Tag: trade

Amid rising tensions, China suspends pineapples import from Taiwan
28Feb By Mike TrudellNo Comments
China, World

Amid rising tensions, China suspends pineapples import from Taiwan

China has abruptly suspended imports of pineapples from Taiwan to step up its economic pressure against the Taiwanese government.The Chinese General Administration of customs reported that from Monday, China will stop importing pineapples from Taiwan.“This move was a normal precaution to protect biosecurity and prevent the import of plant diseases,” said the spokesperson for China’s Taiwan Affairs Office.Presidential Office spokesman Xavier Chang said that China’s action is “unfriendly.”Taiwan produces nearly 420,000 tonnes of pineapples every year. It had exported 6,200 batches to China since last year, with only 13 batches, totalling 141 tonnes, failing tests, meaning the qualification rate was 99.79 per cent.“Taiwan’s Council of Agriculture (COA) announced that it would spend NT$1 billi...
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India signs free trade agreement with Mauritius, delivers additional 100,000 COVID-19 vaccines
23Feb By Mike TrudellNo Comments
World

India signs free trade agreement with Mauritius, delivers additional 100,000 COVID-19 vaccines

India on Monday signed free trade agreement along with five key pacts with Mauritius, making it the first such agreement with an African country.The agreement was signed during the visit of External Affairs Minister S Jaishankar to Mauritius. On the occasion, Jaishankar said India is privileged to have entered the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) with Mauritius.“This Agreement is India’s first-such Agreement with an African country as noted by the Prime Minister. It will provide a timely boost for the revival of our post-COVID economies and also enable Indian investors to use Mauritius as a launch-pad for business expansion into continental Africa helping the prospect of Mauritius emerging as a ‘hub of Africa’,” he said.CECPA will provide preferential ac...
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US House reintroduces bill to ban goods from China’s Xinjiang
20Feb By Mike TrudellNo Comments
China, World

US House reintroduces bill to ban goods from China’s Xinjiang

In a step which will lead to increased tensions between the US and China, the US House of Representatives have reintroduced a bill that would ban imports from the Xinjiang region in China unless it is certified they are not produced with forced labour.“We have watched in horror as the Chinese government first created, and then expanded a system of extrajudicial mass internment camps targeting Uyghurs and Muslim minorities. We now know the entire XUAR economy is built upon a foundation of forced labour and repression,” said Representative Jim McGovern.According to McGovern, the Uyghur Forced Labor Prevention Act would create a “rebuttable presumption” that any goods made in the Xinjiang Uyghur Autonomous Region (XUAR) are made with forced labour and prohibited from entering the United State...
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Nepalese businessmen protest against ‘undeclared blockade’ by China
30Jan By Mike TrudellNo Comments
China, World

Nepalese businessmen protest against ‘undeclared blockade’ by China

Suffering huge loses, local businessmen in Nepal have launched a protest in Rasuwa against China’s ‘undeclared blockade’ of cross-border trade.During the demonstration, businessmen gathered in front of the Rasuwagadhi Customs Office holding placards with messages such as “ensure smooth movement of containers”, “ensure the safety of Nepalis living at the border”, “abide by international trade laws”, “abide by trade and transit agreements”, “take initiative for easy trade with China”, and “end undeclared blockade”.They said that importing Chinese goods through the crucial Rasuwagadhi border was very difficult. Nepali businessmen have also complained that they had to pay a hefty bribe to Chinese agents to import goods across the border.Earlier, locals had staged a protest against China at Tat...
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UK must not do trade deals with rights abusers, says foreign minister hinting at China
17Jan By Mike TrudellNo Comments
China, World

UK must not do trade deals with rights abusers, says foreign minister hinting at China

Hinting at China’s human rights violations in Xinjiang, United Kingdom’s foreign minister Dominic Raab has said that Britain should not engage in free trade with countries that abuse human rights.Last week, Raab said Britain would introduce new rules for its companies to try to prevent goods linked to China’s Xinjiang region entering their supply chains.Some British lawmakers want to go further and are due to consider proposals passed in the upper house of parliament that would give courts the power to stop free-trade agreements with countries if they consider them to have committed genocide.“The bar is being set incredibly high,” Raab said on Sunday. “I mean, frankly, we shouldn’t be engaged in free-trade negotiations with countries abusing human rights well below the level of genocide.”H...
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UAE-India Food Security Summit: Lulu group inks MoU with Fruit Master Agro Fresh J&K
18Dec By Joe RodriguezNo Comments
Asia, Market

