Latest news with #InternationalTradeCentre
Yahoo
19 hours ago
- Business
- Yahoo
The Trump administration is delaying a 25% tariff on Chinese-made graphics cards
Graphics cards and motherboards assembled in China are avoiding President Donald Trump's import taxes, for now. In a three-page notice published Saturday in the Federal Register, the Office of the Trade Representative said it was 'appropriate' to extend a moratorium that won't subject vendors of electronics equipment to tariffs on graphics cards and graphics processing units. The measure stems from a long-running Section 301 investigation into Chinese economic policies and whether they are harming American companies. That federal probe started under the first Trump administration, and it would apply a 25% tariff if officials conclude that Chinese companies had an unfair advantage. The 25% tariff has been inactive due to a string of reprieves from both the Biden and Trump administrations. China remains the world's largest electronics manufacturer, according to the International Trade Centre; the nation is still subject to a minimum 30% import tax by the Trump administration, barring some exemptions. Major tech companies including Apple (AAPL), Nvidia (NVDA) and Microsoft (MSFT) were spared the brunt of Trump's 'reciprocal' tariffs in April. A federal court battle is now brewing over the fate of those tariffs. For the latest news, Facebook, Twitter and Instagram.
Euronews
a day ago
- Business
- Euronews
Costa Rica's quiet rise as Latin America's high-tech hub
Long defined by its lush tropical rainforests and agricultural exports of coffee, bananas, and sugar, Costa Rica is quietly reinvented itself, shifting away from an agrarian economy to become a global powerhouse of high-tech industries – more dynamic and globally connected than ever before. This article digs deeper into Costa Rica's modern transformation, showing how environmental integrity and economic ambition can move in step as it reframes its image abroad and redefines what a tropical economy can achieve on the world stage. In a year when growth slowed or reversed across many OECD countries, Costa Rica defied the trend, recording GDP growth of 4.3 percent in 2024. The nation's sustained growth comes as the result of three decades of strategic transition – all underpinned by an open economy and a green ethos. During this time, Costa Rica has shifted its focus from commodity exports to a diversified model that prioritises innovation, social empowerment and sustainability. In 2024, it became the second-largest exporter of high-tech goods in Latin America, after Mexico, spotlighting the country's advanced manufacturing success – from microchips to medical instruments. This repositioning is reflected in the country's national brand: essential COSTA RICA. The brand's mission is to shape the country's export, tourism and investment promotion strategies around shared values of sustainability, social responsibility, innovation and excellence. This national alignment has gained international recognition, with awards from the International Trade Centre and City Nation Place. Over 760 companies worldwide have been certified by essential COSTA RICA, marking their alignment with Costa Rica's national values. In 2024, Costa Rica recorded over €28 billion in total exports — an 8 percent rise on the previous year. That figure includes €18.5 billion in goods and €9.9 billion in services, equating to 32 percent of GDP and supporting 700,000 jobs. Most strikingly, medical devices now account for 44 percent of all goods exports, with continued double-digit growth. Companies like Boston Scientific, Medtronic and Abbott have turned Costa Rica into a regional hub for surgical instruments, catheters and diagnostic equipment, while long-term partners such as Intel Corporation continue to reinvest in advanced semiconductor manufacturing and R&D facilities. But the world still has a taste for Costa Rica's sweetest exports. Over €1.4 billion of Costa Rican pineapples are exported around the world each year, with agricultural exports accounting for 18 percent of the country's total goods exports in 2024, 7 percent up from the previous year. As well as signalling a diverse rural economy, Costa Rica's agricultural market is also readily invested in sustainable farming practices, a strong indicator of future market stability. If the country's manufacturing story is surprising, its tourism evolution is equally impressive. While Costa Rica's traditional eco-tourism sector continues to attract nature lovers and wellness seekers from around the world, the sector is expanding. According to Costa Rica's investment agency Procomer, tourism-related investment more than doubled in 2024, accommodating new forms of engagement such as regenerative travel, scientific tourism, and remote working infrastructure for the global digital workforce. Under progressive regulations, new tourism developments must meet strict environmental standards, helping ensure sector growth benefits local communities and ecosystems in the long term. Perhaps Costa Rica's biggest leap, however, is invisible: digital services. In 2024, 58 percent of Costa Rica's service exports were knowledge-intensive, spanning IT, cloud computing, analytics, business services, and telecoms — much of it delivered to clients in North America and Europe. Costa Rica's consistent investments in education and digital infrastructure have resulted in a tech-savvy, bilingual workforce. The country's universities and training institutions work closely with multinational firms to prepare students for roles in finance, analytics, and tech, further positioning Costa Rica as a high-trust environment for service trade. The investment is certainly paying off – its citizens now have access to clean, high-margin job opportunities with global reach. Growth also expands beyond the capital region. A fifth of companies preparing to export are now based outside the Greater Metropolitan Area, a sign of decentralisation that many regional economies in Latin America struggle to achieve. Inclusive opportunities are another clear sign of the nation's progressive ambition. Over half of exporting companies participating in Costa Rica's trade programmes or initiatives are led by women. This is the result of concerted national efforts to embed inclusion in trade and investment strategies — and it's shifting