HONG KONG — Australia is preparing for a free trade agreement with its largest trading partner China that is se
International Trade News
Americans love imported footwear. They bought 2.3 billion pairs of shoes, boots, sneakers, sandals and sundry other styles last year. That comes out to 7.3 pairs for every man, woman and child. While not enough to make Imelda Marcos green with envy, it’s enough to turn a lot of footwear executives gray with worry about where in the world to get them made at a cost and quality that will entice Americans to buy more.
The government of India wants the country to begin manufacturing shipping containers itself as India tries to reform its transportation sector to make it more alluring for manufacturers.
India’s merchandise exports to the rest of the world fell for the seventh successive month in June, representing a serious setback for New Delhi’s long-term goal of doubling its global outbound trade over the next five years.
Australia’s wine industry has reported a 32 percent increase in the value of its wine exports to China in the past year, a trade that was worth more than $200 million in the 2014-15 financial year that ended on June 30.
China’s government has never been slow to pile into its markets and even as improving June exports halted a three-month decline, Beijing this week issued a package of support measures for the industry.
The South Australian potato industry has embarked on a state-funded waste-reduction project that could save growers millions of dollars while boosting exports to China, India and Indonesia.
The benefits for containerized trade have not yet been clearly spelled out in China’s One Belt, One Road plan, but the scale of the initiative and the economic figures involved should make compelling reading for Asia-Europe shippers.
U.S.-Asia containerized ocean trade increased 2.1 percent to nearly 20.5 million 20-foot-equivalent units in the 12 months ending March 31 compared to the same period a year earlier, according to data from PIERS, a sister product of JOC.com within IHS Maritime & Trade.
Brazilian fresh beef exporters will begin shipping to the United States for the first time in 15 years in September, paving the way for forecasted volume of up to 9,000 twenty-foot-equivalent units annually.