AMMAN, JORDAN – Jordanian industrialists have emphasized the imperative of strategic planning to bolster export diversification, underlining key measures such as facilitating connectivity to global supply chains through e-commerce, and ramping up promotion and marketing efforts for domestic products.They also called for expanding outreach to foreign markets, fostering collaboration between...
Jordan’s exports from Jan-May 2022 hit $478 million
Amman Chamber of Commerce (ACC) said that the total value of exports during the January-May period 2022 amounted to JD339 million, compared to JD248 million for the first five months last year. According to the ACC's statistical data announced on Sunday, the number of ACC certificates of origin issued during...
Egypt to sign wheat-for-goods swap deal with India to fight shortage
Moses Elhy met with the Indian ambassador to Egypt on Wednesday to discuss the potential swap agreement for 500,000 tons of wheat.Jordan’s exports to US rise by six percent in first quarter
Jordan's trade balance with the United States registered a surplus of JD105 million ($147.85 million) in the first quarter of 2022, according to the latest foreign trade statistics. Data released by the Department of Statistics on Sunday noted that the national exports to the United States increased by six percent...
Ukrainian envoy to Turkey accuses Russia of stealing grain
Ankara has also offered to help secure maritime corridors for the export of Ukrainian grain therefore Russian Foreign Minister Sergei Lavrov is coming to Turkey on Wednesday to discuss the issue.
Kuwait crude oil export to Japan climbs 7.6% to 6.61m barrels
Kuwait's export of crude oil to Japan has climbed 7.6 percent to 6.61 million barrels, or 220,000 barrels per day (bpd), up for the second straight month, government data showed Tuesday.Qatar’s Export Unit Value Index surges by 61 percent in Q1
Qatar’s Export Unit Value Index (EXUVI) has increased by 61.05 percent in Q1 2022 compared to Q1 2021. The Planning and Statistics Authority (PSA) released its Quarterly EXUVI for Q1 2022 as a new chain is added to statistical indicators calculated by PSA. The addition is as per the policy...Egypt looks to double exports to $100bn: PM
Egypt has set its eyes upon doubling exports to $100 billion in the next few years, and building a 'strategic stockpile' of all major commodities to cope with emergencies. Speaking to media Mostafa Madbouly, Prime Minister of Egypt, said : "Today, we witness, through the launch of Industrial partnership for...
Non-oil exports of Saudi Arabia surge 12.8% in March
Saudi Arabia's non-oil exports surged to $7.52 billion in March 2022, according to the General Authority for Statistics, also known as GASTAT. Non-oil exports excluding re-exports rose by 22.4 percent year-on-year. On a monthly basis, non-oil exports also grew by S3.2 billion, or 12.8 percent. Oil exports, which includes crude...
Sanctions hit Russia, Iran to boost cooperation in energy and trade
Tehran and Moscow are seeking to expand cooperation in energy and trade, officials said Wednesday, as Russian Deputy Prime Minister Alexander Novak visited Iran. Both countries have huge oil and gas reserves but are constrained by sanctions imposed by the West that limit their ability to export their resources. Novak...
UAE tea exports increase to AED1.2bn in 2020
The UAE has found its way into an exclusive club of top five tea-exporting countries in the world, with total exports of about AED1.2 billion in 2020.
UAE to build LNG plant with capacity to produce 9.6m tons
The Abu Dhabi National Co.has revealed that it would build a new liquefied natural gas plant with the capacity to produce some 9.6 million tons a year.
Russia may cut gas supplies to Finland over Ruble payment refusal
Russia may cut gas supplies to Finland soon over the Nordic country's refusal to pay Gazprom in rubles, Finnish state-owned Gasum said on Tuesday. Gasum said it would take its dispute with Gazprom Export to arbitration, a move that risks angering neighboring Russia further as Helsinki prepares to submit its...
Indonesia seizes tanker for defying palm oil export ban
The Indonesian Navy has seized a tanker that was carrying palm oil out of the country in violation of an export ban, a spokesman said Saturday.
