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The General Administration of Customs announced new measures to ease the management of processing trade, aimed at promoting economic stability and foreign trade growth.

In the second quarter of 2023, global exports of intermediate goods (IG) showed a continued downturn, falling by 8% compared to the same year, reaching a total of $2.3 trillion. This downturn is due to the decline in global consumer demand, which is mainly affected by high inflation and high interest rates, as well as stagnant commodity prices.

The Thai government recently launched a massive project worth $28 billion to build a “l(fā)and bridge” to circumvent the bustling Strait of Malacca. This initiative is expected to dramatically shorten shipping time between the Indian and Pacific Oceans while reducing transportation costs and have a profound impact on global shipping.

The impact of growth in U.S. oil exports on global oil markets, especially in the context of OPEC+’s production cuts, was examined, and market trends, price changes and geopolitical factors were analyzed on oil supply and demand.

Exploring the automated exporter identity certificate issuance process recently announced by the Indian Ministry of Commerce and Industry, this initiative aims to simplify export procedures, increase efficiency and enhance the credibility of international markets.

Recently, data released by the General Administration of Customs of China showed that Chinas steel exports were strong in the first ten months of 2023, rising by 34.8%, reaching 7473.2 million tons.