Author: Editorial Desk

Global trade has reduced income gaps between nations and fostered shared prosperity over the past three decades, according to the World Trade Organisation (WTO). In its 2024 World Trade Report, the WTO highlights that multinational enterprises (MNEs) have driven export diversification and economic growth in developing nations, including Malaysia. The report mentions Costa Rica, Malaysia, Morocco, and Vietnam as examples of economies where MNE investment has shifted production from low-skill to higher-value goods. Foreign-owned companies have also boosted local economies by improving the productivity of local buyers and suppliers. Digital infrastructure development has been supported by international trade in technology…

Indonesia has rolled out new regulations to govern the kratom export, marking a strategic move to enhance the plant’s global trade value. The new directives fall under Minister of Trade Regulation Number 20 of 2024, amending earlier provisions in Permendag Number 22 of 2023, alongside updated guidelines in Permendag Number 21 of 2024. Isy Karim, Director General of Foreign Trade, stated that these regulations aim to elevate the international standing of Indonesian kratom exports, ensuring higher quality standards and increased global acceptance. The plant, known for its medicinal benefits, now faces stricter export conditions, which include mandatory tests to ensure…

Four major U.S. steel producers—US Steel, NUCOR, Steel Dynamics, and Wheeling-Nippon Steel—have launched an antidumping probe, citing concerns over rising steel imports from Türkiye and nine other nations. The companies argue that corrosion-resistant flat-rolled steel flooding the market undermines U.S. producers, warranting government action. Their petition, submitted to the U.S. Department of Commerce and the International Trade Commission (ITC), seeks antidumping duties on imports from Türkiye, Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, Taiwan, the United Arab Emirates, and Vietnam. The spotlight falls heavily on Türkiye, a key player in steel exports to the U.S. David Schneider, Operations Director…

Vietnam is embarking on an ambitious initiative to establish a global trade hub that aims to revolutionise its textile and footwear sectors by reducing reliance on outsourced production and imported raw materials, positioning the country for long-term growth and competitiveness. Industry associations plan to deploy a survey team in October, tasked with studying successful global trade centres worldwide. The objective is to tailor this model for Vietnam, ensuring it aligns with local realities and operates at maximum efficiency. Deputy Minister of Industry and Trade, Phan Thi Thang, underscored the urgency of this shift. “We cannot carry out outsourcing forever. The…

Madagascar has made a major entry into the Chinese market, sending its first shipment of lamb products to Hunan Province. This delivery marks China’s first import of lamb from Africa, following last year’s approval of Madagascar lamb for the Chinese market. Weighing over 900 kilograms and packed into 50 units, the shipment was transported from Madagascar by air to Guangzhou Baiyun International Airport before reaching Hunan’s meat inspection site by truck. Experts see this as a key step toward stronger agricultural trade ties between China and Africa. With policies favoring such exchanges, China is expected to expand its agricultural imports…

China’s Ministry of Commerce has called for the removal of US tariffs, framing it as a central issue in ongoing trade discussions. Vice Minister Wang Shouwen asserted that China’s expansive population and growing economy represent opportunities for the US, not threats. This statement came during high-level trade talks in Tianjin, where US Under Secretary of Commerce for International Trade, Marisa Lago, participated. It marked the second direct meeting this year between the two nations’ officials. The talks take place against a backdrop of persisting trade tensions. Both sides are working to resolve critical matters involving tariffs, market access, and the…

Stuart, a renowned leader in last-mile logistics, has forged a strategic alliance with global tech powerhouse Square to transform the delivery landscape for restaurants, retail, and beauty businesses. This partnership combines Stuart’s last-mile delivery expertise with Square’s adaptable point-of-sale (POS) platform, offering businesses a streamlined solution to optimize their delivery operations and boost efficiency. By integrating Square Online with Stuart’s network of independent couriers, businesses can automate deliveries, enabling quicker connections with customers while strengthening brand loyalty. The seamless integration empowers merchants to simplify their digital ordering and delivery processes, creating opportunities for new revenue streams and better customer engagement.…

Pakistan and China are looking to enhance their collaboration in the tea industry to address the significant import-export gap and boost trade opportunities. Manzoor Ali, Minister at the Pakistan Embassy in China, has expressed optimism regarding the future of tea trade between the two nations, highlighting Pakistan’s status as a major tea consumer with a population exceeding 200 million. Tea Trade Agreement In an effort to meet Pakistan’s growing domestic demand and expand into international markets, the embassy signed an agreement with the International Business Advisory Council of the China International Engineering Consulting Association (CAIEC). The goal is to extend…

The United States has introduced stringent export controls targeting China’s semiconductor and quantum computing industries. This initiative reflects Washington’s increasing concern over the use of cutting-edge technologies by geopolitical competitors. On Thursday, the US Department of Commerce unveiled these measures, following strategic consultations with international partners. The goal is to reinforce ties with allied nations. Alan Estevez, Under Secretary for the Bureau of Industry and Security, emphasized that the global cooperation on technology control ensures more effective results. “Today’s action ensures our national export controls keep step with rapidly evolving technologies and are more effective when we work in concert…

WineGB has urged the UK government to ramp up its support for expanding British wine sales globally, following a surge in export growth. English and Welsh wine exports have doubled from 4% of total sales in 2021 to 8% in 2023, reflecting increasing demand abroad. British wines are now reaching 45 countries, with key markets such as Norway, Japan, the United States, Sweden, and South Korea driving sales. Noteworthy is the 33% growth in sales of English still and sparkling wines in Norway, where sales hit 87,318 litres, according to Vinmonopolet, the Norwegian alcohol monopoly. Sweden’s Systembolaget, known for its…