Author: News Desk

Indonesia plans to establish a new state-owned enterprise (SOE) for the textile and garment sector to strengthen the industry against external pressures such as U.S. tariff risks and the surge of Chinese textile imports in recent years. Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartarto, stated that the firm will be overseen by Danantara, the nation’s investment and sovereign wealth manager, and will receive an initial funding allocation of up to $6 billion. The fund will be allotted for acquiring capital equipment, implementing new technologies, and supporting initiatives to expand exports. Airlangga noted that the government has laid out a…

The EU has launched a new digital certification system for seafood imports, strengthening traceability rules for fishery products entering the bloc and urging exporting nations to upgrade their own export frameworks. The digital certification system for fishery products entering the European Union took effect on 10 January, replacing the former paper-based verification process. The European Commission declared on Monday that the new system, called CATCH, is designed to standardize seafood import inspections across the EU by simplifying coordination between traders and regulatory bodies. The system aims to ensure compliance with EU regulations by ensuring that imported fishery products are legally…

China recorded its largest-ever trade surplus last year, reaching nearly $1.2 trillion, according to a report by NBC, citing data released on Wednesday. China’s goods trade reached 45.47 trillion yuan ($6.51 trillion) last year, a 3.8% increase from 2023, as per data from the General Administration of Customs. Exports accounted for 26.99 trillion yuan ($3.8 trillion), while imports totaled 18.48 trillion yuan ($2.6 trillion). Compared with the previous year, exports rose 6.1%, and imports edged up 0.5%. Export growth to emerging markets, including Latin America, the Middle East, and Africa, outpaced the overall export growth rate, according to Wang Jun,…

Bilateral trade between Cambodia and Thailand reached roughly $3.6 billion last year, a decline of less than 15% from $4.2 billion in 2024, indicating that the prolonged border conflict had only a limited impact on overall trade. According to Trade Balance Statistics from the General Department of Customs and Excise (GDCE) released Friday, Cambodia exported approximately $732 million in goods to Thailand last year, down 14.1% from $853 million in 2024. Meanwhile, imports from Thailand totaled around $2.92 billion, a 15% decrease from $3.44 billion the previous year. Cambodia’s exports to Thailand dropped by roughly $121 million compared to the…

India and the EU are finalizing a long-delayed free trade agreement, which could substantially increase India’s exports to the 27-member bloc and enhance economic cooperation. Once signed, the India-EU FTA will become India’s 19th trade pact and one of its most significant, as the EU is India’s largest goods trading partner. The deal is expected to aid Indian exporters in diversifying markets amid rising U.S. tariffs and global geopolitical tensions. The agreement has gained urgency as U.S. tariffs of up to 50% disrupt global trade. For India, the FTA provides a strategic means to diversify exports, reduce reliance on China,…

U.S. President Donald Trump, on Monday, declared that Washington will enforce a 25% tariff on nations trading with Iran, citing Tehran’s violent suppression of mass protests. “Effective immediately, any country doing business with the Islamic Republic of Iran will pay a tariff of 25% on any and all business being done with the United States of America,” Trump wrote on Truth Social. “This order is final and conclusive,” he added. The White House refused to provide further details on the tariff or how the Trump administration intends to enforce it. India and China are expected to be hit hardest as…

South Korea is targeting a record $16 billion in exports of food and agricultural products this year, the agriculture minister declared Monday, highlighting the sector’s emergence as a key export growth factor. “Despite an unfavorable trade environment, such as tariff and non-tariff measures, Korea achieved an all-time high in exports in the ‘K-Food Plus’ sector last year, thanks to the popularity of Korean food,” Agriculture Minister Song Mi-ryung said. If achieved, the target would represent a 17.5% year-on-year increase from $13.62 billion in 2025, the highest export total ever recorded for the nation’s farm and food sector. Song noted that…

U.S. President Donald Trump on Sunday called on Cuba to strike a deal or face repercussions, cautioning that the supply of Venezuelan oil and funds to Havana would be halted. Venezuela has long been Cuba’s largest oil provider, but under a tight U.S. blockade, no Venezuelan oil shipments have reached the Caribbean nation since U.S. forces captured President Nicolás Maduro earlier this month. Trump has since increased his focus on Cuba after the seizure of Maduro in a January 3 operation in Caracas. Cuba has been receiving roughly 35,000 barrels of Venezuelan oil per day, making the potential cutoff a…

Russia’s parallel imports of Western products dropped nearly 50% in 2025, as authorities tightened oversight on supply channels used to bypass sanctions. Russia’s Industry and Trade Minister, Anton Alikhanov, reported that from January to November, the country imported $20.9 billion worth of goods through parallel-import schemes, a 45% decline from $37.9 billion during the same period the previous year. Monthly volumes have fallen to around $2 billion, compared with roughly $4 billion when the program began. Russia launched parallel imports in 2022 to permit the import of goods without the approval of trademark owners. The government has now extended the…

The U.S. Commerce Department stated on Friday that it has withdrawn proposed restrictions on Chinese drones over national security concerns. Last month, the U.S. Federal Communications Commission blocked the import of new foreign-made drone models and key components, including those from China’s DJI and Autel, citing national security concerns. This week, the FCC declared that certain non-Chinese drones would be exempt from these restrictions. The Commerce Department announced plans to introduce the rules in September, restricting imports of Chinese drones to address information and communication technology supply chain concerns. The proposal was forwarded to the White House for review on…