In June 2023, Saudi Arabia’s trade balance achieved a surplus of approximately SAR 38 billion (around $10 billion), as reported by the General Authority for Statistics (GASTAT). The nation’s trade surplus was narrowed to SAR 29.5 billion in May 2023, marking a two-year low. This was a result of the decrease in oil exports following… Continue reading Saudi Arabia’s trade surplus reaches $10bn in June, increasing from May slump
Category: Non-Pharmaceutical Chemicals
Non-Pharmaceutical Chemicals
What is structured trade finance (STF)?
Structured trade finance is a type of debt finance that structures trade finance products from across the supply chain together. Learn everything you need to know about structured trade finance here.
The race is on: Will China dominate EV production, or will the EU and Japan rise to the challenge?
The race is on to lead the world in electric vehicle (EV) production. Will China dominate, or will the EU and Japan forge ahead?
UAE signs landmark $100bn annual bilateral trade pact with India
India and the UAE have signed a major new trade and investment pact that will eventually remove all tariffs on all goods from both nations. The Comprehensive Economic Partnership Agreement (CEPA), as the pact is known, is expected to boost annual bilateral non-oil trade from $60 billion to $100 billion within the next three to… Continue reading UAE signs landmark $100bn annual bilateral trade pact with India
BADEA and ITFC Intensify their Support to the African Countries to Fight COVID-19 Pandemic through the Arab Africa Trade Bridges (AATB) Program
[box] Jeddah- 02 November 2020 –The Arab Bank for Economic Development in Africa (BADEA) intensifies its partnership with the International Islamic Trade Finance Corporation (ITFC) to support African Countries to fight COVID-19 through a joint program under the Arab Africa Trade Bridges (AATB). This took place during a signing ceremony at the Headquarters of the International… Continue reading BADEA and ITFC Intensify their Support to the African Countries to Fight COVID-19 Pandemic through the Arab Africa Trade Bridges (AATB) Program
UK and Ukraine sign Political, Free Trade and Strategic Partnership Agreement
[box] The agreement will ensure ambitious cooperation in political, security and foreign matters with Ukraine, while also securing continued preferential trade for businesses and consumers. [/box] The UK Prime Minister Boris Johnson today signed an agreement with President Volodymyr Zelenskyy of Ukraine to strengthen the political and trade ties between the two countries. Boris Johnson… Continue reading UK and Ukraine sign Political, Free Trade and Strategic Partnership Agreement
Afreximbank provides $100 million overdraft facility for African states to facilitate online procurement of COVID-19 supplies
[box] Cairo, 29 September 2020: – African Export-Import Bank (Afreximbank), the pan-African multilateral EXIM bank, announces $100 million financing to enable its Member States to procure COVID-19 related medical resources through the Africa Medical Supplies Platform (AMSP). [/box] The funding is available to African governments to acquire medical supplies through the AMSP in the form of… Continue reading Afreximbank provides $100 million overdraft facility for African states to facilitate online procurement of COVID-19 supplies
AFREXIMBANK and ITFC Partner with ARSO to Facilitate Intra-African Trade in Pharmaceuticals and Medical Devices, under the Umbrella of the AATB Program
[box] The new initiative aims to harmonise African standards for pharmaceuticals and medical devices thereby enhancing intra-African trade, reducing substandard counterfeit products, and building resilient regional health systems. [/box] (Jeddah, Cairo, Nairobi, 14 September 2020) – The African Export-Import Bank (Afreximbank) and the International Islamic Trade Finance Corporation (ITFC), have partnered with the African Organisation… Continue reading AFREXIMBANK and ITFC Partner with ARSO to Facilitate Intra-African Trade in Pharmaceuticals and Medical Devices, under the Umbrella of the AATB Program
UK and India agree to deeper trading relationship
The UK’s International Trade Secretary Liz Truss and India’s Minister of Railways and Commerce & Industry Piyush Goyal agreed to explore opportunities for expanding and deepening our trade relationship. This will include an Enhanced Trade Partnership as the first step on a wider roadmap for a deeper trade partnership, and subject to progress could lead… Continue reading UK and India agree to deeper trading relationship
WTO issues latest edition of World Tariff Profiles
The WTO issued on 6 July the latest edition of its annual publication World Tariff Profiles, which provides comprehensive information on the tariffs and non-tariff measures imposed by over 170 countries and customs territories. The publication is jointly prepared by the WTO, the United Nations Conference on Trade and Development and the International Trade Centre.… Continue reading WTO issues latest edition of World Tariff Profiles
China and UK: what could a Chinese trade and economic backlash look like?
The UK’s response to new security laws in Hong Kong and the decision to offer a route to citizenship for almost three million Hongkongers has been met frostily by China. Last week, China said it will take counter-measures against the UK should it grant residency to Hongkongers, promising that the UK would “bear all consequences”. Yesterday, China’s ambassador to… Continue reading China and UK: what could a Chinese trade and economic backlash look like?
ADB Study Maps Supply Chains for Key Products in COVID-19 Response
MANILA, PHILIPPINES (28 May 2020) —The Asian Development Bank (ADB) has released a landmark study which maps supply chains for critical products in the global response to the novel coronavirus disease (COVID-19) pandemic, clearing the way for the identification and removal of blockages in their production and distribution. The interactive maps will enable banks, investors, governments, and healthcare… Continue reading ADB Study Maps Supply Chains for Key Products in COVID-19 Response
UK Global Tariff backs UK businesses and consumers
[box] The Government has announced the UK’s new MFN tariff regime, the UK Global Tariff (UKGT) [/box] The Government has this morning (19 May) announced the UK’s new MFN tariff regime, the UK Global Tariff (UKGT). This will replace the EU’s Common External Tariff on 1 January 2021 at the end of the Transition Period. Our… Continue reading UK Global Tariff backs UK businesses and consumers
ITFC: Safeguarding SME Resilience in the Face of a Global Pandemic
Now is the time for trade finance institutions to take the lead in efforts to strengthen SME resilience and leave them in a position to be able to bounce back in the aftermath of the pandemic.
ADB’s Trade Finance Program Supports Medical Supplies to Combat Pandemic in Sri Lanka
[box] COLOMBO, SRI LANKA (6 May 2020) — The Asian Development Bank (ADB) has provided a guarantee for a $25 million trade loan to the State Pharmaceuticals Corporation of Sri Lanka (SPC) to purchase medical supplies as part of the country’s response to the novel coronavirus disease (COVID-19) pandemic. [/box] The supplies, to be purchased… Continue reading ADB’s Trade Finance Program Supports Medical Supplies to Combat Pandemic in Sri Lanka