Author: Editorial Desk

Filipino exporters are expected to strengthen their position in global markets with the introduction of two digital platforms aimed at improving trade compliance and expanding international buyer access. The Origin Management System (OMS) and PHX Source will be launched at the National Export Congress (NEC) on December 4, 2025, at the EDSA Shangri-La Hotel. The OMS is a web-based system that digitizes the processing and issuance of the Product Evaluation Report (PER), a key requirement for exporters seeking preferential tariff rates under the Philippines’ free trade agreements and Generalized System of Preferences schemes. The platform, developed in partnership with the…

Korean authorities have secured the official use of the term ‘kimchi cabbage’ in the global Codex food standard, allowing foreign retailers to list it as the primary ingredient in kimchi instead of ‘Chinese cabbage.’ The update allows Korea to better protect kimchi’s identity in global markets and in future food-origin disputes. The Ministry of Food and Drug Safety, the Ministry of Agriculture, Food and Rural Affairs, and the Ministry of Oceans and Fisheries said on the 17th that ‘kimchi cabbage’ was added to the international kimchi standard. The incident took place during the 48th Codex Alimentarius Commission (CODEX) session held…

The State Bank of Vietnam is considering raising the end-of-day gold position limit for approved lenders from 2% to 5% of their charter capital. The proposed change is intended to give banks greater flexibility in supplying gold to the domestic market and help narrow the persistent gap between local and international prices. The plan appears in a draft circular that would replace Circular No 38/2012 on gold positions held by credit institutions. Under the draft, banks authorized to produce, import, and export gold bullion and raw gold would be allowed to maintain daily gold positions of up to 5% of…

The U.S. and South Korea have released the terms of a wide-ranging trade agreement involving major Korean investments in U.S. industries, tariff reductions, and new cooperation across defence, technology, and energy. The deal centers on a planned $150bn Korean investment in U.S. shipbuilding and a further $200bn in strategic funding for key industrial sectors. The announcement follows the October meeting between South Korean President Lee Jae Myung and U.S. President Donald Trump, during which both sides agreed to bring U.S. import tariffs on Korean products down to 15% from 25%. South Korea had been concerned about steep duties on major…

Alibaba is preparing a blockchain-based overhaul of global B2B payments that could alter how international trade is settled in the coming years. The company plans to introduce a tokenized payment network by December, designed to speed up cross-border transactions that are still burdened by slow processing, high charges, and multi-currency complications. Executives from Alibaba said the settlement system will be built around tokenized versions of the U.S. dollar and the euro. These digital units are expected to operate much like stablecoins while remaining fully backed by bank deposits. The aim is to create a payment method that moves across borders…

The World Bulk Wine Exhibition will return to the RAI Amsterdam convention center on November 24 and 25 for its 17th edition, bringing together more than 240 exhibitors and industry representatives from over 60 countries. Organized by Vinexposium, the event remains the largest international meeting point for the bulk wine and spirits sector. Spain is set to maintain its central role. The country continues to lead global bulk wine exports, accounting for almost 40% of worldwide volume. During the first half of 2025, Spanish producers shipped six million hectolitres of bulk wine worth 302 million euros. Higher prices, up 12%…

COSCO SHIPPING has completed the handling and dispatch of the first batch of special exhibits from New Zealand and South Pacific Island nations for the 8th China International Import Expo (CIIE). The container vessel M.V. COSCO FELIXSTOWE departed fully loaded from Auckland on 20 September and is expected to arrive at Shanghai Waigaoqiao Port in mid-October. The 8th CIIE will take place in Shanghai from 5 to 10 November. As the officially recommended international logistics provider for CIIE for eight consecutive years, COSCO SHIPPING Lines oversaw the end-to-end movement of the shipment, following its service principle of “We Deliver Value.”…

The United States described ongoing trade discussions with Switzerland as ‘very positive’ and ‘focused,’ signalling potential movement on the steep tariffs imposed by President Donald Trump earlier this year. Swiss Vice President Guy Parmelin’s latest visit to Washington marks his third trip since the United States slapped a 39% duty on Swiss imports in August, one of the highest rates in Trump’s global tariff campaign. The increase stunned Bern and has weighed heavily on Switzerland’s export-driven economy. During his visit, Parmelin met U.S. Trade Representative Jamieson Greer as the Swiss government continues pushing for relief. A senior Trump administration official…

World Trade Organization (WTO) Director General Ngozi Okonjo-Iweala on Friday called on India to take a leading role in driving reforms at the WTO, warning that the global trading system must remain rules-based rather than drift toward a power-based order. Speaking at the inaugural session of the 30th CII Partnership Summit 2025 in Visakhapatnam, she said the world is undergoing major shifts in trade and that India is well-positioned to benefit from them. “India should be a leader in the reform process at the WTO. India should be a leader, making sure that we do not stay in a system…

The Union Cabinet has approved a major Export Promotion Mission (EPM) worth ₹25,060 crore to strengthen India’s export capabilities at a time of global trade uncertainty and higher tariffs on Indian goods. The initiative comes as Indian exports to the United States face a 50% duty, placing pressure on several key sectors. The EPM will operate from FY 2025-26 to FY 2030-31 and will unify multiple export-support schemes under a single, streamlined framework. The mission aims to modernize India’s export strategy by consolidating schemes such as the Interest Equalization Scheme and the Market Access Initiative. The unified approach is expected…