Digital tools are reshaping international trade, enabling Nigerian businesses to compete globally. As Nigeria diversifies away from oil reliance, non-oil exports, including agricultural products, textiles, and finished goods, are emerging as key growth sectors. For small and medium enterprises (SMEs), which form a large part of Nigeria’s economy, digital tools are increasingly essential for navigating the complexities of international trade. Historically, Nigerian SMEs faced challenges such as high transaction costs, limited market access, weak infrastructure, and regulatory hurdles, which restricted their participation in export trade. Today, digital solutions are changing that. Businesses in Lagos, for example, can reach customers in…

Global trade grew at its fastest pace in more than a decade during the first half of 2025, driven largely by the Asia Pacific region, according to DHL’s latest Global Connectedness Tracker. Developed in partnership with New York University’s Stern School of Business, the report offers an early and detailed assessment of how trade and investment are adjusting to changing U.S. policies and global market conditions. The Tracker found that six of the ten fastest-growing trade routes originated from Asian economies, underscoring the region’s growing influence in global supply chains. Among the world’s 50 largest trading nations, Hong Kong SAR,…

U.S. President Donald Trump and Australian Prime Minister Anthony Albanese have signed a major critical minerals pact to strengthen cooperation. This deal marks Washington’s efforts to reduce reliance on China’s near-monopoly over global supply chains. The agreement was finalized on Monday during Albanese’s visit to the White House after months of negotiation. Under the agreement, the United States and Australia will jointly invest more than $3 billion over the next six months in critical mineral projects. It includes the construction of an advanced gallium refinery in Western Australia capable of producing 100 metric tons per year. The recoverable resources from…

A Dutch semiconductor manufacturer, Nexperia, has become the unexpected flashpoint in an escalating trade dispute between the United States and China, raising alarms across the global automotive sector. The conflict threatens to stall vehicle production worldwide and drive car prices even higher. Nexperia, a key supplier of transistors, diodes, and other automotive semiconductors, produces chips essential for functions ranging from fuel injection and braking systems to power seats and lighting. Without these components, vehicle assembly lines could come to a halt. The company ships more than 110 billion products annually and employs about 12,500 people across Europe, Asia, and the…

A massive fire at the cargo complex of Dhaka’s Hazrat Shahjalal International Airport has caused severe damage to Bangladesh’s garment export sector during the peak shipping season. The blaze, which broke out on Saturday afternoon in the cargo import area, destroyed large quantities of raw materials, finished apparel, and product samples awaiting shipment. Faisal Samad, director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), described the aftermath as “devastating,” estimating total losses could reach $1 billion. “The entire import section has been reduced to ashes,” he said after inspecting the site. Smoke continued to billow from the ruins on…

Tanzania has reinforced its global agricultural reputation by becoming the world’s second-largest pigeon pea producer. The output is expected to exceed 400,000 tons during the 2024/2025 farming season, according to the Cereals and Other Produce Regulatory Authority (COPRA). This achievement places the East African nation just behind India in global production, highlighting its growing importance in the international pulse market. In the previous season, Tanzania exported around 350,000 tons of pigeon peas to India, its largest overseas market, demonstrating resilience despite subdued global prices. Tanzanian farmers continue to benefit from strong export volumes, driven by sustained demand from India’s food…

Algeria has set an ambitious target to raise the value of its non-hydrocarbon exports to $5 billion by the end of 2025, a move aimed at diversifying the economy and reducing reliance on oil and gas revenues. The announcement was made by Abdelatif El-Houari, Acting Director of Export Support Mechanisms at the Ministry of Foreign Trade and Export Promotion. Speaking on national radio, El-Houari attributed the export growth to a surge in international trade agreements, particularly those signed at global exhibitions and trade fairs. Over the course of 2025, Algeria has secured more than 80 international commercial contracts through active…

Turkish Airlines continues to reinforce its leadership in African aviation, operating the largest flight network outside the continent and serving as a crucial bridge between Africa and global markets. At the 5th Turkey-Africa Economic and Business Forum, Türkiye’s Minister of Transport and Infrastructure highlighted the growing depth of Türkiye’s relationship with Africa and its remarkable success in civil aviation. He noted that Turkish Airlines (THY) now operates to the second-largest number of African countries and destinations, following Ethiopian Airlines. Emphasizing Türkiye’s strategic approach based on the principle of ‘African Solutions to African Problems,’ the Minister underscored that such cooperation in…

International Monetary Fund (IMF) Managing Director Kristalina Georgieva has cautioned that the rising use of tariffs by major economies could undermine global trade and slow growth in emerging markets such as India. She emphasized that maintaining open and fair trade is essential for sustained global progress and long-term economic stability. Georgieva highlighted India as one of the fastest-growing economies in the world, crediting its consistent reform efforts for its strong performance. “India is where it is today because it has pursued very significant reforms, tax reform, investment in infrastructure, both digital and physical, and improved connectivity across the country. That…

China has defended its oil imports from Russia as legitimate and in line with international law, cautioning the United States against imposing unilateral sanctions that could harm Beijing’s interests. The warning came as Chinese Foreign Ministry spokesperson Lin Jian criticized Washington’s actions as “unilateral bullying and economic coercion” that undermine global trade norms and threaten the stability of international supply chains. Speaking at a media briefing in Beijing, Lin reaffirmed China’s neutral stance on the Ukraine conflict, stating that its policy remains “objective, fair, and transparent.” He said Beijing “firmly opposes” the U.S. targeting China over its cooperation with Russia…