The Asian Development Bank survey found that rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity of banks to deliver trade financing. But at the same time, rebounding strongly after the COVID-19 pandemic, global goods exports grew in 2021 and 2022 at 26.6% and 11.5%, respectively.

Tehran, Iran - The CEO of Iran’s largest car manufacturing company, IKCO (Iran Khodro Industrial Group), said that his company will import the first batch of electric vehicles (EVs) bought from China’s Dongfeng Motor Corporation. IKCO’s CEO Alimardan Azimi said on Monday that EV imports by the company will amount...

Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, led the UAE delegation to Jakarta, Indonesia, the host of ASEAN Business and Investment Summit.

"The foreign minister and I agreed that we should work together to increase the number of direct flights, the tourism, the trade volume, the investment," Eli Cohen said during a ceremony to inaugurate Israel's new embassy. The embassy in the capital Manama will replace the first embassy Israel opened in...

Tehran, Iran-- Iran's President Ebrahim Raisi expects cooperation between his country and Turkey to grow during the "new term" of Turkey's President, Recep Tayyip Erdogan. The president made the remarks during a meeting with with the visiting Turkish foreign minister and his accompanying delegation in Tehran on Sunday. Referring to...

Tehran, Iran -- Iran and Turkey target $30 billion in annual trade in their endeavor to broaden political and economic relations, Iran's Foreign Minister Hossein Amirabdollahian said Sunday. Speaking at a joint press conference with his Turkish counterpart Hakan Fidan, held in Tehran on Sunday, Amirabdollahian said they have held...

AMMAN, JORDAN - Amman Chamber of Commerce (ACC) and the Iraqi Embassy here agreed to open Iraqi Trade Center at ACC's headquarters ahead the end of 2023. During his meeting with Chargé d'Affairs at Iraqi Embassy, Munif Ali Hussein, ACC Head, Khalil Haj Tawfiq, said Iraq is a "key" trade...

DUBAI, UAE – Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade discussed deeper economic collaboration, including the Comprehensive Economic Partnership Agreement (CEPA) with Damien O'Connor, New Zealand's Minister of Trade and Export Growth here. During the meeting, which came as part of a visit to...

Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 19.6 billion ($5.38 billion) in July 2023, a decrease of about QR 15.1 billion or 43.5 percent compared to July 2022, and an increase of nearly QR 2.2...

Pact to enhance commercial activities between the two.

Sharjah, UAE - Expo Centre Sharjah said it will host 63 percent more events in the last quarter of 2023, compared to last quarter of 2022. The Center will host 18 economic, trade, and cultural exhibitions, while during the same period last year, it hosted 11 such events. The events,...

Tehran, Iran - Iran’s membership in the BRICS group will lead to the promotion of exports and trade activities, an official was quoted as saying by local media reports. Deputy Chairman of Iran Chamber of Cooperatives for Legal Affairs Arsalan Ghasemi said that to tackle economic sanctions by the West...

AMMAN, JORDAN - President of the Jordan Chamber of Commerce (JCC) Khalil Al-Haj Tawfiq on Saturday discussed with Director General of the Federation of Yemen Chambers of Commerce and Industry (FYCCI) Taha Ahmed Mahbashi, mechanisms for activating work of the Joint Business Council. The Joint Business Council of the two...

JOHANNESBURG, SOUTH AFRICA - Algerian Minister of Finance Laaziz Faid discussed with South African Finance Minister Enoch Godongwan, ways to enhance economic cooperation between the two countries. During the meeting on Thursday, the two ministers discussed the available opportunities to enhance trade exchange and joint investment, with the aim of...

Argentina, Egypt, Iran, and Ethiopia are the four other member countries joining BRICS, underscoring its commitment to a more inclusive global stance, effective from January 2024.

Tehran, Iran -- The trade exchanges between Iran and China in the first seven months of the current year reached $8.540 billion, with China’s export of products to Iran accounting for $6 billion of it. The trade declined by 11 percent compared to the same period last year, China’s Customs...

