The EU Agriculture Commissioner revealed that in 2023, the trade volume of agricultural products between the EU and Russia increased significantly. Although the EU imposed some tariffs on Russian agricultural imports to slow down the import speed, the total trade volume did not change much, reflecting the principle of mutual benefit and win - win results in bilateral trade.
At the China Development Forum 2024, the president of Saudi Aramco put forward the vision of deepening cooperation with China in fields such as chemicals and advanced materials. Emphasizing that energy trade is the foundation, the cooperation will be expanded to low - carbon energy and cutting - edge technology cooperation to jointly promote industrial innovation and sustainable development.
Finlands major unions have extended large-scale strikes since March 11 due to deadlocked negotiations with the government over labor law amendments, causing port logistics paralysis and severely impacting import/export operations.
South Korea and the EU held the third round of digital trade agreement negotiations in Brussels, aiming to promote e-commerce development and build a digital trust environment. The talks focused on key issues such as tariff-free electronic transmissions and fair treatment of digital products, which have significant implications for global digital trade order.
South Koreas instant noodle exports surge, possibly indicating declining living standards amid global economic pressures. February exports reached $93 million, with the US, China, the Netherlands, and Japan as main destinations. Rising instant noodle demand is seen as an indicator of economic hardship.
The Netherlands agro-industrial exports to Russia have grown significantly in the past two years, particularly in livestock pharmaceuticals, vaccines, agricultural machinery, and flower exports. This trend, unaffected by EU sanctions, has sparked discussions about the effectiveness of the sanctions.
The EU has agreed to restrict the duty - free exports of some Ukrainian agricultural products to the EU market, including oats, corn, sugar, honey, eggs and poultry, but excluding wheat and barley. This is to ease the angry protests of European farmers over the influx of cheap Ukrainian agricultural products causing unfair competition. The EU also reserves the right to urgently cancel the tariff exemption, striving to balance supporting Ukraine and safeguarding the interests of local farmers.
Affected by U.S. sanctions on Russia, China-Russia trade growth slowed significantly in the first two months of 2024, with total trade volume increasing by 9.3% YoY, while banks tightened trade settlements.
The EU plans to impose heavy taxes on wheat from Russia and Belarus. This move may lead to a 50% price increase within Europe and also affect the global grain market.
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