Author: Central Bureau

The U.S. Trade Representative (USTR), Katherine Tai, recently negotiated a critical mineral supply chain agreement with Japan, which is essential for the Biden administration’s climate agenda. However, the USTR listed the agreement under a list of Free Trade Agreements (FTAs), even though it does not free or deepen any trade between the two parties. This move has raised concerns about the future stability of U.S. trade policy. The agreement focuses on improving cooperation without altering market access, setting a dangerous precedent by allowing any agreement to be considered an FTA. This practice removes constitutional checks on the White House’s trade…

Trade World growth is expected to slow in 2023, with the World Trade Organization (WTO) predicting a subpar 1.7% increase in merchandise trade volumes. Factors such as the ongoing war in Ukraine, high inflation, tighter monetary policy, and financial uncertainty contribute to this outlook. Despite the downturn in trade volumes in Q4 of 2022, goods trade remained resilient for most of the year. Green goods, such as electric and hybrid vehicles, non-plastic packaging, and wind turbines, experienced significant growth in trade. WTO Director-General Ngozi Okonjo-Iweala emphasized the need for governments to avoid trade fragmentation and obstacles, and encouraged investment in…

New Delhi: UK Investment Minister Lord Jo Johnson has arrived in India to prioritize collaboration in the technology and life sciences sectors, while also promoting the Global Investment Summit 2023 and strengthening trade negotiations between the two nations. The visit coincides with the ninth round of negotiations between officials working on the UK-India Free Trade Agreement (FTA). Joined by a delegation of UK business leaders, Lord Jo Johnson will engage in high-level discussions with Indian officials and entrepreneurs, focusing on collaboration, investment, and innovation in the technology and life sciences sectors. After arriving in Bengaluru, Johnson is set to visit…

Tensions between the US and China are causing a decline in container shipments between the world’s two largest economies, exacerbating an ongoing shift in global trade, says a prominent shipping industry leader. Jeremy Nixon, CEO of Ocean Network Express, remarked at the Capital Link Singapore Maritime Forum that trade between the US and China is decreasing. Many American companies are now seeking to reduce their reliance on imports from China. Nixon, whose company ranks among the top 10 container shippers, stated that the percentage of containers carrying a wide range of goods from China to the US has dropped by…

Iotechworld Avigation’s Agribot, India’s first government-approved agricultural drone, revolutionizes farming with its ability to spray liquids and broadcast seed granules over farmland. The company, a leader in drone technology, plans to sell 3,000 of these efficient and yield-boosting agricultural drones in both domestic and international markets by the end of the year. The agricultural drones from Iotechworld Avigation have advanced features such as precision spraying, plant counting, mapping, and crop monitoring. These help farmers make informed decisions about their crops and boost their productivity. The drones also have high-resolution cameras that capture detailed images of crops, allowing farmers to quickly…

Dubai: Chery’s 2023 Global Dealer Conference, held on April 22, revealed the company’s ambitious ‘New Track, New Journey’ initiative, focusing on four major transformation measures: technology, products, consumer demand, and ecosystem. These measures aim to propel Chery into new markets and bolster their reputation as a leading Chinese automotive brand. China’s ‘Made in China 2025’ strategy has spurred increased attention on industry and manufacturing, with the nation dominating as the world’s largest manufacturing country for 12 consecutive years. Chery has contributed significantly to this success, selling 11.2 million units globally and becoming the first exporter of Chinese passenger vehicles for…

The International Apparel and Textile Fair (IATF), which is one of the leading trade fairs for the apparel and textile industry, has announced the dates for its upcoming exhibition. The 15th edition will be held from May 1st to May 3rd, 2023, at the Dubai World Trade Centre. The IATF is an ideal platform for exhibitors from all over the world to showcase their products and services, exchange ideas, and establish business connections with the buyers from the Middle East and North Africa (MENA) region. The fair has been running for several years and has become a major event for…