Dubai, UAE - Dubai International Chamber hosted a B2B event during the Wuxi – Dubai Economic & Trade Exchange Conference to explore business and investment opportunities between Dubai and Wuxi City. The event was organized in partnership with the Wuxi Municipal Government and Wuxi National High-Tech Industrial Development Zone. It...

Tehran, Iran -- Trade between Iran and the European Union member states reached 2.3 billion euros ($2.5 billion) in the first half of 2023, according to Statistical Office of the European Union (Eurostat). Trade between Iran and Germany accounted for half the value, Tasnim News Agency reported, adding the Iran-EU...

Tehran, Iran-- China's ambassador to Iran has affirmed that his country's cooperation with Iran is at its best in various fields, voicing hope that both sides will further improve ties. Chang Hua made the remarks in a Saturday meeting with the governor of the northwestern Iranian province of West Azarbaijan...

Astana, Kazakhstan-- Saudi Arabia and Kazakhstan have pledged to strengthen cooperation in the fields environment, water, and agriculture. The strengthening of ties in these sectors came up in a meeting between President of Kazakhstan Kassym-Jomart Tokayev and Saudi Arabia's Minister of Environment, Water and Agriculture Abdulrahman bin Abdulmohsen Al-Fadhli. Both...

As Middle Eastern countries rise economically and their populations grow, Malaysia sees a bigger role in fulfilling the region's growing demand for edible oils and fats.

Abu Dhabi, UAE-- As the UAE President Sheikh Mohamed bin Zayed visits Ethiopia to strengthen relations with the African country, the non-oil trade between the two nations has expanded to US$1.4 billion in 2022. According to Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, the UAE’s...

The two leaders met in Addis Ababa and held talks on various aspects of bilateral relations, in addition to broader regional and international issues of mutual interest. The focus of the discussion was boosting areas of cooperation, including economic, investment, and development ties, across all sectors to increase prosperity of...

Ras Al Khaimah, UAE - Chinese companies are seeking business opportunities in the Ras Al Khaimah Economic Zone (RAKEZ) as they plan to navigate the business landscape and strategic investment opportunities in the UAE. Post its successful business tour to major Chinese cities earlier this year, the economic zone hosted...

Disney+ finished the quarter with 146.1 million subscribers, compared with just shy of 158 million in the first three months of this year, the group said. All but a sliver of the loss in Disney+ subscribers took place in India, where the entertainment titan early this year lost rights to...

Production limitations set by the OPEC + exporters "are continuing to offset concerns over demand," said Fawad Razaqzada, market analyst at Forex.com. Analysts have also cited the retreat in the dollar as a supporting factor for oil prices. Crude is denominated in the US currency.

Riyadh, Saudi Arabia--The Saudi Export Development Authority organized a trade mission to Japan under the theme of "Saudi Made" in Tokyo on Tuesday. The mission comes as part of the Saudi Export Development Authority efforts aimed at developing non-oil Saudi exports, stemming from its role in promoting exporters and their...

Washington, United States - The US trade deficit narrowed in June on a bigger pullback in imports than exports, according to government data released on Tuesday. The overall trade gap came in at $65.5 billion in June, down from a revised $68.3 billion figure in May, Commerce Department data showed. This...

The dollar remained steady with talk of yet another US interest rate hike, while oil prices retreated following disappointing Chinese trade data. Analysts warned that while the US economy remained in rude health after more than a year of rate hikes, fears of recession remained.

The drop in exports was bigger than expected and the heaviest since a 17.2 percent plunge in January-February 2020, when the economy came to a standstill in the early weeks of the Covid-19 pandemic. Apart from a brief rebound in March and April, exports have been in constant decline since...

Amman, Jordan--Trade between Jordan and Egypt expanded to $355.43 million in the January-May period of the current year, according to official figures. However, foreign trade data issued by the Department of Statistics (DoF) indicated that the national exports to Egypt in the first five months of 2023 dropped to reach...

New Delhi, India--The Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and operationalized last year is a “special achievement for India’s foreign and trade policy,” India's Minister of State for External Affairs, Dr. Rajkumar Ranjan Singh, told Lok Sabha, the lower House of India’s Parliament yesterday. He was answering...

