Author: News Desk

Türkiye on Monday declared the removal of the retaliatory tariffs it had imposed in 2018 on various U.S. imports, signaling improved relations between the two nations just days ahead of President Recep Tayyip Erdoğan’s scheduled meeting with U.S. President Donald Trump. “The additional financial obligations imposed on imports of certain U.S.-origin products have been terminated,” the ministry stated. Erdoğan is scheduled to attend the United Nations General Assembly in New York this week, before his meeting with Trump, who expects to finalize trade and defense agreements with Türkiye. The retaliatory tariffs covered a range of products, including cars, fruit, rice,…

Ukrainian President Volodymyr Zelensky on Saturday stated that Kyiv has prepared initial plans for the ‘controlled export’ of Ukrainian weapons, with a particular focus on sea drones. The statement comes ahead of the UN General Assembly in New York City, during which Zelensky is expected to meet with U.S. President Donald Trump and other world leaders. Zelensky stated that Ukraine intends to increase its acquisition of U.S. weapons through NATO’s PURL program starting in October, while also exploring opportunities to export its domestically manufactured arms. Since Russia’s 2022 invasion, Ukraine has relied heavily on Western financial support and weapons supplies.…

Egypt launched several industrial projects within the Suez Canal Economic Zone (SCZone) on Saturday, including textile investments worth $110 million from Türkiye’s Eroglu Global Holding and China’s Hengsheng Textile Technology. Egyptian Prime Minister Mostafa Madbouly inaugurated the projects alongside Eroglu Chairman Nurettin Eroglu and Hengsheng Chairperson Chen Songfu. The Chinese-owned Hengsheng Textile facility, focused on printing, dyeing, and garment manufacturing, is one of the notable projects among the initiatives. Situated in the West Qantara industrial zone, northeast of Cairo, the factory accounts for a $70 million investment and covers an area of 200,000 square meters. The facility is being built…

The United States has called on India to include its Russian oil imports in ongoing trade discussions, while Indian refiners continue to purchase Russian oil to meet rising energy demands, according to a report by Bloomberg. During a meeting with Indian negotiators on Tuesday, a U.S. delegation headed by Assistant Trade Representative Brendan Lynch brought up the matter. The request is uncommon since a country’s trade with a third party is rarely included in bilateral trade discussions. Earlier this week, U.S. officials held a day-long talk in New Delhi, seeking to ease strained relations following President Donald Trump’s imposition of…

Indonesia’s Trade Ministry enacted two new regulations on Friday to strengthen controls on cassava and ethanol imports, aiming to protect local farmers and ensure a stable domestic supply. Trade Minister Budi Santoso stated that these measures align with President Prabowo Subianto’s directive to stabilize industrial supplies while safeguarding domestic producers. “This is in line with the President’s instructions to secure raw materials, protect farmers, and ensure supply stability,” Santoso said. According to Trade Ministry Regulation No. 31/2025, an earlier policy on agricultural imports has been updated to impose restrictions on cassava and its related products, such as tapioca. Meanwhile, Regulation…

India’s state-owned MOIL declared on Thursday that it has begun supplying manganese ore fines to Indonesia, marking the company’s entry into the export market. MOIL has commenced exports of low-grade manganese ore, dispatching its first shipment of 54,600 tons to Indonesia from the Visakhapatnam port on 22 August. The government has designated MOIL as the State Trading Enterprise (STE) for exports of manganese ore containing less than 46% manganese. Under this policy, all such exports must be routed exclusively through MOIL, reinforcing the company’s role in mineral trade and resource monetization. “It’s our first ever export consignment of manganese ore…

China and ASEAN officially launched an upgraded version of their free trade agreement—Version 3.0 China-ASEAN Free Trade Area (CAFTA)—on Wednesday in Nanning, southern China. This upgraded, institutional, and rule-based framework aims to strengthen regional collaboration in key sectors such as the digital economy, green development, and supply chain integration. Unlike previous versions that focused mainly on lowering tariffs and boosting service investments, Version 3.0 extends the framework to include the digital economy, green development, supply chain integration, and alignment of standards and conformity assessments—signaling a strategic shift toward future-focused collaboration. “The Version 3.0 CAFTA creates a number of opportunities. Firstly,…

The National Board of Revenue (NBR) of Bangladesh has introduced a 20% regulatory duty on rice bran oil exports in an effort to stabilize the local market. The NBR issued an official directive on Wednesday, signed by Chairman Md Abdur Rahman Khan, to implement the newly imposed duty. Over the past few months, the Bangladesh Rice Bran Oil Mills Association had urged the government to reinstate the duty to maintain an adequate domestic supply. As stated in the NBR’s notification, the duty is enforced under the Customs Act 2023 and applies to both refined and crude forms of rice bran…

Türkiye and Kyrgyzstan signed the 12th Term Joint Economic Commission (JEC) Protocol on Thursday, outlining initiatives to deepen collaboration across sectors such as trade, industry, energy, transportation, agriculture, education, healthcare, and culture. Türkiye’s Vice President Cevdet Yilmaz and Adylbek Kasymaliev, Chairman of Kyrgyzstan’s Cabinet of Ministers, signed the agreement in Bishkek. The protocol features a 77-article action plan that serves as a joint roadmap for enhancing bilateral relations. Yilmaz emphasized that both nations are committed to achieving the trade targets set by Türkiye President Recep Tayyip Erdogan and Kyrgyz President Sadyr Japarov, $2 billion in the short term and $5…

Malaysia’s Federal Land Development Authority (FELDA) has called on the government to eliminate the Approved Permits (AP) and Import Permits (IP) for refined sugar, following a recent surge in supply. FELDA chairman Datuk Seri Ahmad Shabery Cheek highlighted that Malaysia’s domestic sugar production is adequate and does not require supplementary imports, which he argued create unfair competition for local producers. He noted that imported sugar, ranging between 60,000 and 70,000 metric tons annually, is sold at the same regulated price as locally produced sugar, despite incurring higher production costs. “In countries like Vietnam, the Philippines, Thailand, and Indonesia, sugar prices…