by admin | Mar 25, 2025 | business, commerce, government, international relations, international trade
On March 24, 2025, ENA reported from Addis Ababa—Trade and Regional Integration Minister Kassahun Gofe expressed optimism that Ethiopia will complete its WTO accession process during the 14th Ministerial Conference (MC14), scheduled for March 2026 in Yaoundé, Cameroon.
At today’s press conference, Kassahun outlined the government’s intention to finalize the WTO accession process during the MC14 scheduled for Yaoundé from June 26-29, 2026.
As stated by the minister, the recently completed fifth negotiation cycle produced favorable outcomes.
Kassahun conveyed his optimism by stating, “Our belief is that we can accomplish our entry into the WTO during the MC14 in Cameroon. I remain hopeful.”
He went into more detail about the advancements made during the fifth negotiation round, emphasizing significant decreases in the quantity of questions raised by World Trade Organization member countries.
“In the fourth negotiation round held in 2020, approximately 181 queries were submitted to Ethiopia. The number has since reduced to 110, indicating significant advancement,” he pointed out.
The minister stated that Ethiopia will deliver detailed written responses by May 2025.
Furthermore, the minister revealed that Ethiopia has initiated bilateral market access talks with 12 out of 17 nations, including major economies like the United States and the European Union, following the principle of reciprocal trade benefits.
He highlighted that during the fifth round of meetings, 19 nations alongside the World Bank expressed backing for Ethiopia’s membership, surpassing typical levels of approval and anticipations.
Minister Kassahun Gofe stated that Ethiopia has been diligently working towards joining the WTO since 1999, having gained observer status in 2003.
Last week, during the discussions, Ethiopia emphasized its present economic situation and the ongoing economic changes, he mentioned.
The following negotiation session is set for this July.
According to the minister, the Ethiopian government has set up a systematic procedure involving a 35-member technical committee that carries out weekly evaluations along with a negotiation team that conducts bi-weekly assessments.
The minister further noted that numerous countries view Ethiopia as a nation with a GDP exceeding $206 billion and experiencing rapid economic growth. They believe that Ethiopia’s accession to the WTO would present significant market opportunities for fellow member states.
He mentioned that certain countries have gone through lengthy negotiation processes, involving over 12 rounds of talks, before successfully joining the WTO.
He mentioned that the possible advantages for Ethiopia joining the WTO entail functioning within a stable international marketplace.
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by admin | Mar 24, 2025 | agriculture, business, commerce, international trade, news
Tariffs place a 100 per cent surcharge on rapeseed oil, peas and oil cakes for animal feed. Aquatic products will face a 25 per cent levy
Canada has initiated a complaint against China at the World Trade Organization (WTO) regarding extra tariffs imposed on agricultural and fisheries goods, according to an announcement from the organization on Monday.
The agency stated, “Canada has sought WTO dispute consultations with China regarding the latter’s actions that have imposed extra import tariffs on specific agricultural and fishery goods coming from Canada.”
The duties announced at the beginning of this month affect rapeseed oil, oil cakes — which serve as an animal feed — and peas coming into the country.
Canada
with a 100 percent surcharge.
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Canada ranks as one of the leading global suppliers of canola, which is a type of rapeseed utilized for producing cooking oil, animal feed, and biodiesel fuel.
China
Has traditionally been among its biggest clients.
In the meantime, aquatic products and pork will be subject to a 25 percent tariff.
Leaders from Canada’s industries have stated that they would suffer significantly due to the recent tariffs. These were implemented following an inquiry initiated by Beijing regarding the duties that Ottawa placed on Chinese products in the previous year.
The tariffs follow growing trade tensions between the United States and both Canada and China, following new duties introduced by U.S. President
Donald Trump
.
In August, Ottawa imposed 100 percent tariffs on China.
electric vehicle
imports, matching
US
initiatives aimed at preventing a surge of government-supported vehicles from China into the North American market.
Additionally, they imposed an extra fee on imported Chinese steel and aluminum goods.
Beijing’s commerce ministry said an investigation into these measures found that Canadian policies “disrupted the normal trade order and harmed the legitimate rights and interests of Chinese enterprises”.
Following the submission of grievances to the
WTO
, discussions are started among the members who are in conflict with one another.
In the absence of an agreement, the complainant may seek the formation of a special committee comprising three to five specialists.
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The article initially appeared on the South ChinaMorning Post (www.scmp.com), which is the premier source for news coverage of China andAsia.
Copyright © 2025. South China Morning Post Publishers Ltd. All rights reserved.
by admin | Mar 24, 2025 | business, commerce, international trade, news, politics
Chinese Vice-President Han Zheng urged the company to participate in the development of the Bay Area and the Hainan Free Trade Port during his meeting with CEO Merlin Swire.
Chinese Deputy President Han Zheng has urged the British multinational corporation
Swire Group
to contribute to solidifying Hong Kong’s position as an international aviation center while actively participating in the growth of the Greater Bay Area.
On Monday, Han encountered Merlin Swire, the CEO of John Swire & Sons, who was present in Beijing for the China Development Forum.
