Author: Editorial Desk

The United States has agreed to lower tariffs on Indian exports to 18% under a new trade agreement, down from the effective 50% levy, according to an announcement by U.S. President Donald Trump. In return, India will reduce both tariff and non-tariff barriers on American products to zero. Previously, Indian goods entering the U.S. were subject to a 25% reciprocal tariff along with an additional 25% penalty. Washington had linked the extra levy to India’s continued purchase of Russian crude oil despite U.S. objections following the Russia-Ukraine conflict. The revised tariff structure is expected to make Indian exports more price-competitive…

Speaking at the International Cocoa and Chocolate Forum 2026 in London, he said the government is leveraging AfCFTA to expand market access in the global cocoa market and engaging major trade partners. Nigeria has intensified efforts to reassert itself among the world’s leading cocoa producers, positioning the crop as a catalyst for job creation, export growth, and long-term economic diversification, officials said. Speaking in London at the International Cocoa and Chocolate Forum 2026, Abubakar Kyari, Minister of Agriculture and Food Security, outlined a strategy centered on trade expansion, climate compliance, and value chain development. The forum, themed ‘Reclaiming Value, Shaping…

Türkiye is setting more ambitious targets for defense and aerospace exports after recording the world’s highest export growth rates over the past decade and sharply improving export efficiency, according to a senior official. Haluk Görgün, head of the Presidency of Defense Industries (SSB), said Türkiye has emerged as a key global player in defense and aerospace as escalating wars, proxy conflicts, and hybrid threats reshape the international security landscape. Speaking at the fifth Defense and Aerospace Industry Global Strategies Conference in Antalya, Görgün said the country’s push to build a fully independent defense industry is bringing it closer to its…

Higher export volumes from the Philippines helped drive a recovery in global banana trade during the first nine months of 2025, according to a report by the Food and Agriculture Organization of the United Nations. The UN FAO said the increase in supply marked a noticeable rebound after several years of decline. Colombia and the Philippines recorded double-digit growth in banana exports, adding a combined 900,000 metric tons to global supply. Preliminary estimates indicate that global banana exports, excluding plantain, could rise by 6% in 2025 to more than 20.82 million metric tons. Export trends varied across regions. Central American…

The fourth Eurasia International Trade Exhibition has been postponed to the second half of the Iranian calendar month Farvardin, corresponding to late March or early April, to allow for improved organization and a more comprehensive hosting of the international event. According to an announcement by the Trade Promotion Organization of Iran (TPO), the exhibition was originally scheduled to take place from February 1 to 4 at the Tehran Permanent International Fairgrounds. The postponement was attributed to disruptions in communication networks, logistical challenges, and the approaching holy month of Ramadan, according to reporting by The Caspian Post, citing foreign media. The…

Turkish Trade Minister Omer Bolat has dismissed concerns that a proposed free trade agreement between the European Union and India could cause significant losses for Türkiye in the EU market, rejecting claims that Ankara would lower customs duties toward India. Speaking to Anadolu, Bolat said reports suggesting Türkiye would reduce tariffs due to an EU–India deal were “completely unfounded,” stressing that there is no such plan or agenda. His remarks came as he evaluated the Türkiye–EU Customs Union and the implications of the EU’s negotiations with India. Bolat said efforts to update the Customs Union are longstanding, noting that the…

Canadian Prime Minister Mark Carney on Thursday highlighted a series of new trade and security agreements aimed at diversifying Canada’s international partnerships, while saying he expects the United States to respect Canadian sovereignty amid ongoing bilateral tensions. Carney outlined the agreements during a meeting with provincial and territorial leaders, describing the past six months as a period of renewed momentum for the country. He said Canada had concluded 12 new economic and security accords and urged governments at all levels to capitalize on what he called a rare moment of national unity and ambition. The remarks come against the backdrop…

South Sumatra’s agricultural quarantine authority has certified the export of 8.8 metric tons of robusta coffee from Pagaralam to Sydney, Australia. The move expands Indonesia’s agricultural exports and strengthens access to overseas markets. The shipment was cleared following mandatory quarantine procedures, including physical inspections and laboratory testing, to confirm compliance with Australian import regulations. Sri Endah Ekandari, head of the South Sumatra quarantine agency, said on Thursday that the checks ensured the coffee was free from pests and plant diseases regulated under Australian biosecurity rules. A critical requirement for plantation products entering Australia is certification that consignments are free from…

Egypt is accelerating the auto localization of its automotive industry as part of a wider strategy to strengthen industrial logistics, expand exports, and attract foreign investment, with the government targeting global manufacturers and scaling up production-linked infrastructure. Prime Minister Mostafa Madbouli said the state is prioritizing automotive localization through the National Automotive Industry Development Program, aimed at attracting major international manufacturers. Speaking during a meeting with the ministers of industry, finance, and foreign trade, Madbouli said the initiative seeks to build a strong industrial base capable of meeting domestic demand while supporting export growth, with a particular focus on electric…

Vietnam and the European Union have upgraded their relationship to a comprehensive strategic partnership, the highest level in Vietnam’s diplomatic framework, as both sides adjust trade and investment strategies amid disruptions to global commerce driven by U.S. tariff pressures. The upgrade was announced on Thursday during a visit to Hanoi by European Council President António Costa, placing the EU on the same diplomatic footing as the United States, China, and Russia in Vietnam’s foreign policy hierarchy. “At a moment when the international rules-based order is under threat from multiple sides, we need to stand side by side as reliable and…