World Trade Organization’s Forecast for 2023 According to the World Trade Organization (WTO), global merchandise trade volumes are expected to experience a “subpar” growth of 1.7% in 2023. This growth is weighed down by ongoing issues such as the war in Ukraine, high inflation rates, tighter monetary policies, and financial uncertainty. Although this forecast is … Read more
Digitalization Benefits and Solutions for Small Businesses The Informal Working Group on Micro, Small and Medium-sized Enterprises (MSMEs) discussed the advantages of digitalization for small businesses on 26 April. Singapore shared its experiences with digital trade facilitation through its digital economy agreements, which include the adoption of the UNCITRAL Model Laws on E-commerce and Electronic … Read more
The letter of credit is a crucial document in the world of international trade, providing the foundation for vast amounts of globally traded goods. However, understanding the rules and best practices surrounding this critical document can be challenging, even for those well-versed in international trade. In this comprehensive article, we delve into the letter of … Read more
International entrepreneurship and consulting have become essential components of the global business landscape. As the world continues to shrink due to rapid advancements in technology, communication, and transportation, entrepreneurs and consultants have a unique opportunity to tap into new markets and create value across borders. This article will explore the concept of international entrepreneurship, the … Read more
Understanding the Importance of Quality Control Standards and the Acceptable Quality Level (AQL) in International Trade Quality control is an essential aspect of international trade, ensuring that products meet the required standards and specifications. With an ever-growing global market, it is crucial for businesses to maintain high-quality products to guarantee customer satisfaction and uphold their … Read more
The European Union (EU) has played a pivotal role in shaping the global trade landscape since its inception. Over the years, the EU has evolved from a primarily economic partnership into a political and economic powerhouse, influencing international trade policies and establishing strong trade relationships with countries across the globe. In this article, we will … Read more
Strengthening Ties between the EU and NAFTA In recent years, the landscape of international trade has been rapidly transforming. With globalization and technological advancements, countries have become more interconnected than ever before. This interconnectedness has led to a surge in the number of trade agreements between various countries and trading blocs, such as the European … Read more
Australia’s relationship with China was severely affected when Beijing blocked the import of roughly a dozen Australian goods worth around AU$20 billion annually in May 2020. While the deteriorating political relationship between the two countries was the immediate cause, a trade deal between Beijing and Washington was also a factor. The disruptions in trade were … Read more
On Friday, China and Brazil pledged to cooperate in the fight against deforestation and illegal trade that results in forest loss. During a visit to China, Brazil’s President Lula da Silva met with his Chinese counterpart Xi Jinping, announcing their collaboration to control the ongoing issue of illegal deforestation. China is Brazil’s largest trading partner … Read more
Automatic subscription renewals have become increasingly popular among businesses and consumers alike, providing convenience and cost savings for both parties. However, these renewals can also lead to deceptive and unfair practices if not handled responsibly. In response, the International Chamber of Commerce (ICC) has released its first-ever set of principles for automatic subscription renewals to … Read more