Author: Editorial Desk

Export goals under the Philippine Export Development Plan (PEDP) have been revised downward to reflect mounting global trade uncertainties, a senior Trade Department official said on Thursday. Bianca Pearl Sykimte, director of the Export Marketing Bureau and executive director of the Export Development Council, confirmed that the 2025 target had been reduced to a range of $110.8 billion to $113.4 billion, down sharply from the previous target of $163.6 billion. Targets for 2027 to 2028 were also lowered. Export goals were revised to $116.1–$120.2 billion for 2027, $123.3–$127.4 billion for 2028, and $132.8–$135.1 billion for 2029. These were previously set…

South Korea’s annual exports are on track to exceed $700 billion for the first time, marking a historic milestone driven by strong demand for semiconductors and ships, according to a new outlook from the Korea International Trade Association (KITA). The 2025 Export-Import Evaluation and 2026 Outlook, released on Dec. 5 by KITA’s International Trade & Business Institute, estimates that total exports for 2024 will reach $704 billion, a 3% rise from last year. This would mark the highest export performance in the country’s history. The trade surplus is projected to hit $74 billion. Semiconductors and shipbuilding provided the strongest lift.…

Global trade and economic growth are expected to weaken as geopolitical instability and financial pressures intensify, according to the latest annual assessment from the UN Conference on Trade and Development (UNCTAD). The report, released on December 2, shows global trade rose by about 4% early this year, supported by firms accelerating imports ahead of expected tariff hikes, rising investment in AI, and stronger flows between developing economies. When stripping out these temporary factors, underlying trade growth is estimated at just 2.5 to 3% and is projected to soften further. UNCTAD expects global economic growth to slow to 2.6% in 2025,…

Two Australian leaf-tailed geckos that have become lucrative targets in the exotic pet market have been granted new international protections at a UN wildlife conference. The ringed thin-tailed gecko and the Mount Elliot leaf-tailed gecko, both endemic to Australia’s east coast, remain in demand on digital marketplaces and at pet trade shows despite Australia’s strict ban on exporting geckos or any native wildlife for commercial use. Their rarity and limited distribution continue to drive illegal trade. To regulate this trade and slow population decline, delegates at the 20th Conference of the Parties (CoP20) to the Convention on International Trade in…

The Office of the United States Trade Representative has extended tariff exclusions for 178 products imported from China, citing the ‘historic trade and economic deal’ reached between President Donald J. Trump and Chinese President Xi Jinping in early November. In a statement posted on the agency’s website, USTR official Jennifer Thornton said the exclusions, which were due to expire on 29 November 2025, will now remain in place until 10 November 2026. The products fall under the Section 301 tariff program targeting Chinese imports. Among the items covered are shredder hammers and other wear parts used in metal shredding and…

Russian President Vladimir Putin’s visit to India this week is aimed at securing energy supplies and stabilizing defence deliveries. The trip also seeks to ensure bilateral trade continues without disruption despite strong Western sanctions, the Global Trade Research Initiative (GTRI) said on Tuesday. Putin will arrive in New Delhi on December 4 for the 23rd India–Russia Annual Summit. GTRI co-founder Ajay Srivastava described the trip as a high-stakes working visit driven by the need to protect India’s energy access, maintain defence supply lines, and keep trade functioning under sanctions pressure. He noted that India’s engagement with Russia continues to rest…

Nearly one-fifth of global imports are now affected by tariffs and related trade restrictions as protectionist measures surge across major economies, the World Trade Organization (WTO) announced on Tuesday. According to the WTO’s latest annual review, imports worth $2.64 trillion, representing 11.1% of world imports, were impacted by tariffs and other restrictive measures introduced between mid-October 2024 and 2025. This is more than four times the $611 billion recorded in the previous assessment. When similar measures on exports are included, the total trade affected rises to $2.97 trillion, compared with $888 billion in the prior period. The escalation reflects a…

Vietnam considers its fast-deepening economic partnership with Thailand a leading example of effective bilateral cooperation within ASEAN, a senior diplomat said at Thailand’s ninth Trade Policy Review in Geneva on December 1. Ambassador Mai Phan Dung, Vietnam’s Permanent Representative to the UN, WTO, and other international organizations, described economic ties between the two countries as one of the region’s most successful models. He said strong political trust and active trade flows have shown how regional collaboration can drive shared prosperity. Vietnam aims to further expand cooperation with Thailand by making full use of existing free trade agreements and regional frameworks…

Portuguese footwear industry strengthened its recovery in September, consolidating the positive cycle seen throughout 2025. Between January and September, the country exported 53.3 million pairs of shoes worth 1.32 billion euros, rising 3.8% in volume and 2.1% in value compared with the same period last year. The figures underscore the sector’s resilience and competitiveness in a challenging global environment. Strong gains were recorded across several segments during the nine-month period. Safety footwear exports rose 17% in value, children’s footwear increased 6%, and textile footwear jumped 18.8%. Leather footwear, which accounts for the bulk of Portugal’s exports, maintained a stable value…

The Saudi Export Development Authority organized a trade mission to Syria on 1 December, bringing together more than 65 Saudi companies from the goods, services, and export and re-export house sectors. The two-day mission in Damascus included representatives from several Saudi government entities, among them the Ministry of Investment, the Saudi Standards, Metrology and Quality Organization, the Saudi Food and Drug Authority, and the Saudi Export-Import Bank. Syria’s Ministry of Economy joined the meetings, supported by financial institutions such as the Saudi French Bank and Al Baraka Bank Syria. The mission reflects Saudi Exports’ ongoing effort to expand trade opportunities…