The future of global trade: UNCTAD announces first-ever Global Supply Chain Forum (link)
In a world facing unprecedented challenges, the Global Supply Chain Forum (GSCF) 2024 is set to provide a crucial platform for leaders and experts to discuss the changing landscape of international trade and logistics.
This first event of its kind, organized by the United Nations Conference on Trade and Development (UNCTAD) in collaboration with the Government of Barbados (Bridgetown, 21-24 May 2024), aims to shape the future of global trade in a rapidly evolving world.
Borderlands Mexico: Container shipments from China to Mexico skyrocketed in January (link)
China’s container exports to Mexico surged nearly 60% year over year (y/y) in January, according to global freight rate intelligence platform Xeneta.
China-based shippers moved 117,000 twenty-foot equivalent units during the month compared to 73,000 TEUs in January 2023.
Mexico Could be Back Door for Chinese Imports into US (link)
Growth in demand for container shipping imports from China into Mexico in January 2024 increased by 60% compared to 12 months ago, further fuelling suspicions it has become a back door into the US.
According to analysts at Xeneta, 117,000 TEU was shipped in January of this year compared to 73,000 TEU in January 2023 (source: Container Trades Statistics).
Annual growth in container shipping between China and Mexico had already increased by 34.8% in 2023 compared to just 3.5% in 2022.
Cattle Imports from Mexico (link)
U.S. cattle and beef trade with Mexico has evolved a great deal over many years. Mexico became one of the major beef export destinations about 25 years ago. In the last dozen years, Mexico has become one of the major beef import sources for the U.S. as beef trade evolved from simply supplementing deficit beef production in Mexico to bilateral, product specific trade between the two countries.
India: Full speed ahead (link)
In 2023, India managed to grow 7.7%, not only beating all other major economies but exceeding the forecasting community’s expectations and accelerating into the second half of the year as the rest of the world slowed. There is a good chance that India will see a similarly impressive performance in 2024.
U.S. to finance $500m in green exports to Vietnam (link)
Leaders of the Export-Import Bank of the United States (EXIM) and the Vietnam Development Bank (VDB) have signed a $500 million Memorandum of Understanding (MOU).
The agreement will support US exports to Vietnam, specifically targeting green infrastructure, climate adaptation, and broader green economy transitions.
“The MOU we signed demonstrates our shared commitment to strengthening the U.S.-Vietnam commercial relationship and dedication to creating opportunities that strengthen the economies of both our nations,” stated EXIM President and Chair Reta Jo Lewis.
Deal to extend trade support for Ukraine with safeguards for EU farmers (link)
The temporary suspension of import duties and quotas on Ukrainian agricultural exports to the EU will be renewed for another year, until 5 June 2025, to support Ukraine amidst Russia’s continuing war of aggression.
The Commission can take swift action and impose any measures it deems necessary should there be significant disruption to the EU market or the markets of one or more EU countries due to Ukrainian imports.
The regulation also provides for an emergency brake for particularly sensitive agricultural products, namely poultry, eggs, and sugar. MEPs secured the expansion of this list to include oats, maize, groats and honey. They also attained firm commitments from the Commission to take action if there is a surge of Ukrainian imports of wheat. The reference period for triggering the emergency brake will be 2022 and 2023, meaning that if imports of these products surpass the average volumes of these two years, tariffs would be re-imposed. EP negotiators also ensured that the Commission would act faster – within 14 days instead of 21 days – if trigger levels for the automatic safeguards were reached.
Turkmenistan and Italy Expand Transport Cooperation (link)
A Turkmen delegation led by the Deputy Chairman of the Cabinet of Ministers, Minister of Foreign Affairs of Turkmenistan, Rashid Meredov visited Italy on March 20th for negotiations with the Deputy Prime Minister and Minister of Foreign Affairs of Italy Antonio Tajani.
The foreign ministers discussed bilateral relations in political, diplomatic, trade, economic, cultural and humanitarian sectors.
Malaysia’s February exports down 0.8%, imports up 8.4% (link)
MALAYSIA’S exports declined by 0.8 per cent year on year (yoy) to RM111.3 billion (S$31.6 billion) in February, dragged down by lower shipments of electronic and petroleum products, the Department of Statistics Malaysia said on Monday (Mar 18).
The decline missed the 2.4 per cent growth projected by 12 economists in a recent Reuters poll.
Ukraine may expand fresh apple exports and imports of exotic fruits thanks to annihilation of the Russian Black Sea Fleet (link)
The inability to send and receive container cargo at Ukrainian ports after the start of Russia’s full-scale invasion of Ukraine has been a major obstacle for fruit and vegetable traders. According to the results of EastFruit retail audits, until 2022, Ukraine was the country with the lowest retail prices for most items of imported vegetables and fruits among all countries in the region, mainly due to very efficient logistics. However, currently both bananas and citrus fruits in Ukraine are more expensive than usual, resulting in billions of additional spendings for local consumers already suffering from the Russian war.
