Author: News Desk

Kenya and Ethiopia have signed a Simplified Trade Border Regime (STBR) agreement to streamline trading processes and enhance cross-border commerce, particularly for small-scale entrepreneurs. The agreement was signed in Addis Ababa by Kenya’s Cabinet Secretary for Investments, Trade, and Industry, Lee Kinyanjui, and Ethiopia’s Minister for Trade and Regional Integration, Kassahun Gofe. The pact aims to reduce bureaucratic hurdles that have long hindered small-scale and informal traders and is expected to enhance trade flows between the two neighboring countries. Under the STBR, customs procedures will be simplified through a standardized list of permitted goods and clear trade requirements. Moreover, the…

The Philippines will extend the temporary suspension on sugar imports from the current milling season through next year to prioritize domestically produced sugar. On Friday, the Philippines’ Department of Agriculture and the Sugar Regulatory Administration reaffirmed a ban on sugar imports aimed at stabilizing the market. The agencies stated that the suspension of sugar imports will remain in place through the end of the current harvest season, and possibly beyond, to support higher domestic sugar production and prioritize local consumption. Agriculture Secretary Francisco Kiko Tiu Laurel Jr. stated that the policy, initially introduced on October 15, could be extended until…

India has levied a five-year anti-dumping duty on imports of cold-rolled non-oriented electrical steel from China, following investigations that low‑priced Chinese supplies were adversely affecting local steel manufacturers. According to a notification from the Ministry of Finance on Thursday, the duty ranges from $223.8 to $414.9 per ton, depending on the specific product and exporter. The decision comes after an extensive investigation conducted by the Directorate General of Trade Remedies (DGTR) under the Customs Tariff Act and the 1995 anti‑dumping regulations. The duty targets cold-rolled non-oriented electrical steel, primarily used in electric motors, transformers, and generators, classified under tariff codes…

The Nigerian federal government has enacted an immediate nationwide ban on the export of wood and related products, cancelling all previously issued licenses and permits. The directive was declared on Wednesday by Environment Minister Balarabe Lawal during the 18th session of the National Council on Environment held in Katsina State. Lawal stated that the directive, issued under the ‘Presidential Executive Order on the Prohibition of Exportation of Wood and Allied Products, 2025,’ was necessary to combat illegal logging and deforestation nationwide. “Nigeria’s forests are central to environmental sustainability, providing clean air and water, supporting livelihoods, conserving biodiversity, and mitigating the…

India and Oman inked a Comprehensive Economic Partnership Agreement (CEPA) on Thursday, granting duty-free access to more than 98% of Indian exports to Oman. India, in turn, has liberalized tariffs on 77.79% of its total tariff lines, covering 94.81% of imports from Oman. Beyond eliminating tariffs on goods, the agreement also offers various concessions aimed at boosting India’s service sector, including provisions for worker mobility. The agreement was signed in Muscat by India’s Commerce and Industry Minister Piyush Goyal and Oman’s Minister of Commerce, Industry, and Investment Promotion, Qais bin Mohammed Al Yousef, in the presence of Indian Prime Minister…

Bangladesh’s garment exports may lose duty-free access to the European Union under the GSP-plus facility following its graduation from LDC status, as the European Commission and Parliament have agreed to revise the GSP starting in 2027. A political agreement to reform the GSP framework was reached on December 1 by the European Commission, the Council of the EU, and the European Parliament. The updated regulations are scheduled to take effect in January 2027 and will remain in place for a period of ten years. A major change involves lowering the product graduation thresholds, a step designed to restrict extended preferential…

Thailand has welcomed over one million visitors from the United Kingdom in 2025, marking the first time since the pandemic, reflecting its growing popularity among international tourists. The Tourism Authority of Thailand (TAT) and its partners celebrated the arrival of the one-millionth UK tourist at Suvarnabhumi Airport. This achievement sets a new record for long-haul visitors, with total international arrivals surpassing 10 million. TAT Governor Thapanee Kiatphaibool highlighted the strength of the long-haul tourism, noting the growth across all regions. “Europe, especially the UK, is a key quality market for Thailand,” he said, adding that the UK consistently ranks among…

Hungary finalized a five-year LNG deal with U.S. energy company Chevron on Tuesday, signaling a move toward Western energy sources. The agreement between Chevron and Hungary’s state-owned utility MVM ensures the delivery of 400 million cubic meters of LNG annually for the next five years, Hungary’s Foreign Minister Péter Szijjártó said in a press conference with U.S. Deputy Energy Secretary James Danly. Szijjártó described the deal as a ‘significant milestone,’ hailing it as a ‘golden age’ of cooperation between Hungary and the United States. The agreement represents a move to broaden Hungary’s Western energy supply, even as it remains the…

China’s Commerce Ministry declared Tuesday that it will levy tariffs of up to 19.8% on pork imports from the European Union, significantly lowering the initially proposed rate of 62.4%. The decision came after China launched an investigation into EU pork imports, following the bloc’s move to impose provisional tariffs on Chinese-made electric vehicles. Starting Wednesday, the tariffs, which vary between 4.9% and 19.8% depending on the company, will be enforced for five years, the Commerce Ministry said. The final tariff rates are much lower than those in the preliminary ruling from September, when EU pork producers faced deposit rates of…

Singapore and China finalized 27 agreements at their annual summit, strengthening collaboration in financial connectivity, green and digital initiatives, and the education sector. The series of memoranda of understanding (MOUs) and agreements—now totaling 27, up from 25 last year—were revealed on Monday during the 21st Joint Council for Bilateral Cooperation (JCBC) meeting. The meeting was jointly led by Singapore’s Deputy Prime Minister Gan Kim Yong and China’s Vice Premier Ding Xuexiang. It represents the top-level bilateral engagement between Singapore and China. A major focus of this year’s meeting was the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI), now marking…