Author: Editorial Desk

Financial Secretary of Hong Kong, Paul Chan Mo-po, is encouraging investors to view Hong Kong as the premier financing platform for infrastructure projects under China’s Belt and Road Initiative (BRI). He emphasizes the city’s strong legal system, plentiful fiscal products, and proficiency in handling renminbi-based transactions. In his weekly ministerial blog, Chan conveyed optimism that the BRI would catalyze a surge in green infrastructure projects, with Hong Kong playing a central role. This year commemorates the tenth anniversary of Beijing’s strategic plan to interconnect economies across Asia, Europe, and Africa into a trading network centered around China. Chan indicated that…

India, the US, Saudi Arabia, and the EU have unveiled a pioneering multinational rail and ports deal during the G20 summit in New Delhi. This strategic initiative aims to fortify trade bonds between India, the Middle East, and Europe, regions that collectively constitute average one-third of the world’s economy. Indian Prime Minister Narendra Modi, US President Joe Biden, Saudi Crown Prince Mohammed bin Salman, and EU leaders jointly announced the initiative. Modi noted during the corridor’s inauguration that this pivotal unity would eventually facilitate the economic integration of India, the Middle East, and Europe. Biden underscored the importance of the…

To bolster the UK’s economy and advance security, Prime Minister Rishi Sunak has agreed on a new bilateral partnership with Singapore. The Prime Minister will meet Singaporean PM Lee Hsien Loong in the margins of the G20 Summit in India to ink a new UK and Singapore Strategic Partnership. Strengthening Trade and Investment The strategic partnership sets the course for UK-Singapore relations for the coming decade, focusing on upgrading trade and investment relations with one of Southeast Asia’s powerhouse economies. Both countries have identified common objectives and expertise in areas such as technology and clean energy. Following the strategic partnership,…

The United States and India have successfully negotiated a settlement for the final unresolved dispute at the World Trade Organization (WTO) concerning poultry products, signifying a momentous advancement in India and US trade alliance. Furthermore, India has agreed to decrease tariffs on an array of American goods, containing frozen turkey, duck, and numerous products of cranberry and blueberry, as reported by the Office of the United States Trade Representative. Katherine Tai, the US Trade Representative, announced on Friday that the United States and India reached an agreement to settle their remaining outstanding dispute at the WTO, officially known as Measures…

While facing widespread sanctions following its invasion of Ukraine, Russia’s global trade experienced a surprising surge in this August, as reported by the Kiel Institute for the World Economy. The report highlighted that the number of container ships docking at Russian ports is almost at the same level as before the war began, suggesting a potential revival of Russia’s global trade. This development is particularly unexpected given the devaluation of the ruble and the Western-imposed sanctions, noted Vincent Stamer, head of the Kiel Trade Indicator. The institute derived its calculations from the quantity of goods offloaded at three of Russia’s…

A pivotal moment marked the economic relations between the Philippines and South Korea as they officially inked a Free Trade Agreement (FTA), announced by Philippine President Ferdinand ‘Bongbong’ Marcos Jr. on Thursday. Marcos highlighted the profound impact of the Philippines-Korea FTA accord, highlighting its capacity to solidify bilateral trade and investment ties and symbolize a significant milestone in their economic alliance. This strategic move followed Marcos’ attendance at the 43rd ASEAN and Related Summits, after which he engaged in a bilateral discussion with South Korean President Yoon Suk Yeol. Witnessing the FTA signing during this session, Marcos acknowledged it as…

The world’s battle against climate change introduces shifts like the European Union’s (EU) carbon border adjustment mechanism (CBAM), profoundly altering global trade landscapes. Top officers from India’s government and steel industry representatives convened recently to dissect the intricacies of the EU’s looming carbon tax and potential repercussions on Indian exports. With Commerce Secretary Sunil Barthwal at the helm, this significant gathering welcomed experts from diverse departments, encompassing Finance, Power, Steel, and Mines. This high-profile conversation aimed to discern how India, a key exporter to the EU, should best brace for the CBAM, particularly concerning metals like iron, steel, and aluminum.…

The call for a sustainable future resounds louder than ever from the heart of Bangladesh. With ambitions that extend beyond its textile prowess to champion global recycling, Bangladesh envisages an eco-conscious future. Leading this green charge is the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). “We aspire to establish ourselves as a global recycling hub and further contribute to our economy while positively impacting our climate,” expressed Faruque Hassan, BGMEA’s president, during the unveiling of the “SWITCH to Circular Economy Value Chains (SWITCH2CE)” program. With its status as the world’s second-largest apparel exporter, Bangladesh confronts an immense garment waste challenge.…

Highlighting the fragile ties between Japan and China, the Japanese government lodged a formal protest with the World Trade Organization (WTO) on Tuesday. The protest concerns China’s decision on import seafood ban from Japan, a move that followed Japan’s initiative to discharge treated radioactive water from the imperiled Fukushima nuclear power plant. During the recent press briefing, Chief Cabinet Secretary Hirokazu Matsuno confirmed that the Japanese side circulated the protest document, dated Monday, to WTO member nations. China’s announcement of the import ban last week led to this immediate response from Japan. Describing Beijing’s action as “totally unacceptable,” the document…

As global food security dynamics teeter on the brink, Russia’s recent indication of a possible reconsideration of the export of Black Sea grain deal captures international attention. President Vladimir Putin made this revelation on Monday, September 4th, when Moscow intensified its pressure on Ukraine with strikes on one of its principal grain-exporting ports. “I know you intend to raise the issue of the grain deal. We are open to negotiations on this issue.” Putin articulated during a televised interaction with Turkish President Recep Tayyip Erdogan. The initial accord, a collaborative effort with the United Nations and Turkey, emerged from the…