International Trade: GK, Current Affairs, Questions, Trivia and News

US drops Currency Manipulation Charge against China ahead of Trade Deal

According to the semi-annual report on Macroeconomics and Foreign Exchange Policies published by the United States Treasury Department on Monday 13th January 2020, United States has dropped its charges of designating China as a currency manipulator as no major US trading partner was reported as currency manipulator in the report which came less than 48 ..

US initiates new anti-dumping duty

The US has initiated new antidumping duty and countervailing duty investigations to determine whether forged steel fittings from India and Korea are being dumped there and to find if producers in India are receiving unfair subsidies. In 2018, imports of forged steel fittings from India and Korea were valued at an estimated $92.6 million and ..

Ministry of Defence approves issuance of two OGELs for export of certain parts and components

Defence Minister Rajnath Singh has approved issuance of two Open General Export Licences (OGELs) for export of certain parts and components and intra-company transfer of technology to select countries. This decision is expected to give a boost to defence exports and enhance Ease of doing Business (EDB). The transfer of technology to the countries is ..

Anti-Dumping Duty Imposed on certain Electrical Insulators from China

The Ministry of Finance has approved imposing of anti-dumping duty on import of electrical insulators (glass or ceramics/ porcelain) from China. What are electrical insulators? Electrical insulators are typically used in bushings, disconnectors, circuit breakers, transformers, power transmission and distribution lines, including railways. Anti-dumping Duty on Electrical Insulators from China The anti-dumping duty will be ..

Nirvik: New Export Credit Insurance Scheme

The Ministry of Commerce & Industries through the Export Credit Guarantee Corporation (ECGC) has launched a new Export Credit Insurance Scheme (ECIS) called NIRVIK to enhance loan availability and ease the lending process. What is Export Credit Insurance? Export credit insurance (ECI) protects an exporter of products and services against the risk of non-payment by ..

Digital Certificate of Origin System Launched

The Ministry of Commerce and Industries has launched the common digital platform for the issuance of certificates of origin to ease the regulatory burden on the exports. What is a certificate of origin? The Certificate of Origin is used to certify that the export products are obtained, produced or manufactured in India. Currently, it is ..

African Continental Free Trade Agreement and India

At the summit of the African Union (AU) held at Niamey, the capital of the Niger Republic 54 of 55 of its member states signed the African Continental Free Trade Agreement (AfCFTA) for goods and services and 27 countries have already ratified it. The AfCFTA would create an African Common Market of 1.2 billion people and ..

SCO: Bishkek Declaration

The Bishkek Declaration released at the Shanghai Cooperation Organization (SCO) urged the international community to strengthen global cooperation in efforts against terrorism without politicization and double standards. Countering Terrorism and Promoting Cooperation The declaration called for enhanced cooperation to promote peace and development. The situation in global politics and economy remains tense. The process of ..