“Han stated that the Swire Group, a globally renowned multinational corporation, has experienced significant growth in both Mainland China and Hong Kong,” as reported by the Ministry of Foreign Affairs.
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I am hopeful that the Swire Group will play an active role in the development of both the Greater Bay Area and the Hainan Free Trade Port.
The Bay Area Blueprint aims to transform Hong Kong, Macau, and nine Guangdong provincial cities into a major economic force. Meanwhile, the Hainan strategy seeks to develop the island into a leading global free-trade center with its own custom regime by the end of this year.
At the meeting with Swire, Han recognized the intricate global landscape but emphasized that China’s backing of economic globalization along with its ongoing reform and openness initiatives will contribute additional stability to the international community.
Han similarly had a meeting with the CEO of Swiss pharmaceutical firm Novartis, Vasant Narasimhan, underscoring Beijing’s backing for the creation of novel medications and fostering an improved climate for innovative activities among international corporations.
He urged the firm to capitalize on opportunities, leverage its advantages, and enhance cooperation with the nation for better growth within China.
The Ministry of Foreign Affairs reported that both Swire and Narasimhan spoke positively about China’s economic and social accomplishments and expressed optimism regarding the nation’s future.
It was claimed that both firms agreed to engage in extended partnerships with the nation and vowed to increase their financial commitment and strengthen collaboration with China in sectors such as aviation, healthcare, and medical services.
At last month’s “two sessions” political event, Chinese Premier Li Qiang urged Hong Kong to strengthen global interactions and collaboration. This directive was seen as a step towards enhancing China’s openness during the growing competition between Beijing and Washington.
In 2023, Merlin Swire headed a delegation that met with Xia Baolong, who leads the Hong Kong and Macau Affairs Office.
At the meeting, Xia commended the team for their sustained involvement in Hong Kong and their backing of the “one country, two systems” governance policy, simultaneously encouraging them to play a role in advancing the nation’s progress.
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by admin | Mar 24, 2025 | cargo, commerce, exports, international trade, romania
The amount of cargo handled at Romania’s seaports decreased by 14% year-over-year to 59.55 million tons in 2024, as reported by the statistical agency INS and cited by various sources.
Bursa.ro
.
The decrease in total handling volume can be attributed to a 26.3% drop in the amount of loaded cargo, whereas the quantity of unloaded goods saw a rise of 3.8%.
Specifically, the amount of grain loaded saw a decline of 31.6% year-over-year (dropping to 19.9 million tons, which represents one-third of the overall throughput). This drop was mainly due to reduced exports from Ukraine being managed through Romania’s Constanta port, causing volumes to revert nearer to pre-war norms.
The handling of ore (mainly for exports) also decreased considerably, by 39%, totaling 2.5 million tonnes.
On the contrary, the management of petroleum products saw an increase of 12.3% year-over-year to reach 7.4 million tonnes in 2024, with 6.0 million tonnes being offloaded during this period.
iulian@romania-insider.com
(Photo source:
Prasit Rodphan/Dreamstime.com
)
by admin | Mar 24, 2025 | business, commerce, economics, global economy, international trade
New Delhi [India], March 24 (ANI): According to DHL, India is poised to significantly contribute to worldwide trade growth over the coming five years, securing the third position in terms of total trade increase.
Trade
Atlas 2025 report.
It is anticipated that the nation will contribute 6 percent to the increased worldwide trade during this timeframe, coming right after China (with 12 percent) and the United States (at 10 percent).
The document underscored India’s increasing significance in global commerce, along with other rising economic powers like Vietnam, Indonesia, and the Philippines. These nations are predicted to rank within the top 30 for rapidity and magnitude of trade activities.
It was stated that over the coming five years, India, Vietnam, Indonesia, and the Philippines are expected to be ranked within the top 30 countries for both the pace and volume of trade expansion. Additionally, India is highlighted as having the third highest predicted increase in total trade volumes.
In recent times, India’s trade record has stood out significantly. As of 2024, it ranked as the world’s 13th biggest trader; however, it achieved an impressive compound annual trade growth rate of 5.2 percent between 2019 and 2024. By comparison, this pace considerably surpassed the global trade increase rate of merely 2 percent over those five years.
The report credited India’s swift expansion in trade to its robust economic stability and increased participation in international trading systems.
A significant pattern highlighted in the report is the growing participation of nations not closely allied with either the U.S. or China in worldwide commerce. This proportion climbed from 42 percent in 2016 to 47 percent in 2024.
According to the report, countries such as the United Arab Emirates, India, Vietnam, Brazil, and Mexico have notably boosted their involvement in international trade, solidifying their roles as major actors in the developing worldwide economic scene.
Moreover, commerce with nations regarded as neutral—those not aligning closely with either the U.S. or China—has increased, rising from 15.4 percent in 2016 to 17.5 percent in 2024. This development underscores a move toward a more varied and multi-pole trading landscape.
Given its robust economic foundation and growing engagement in international trade, India is excellently poised to maintain its positive momentum in global commerce. In the upcoming years, India is anticipated to strengthen its position as one of the quickest-expanding trading countries globally. (ANI)
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