UAE-India Food Security Summit: Lulu group inks MoU with Fruit Master Agro Fresh J&K

In a significant development, Jammu and Kashmir’s Fruit Master Agro Fresh and Dubai based Lulu group signed an MoU during the UAE-India Food Security Summit for supply of apple and other fruits for super markets of Lulu group across the Gulf Countries.During B2B sessions in the Summit, a meeting between a delegation from Jammu and Kashmir led by Navin Choudhary, Principal Secretary Agriculture and Horticulture, and top management of Lulu group led by its Chairman and Managing Director, Yousuf Ali, several decisions were taken to promote export of agriculture and horticulture products from the Indian union territory of Jammu and Kashmir to entire gulf region using stores of Lulu group.Group of leading entrepreneurs from Jammu and Kashmir made representation to potential UAE importers where ...
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China a ‘principal military, economic threat’ in Asia: US Commerce Secretary
9Dec By Mike TrudellNo Comments
Asia, China, Market, Singapore, World

China a ‘principal military, economic threat’ in Asia: US Commerce Secretary

China continues to be both the largest potential market and the principal military and economic threat in the Asian region, US Secretary of Commerce Wilbur Ross said on Tuesday.Speaking at the Milken Institute Asia Summit, Ross said: “China accounts for 210 out of 539 anti-dumping and countervailing duty orders imposed by the U.S. In addition, China makes up a “good portion” of the U.S. entity list that restricts companies’ access to American suppliers for national security reasons, he said.Anti-dumping and countervailing duties are slapped on products suspected of being sold at an unfairly low price. Chinese firms that have been put on the entity list include telecommunications giant Huawei.Commenting on the recently signed between China and 14 other Asia-Pacific Countries, Ross said that...
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Despite growing tensions, China buying computer chips from Taiwan firms
27Nov By Walter ParezNo Comments
Asia, China, Market, World

Despite growing tensions, China buying computer chips from Taiwan firms

Despite growing tensions between Taiwan and China, Chinese technology companies have increased orders for computer chips or semiconductors made in Taiwan.According to media reports, Taiwan has reported a six per cent jump in export from July through September this year.Alicia Garcia Herrero, chief Asia-Pacific economist with the French investment bank Natixis said, “They (Chinese firms) know they’re not yet able to produce at least the highest-end semiconductors needed for 5G.”She added that Taiwan makes top-level semiconductors and is unlikely to give up as a leader in the field. Taiwan factories produce some of the world’s top computer chips. But during the past four years, it has pushed companies to depend less on the Chinese market.The two countries have been locked in a political disp...
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China will import over $22 trillion worth of goods over the next decade: Xi Jinping
15Nov By Joe RodriguezNo Comments
Asia, China

China will import over $22 trillion worth of goods over the next decade: Xi Jinping

China is now shifting its focus to expand its imports in order to balance out its inbound and outbound shipments, and internationalize its currency.According to a senior official from a state-affiliated think tank, “China will no longer aim at achieving trade surpluses and solely expanding exports, but will pivot to moderately expanding imports for a balance between inbound and outbound shipments”.“This will not only help China to take the initiative in the new round of economic and trade negotiations, but also help promote the internationalisation of yuan,” said Huang Qifan, vice chairman of the China Center for International Economic Exchanges, during a financial forum.Earlier this month, President Xi Jinping had said that China will import over $22 trillion worth of goods over the next ...
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Amid worsening ties, China expected to sanction Australian copper, sugar
3Nov By Mike TrudellNo Comments
Asia, China, Market, World

Amid worsening ties, China expected to sanction Australian copper, sugar

As relations between China and Australia continue to get worse on a range of issues, importers across Beijing are expected to brace for a round of sanctions on copper ore and copper concentrate as well as sugar this week.The General Administration of Customs of China (GACC) has issued a notice to exporters claiming that it had found a pest in imported log timber from Queensland and has banned all log exports from the Australian state. It further claimed that it had found contamination in barley shipments from Australian grain exporter Emerald Grain as well.As per repots, bans on copper ore and copper concentrate, as well as sugar, are expected to be introduced this week.In September, China suspended barley imports from Australia’s largest grain exporter, CBH Group, after also detecting pes...
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