BEIRUT, LEBANON - Lebanon on Thursday handed over to Italian authorities an alleged member of Italy's notorious 'Ndrangheta mafia wanted for involvement in the international drug trade, a judicial official said. Lebanese authorities "handed over Bartolo Bruzzaniti, 48 ... to an Italian security delegation which put him on a private plane...

Dubai, UAE--Trade in goods and services amounted to US$ 31 trillion in 2022, a 13% rise year-on-year. According to the World Trade Statistical Review 2023, issued by the World Trade Organization, while trade in goods exceeded pre-pandemic levels already in 2021, trade in services caught up in 2022. China remained...

Amman, Jordan-- Jordan and Cyprus are looking to boost cooperation in energy, trade, industry and tourism sectors in order to deepen the overall partnership between the two countries. In this regard, King Abdullah and Cyprus President Nikos Christodoulides met on Tuesday at Al Husseiniya Palace, and discussed enhancing cooperation in...

Amman, Jordan-- Exports to Greater Arab Free Trade Area (GAFTA) countries from Jordan increased 16.6%, amounting to $1.60 billion, compared to about $1.38 billion for the same period last year. Foreign trade data issued by the Department of Statistics (DoS) indicated a drop in the value of the kingdom's imports...

Profits in the second quarter were $1.9 bn.

Moscow, Russia - Trade turnover between Russia and Africa reached $18 billion in 2022, which is one of the results of the Russia-Africa summit in Sochi, Russian President Vladimir Putin said at a plenary session of the Russia-Africa forum. "I would like to note that last year trade turnover between...

Trade between GCC and ASEAN doubles, marking a new economic collaboration era as Saudi Arabia, Qatar, Oman, and UAE enhance ties by signing Treaty of Amity and Cooperation.

Baghdad, Iraq-- Jordan and Iraq have renewed pledge to strengthen economic cooperation in a meeting between the kingdom's Prime Minister Bisher Khasawneh, and his Iraqi counterpart, Muhammad Shia'a Sudani, on Monday. In a joint statement, both PMs reaffirmed the strategic nature of the Jordanian-Iraqi relationship and called for efforts to...

Authorities in Iraq -- a key conduit for the amphetamine-type drug -- regularly announce such operations in which large hauls of captagon are seized, often coming from Syria with which it shares 600-kilometre (370 miles) porous border.

Cairo, Egypt--Egypt and Indonesia will ramp up trade exchange as the two countries look to strengthen the overall ties. This came during the seventh round of political talks between Egypt and Indonesia which was held in Jakarta. Middle East News Agency (MENA) quoted the Egyptian Foreign Ministry as saying that...

Profit fell due to anemic M&A market, weakness in trading.

The $5.2bn factory is expected to create up to 4,000 jobs.

Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and Costa Rica have discussed ways to advance bilateral economic relations. The chamber also held fruitful discussions to strengthen commercial and industrial cooperation and investment among the private sector organizations, institutions, and events within the framework of the friendly relations binding...

Qatar’s emir Sheikh Tamim bin Hamad Al-Thani praised Turkey's efforts to improve the country's financial situation and reduce inflation rates through a comprehensive monetary policy. Erdogan recognized Qatar's inherent economic potential and its balanced growth rates, saying it was one of the most robust economies in the region.

Dubai, UAE-- Seeking to forge partnerships around the world, Dubai Chambers will host a two-day event in November this year called Dubai Business Forum, bringing together key public and private sector stakeholders. The event will be hosted at the city’s Madinat Jumeirah on 1st and 2nd November, 2023, under the...

Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs.

Doha, Qatar--Small and medium-sized companies in Qatar have signed deals worth $201 million during the first half of 2023, benefiting from the various services of the Qatar's Export Development & Promotion Agency (Tasdeer). In a report, Tasdeer highlighted the momentum witnessed by the participation of small and medium-sized companies in...

Jeddah, Saudi Arabia--Looking to consolidate trade and investment ties, the Gulf Cooperation Council (GCC) and Japan announced their resumption of the Free Trade Agreement (FTA) negotiations. In this regard the two sides signed a joint statement on the sidelines of the meeting held here today between Fumio Kishida, Prime Minister...