GLOBAL TRADE DEVELOPMENT WEEK
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Trade Development News
- Apr 28
- 3 min
Asian Development Bank: Developing Asia to Grow 7.3% in 2021 Even as COVID Lingers
According to a new report from the Asian Development Bank (ADB) economic growth in developing Asia is set to rebound to 7.3% this year, supported by a healthy global recovery and early progress on coronavirus disease (COVID-19) vaccines, The projected resurgence follows a 0.2% contraction last year, according to ADB’s flagship economic publication, Asian Development Outlook (ADO) 2021, released today. The region’s growth is forecast to moderate to 5.3% in 2022. Excluding the
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Trade Development News
- Mar 10
- 2 min
ASIA: RCEP to bring 'explosive growth,' fierce competition among parties
The Regional Comprehensive Economic Partnership (RCEP) agreement has been ratified by China and it is hoped that other member countries can speed up their progress and finally reach the threshold of entry into force, Minister of Commerce Wang Wentao said Monday. "The sooner the agreement comes into force, the sooner the people of the member countries will benefit," Wang said on the sidelines of the annual national legislative session. The agreement signed by 15 Asia Pacific c
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Trade Development News
- Feb 18
- 1 min
Can Asean recover this year?
Prior to the pandemic, Southeast Asia had made huge advancements and was forecasted to be the fourth biggest economy by the year 2030. Unfortunately, the Covid-19 pandemic has resulted in economic devastation for Asean, arguably posing the greatest challenge since the region’s formation. However, there are positive signs that Asean can make an economic recovery in 2021. “All Asean nations are involved in the Asean Single Window Live Operation, where trade and cargo flows can
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Trade Development News
- Feb 17
- 3 min
New WTO chief's pile of problems
The coronavirus pandemic, log-jammed trade talks and a long-delayed meeting of member states are just a few of the crises awaiting Ngozi Okonjo-Iweala as she takes the helm of the World Trade Organization next month. The WTO needs a kiss of life -- and fast -- and the first female and first African director-general of the global trade body will have to hit the ground running as she takes on the job in the middle of a major global recession. Here are the four main challenges t
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Trade Development News
- Feb 9
- 3 min
Covid-19, e-commerce fuel illicit trade in Asean: EU-Asean Business Council
SMUGGLED wildlife, cigarettes, counterfeit medicines, substandard personal protective equipment (PPE), and even children's toys that bypass safety checks are among the worrisome goods traded in South-east Asia's illicit markets. The region's counterfeit goods market, excluding fraudulent medicines, is worth around US$35.9 billion annually, according to a 2019 report by the United Nations Office on Drugs and Crime (UNODC). It also costs governments further billions in tax reve
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Trade Development News
- Nov 12, 2020
- 2 min
What is RCEP and what does an Indo-Pacific free-trade deal mean?
The world’s biggest free-trade agreement by population and GDP will bring huge tariff cuts for its Asean and Pacific Rim signatories, including China But the agreement is less open and comprehensive than the 11-member CPTPP, which involves some of the same countries along with the United States When leaders from 15 countries in the Indo-Pacific region meet for a virtual summit on Sunday, they are expected to sign a free-trade agreement that, measured by population and GDP, is
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Trade Development News
- Nov 9, 2020
- 3 min
OFFICIAL CHINA TRADE DATA: China Ramps up Exports to EU, US Hampered by Covid - October 2020
We are pleased to share the October China Preliminary Data from our partners Trade Data Monitor, summarised by John Miller. For a copy of 'October Preliminary China Trade Data' feel free to email andrewk@kwconfex.com Trade Data Monitor Partner APAC China maintained its strong 2020 export performance in October, buoyed by a summer of consumer spending in the U.S. and Europe after a locked-down spring. Overall, outbound shipments increased to $237.2 billion, up 11.4% compared t
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Trade Development News
- Oct 30, 2020
- 2 min
CAN FDI DATA BE TRUSTED?