ECI signs MoU with Terminus Group to strengthen digital infra projects
Etihad Credit Insurance (ECI), the UAE Federal export credit company, has signed a Memorandum of Understanding (MoU) with Terminus Group, an international Artificial Intelligence of Things (AIoT) smart solution provider, to strengthen the company’s trade-related digital infrastructure projects in the UAE and its expansion into new markets. The agreement, signed...
Libya’s energy sector paralyzed as second oil export terminal is shut
The suspension of operations at Brega terminal, which has an export capacity of 60,000 barrels per day, follows a force majeur and closure on Monday of Zueitina port and several other major sites in the "Oil Crescent" region of eastern Libya.Key Libyan oil export port closed amid shutdown ‘wave’
Libya's National Oil Corporation announced Monday the closure of operations in major oil fields after staff in the key export terminal of Zueitina were blocked from working. "The National Oil Corporation is obliged to declare a state of force majeure on the oil port of Zueitina, including all fields and...
Jordan to soon resume oil imports from Iraq’s Kirkuk fields
Jordan imports crude from Iraq under an MoU that was signed by the two governments on January 28 last year.Emirates to launch daily flights to Israel from June 23
Emirates will offer multiple daily and weekly flights throughout Australia, India, Philippines, Thailand and South Africa, many of which are home to thriving Jewish communities.
Iran mocks US failure to stop exports of oil cargo
Iran said that US attempts to seize its tankers and oil cargo had failed to stop exports that are subject to sanctions imposed by its arch foe. US defense officials rejected that account, and said Iranians themselves had seized a tanker before taking it to Iranian waters.
UAE, New Zealand partner to strengthen trade relations
According to Statistics New Zealand, the total two-way trade between New Zealand and the UAE in 2021 reached AED8.63 billion ($2.35 million).
Iraq’s February oil exports highest in last two years
The rate of Iraq's exports during February amounted to 3.314 million barrels per day.
Saudi exports to touch $354bn by 2030: Standard Chartered
Saudi exports to the world are estimated to grow 7.6 percent to $354 billion by 2030, according to Standard Chartered.Global and regional trade: The economic booster for GCC govts
The squeeze on real incomes within the region due to higher inflation may depress regional trade flows. The situation may worsen further if the global central banks' attempts to control rising consumer prices, which will ultimately dampen global economic activity.New South Wales displays agri-food innovations at Expo 2020
The Australian state of New South Wales (NSW) displayed its agri-food innovation and manufacturing capabilities to strengthen further its ties with the UAE at a dinner event held at the Australia Pavilion at Expo 2020 Dubai. The event was led by Vish Padmanabhan, NSW Senior Trade Commissioner to India and...Saudi Arabia overall export rose 62.6% y-o-y in December
GASTAT data said the value of exports amounted to SAR106.3 billion ($28.35 billion) in December 2021.Palestine exports rose 23% y-o-y in December
The rise in exports was 7 percent when compared to November of the same year.
Jordan records 17% spike in export of agricultural products
Jordan has recorded a seventeen percent increase in the export of agricultural products to JD734 million in 2021, compared with JD639 million in the same period in 2020.UAE and India sign ‘milestone’ pact to boost economies
Abu Dhabi Crown Prince Mohammed bin Zayed Al-Nahyan, and India's Prime Minister Narendra Modi held a virtual summit to witness the signing of the Comprehensive Economic Partnership Agreement, among other pacts.
Global trade hit record $28.5trn in 2021: UNCTAD
The UNCTAD’s Global Trade Update said all major trading economies saw imports and exports rise above pre-pandemic levels in the fourth quarter of 2021.UAE F&B trade hit $20bn in first 9 months of 2021: Dubai Chamber
The rise was said to have been supported by growing demand and expanded efforts to enhance food security and diversify food imports.Saudi Arabia scouts markets for non-oil exports
While initiatives like Made in Saudi Arabia are helping ramp up production, Saudi Exports is looking to rope in government agencies to help diversify the economy.
Jordan’s trade with US touches $1.384bn in 2021
Jordan was the first Arab country to sign a free trade agreement (FTA) with the United States in 2000.
Qatar looks to profit from Europe gas fears over Ukraine
Qatar ruler Sheikh Tamim bin Hamad Al-Thani has the Ukraine crisis, efforts to engage the hardline Taliban administration in Afghanistan, and backroom talks on reviving a nuclear accord with Iran on the agenda for his White House meeting with US President Joe Biden.
