Author: Editorial Desk

Vietnam’s Minister of Industry and Trade, Nguyễn Hồng Diên, has called on Japanese businesses to enhance investments in Vietnam, particularly in high-tech sectors. The remarks were made during the Vietnam–Japan Business Forum 2024 in Tokyo, held as part of his official visit to Japan. The event was jointly organised by Vietnam’s Ministry of Industry and Trade, the Vietnamese Embassy in Japan, and the ASEAN–Japan Centre. Minister Diên highlighted the strong diplomatic ties between Vietnam and Japan, established over 50 years ago. The relationship evolved into a Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the World in 2023,…

The Abu Dhabi Investment Office (ADIO) has signed a Memorandum of Understanding (MoU) with the Export-Import Bank of the United States (EXIM) to enhance economic collaboration and boost trade between the United Arab Emirates and the United States. The agreement, signed during Abu Dhabi Finance Week (ADFW) under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, reflects the shared commitment to fostering sustainable growth and innovation. The MoU, signed by ADIO Director General Badr Al-Olama and EXIM President Reta Jo Lewis, focuses on strengthening ties across critical sectors, including energy,…

The European Union has introduced Regulation (EU) 2023/2652, requiring U.S. businesses exporting honey and other apiculture products to register with its Trade Control and Expert System (TRACES). This measure aims to tackle the growing issue of honey adulteration, a concern that has prompted the European Commission and EU Member States to tighten import regulations. TRACES serves as the EU’s official online platform for managing health certifications for importing animals, animal products, food, and feed of non-animal origin, as well as for intra-EU trade and certain exports. Under the new regulation, all establishments exporting honey or supplying apiculture products for manufacturers…

India has solidified its position as a leading exporter in the global Halal meat market, achieving exports worth $$4.4 billion in 2022. The growing international demand for Halal-certified products, particularly from Gulf Cooperation Council (GCC) nations, Southeast Asia, and North Africa, has propelled India to the forefront of this lucrative industry. Major importers, including Malaysia, Indonesia, Egypt, Iran, and the GCC countries, rely on India’s ability to meet strict Halal standards. To ensure compliance with these requirements, India introduced the India Conformity Assessment Scheme (i-CAS) for Halal certification. This initiative guarantees that exported products, processes, and services align with Islamic…

DHL Express has significantly strengthened its aviation network and ground facilities across the Asia Pacific region over the past year, addressing rising global trade demands and the rapid growth of e-commerce. Comparing the first three quarters of 2023 and 2024, the company moved 6% more shipments between Asia Pacific and the rest of the world, underscoring the region’s growing importance in international trade. Ken Lee, CEO of Asia Pacific, DHL Express, attributed this growth to the diversification of global supply chains, structural economic shifts, and booming e-commerce activities. “Thanks to our forward planning, we are well-positioned to respond to these…

The Saudi Export Development Authority (Saudi Exports) successfully organised the Saudi-Iraqi Trade Mission in Jeddah today as part of its ongoing efforts to enhance the global competitiveness of Saudi products and increase regional market presence. The event, which aligns with the Kingdom’s Vision 2030, brought together 55 companies from Saudi Arabia and Iraq, alongside key institutions such as the Saudi Export-Import (EXIM) Bank and the National Bank of Iraq. The initiative aims to strengthen economic ties between Saudi Arabia and Iraq, foster bilateral trade growth, and provide Saudi exporters with direct opportunities to enter and expand in the Iraqi market.…

The Pakistan Institute of Development Economics (PIDE), a state-run think tank, has urged the government to prioritise EV exports as a key strategy to maximise economic benefits and address challenges in transitioning to EVs domestically. In a policy advisory, PIDE recommended targeting the export of 10% of all EVs and 5% of auto parts produced in Pakistan by 2030, with an ambitious goal of exporting 50% of both by 2040. This proposal aligns with the Prime Minister’s recent directives to establish a robust EV policy aimed at reducing reliance on imported oil, improving the current account balance, and contributing to…

Uzbekistan dispatched its first container train to Brazil on December 11. The train, loaded with 54 forty-foot containers, each carrying 28 tons of urea, departed from the First Dry Port Terminal (FDP) in Tashkent. This marks a significant milestone in Uzbekistan’s logistics and export capabilities. The train’s journey will span multiple countries, traveling through Uzbekistan, Turkmenistan, Azerbaijan, and Georgia before reaching the port of Poti. From there, the containers will be shipped via sea to Paranaguá Port in Brazil. The entire delivery process is estimated to take between 60 and 70 days, with the land route covering approximately 20 days…

The potential devaluation of China’s yuan in 2025 has become a focal point for economists and policymakers, given its implications for global trade and economies like India. Currency devaluation, a strategic economic tool, can profoundly affect export competitiveness and trade balances, creating both opportunities and challenges. Why Devaluation Matters Devaluing a currency reduces its value relative to others, making exports cheaper and more attractive to international buyers. For example, if the yuan depreciates against the US dollar, Chinese products become more affordable in dollar-denominated markets, potentially boosting export volumes. However, this strategy also increases import costs, potentially driving inflation and…

ILO-Jordan ink a landmark three-year agreement to strengthen cooperative societies and promote decent work. This partnership aims to enhance the cooperative sector in Jordan by leveraging ILO tools, training programmes, and the introduction of digital services. The agreement was formalised during a ceremony held under the patronage of Jordan’s Minister of Agriculture, Khaled Al-Hunaifat, and attended by ILO Deputy Director-General Celeste Drake, Regional Director for Arab States Ruba Jaradat, and the Netherlands’ Ambassador to Jordan, Harry Verweij. Minister Al-Hunaifat remarked, “Last week, the government presented the proposed cooperative law with an integrated approach, including training and the empowerment of cooperatives,…