micro, small, and medium enterprises sector. Numerous sectors were highlighted as priority areas for future cooperation, including pharmaceuticals,…