Page 2 - Trade

Myanmar's trade with ASEAN countries tops $10.3 bn in 9 mths till Dec 2022

The Ministry reported on Thursday that imports surpassed exports, with exports reaching more than $3.538 billion and imports valued at more than $6.77 billion, Xinhua news agency reported

More hiccups: No Dutch courage in Delhi govt's new excise policy

The new liquor policy promised several changes to the way alcoholic drinks are sold in Delhi

Robust US-Pak trade relationship is more important than ever: US Official

A robust US-Pak relationship is more important than ever to bolster the economy of Pakistan, which is recovering from devastating floods, the Biden Administration has said. Speaking at the daily news conference, State Department Spokesperson Ned Price told reporters said that the robust trade relations between the US and Pakistan is also providing business opportunities for the Americans. We believe that a robust trade relationship between the United States and Pakistan is more important than ever to bolster Pakistan's economic stability as it recovers from devastating floods, while at the same time also providing opportunity to Americans and to American businesses in this country, exposing them to new markets, Pakistani markets in this case, State Department Spokesperson Ned Price told reporters at his daily news conference. A delegation of Pakistani officials is here in town for the Trade and Investment Framework Agreement Council ministerial meeting, which was Co-chaired by US ..

Trade in local currency: India may ink pacts with UAE, Nigeria, Malaysia

The move is aimed at reducing transaction costs for exporters and importers, a source said

Technology is making trade more trendy

In past decades, global trade grew with consistent investment in infrastructure such as ports, shipping lines and cargo facilities. Now, global trade will be driven by high-tech and digitization

Myanmar's maritime trade up 19.42% to $22.24 billion in over 10 months

The Southeast Asian country usually does most of its foreign trade through sea routes as it has a long coastline. It conducts border trade with China, Thailand, Bangladesh and India

Countering non-tariff barriers

Tanu Singh's book demystifies the World Trade Organization jargon on tariffs and is a valuable source of information for both industry and academia

Pakistan economist Per­vez Tahir urges resumption of trade with India

Pakistan poli­ti­cal economist Per­vez Tahir has called for revival of trade with India to decrease people's woes, local media reported.

Foreign trade in rupee no great shakes despite surge in vostro accounts

Teething troubles in exchange rate mechanism, repatriation cited as roadblocks, even as Russia, African and Gulf nations and a few others evince interest in rupee-denominated trade

India-UK ongoing FTA negotiations won't be hit by BBC row: Govt official

"As per the UK government, BBC is an autonomous organisation and the even UK government is not owning up to it," said the official

Illegal subsidies by trade partners hurt Indian trade, business: Govt

The government on Monday said illegal subsidies by trade partners and other countries hurt Indian trade and business, and that corrective actions are taken in the form of invoking dispute settlement mechanisms. The Department of Commerce on February 9, 2023 had stated that illegal subsidies by trade partners and other countries hurt Indian trade and business, Minister of State for Corporate Affairs Rao Inderjit Singh told the Lok Sabha. "At a multilateral forum, the disciplines regulating the provision of subsidies and the use of countervailing measures to offset injury caused by subsidized imports are addressed in the Agreement on Subsidies and Countervailing Measures," he said in a written reply. According to him, the subsidies whether they are prohibited (illegal) or actionable are determined by three major steps within the Subsidies and Countervailing Measures agreement. Based on them, corrective actions are taken in the form of invoking dispute settlement mechanism, Singh said

Greener trade, investment crucial to face Asia Pacific climate change: ADB

The Asian Development Bank (ADB) on Tuesday said greener trade and investment are crucial for tackling climate change in Asia Pacific, and incorporating a separate chapter on efforts to mitigate environmental concerns in regional trade agreements can help ensure their effectiveness in achieving climate goals. The Asian Economic Integration Report (AEIR) 2023, released by ADB said Asia is one of the most vulnerable regions to climate change risks, yet it emits the largest volume of carbon dioxide. Annual temperatures have risen faster in the last 30 years than in any other region, and are now 0.86C above the 19812010 average. Asia is also increasingly facing more extreme precipitation incidences such as storms, floods, and landslides, having borne the brunt of almost 40 per cent of disasters worldwide in the past 2 decades. Ironically, it is responsible for about a half of global annual carbon dioxide (CO2) emissions, the AEIR said. Asia and the Pacific's remarkable growth has lift

India, EU set up three working groups under Trade and Tech Council

Ministerial meet of Council to be held within two weeks

Foreign trade policy to focus on long-term strategy to boost exports

Final call on announcement of the policy will be taken by March-end

Promoting int'l trade in rupee to help reduce currency volatility: Survey

Promoting international trade in the domestic currency will help in protecting the rupee from volatility and reduce cost of doing business in the global markets, Economic Survey said on Tuesday. The survey suggested that it could assist Indian exporters in getting advance payments in rupee from overseas clients and in the longer term promote the domestic currency as an international currency once the rupee settlement mechanism gains traction. In July 2022, the Reserve Bank of India issued a circular permitting an additional arrangement for invoicing, payment, and settlement of exports/imports in Indian rupees (INR) to promote the growth of global trade with emphasis on exports from India and to support the increasing interest in the global trading community in rupee as an international currency. The framework involves invoicing of exports and imports in rupee, market-determined exchange rates between the currencies of the trading partner countries, and settlement through special rup

Diverse views on trade & investment at Davos

Beneath the high sounding words during the discussions, willingness to co-operate on trade and investment issues was missing

Three points for the Budget

Of the many things to watch in the Budget, three things-growth, fiscal deficit and stance on trade-will receive special attention from analysts. Getting the tone right will be crucial

Future of trade is digital, green and inclusive, says WTO Director-General

The World Trade Organization Director-General Ngozi Okonjo-Iweala on Tuesday said the future of trade is in services and it has to be green, digital and inclusive

Supply chain disruptions likely despite falling trade

After two years of revenue and profit growth, the shipping lines are facing losses on most sailings due to falling freight rates

China's trade tumbles sharply in Dec, clouds 2023 growth outlook

Exports contracted 9.9 per cent year on year in December, extending a 8.7 per cent drop in November