The United States and Nigeria took a crucial step to broaden the economic ties by launching working group meetings under the U.S.–Nigeria Commercial and Investment Partnership (CIP). The initiative was inaugurated in Abuja on Tuesday, where senior officials and private sector stakeholders from both countries gathered to promote commercial collaboration and explore new avenues for trade and investment. The Commercial and Investment Partnership was established through a five-year Memorandum of Understanding signed by U.S. Commerce Secretary Gina Raimondo and Nigerian Minister Dr. Jumoke Oduwole in July 2024. The CIP aims to strengthen bilateral relations by tackling sector-specific challenges and promoting…

The Vietnam Association of Seafood Exporters and Producers (VASEP) on Monday reported that the U.S. Department of Commerce (DOC) had issued the final findings of its 20th administrative review (POR20) concerning anti-dumping duties on frozen pangasius fillets exported from Vietnam to the United States. The review covers shipments made between August 1, 2022, and July 31, 2023. The review determined that seven Vietnamese companies have qualified for a 0% anti-dumping duty, an increase of six companies from the previous review (POR19). These include Bien Dong Seafood Company Limited and its affiliate Bien Dong Hau Giang Seafood JSC, along with Can…

Thailand has introduced travel restrictions for those entering Cambodia amid ongoing tensions over a prolonged border dispute between the two nations. Thailand began enforcing land border restrictions on Monday, including a ban on tourists entering Cambodia, as part of the ongoing conflict between the nations. On Monday, Prime Minister Paetongtarn Shinawatra declared that Thailand would intensify screenings at land borders and restrict outbound travel for tourists. She clarified that only students, individuals seeking medical care, and those needing to buy essential supplies would be permitted to cross the border. While the primary goal of the measure is to curb travel…

Malaysia has entered into a free trade agreement with the member states of the European Free Trade Association (EFTA), fostering economic collaboration and investment ties with Switzerland, Norway, Iceland, and Liechtenstein. The Malaysia-EFTA Economic Partnership Agreement (MEEPA) was officially signed on Monday in Tromsø, Norway, by Malaysia’s Minister of Investment, Trade and Industry, Tengku Zafrul, together with Norway’s Minister of Trade and Industry, Cecilie Terese Myrseth; Iceland’s Minister of Finance and Economic Affairs, Daði Már Kristófersson; Liechtenstein’s Deputy Prime Minister and Minister of Foreign Affairs, Environment and Culture, Sabine Monauni; and Switzerland’s Vice President and Federal Councillor, Guy Parmelin. Minister…

The International Monetary Fund (IMF) has approved a major revision to Pakistan’s car import regulations, allowing the import of vehicles up to five years old, marking a shift from the previous cap, which restricted imports of cars no older than three years. The updated policy is scheduled to take effect in September 2025. During a briefing to the Senate Standing Committee on Finance, the Ministry of Commerce declared the update, clarifying that it covers imports of both personal and commercial vehicles. To curb over-importation, the government also plans to impose an extra 40% duty on cars that are five years…

Canada will implement new trade measures to address the oversupply of steel and aluminum imports and will revise tariffs on U.S. goods as global trade policies continue to fuel industrial disputes. Prime Minister Mark Carney declared on Thursday that Canada plans to ‘adjust’ its 25% retaliatory tariffs on U.S. steel and aluminum, depending on the outcome of trade discussions with Washington by July 21. As part of its anti-dumping strategy, Canada will also impose new tariffs on any steel imports exceeding 2024 levels from nations without a free trade agreement (FTA). These steps follow U.S. President Donald Trump’s controversial decision…

South Africa’s Department of Agriculture has partially relaxed its ban on poultry imports from Brazil to ease the growing concerns over food shortages and rising prices caused by the earlier suspension. Agriculture Minister John Steenhuisen confirmed the partial lifting of the ban on poultry and poultry product imports from Brazil starting Thursday following the effective containment of the avian influenza outbreak in Brazil. In May, South Africa implemented a ban on poultry imports from Brazil after an avian flu outbreak was reported in the Rio Grande do Sul region. The decision sparked concern among local producers, with major industry leaders…

The Dangote Refinery, the largest crude processing plant in Africa, is preparing to ship its first gasoline cargo beyond the continent, with a vessel reportedly bound for Asia, a source told Reuters on Wednesday. The 90,000-metric-ton cargo is scheduled to be loaded on June 22 by Swiss oil trading firm Mercuria Energy Group. According to the source, this marks the refinery’s first gasoline export outside West Africa since it launched commercial fuel production. Launched in 2024 with a capacity of 650,000 barrels per day, the refinery has concentrated its exports within West Africa. Its latest move suggests a broader ambition…

The Dhaka Chamber of Commerce and Industry (DCCI) has stressed the need for a Preferential Trade Agreement (PTA) between Bangladesh and Sri Lanka, highlighting it as a key step toward boosting trade and investment ties between the nations. The chamber emphasized that Sri Lanka’s strengths in the maritime economy, deep-sea fishing, and port management could significantly contribute to Bangladesh’s capabilities in these vital areas through technical collaboration. DCCI shared the insight during a business dialogue with the Ceylon Chamber of Commerce in Sri Lanka on Tuesday, held as part of a delegation visit by DCCI representatives, according to an official…

Brussels has outlined further details on its plan to ban Russian gas imports by 2027 as part of efforts to break the European Union’s long-standing reliance on Russian energy—a challenge that has grown more urgent since Moscow’s invasion of Ukraine. During an address in Strasbourg on Tuesday, EU Energy Commissioner Dan Jørgensen presented a comprehensive plan to end fossil fuel imports from Russia by 2027 after receiving approval from the senior leadership team led by Commission President Ursula von der Leyen. The European Commission confirmed that no new Russian gas contracts will be allowed after January 1, 2026, while existing…