Author: Editorial Desk

Pakistan’s Ministry of Commerce announced a halt on the export of 212 products to its neighboring country Afghanistan, as disclosed by ARY News. The embargo list is comprehensive, covering 17 categories of apparel, diverse vehicle tires, tea leaves, cosmetics, and an expansive array of toiletries. A broad selection of nuts, dried or fresh fruits, and household gadgets like fridges, air conditioners, and juicers join the list. This pivotal decision shadows another crucial policy alteration. Just 24 hours prior, Pakistan introduced a ten percent processing fee on numerous items imported under the Afghan transit trade agreement. Elaborating on this new…

A pivotal announcement from Ukraine highlighted the temporary suspension of its ongoing legal disagreements on grain disputes with European Union (EU) members at the World Trade Organization (WTO). This pause follows Ukraine’s earlier intimations of potential legal action against specific EU countries related to grain export restrictions. Poland, Hungary, and Slovakia implemented restrictions to protect their agricultural industries from a surge of exports from Ukraine, a major player in the grain industry, following Russia’s blockade of Ukrainian ports in the Black Sea. Taras Kachka, Ukraine’s trade representative, articulated the core of the issue, emphasizing the dynamics of trade between Ukraine…

New Delhi was abuzz with strategic conversations as India and the UAE set their sights on enhancing the rupee-dirham trade mechanism, a development signaling their deepening economic partnership. The discussions took place during the 11th meeting of the India-UAE High-Level Task Force on Investments. Piyush Goyal, India’s Commerce and Industry Minister, revealed the joint strategy crafted by the central bank of the UAE and the Reserve Bank of India (RBI). Goyal remarked that, this refined mechanism aims to streamline the remittance channels between two nations, ensuring both efficient and cost-effective funds transfer. By emphasizing trade in their respective domestic currencies,…

After experiencing a period of stagnation, the global poultry sector could soon be seeing a resurgence, as indicated by a recent Rabobank report. With enhanced demand and reduced costs on the horizon, the tail end of 2023 and the beginning of 2024 offer promising prospects. Nan-Dirk Mulder, a senior analyst of animal protein at Rabobank, expressed, “After a period of slow poultry consumption growth due to a weak global economy and rising prices resulting from cost increases, global demand has room for some recovery.” This potential boost is attributed mainly to declining feed costs, which in turn make chicken more…

Japan Proactively seeking mediation from the World Trade Organization (WTO) on China’s recent seafood ban. The ban came in the wake of the release of treated radioactive wastewater from the Fukushima Daiichi nuclear plant, even though Japan has consistently provided assurances of safety. While seafood makes up only a small fraction of Japan’s exports, the ban’s impact is deeply felt. China was a major recipient of these exports, and its embargo has significantly impacted the revenues of Japanese seafood merchants. To mitigate these effects, the Japanese government set up a 20.7 billion yen ($141 million) emergency fund last month. This…

Poland, Ukraine, and Lithuania united to sign a significant deal aimed at enhancing global grain distribution. This agreement is set to streamline Ukrainian grain exports, extending their reach well beyond Europe. The deal will relocate the customary Ukrainian grain inspections from the Ukraine-Poland border to a designated port in Lithuania on the Baltic Sea. “From tomorrow, grains that transit (to world markets) via Lithuania will undergo checks at a Lithuanian port and not at the Poland-Ukraine border,” declared Polish Agriculture Minister Robert Telus. After passing rigorous inspections for plant diseases and pests, these grains will be primed for global dispatch…

The force behind the digital forces aka datacentres are rapidly advancing in the second-largest Arabian country. With digital and tech advancements proliferating exponentially, the Kingdom of Saudi Arabia is darting forward with its datacentre market, forecasted to cross $1.77 billion by 2027. The growth is being further propelled by multinational corporations expanding their cloud regions in the country, where the cloud services market alone is expected to reach nearly $2.4 billion by 2026. Consequently, Asia-Pacific’s most favoured, Datacentre & Cloud Infrastructure Summit (DCCI) is bringing its legacy to the Kingdom on 29 – 30 November in Riyadh at the JW…

Hurricane Hilary, which struck California in August, has had lasting repercussions on the table grapes industry. This turbulent period, which ordinarily witnesses peak yields, has seen a combination of supply shortages and quality issues across Asian markets, resulting in diverse market responses. A recent USDA report reveals a noticeable downturn in grape promotions, with a 55% reduction in stores advertising them compared to the previous year. Even more concerning, seedless grape promotions have decreased by 56%. Simultaneously, seedless grape prices have seen a notable 39% increase year-on-year. This disruption, representing a loss of 25 million boxes, is significantly impacting international…

Scottish Secretary Alister Jack’s Vietnam visit commences today. It signifies a quest to fortify existing trade and diplomatic bridges. This expedition aligns seamlessly with the 50th celebration of UK-Vietnam diplomatic ties, marking an era of evolved global trade dynamics. With the support of the Scotch Whisky Association (SWA), Jack casts a spotlight on the potential of the Vietnamese export landscape, emphasizing the profound business and educational synergy between Vietnam and Scotland. Jack expressed his excitement, “The UK Government’s post-Brexit free trade agreement with Vietnam offers huge opportunities for Scottish businesses, and I look forward to promoting Scotch and other important…

On October 2, France embarked on a unique path within Europe by launching a massive duck vaccination campaign aimed at millions of ducks, marking a proactive effort to combat bird flu and prevent recurrent avian influenza outbreaks. This initiative unfolded even as the United States and Japan imposed trade restrictions on French poultry imports, citing potential health risks. France has been grappling with bird flu, with significant waves of highly pathogenic avian influenza affecting the country, especially impacting its acclaimed foie gras industry. The recurrent outbreaks since 2015, becoming nearly incessant since 2020, necessitated widespread culling, imposing a hefty financial…