Author: News Desk

Nigeria and China are set to deepen their economic ties with the upcoming 2025 edition of the China Commodities Expo-Nigeria (CCE). The expo is organized by the Trade Development Bureau of China’s Ministry of Commerce and Brightway International Exhibition, with support from multiple Chinese provincial governments and the Chinese Embassy in Nigeria. The annual trade fair is scheduled to take place from November 5 to 7 in Victoria Island, Lagos. The expo will bring together importers, exporters, entrepreneurs, investors, and policymakers to forge new business connections, attract foreign direct investment, and spur job creation. The expo has emerged as a…

Egyptian Foreign Minister Badr Abdelatty on Friday encouraged Indian businesses to explore investment opportunities across various sectors, including pharmaceuticals, chemicals, and emerging fields such as renewable energy, artificial intelligence, and digitalization. He also expressed Egypt’s strong interest in establishing an Indian industrial zone within the Suez Canal Economic Zone (SCEZ), where countries like China and Russia already have a presence. The minister stated that Egypt and India are aiming to double the bilateral trade by 2028. He noted that the Egyptian government is actively working to enhance the ease of doing business for Indian firms. Abdelatty also mentioned that Egypt…

The Federal Government of Nigeria has denied allegations that it imported grains to lower food prices, explaining that the recent drop in food costs is due to increased domestic production. During a press briefing in Abuja held in honor of the 2025 World Food Day, Minister of State for Agriculture and Food Security, Sabi Abdullahi, made the clarification. He highlighted that the government has intensified agricultural productivity through various ongoing initiatives aimed at enhancing food availability, accessibility, and affordability. Abdullahi added that since the current administration took office, its primary focus has been on reducing food prices by increasing the…

Nigeria is working on a new framework to facilitate the use of national currencies for settling bilateral trade, according to Central Bank Governor Olayemi Cardoso. During a press briefing at the IMF/World Bank Annual Meetings in Washington, D.C., Cardoso noted that although Nigeria had previously attempted local currency trade agreements, the efforts fell short of expectations. He stated that the Central Bank is now adopting a more deliberate and systematic strategy to ensure that future local currency trade deals provide mutual advantages and help lessen reliance on foreign exchange for cross-border transactions. Bilateral currency trade deals—also referred to as local…

South Africa has entered into a new trade agreement with China that, for the first time, permits local growers to export five varieties of stone fruit—apricots, peaches, nectarines, plums, and prunes—to Chinese consumers. The deal was formalized in Shanghai by South African Agriculture Minister John Steenhuisen and Sun Meijun from China’s General Administration of Customs (GACC). This marks the first instance where China granted access to several types of stone fruit from one country under a single trade protocol. Minister Steenhuisen hailed the protocol as a significant milestone for South African fruit growers and exporters, especially as the nation seeks…

President Donald Trump on Tuesday revealed that his administration is considering ending trade ties with China over its refusal to purchase U.S. soybeans and warned of potential restrictions on cooking oil and other imports from the country as a retaliatory measure. In a Truth Social post, Trump accused China of committing an ‘economically hostile act’ by “purposefully not buying soybeans and causing difficulty for soybean farmers.” “We are considering terminating business with China, having to do with cooking oil and other elements of trade as retribution,” he added. Trump said he has been considering ending trade with China involving cooking…

Nigeria’s Federal Government, through the Rural Electrification Agency (REA), has entered into a strategic alliance with Sun King, a leading global off-grid solar firm, aimed at enhancing domestic manufacturing, broadening access to renewable energy, and potentially reducing Nigeria’s solar import costs by as much as $150 million over the next five years. The Memorandum of Understanding, signed at the Nigeria Renewable Energy Innovation Forum in Abuja, was signed in the presence of Vice President Kashim Shettima and Sun King’s co-founder and CEO, Patrick Walsh. “With the right enabling support from REA and wider government, Sun King estimates that its planned…

India and Canada on Monday outlined a new roadmap to strengthen collaboration in key areas such as trade, critical minerals, and energy. The development comes after Canadian Foreign Minister Anita Anand held meetings with Indian Prime Minister Narendra Modi and External Affairs Minister S. Jaishankar to restore bilateral relations that were strained after the killing of a Sikh separatist in 2023. Under the agreement, New Delhi and Ottawa are committed to a series of initiatives, including launching ministerial-level talks on bilateral trade and investment, restarting the India-Canada CEOs Forum in early 2026, reviving the energy partnership, holding discussions on civil…

The Philippine government has removed its ban on poultry imports from New Zealand, marking another rollback in trade restrictions as officials continue to ease measures linked to previous animal disease concerns. The Department of Agriculture (DA) declared on Monday that it has lifted the temporary import ban on domestic and wild birds, as well as related products, from New Zealand. Agriculture Secretary Francisco Tiu Laurel officially removed the ban by signing Memorandum Order (MO) 62 on October 9, replacing MO 1 issued in January due to an outbreak of avian influenza in New Zealand. The new directive also permits the…

South Korean Foreign Minister Cho Hyun on Monday stated that the U.S. has presented a new proposal related to Seoul’s pledged $350 billion investment. He added that South Korea is currently reviewing the revised offer, indicating potential progress in the previously stalled tariff talks. “The $350 billion investment initially proposed by the U.S. included loans and loan guarantees, but it was later revised to consist solely of direct investment,” Cho informed lawmakers during a session of the National Assembly’s Foreign Affairs and Unification Committee. South Korea has offered an unlimited currency swap line in response to the U.S. demand, aiming…