Irregularities in the data saw the withdrawal of this year's World Bank Doing Business report. Investment Monitor delves into the world of FDI data to assess whether the numbers can be trusted. The withdrawal of the World Bank’s Doing Business report this year sparked alarm among investors and policymakers the world over. The bank is currently investigating ‘irregularities’ in recent editions that affected the rankings of China and Saudi Arabia, among others. The level of con
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Trade Development News
- Sep 25, 2020
- 2 min
UNCTAD: New Trade and Development Report 2020 Released
Sharing the latest report from UNCTAD on post Covid Trade & Development Covid-19 has served as a reminder that we live in a closely interdependent world that brings opportunities but also carries dangers. It has, just as importantly, shed light on a whole series of pre-existing conditions - from heightened inequality, to unsustainable debt and rampant environmental destruction - that were left unaddressed after the Global Financial Crisis. The world at the end of 2019 was, in
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Trade Development News
- Sep 14, 2020
- 2 min
ADB Releases Latest Statistical Report for Asia and Pacific, Updates Database
Asian Development Bank (ADB) today launched the latest edition of its annual statistical report for the region, Key Indicators for Asia and the Pacific 2020, and an update to its online database, Key Indicators Database. Key Indicators 2020 presents a comprehensive set of economic, financial, social, and environmental indicators, including for the Sustainable Development Goals (SDGs), for ADB’s 49 regional members covering the years from 2000 to 2019. A key statistic in the r
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Trade Development News
- Sep 14, 2020
- 4 min
$3.1bn Nigeria Customs modernisation project concession won by Huawei, Smiths Detection & Bionica
The Federal Executive Council (FEC) ratified the $3.1 billion anticipatory approval by President Muhammadu Buhari to concession the modernisation project of the Nigerian Customs Service (NCS) to a consortium named Messers E.Customs HC Project Limited. The concession is for 20 years. The consortium is made up of Bionica Technologies W.A. Limited, Huawei, Smiths Detection, Nuctech of China, Larsen & Toubro Group, and Paramount Group. The Minister of Finance, Budget, and Nationa
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Trade Development News
- Sep 8, 2020
- 1 min
The Year That Hammered Global Trade Still Poses Five Big Risks
This year could end today and it would still rival the most challenging periods for the international trading system. But the next 3 1/2 months may bring even more potential disruptions that could secure 2020’s spot as the most turbulent in modern history. Several key events will occur that have potential to turbo-charge the global trade regime’s trajectory toward dysfunction and chaos. On the flip side, it’s possible the outcomes could help cushion the worst global recession
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Trade Development News
- Sep 4, 2020
- 4 min
The WTO Leadership Race
On May 14, 2020, then-director-general of the World Trade Organization (WTO) Roberto Azevedo announced he would step down on September 1, 2020, one year before his term was set to expire. That announcement initiated a search for a replacement, which is expected to conclude in November of this year. Azevedo’s resignation added yet another challenge for the WTO to overcome during a critical moment for both the organization and the global economy. Fresh leadership with a bold ap
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Trade Development News
- Sep 2, 2020
- 1 min
As Roberto Azevêdo Jumps Ship from WTO to Pepsi, What Legacy Does he Leave Behind?
Azevedo has claimed success on issues like a Trade Facilitation Agreement aimed to cut through delays in trade. But on his watch, the WTO also failed to conclude the Doha Development Agenda. After acting as the custodian for the 164-member inter-governmental trade organisation for the past seven years, one would think it wouldn’t be that easy to go from trying to straighten a sinking ship to working for a profit-making multinational company that produces sugary drinks. But th
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Trade Development News
- Aug 18, 2020
- 1 min
GTDW August Trade Intelligence Newsletter
News & intelligence on safe, smart and secure cross border trade & investment for donors, governments, multilaterals, academia, enterprise & technologies As Covid continues to dominate international trade headlines in August we have seen a resulting move forward in the speed of tradetech digitalization and implementation which are encouraging signs.
Trade intelligence supports a paradigm shift in consumer behavior with a significant rise in e-commerce that is defining the 'Ne
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Trade Development News
- Jul 7, 2020
- 2 min
Maersk Acquires Customs Broker KGH
Maersk said on Monday it had agreed to buy Sweden-based customs broker KGH Customs Services for 2.6 billion Swedish crowns ($281 million), as the container shipping group seeks to expand its end-to-end logistics services. Maersk since 2016 has sold its oil and gas business and focused on its container and logistics business for customers including Walmart and Nike. It handles about one in five containers shipped by sea worldwide and is seeking to speed up investments in in-la
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Trade Development News
- Jun 25, 2020
- 1 min
WTO: Candidates for DG selection process 2020 announced
With the nomination of two hugely credible female candidates and representation from Latin America, Africa, Middle East, Europe and Asia Pacific could we see the emergence of a new paradigm in global trade leadership? The following candidates have been nominated by their respective governments for the post of WTO Director-General to succeed the current Director-General, Mr Roberto Azevêdo, who has announced he will step down on 31 August 2020. The candidates are listed in the
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Trade Development News
- Jun 11, 2020
- 1 min
CSIS: American & EU Companies Have Little Intention to Leave China
Decoupling Between Washington and Western Industry By Scott Kennedy and Shining Tan Although the Trump administration does not openly embrace the idea of decoupling, its various policies – restrictions on high-tech exports to China, expanded investment limits, and efforts to have American companies move production out of China and on-shore manufacturing in the United States – effectively add up to a decoupling strategy. There are some signs that because of the trade war and o
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Trade Development News
- Jun 2, 2020
- 2 min
MALAYSIA: B. Braun expands global test centre for medical devices in Penang
KUALA LUMPUR (June 2): Germany headquartered medical technology company B. Braun is expanding its portfolio of testing capabilities for healthcare solutions in Penang. In a joint statement, Malaysian Investment Development Authority (MIDA) and B. Braun said the testing capabilities related to intravenous access, surgical technologies, intravenous systems, central venous puncture and pain control. They said prior to the expansion, the Global Test Centre in Penang had only supp
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