Author: News Desk

Indonesia’s textile industry is nearing a crisis with a dozen major manufacturers planning to move operations from Vietnam to Indonesia, raising fears of factory closures and mass layoffs. The entry of textile manufacturers from Vietnam will likely increase competition in Indonesia’s market. This influx of foreign rivals could further unsettle the market, making it difficult for local manufacturers to compete. Subandi, chairman of the National Association of Importers (Ginsi), cautioned that a large-scale relocation could severely impact local factories, resulting in significant layoffs. The warning follows the financial difficulties experienced by PT Sritex, Indonesia’s former largest textile company, which defaulted…

Taiwan’s Food and Drug Administration (TFDA), under the Ministry of Health and Welfare, has proposed a draft revision to regulations governing Japanese beef imports. If implemented, the new regulations would permit beef imports of cattle of any age. Under existing regulations, beef imports from Japan must fulfill several criterias. These include being sourced from cattle under 30 months old, inspected by a veterinary officer, and processed in a factory that has official recognition. TFDA Deputy Director-General Lin Chin-fu on Wednesday told CNA that the ministry plans to revise the ‘Import regulations for Japanese beef and its products’ by eliminating the…

British International Investment (BII) collaborates with Ghana International Bank (GHIB) on a $50M initiative to elevate trade and expand access to finance for local businesses in seven African countries. The BII and GHIB alliance seeks to bridge the trade financing gap and address the lack of credit for frontier markets in Africa. The $50 million trade deal, led by British International Investment, seeks to strengthen access to finance for local businesses in seven African countries comprising Sierra Leone, Liberia, The Gambia, Benin, DR Congo, Rwanda, and Tanzania. BII declared that the $50 million facility, assisted under the Master Risk Participation…

Egypt is bolstering its roll-on and roll-off (Ro-Ro) shipping capabilities to improve the efficiency of exports, primarily for perishable agricultural products to European markets. The Ro-Ro line commenced in November last year, links Egypt with Italy through a green corridor, positioning Egypt as a key regional center for transportation, logistics, and transit trade. Vice Prime Minister for Industrial Development, Minister of Industry and Transport Kamel Al-Wazir convened with Minister of Agriculture Alaa Farouk to maximize the benefits of the Ro-Ro shipping line between Damietta and Italy’s Trieste. The discussion centered on optimizing the transport of refrigerated and dry cargo to…

The Federal Government and the United Kingdom have reinforced their commitment to bolster trade relations and economic growth through Nigeria’s National Quality Policy (NNQP) under Phase II of the Standards Partnership Programme (SPP). The British Standards Institution (BSI) and Nigeria’s National Quality Council (NQC) have partnered under the office of the Secretary to the Government of the Federation to implement the program. The initiative aims to establish a quality infrastructure by elevating standardization, accreditation, conformity assessment, inspection, testing, and metrology services to boost the export capacity of the UK and Nigeria, attract investment, and improve trade efficiency in line with…

Saudi Arabia has invested $30 million in the development of flying car manufacturing in collaboration with the American company Doroni Aerospace. Florida-based eVTOL startup Doroni Aerospace has received $30 million in funding from Innovation Wings Industries (IWI), also known as Kingdom Aero Industries (KAI) in Saudi Arabia, to produce and export its H1-X flying car. The investment is intended to accelerate the production of the HX-1, a two-seater electric aircraft designed for personal use. Doroni’s CEO, Doron Merdinger, stated that the agreement encompasses plans for a joint venture to commence manufacturing the HX-1 in Saudi Arabia beginning in 2027. The…

China is gearing up to implement decisive countermeasures against the United States following its decision to impose an additional 10% tariff on Chinese products. Trump’s plan to impose an additional 10% tariff on Chinese imports, set to take effect on Tuesday, will result in a cumulative 20% tariff on Chinese products. According to a report by the Global Times, China may implement a range of countermeasures, including tariff and non-tariff actions, to tackle tariff threats. It is anticipated that U.S. agricultural and food products will be the main targets of these retaliatory measures. U.S. agricultural exports to China, which have…

Five major Taiwan retailers, Uni-President Enterprises Corporation, Momo, PChome, PX Mart, and Coupang, have collectively invested over NT$100 billion (US$3.2 billion) to enhance logistics operations. According to Uni-President Enterprises Corporation Chairman Alex Lo, his company alone has allocated more than NT$50 billion to develop four logistics centers throughout Taiwan to establish the nation’s largest logistics system, according to CNA. Uni-President plans to open a logistics park in the Xinshi District of Tainan later this year, followed by an additional facility at Taichung Port scheduled to open in 2026. The Taichung operation is expected to create around 1,000 jobs and serve…

The Philippines’ Bureau of Animal (BAI) is updating the guidelines for bilateral recognition of bird flu regionalization. The updated bird flu guidelines aim to ensure the safe importation of poultry products amidst ongoing avian influenza outbreaks in exporting countries. The BAI is gathering position papers and feedback on the draft guidelines for recognizing highly pathogenic avian influenza (HPAI) regionalization. They are seeking input from concerned industry stakeholders until March 3. Under the proposed framework, agricultural products can be imported from specific disease-free zones within a country rather than implementing a total national import prohibition. The Bureau of Animal Industry Advisory…

Turkiye and North Macedonia have agreed to form a high-level cooperation council to strengthen the relationship and double trade, said Turkiye President Recep Tayyip Erdogan. The declaration was made during his meeting with North Macedonia’s Prime Minister, Hristijan Mickoski. The leaders formalized a joint declaration to establish a high-level council in Istanbul. “We have agreed to further strengthen our ties and signed the declaration for the establishment of our council. I hope I will soon pay a visit to Skopje for the realization of our first council meeting,” Erdogan said. President Erdogan noted that Turkish investments in North Macedonia have…