Author: News Desk

The Brazilian Cotton Producers Association (ABRAPA) has committed to providing comprehensive technical assistance to Pakistan to boost its local cotton production. The Brazilian delegation, comprising representatives from the Brazilian Cotton Producers Association, Brazilian Cotton Shippers Association, and Brazilian Trade and Investment Promotion Agency, visited the All Pakistan Textile Mills Association (APTMA) office in Lahore to explore collaboration and investment opportunities in the cotton sector. The Pakistan-Brazil meeting yielded productive talks on sustainable cotton practices and industry challenges. Both nations agreed to strengthen bilateral cooperation and explore new investment opportunities in the cotton sector. The Brazilian delegation recognized Pakistan’s growth potential…

Chinese Ambassador to Bangladesh, Yao Wen, has shown strong interest in importing 1,000 metric tons of hilsa fish from Bangladesh, stressing the considerable demand for the Bangladeshi delicacy in China. “Bangladesh has a unique opportunity to reduce its trade deficit by capitalizing on the growing demand for hilsa fish in China,” Ambassador Wen stated during a meeting with Commerce Adviser Sk. Bashir Uddin at the Secretariat on Thursday. In addition to hilsa fish, the ambassador noted China’s interest in importing other Bangladeshi fruits such as mangoes, jackfruit, and guava. He also underlined the potential for increased Chinese investment in these…

The government of Burkina Faso has reinstated a ban on the export of major agricultural commodities such as rice, millet, maize, sorghum, and cowpeas in a statement issued on Tuesday. This move is expected to significantly impact trade between Burkina Faso and its neighboring country, Ghana. The initial ban on exporting cereals along with white beans (cowpeas) was first enacted on December 19, 2023. On November 13, 2024, the Ministry of Foreign Affairs and Regional Integration reaffirmed the ban through a communiqué from Burkina Faso, reminding buyers that the restriction remains in effect. The restriction is intended to protect Burkina…

Moroccan officials have unexpectedly suspended Egyptian imports, causing the stoppage of shipments already at the ports. The sudden suspension affects a wide range of products, including agricultural and industrial goods such as food items, ceramics, iron, and electrical appliances. The decision has raised concerns that the suspension violates existing trade agreements between Morocco and Egypt, particularly the Agadir Agreement, which removes tariffs on trade among Egypt, Morocco, Jordan, and Tunisia. Around 150 containers filled with ceramics, food products, and insulation materials are stranded at the ports. Earlier this week, the government dispatched a high-level delegation to Rabat to advocate for…

The EU is urging India to reduce import duties on key European products: whiskey, wine, and automobiles. The European Union is pressing for reduced tariffs on whiskey, wine, and car exports in Free Trade Agreement (FTA) talks with India. The demand will be a primary focus during the visit of the EU’s College of Commissioners, headed by President Ursula von der Leyen, to India in February. A representative stated that the European Union is seeking a broad and commercially significant trade deal that tackles multiple issues beyond tariffs, including non-tariff trade obstacles and government purchasing regulations. EU officials highlight that…

The Kogi State government has finalized an agreement with China to launch the Kogi Hunan Special Economic Zone, which will have the status of a Free Trade Zone. Governor Ahmed Usman Ododo conveyed this information while welcoming a delegation of Chinese investors and consular representatives headed by Ms. Yan Yuqing, the Consul General of the People’s Republic of China in Lagos, during a meeting at the Government House in Lokoja on Tuesday. The Governor assured the Chinese delegation that the Kogi State administration, in collaboration with its private sector partners, would establish all necessary infrastructure and regulatory frameworks to ensure…

Nigeria and 23 other non-OECD countries have requested EU approval to be added to the list of countries eligible for importing non-hazardous waste from the European Union. On Monday, the European Commission stated that Nigeria, along with 23 other non-OECD countries, have applied for inclusion on the list of nations authorized to import non-hazardous waste from the European Union. The applications are in line with the EU’s newly implemented Waste Shipments Regulation, introduced as part of the European Union’s Green Deal and Circular Economy Action Plan. The regulation strengthens oversight of waste transportation, covering both exports and imports between EU…

The Democratic Republic of Congo, the world’s leading cobalt producer, has temporarily banned cobalt exports starting February 22 for a minimum of four months. According to ARECOMS (Authority for the Regulation and Control of Strategic Mineral Substances Markets), the decision stems from officials’ concerns about market oversupply. The DRC is the leading producer of cobalt, accounting for about 77% of global production, estimated at 300,000 tons by Fastmarkets. A surplus of 27,000 tons in the refined market has resulted in persistent oversupply. This imbalance has caused standard-grade cobalt metal prices to plummet to their lowest levels in eight years. The…

Vietnam’s Ministry of Industry and Trade (MoIT) has enforced provisional anti-dumping duties on Chinese hot rolled coil (HRC) imports. The temporary duties range from 19.38% to 27.83%, aimed at what the ministry considers unfairly priced steel products from China. The U.S. has decided to impose temporary anti-dumping duties on hot-rolled carbon steel imports from China, while exempting similar imports from India due to their minimal market share. Chinese steel products under investigation will face the newly imposed tariffs beginning 15 days after the formal declaration. These provisional anti-dumping duties will remain in effect for a 120-day period during the investigation.…

Kurdistan and Iraq Authorities have come to an agreement with Iraq’s federal oil ministry to resume oil exports, signifying a crucial move towards settling a prolonged oil dispute. Iraq has recommenced receiving oil exports from Kurdistan through Turkey’s Ceyhan port, beginning with a daily volume of 185,000 barrels, as confirmed today by Undersecretary of the Oil Ministry for Extraction Affairs, Basem Mohammed Khudair. The ministry aims to gradually increase the export volume to 400,000 barrels per day, in line with the requirements set forth in the Federal Budget Law. Following a visit by an Iraqi Oil Ministry delegation to Erbil,…