Author: Editorial Desk

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…

Japan’s trade balance remained in the red for the fourth consecutive month in October, as high import costs driven by a weaker yen and surging energy prices outpaced recovering exports. The trade deficit for the month stood at ¥461 billion ($3 billion), according to data released by the Ministry of Finance on Wednesday. Exports showed signs of recovery, growing 3.1% year-on-year in October, primarily due to an uptick in semiconductor production equipment shipments. However, imports also increased by 0.4% from the previous year, maintaining the deficit trend. Challenges and Uncertainties Japan’s trade outlook is clouded by several factors, including…

French farmers escalated their protests against the European Union-Mercosur trade agreement on Monday, citing concerns over unfair competition and risks to their livelihoods. The agreement, aimed at bolstering trade between Europe and South America, has triggered widespread demonstrations as farmers argue it could overwhelm the French market with South American agricultural imports that do not meet stringent EU environmental and health standards. In Beauvais, northern France, around 50 tractors blocked traffic, and protesters barricaded a government office with manure and tires. Later, they moved to the local prefecture, setting up a noisy camp. Similar demonstrations occurred across the country, with…

Officials from Turkmenistan and Kyrgyzstan are advancing plans for a multimodal transportation corridor through the Caspian Sea to bolster trade between Central Asia and Europe. This strategic initiative, discussed during a virtual meeting on November 13, aims to enhance regional connectivity and international trade routes. The meeting, attended by Mammetkhan Chakyyev, head of Turkmenistan’s Transport and Communications Agency, and Bakyt Torobayev, Kyrgyzstan’s Minister of Water Resources, Agriculture, and Processing Industry, also covered potential collaboration in energy, transport, infrastructure, agriculture, and trade. The discussions underscored the importance of strengthening trade relations and increasing cargo flow through the Caspian Sea, creating new…

Iran’s pistachio industry, a key export sector, faces a major setback after the European Union rejected over two dozen shipments due to high aflatoxin levels. The crisis threatens not only EU exports but also the global reputation of Iranian pistachios. Despite stricter EU aflatoxin standards introduced in 2022, Iranian authorities failed to act promptly, leading to the rejection of 26 shipments out of 7,500 tons exported annually to the EU. “This issue should have been resolved six months ago instead of looking for solutions now,” said Abdollah Mohajer Darabi, a board member of the Iranian Chamber of Commerce. Deputy Minister…