Asia-Pacific partnership set to create new ‘centre of gravity’ for global trade

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A new Asia-Pacific free trade agreement set to enter into force on 1 January 2022 will create the world’s largest trading bloc by economic size, according to an UNCTAD study published this week. The Regional Comprehensive Economic Partnership (RCEP) includes 15 East Asian and Pacific nations of different economic sizes and stages of development. They are Australia, […]

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Record Australia wheat exports seen on bumper crop, strong global demand

A second consecutive record wheat crop, strong global demand, and reduced competition are set to propel Australia’s wheat exports to record volumes, the USDA said in its latest report of world agriculture, making it the third-largest exporter, eclipsing the United States and Canada, which both have smaller crops, tighter stocks, and high prices. After three […]

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Fresh fruit export consignment from Afghanistan reaches India

Despite the Afghanistan and Taliban crisis, it doesn’t seem that there is a barrier when it comes to exporting agricultural produce. After dry fruits and fresh vegetables, now fresh fruits including Sharda (a melon variety), pomegranate, apple and grapes are being imported by India through the Integrated Check Post (ICP) near Attari border. Nearly 70 […]

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China’s trade practices come under fire at WTO

China’s trade policies have come under strong criticism during a review at the World Trade Organization (WTO). The US accused China of “skewing the playing field” by using “unfair trade practices” such as preferential treatment for state businesses. Meanwhile Australia said the country’s behaviour was “inconsistent” with its WTO commitments. WTO reviews are typically quite […]

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International Grains Council raises 2021-22 global grain trade estimate by 5 million tonnes

The International Grains Council (IGC) has raised its estimate for global grain trade by 5 million tonnes to 421 million tonnes for the marketing year 2021-22 in its monthly outlook released Oct. 21, from 416 million tonnes in its September update. The council also raised its global grain output estimate by 1 million tonnes from […]

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India’s FDI to Colombia touches a billion dollars; trade surplus exceeds $ 730 million

Over a decade India’s FDI into Colombia has been around $ 1 billion in manufacturing and services of added value. India is an important trade and investment partner for Colombia. Despite COVID-19, in 2020-21, the total trade balance was $1.731 million. Colombia exported $795 million to India in products like oil and coking coal, wood, […]

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Biden Administration expected to continue expansion of the bilateral ties with India on concerns about China: CRS

The Biden Administration is expected to continue expansion of the bilateral partnership with India and the driving force of the relationship is concern about China’s growing economic and military power in the region, according to a Congressional report. “Many speculate that the Administration would pay more attention to India’s domestic developments, including on human rights, […]

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UK to extend quotas and tariffs on most steel imports

Britain is set to introduce new regulations to help defend its steel industry after accepting a recommendation from its newly established Trade Remedies Authority (TRA) to scrap some quotas on imports. Trade minister Liz Truss said the government only had the option of accepting or rejecting the recommendations in full, which said quotas and tariffs […]

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