the makeup of who participates in global markets. For European businesses and buyers, Costa Rica offers something few other suppliers in the region can: sustainability with structure. The country benefits from a free trade agreement with the EU, which streamlines trade and reduces barriers, while bilateral partnerships with several member states serve to strengthen cooperation and investment ties. In alignment with the EU's sustainability rules and consumer behaviour, Costa Rica's exports offer traceability, low-carbon production and environmental guarantees. The majority of its factories are already powered by renewable energy and widespread use of green-certified packaging shows a country following environmental practices that not only meet current regulations but anticipate future requirements. Costa Rica's rise as a trade power comes without fanfare, but with integrity. It has emerged through long-term thinking, values-led development and a clear sense of what kind of nation it wants to be. For tourists, it remains a place of wonder. For investors and tech firms, it's something else entirely: a reliable, forward-facing partner with a competitive edge. In a shifting global landscape, Costa Rica isn't just keeping pace. It's setting the tone. Read more about Costa Rica's transformation story at
Zawya
01-05-2025
- Business
- Zawya
Guiding women's businesses in Gambian public procurement
Globally women own one-third of businesses but receive only 1% of public contracts. The reality in The Gambia is no different. Women entrepreneurs face limited access to information, complex tendering processes and structural barriers that prevent them from competing for government contracts. This is why the International Trade Centre (ITC) and the United Nations Population Fund (UNFPA), in partnership with the Government of The Gambia and key stakeholders, launched two major initiatives. The Public Procurement Guide for Women Entrepreneurs gives the knowledge and tools needed to compete and win government contracts. The new guide simplifies procurement processes, explaining the rules, requirements and strategies to secure contracts. 'The development of this guide marks a significant step in our journey toward gender-inclusive economic development,' says Baboucarr O. Joof, Minister of Trade, Industry, Regional Integration and Employment. 'It is designed to serve as a vital resource, offering clear guidance on the purpose, scope and application of public procurement law and regulations in The Gambia.' Ngoneh Panneh, ITC Senior Technical Coordinator in The Gambia, explains: 'This guide will serve as a critical tool for women entrepreneurs and small and medium-sized enterprises, helping them navigate government tenders and access opportunities that have long been out of reach.' Developed under the ITC SheTrades Initiative, with co-funding from the European Union Youth Empowerment Project - Tourism and Creative Industries and GIZ, the guide was produced in partnership with the Ministry of Trade, Industry, Regional Integration and Employment, the host institution of the SheTrades Gambia Hub. The #GambiaPrivateSector4Equality campaign rallies businesses to take concrete action in advancing women's rights, health and economic participation. It hopes to drive real change within corporate culture. 'By championing women's health and rights, and strategically investing in women-led businesses, we are co-creating a future where communities are stronger, businesses thrive and gender equality fuels economic progress,' says Rose Sarr, UNFPA Country Representative. Fatoumata Jawara Dukureh, CEO of Maa Group and chairperson of the Women Business Advocacy Group, says: 'We reaffirm our commitment to advancing women's rights and economic participation. This is not just about policies—it's about creating an ecosystem where women thrive without barriers, where the private sector becomes a force for inclusion and where no woman is left behind.' Distributed by APO Group on behalf of International Trade Centre.
Zawya
30-04-2025
- Business
- Zawya
Avocado sector platform in Uganda to propel growth and unlock global market opportunities
Key public and private sector stakeholders convened in Kampala to validate the national avocado sector roadmap and action plan for the next three years. The milestone marks the culmination of a series of collaborative efforts led by the Ministry of Agriculture, Animal Industry and Fisheries (MAAIF), with support from the International Trade Centre (ITC) through the European Union (EU)-funded EU-East African Community (EAC) Market Access Upgrade Programme (MARKUP II). Building on the first consultative meeting held in November 2024, two informal meetings were held in February and March 2025 to review and refine the roadmap. The platform's formalization under MAAIF leadership reflects strong public-private commitment to transforming Uganda into a competitive avocado exporter. Key steps have been taken to operationalize the platform, including preparation of a draft secretariat budget and exploration of funding opportunities. A public-private partnership model is envisioned, with MAAIF hosting the platform and private sector partners supporting the secretariat. An Expression of Interest for the secretariat was shared with industry associations and will be soon finalized. MAAIF will officially activate the platform and convene its first formal meeting to elect a Chair, finalize the work plan, set key performance indicators for the platform. The Uganda Avocado Roadmap prioritizes several transformative actions.: Improved Hass seedling distribution at preferential rates; Promotion of GAP certification through avocado associations; Establishment of a hub-and-spoke model with commercial farmers and cooperatives to serve as input supply, aggregation, and learning centers; Creation of an avocado export consortium for collective international representation and standards compliance; Investment in affordable packaging solutions and cold-chain for fresh exports; Possible development of an avocado oil refinery and valorization of waste (e.g., seed husks, pulp residue) into animal feed. The validated roadmap sets a clear direction for the sector, positioning Uganda to increase avocado exports, enhance farmer livelihoods, and contribute to agro-industrial transformation. Distributed by APO Group on behalf of International Trade Centre.
