Author: News Desk

The Nigerian government seeks the removal of Chinese trade tariffs, similar to those removed for 33 other African nations. The request aims to strengthen economic collaboration and promote commerce in sectors vital to Nigeria’s development objectives. During a courtesy visit by the Chinese Ambassador Yu Dunhai to Nigeria, Ambassador Bianca Odumegwu-Ojukwu, the Minister of State for Foreign Affairs, made the appeal at her office in Abuja. The statement, signed and released by the minister’s media aide, Magnus Eze, on Thursday, conveyed Odumegwu-Ojukwu’s remarks. She highlighted Nigeria’s over five-decade-long relationship with China and emphasized that the current administration under President Bola…

Vietnam Industry and Trade Minister, Nguyen Hong Dien met with representatives from the People’s Committee of Binh Dinh province and Swedish textile group Syre to discuss a proposed high-tech fabric production complex. During the discussion, Syre Group outlined their proposal to establish a polyester fiber recycling complex in Binh Dinh province, with investment ranging from $700 million to potentially $1 billion. Syre Group, a Swedish company specializing in large-scale textile-to-textile recycling, will employ advanced technology for the polyester fiber recycling project, ensuring highest environmental protection standards that complies with Vietnam regulations. According to the proposal, the facility would annually transform…

Turkey has begun exporting around 15,000 tons of eggs to the United States due to the outbreak of bird flu.  This egg export addresses shortages caused by Highly Pathogenic Avian Influenza (HPAI), which disrupted supply chains and increased prices. Ibrahim Afyon, Chairman of the Egg Producers Central Union (YUM-BIR) in Turkey, told Reuters that the shipments started this month and will continue until July. “The export will take place through our member companies with the required authorizations, while two firms will coordinate the process,” Afyon said. “A total of 15,000 tons of eggs – equivalent to 700 containers – will…

EU ambassadors convened on Wednesday and agreed the 16th set of sanctions against Russia, as revealed by EU diplomats. The new measures include banning Russian primary aluminum imports, prohibiting the sale of gaming consoles to Russia, and blacklisting 73 vessels connected to the ‘shadow fleet.’ The EU further seeks to limit Russia’s oil export capabilities and revenue streams by targeting these 73 vessels. The ban on primary aluminum imports impacts key Russian export sectors, while the prohibition on gaming console sales affects Russian consumers. The latest sanctions from the EU are part of ongoing efforts to restrain Russia’s actions over…

Thailand’s Ambassador to Pakistan, Rongvudhi Virabutr, has urged the swift finalization of the Free Trade Agreement (FTA) between Thailand and Pakistan. He called on the Karachi Chamber of Commerce & Industry (KCCI) to press the government to conclude the agreement promptly to improve trade relations between the two countries. As per the KCCI statement, the ambassador expressed his goal to elevate the Thailand-Pakistan trade volume from its present $1.1 billion to $2 billion. He highlighted that trade between the two countries had previously peaked at $1.8 billion before the Covid-19 pandemic, indicating that reaching the $2 billion target is feasible…

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Ukraine President Volodymyr Zelenskyy of Ukraine attended the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Ukraine. This newly established partnership is designed to create fresh opportunities for commercial exchange, capital flows, and economic collaboration between the two countries. Sheikh Mohamed bin Zayed Al Nahyan emphasized how CEPA serves to reinforce the strategic relationship between the UAE and Ukraine, while promoting trade growth and economic ties that align with both nations’ development goals. Sheikh Mohamed conveyed his strong belief that this partnership would serve as a key…

The business sectors of Cambodia and Australia solidified their partnership by signing three memorandums of understanding (MoU) yesterday, to promote and facilitate the export of Cambodian products to the Australian market. The collaboration agreement was signed in Sydney, Australia, with Cham Nimul, the Minister of Commerce. Officials from Australia’s Department of Foreign Affairs and Trade, as well as representatives from Cambodian and Australian companies, were also present at the event. In a statement released after the signing ceremony, the ministry announced that these memorandums of understanding are designed to promote and ease the export of Cambodian products, including rice and…

On Friday, U.S. President Donald Trump declared plans to implement tariffs on imported automobiles around April 2. These auto import tariffs could potentially affect automakers from Japan, Germany, and South Korea. It remains unclear whether the auto tariffs are part of administration’s wider strategy for import tax increases in reaction to foreign tariffs on U.S. goods. “I would have done them on April 1. I’m a little superstitious,” Trump Stated. “That costs a lot of money, just that one day, but we’re going to do it on April 2, I think.” The Commerce Secretary nominee Howard Lutnick indicated potential tariffs…

Vietnam and Thailand strengthen industrial trade ties at the Industrial Exchange Event in Ho Chi Minh City on February 13. Organized by the Thai Trade Office, the event is part of the Department of International Trade Promotion’s (DITP) efforts under the Ministry of Commerce to broaden the export of industrial products to Southeast Asian nations. The meet facilitated the participation of 20 Thai companies specializing in medical supplies, electronics, automotive parts, and machining equipment with more than 100 Vietnamese firms. Key industry voices, including members from the Saigon Construction & Building Material Association (SACA), the Ho Chi Minh City Association…

The Turkish Ministry has said that the Nation seeks to pursue a $10 billion trade agreement with Indonesia. Turkish President Recep Tayyip Erdogan conveyed his intention to Indonesian President Prabowo Subianto for increased bilateral trade, emphasizing the need for fairness and equity for both countries. On Wednesday, Turkish Trade Minister Omer Bolat announced that Türkiye and Indonesia have signed a memorandum of understanding to strengthen their bilateral trade cooperation. Erdogan returned to Indonesia after his 2022 visit, meeting with President Prabowo at Bogor Palace to discuss trade. During his visit, a memorandum of understanding was signed to strengthen bilateral trade…