Jordan, Tunisia discuss economic cooperation
The discussion happened at the first session of the Jordanian-Tunisian Joint Trade Committee.
Saudi merchandise exports shot up 82.5 percent
According to a report by General Authority for Statistics (GASTAT), the overall merchandise exports of Saudi Arabia increased by 82.5% in November 2021.Saudi PIF joins tripartite pact to produce green hydrogen for export
Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, POSCO and Samsung C&T signed here today a tripartite memorandum of understanding aimed at developing a project to produce green hydrogen for export. The event took place on the sidelines of the Saudi-Korean Investment Forum, which was held in Riyadh.
Amman Chamber of Industry exports up by 17 percent in 2021
The exports of the Amman Chamber of Industry (ACI) increased last year in 2021 to "high" levels, compared to 2019, driven by the increase in exports of eight sub-sectors, according to official data. These figures indicate that Jordan's industry overcame hardships and enhanced its presence in important global markets, based...
India aims at boosting honey exports to UAE, Saudi Arabia
India started its honey exports only in the fiscal year 1996-97, and is the world’s eighth-largest honey producer and ranks ninth among the honey exporting countries globally.Iran sees possibility of exporting Covid-19 vaccines in a few months
Iran has said exporting vaccines manufactured by domestic producers was possible in a few months. Iran's deputy health minister for research and technical affairs Younes Panahi told Iranian media that some local producers made good progress and mass production of the vaccines will happen in the future. He said the...
Jordan exporters eye ‘promising’ Canada market
Jordan Exporters Association Khudari said the FTA between the two countries, which came into effect in 2012, provides "various and promising" opportunities for the country's businesses to enter the Canadian market.
Israel brings new law on cyber exports after Pegasus scandal
An updated Israeli end user certificate issued Monday, to be signed by buyers, listed terrorism as including offences committed with the aim of ‘seriously intimidating a population’ or ‘unduly compelling a government’ through crimes such as hostage taking and potentially fatal attacks upon a person's life.
Pakistani Basmati export to KSA, UAE suffers setback
Briefing a National Assembly panel, Commerce Ministry’s Director-General Dr. Syed Kausar Zaidi said that Saudi Arabia imports 80 percent of its rice from India.
Saudi EXIM inks $118m deals
The deals were signed at the Saudi Trade Finance Summit.
Dubai Chamber identifies UAE-Indonesia trade opportunities
There appears to be plenty of scope for Indonesia to expand its cooperation with the UAE in the area of food security. The Southeast Asian country was the seventh-largest food exporter in the world in 2020, while the UAE imports about 80 percent of its food requirements.Brazil’s InvestSP joins Global Logistics Passport initiative
InvestSP Corporation and the Global Logistics Passport initiative have signed a Memorandum of Understanding or MoU for better shipping and logistics.Saudi EXIM Bank and SMBC sign MoU to streamline businesses
The Saudi Export-Import Bank and Sumitomo Mitsui Banking Corporation (SMBC) have signed an agreement under which the two will work toward providing more financial solutions to Saudi and Japanese exporters and importers, streamlining business and reducing risk for both sides. In a statement, Saudi EXIM Bank said the MoU is...
Bahrain national-origin exports grow to $3.12bn in Q3 2021
Bahrain’s imports grew 16 percent, but its export of national origin ballooned 76 percent in the third quarter of 2021.Saudi EXIM Bank joins Berne Union
This will help the bank address major issues in export credit.
OFID to support Paraguay SMEs, agriculture
OFID has signed a term loan agreement for $30 million with Banco Regional of Paraguay, the third of its kind to the country. Proceeds from the first tranche were loaned to the agriculture sector. The second facility provided 53 sub-loans to Paraguayan enterprises for international trade finance purpose.Regional divergences mark global trade rebound: WTO
Supply-side issues such as semiconductor scarcity and port backlogs may strain supply chains and weigh on trade in particular areas, but they are unlikely to have large impacts on global aggregates. The biggest downside risks come from the pandemic itself.