Al Etihad
25-04-2025
- Business
- Al Etihad
Abu Dhabi Customs showcases AI-driven digital transformation to Jordanian delegation following International Trade Centre recommendation
25 Apr 2025 12:00 ABU DHABI (ALETIHAD)The General Administration of Abu Dhabi Customs hosted a high-level delegation from the Jordan Customs Department for a three-day study visit. This visit, organised by the International Trade Centre in Geneva (ITC) as part of a technical support programme for Jordanian Customs, focused on exploring best practices and leading customs projects implemented in Abu Dhabi, based on modern technologies and artificial intelligence applications. This is particularly in the field of customs risk management and is in line with international standards to facilitate cross-border trade and enhance the efficiency of supply Lahej Al Mansoori, Director General of Abu Dhabi Customs, welcomed the visiting delegation headed by Major General Ahmed Mohammed Al-Akalik, Director General of the Jordan Customs Department, during their reception at the headquarters of Abu Dhabi meeting was attended by a representative of the International Trade Centre. Both sides discussed ways to enhance cooperation and exchange expertise to support the achievement of shared visions and objectives in developing customs systems and improving operational Jordanian delegation's visit to Abu Dhabi Customs came upon the recommendation of the International Trade Centre, in recognition of Abu Dhabi Customs' outstanding achievements in digital transformation. Its experience is considered among the most advanced and unique models globally in the implementation and development of best customs practices within an integrated system that supports the business ecosystem in Abu Dhabi and the visit included detailed presentations on operational customs systems, in addition to field visits during which the delegation was briefed on Abu Dhabi Customs' new Strategic Plan 2024–2028 and the roadmap for strategic projects designed to empower customs operations in the emirate. They were also introduced to the Digital Transformation Strategy and the advanced solutions delivered to the customs and trade community at both local and international delegation also learned about key digital initiatives supporting non-oil economic growth, including the DHAFRA Advanced Data and Future Reporting Canter, powered by Artificial Intelligence, and the integrated Customs Risk Management System – Lahej Al Mansoori said: 'Abu Dhabi Customs is committed to building an innovative customs model that supports the business environment, meets the aspirations of the wise leadership, and translates Abu Dhabi's vision for sustainable economic leadership. This is achieved through optimal investment in technology and knowledge, strengthening regional and international partnerships, and providing a smart infrastructure based on flexibility, precision, and efficiency.'Al Mansoori emphasised that digital transformation and the adoption of artificial intelligence tools are no longer optional, but rather a fundamental pillar to ensure sustainable economic growth, support the global competitiveness of Abu Dhabi and the UAE, and reinforce their position as attractive destination for business and General Ahmed Mohammed Al-Akalik expressed his sincere thanks and appreciation to Abu Dhabi Customs for their generous hospitality and valuable engagement through advanced expertise and knowledge. Al-Akalik also recognised the exchange of adopting and utilising cutting-edge technologies and best practices in customs operations and performance enhancement. This has contributed to consolidating Abu Dhabi Customs' position on the global level, as acknowledged by the International Trade Centre, whose support was instrumental in the success of this visit. He also highlighted the Jordan Customs Department's interest in continuing future cooperation and coordination with Abu Dhabi Customs to exchange expertise in ways that serve shared goals and support economic growth across the region. Raghad Altalli, Programme Lead and Senior Trade Facilitation Advisor at the International Trade Centre, said that the selection of Abu Dhabi Customs as a destination for this study visit stems from the global recognition of its outstanding achievements in digital transformation. Altalli praised the customs projects implemented in Abu Dhabi, which have made it as a model to be followed and an inspiring benchmark for customs authorities and the global trade and logistics ecosystem in keeping pace with future developments. Altalli expressed her gratitude for the cooperation, high professionalism, and generosity of Abu Dhabi Customs leadership in sharing their valuable expertise at the international level.
