Author: Editorial Desk

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…

Switzerland’s Federal Council has ratified the ambitious trade deal between India and the European Free Trade Association (EFTA). This pact, signed in March, includes four European nations: Norway, Switzerland, Iceland, and Liechtenstein. Aimed at boosting trade across industries such as pharmaceuticals, manufacturing, technology, and machinery, the agreement sets the stage for deeper economic ties between India and EFTA countries. The trade deal holds immense promise, with a potential investment of $100 billion in India over the next 15 years from the four European states. However, before the agreement takes effect, each signatory country must ratify it individually. On Wednesday, the…

China’s decide to open its market to quality Nigerian products to boost bilateral trade and elevate Nigeria’s economic prospects. This development emerged after a high-level meeting between Nigerian President Bola Ahmed Tinubu and Chinese President Xi Jinping during Tinubu’s state visit to Beijing. Both countries have formalized their commitment through a joint statement, highlighting China’s readiness to increase imports of Nigerian goods. The move provides Nigeria with key opportunities to showcase its products at platforms like the China International Import Expo (CIIE), China-Africa Economic and Trade Expo (CAETE), and the China Import and Export Fair (Canton Fair). These venues are…

China announced on Tuesday an anti-dumping investigation into Canadian canola imports, following Canada’s decision to impose tariffs on Chinese electric vehicles (EVs). The move comes after Canada, aligning with the U.S. and European Union, introduced a 100% tariff on Chinese EVs and a 25% tariff on Chinese steel and aluminum imports. China’s Ministry of Commerce condemned Canada’s actions, calling them “discriminatory” and warning of potential repercussions, including investigations into other Canadian products such as chemicals. Canadian officials expressed concern. Agriculture Minister Lawrence MacAulay stated that Canada’s canola producers adhere to global trade rules and that the government will closely monitor…

Uganda’s global trade deficit increased in June 2024, widening to $247.9 million compared to the $92.58 million recorded in May. Data from the Ministry of Finance, Planning, and Economic Development, along with the Bank of Uganda, revealed that the sharp decline in exports was the main reason to this increase. Despite a reduction in imports, the export sector suffered a bigger hit, with total merchandise exports dropping from $940.9 million in May to $718 million in June. The steep decline in mineral exports, from $494 million in May to $253 million in June, significantly impacted the balance. However, excluding mineral…

The UK government halt certain arms exports to Israel, reflecting a strategic shift under the new Labour leadership. This action highlights a broader rethink of Britain’s stance on the Israel-Palestine conflict, setting the current government apart from its Conservative predecessor. Labour, while maintaining unwavering support for Israel’s security, has introduced measures that mark a clear departure from previous policies. This suspension represents the third significant deviation by the government since it assumed power in July. Earlier, Labour reinstated funding for UNRWA, the UN agency for Palestinian refugees, after a comprehensive review of alleged connections between its staff and terrorist organizations.…

The worldwide demand for pulses is on the rise, opening up new opportunities for both established and emerging market players. Rabobank’s recent report highlights the growing importance of pulses due to their environmental benefits, including improving soil quality and reducing greenhouse gases. Despite their significance, pulses remain a niche segment in the global grains and oilseeds market. The report stresses the need for increased market transparency to attract investment, meet the growing demand, and boost trade volumes. Key Drivers of Pulse Demand Vito Martielli, Rabobank’s senior analyst for grains and oilseeds, identifies two main factors driving the global demand for…

The Ammonium Sulphate market has so an uptick on price throughout August 2024, driven by a confluence of factors including raw material shortages, labor constraints, and robust export demand, particularly in Europe and Asia. Europe’s Ammonium Sulphate sector grapples with reduced production capacities, exacerbated by summer labor shortages and diminished raw material availability. Trade instability and export delays further compound the situation, leading to heightened import costs and severe supply chain disruptions. These pressures have contributed to a pronounced price escalation, straining the market considerably. In Asia, the scenario presents a similar pattern, with China at the epicenter of rising…