trade

Carney signals progress on Canada-US trade deal talks as midterms loom | US Midterm Elections 2026 News

Canadian PM Carney announces progress in Canada-US trade deal talks ahead of US midterm elections on November 3.

Canadian Prime Minister Mark Carney has announced progress towards a future trade deal with the United States, which could help ease tensions between the two North American neighbours.

The Sunday announcement came just two days before the November 3 US midterm elections, which will determine control of the US Congress.

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“Good conversation with US President Donald Trump on the future of Canada-U.S. trade,” Carney posted on X on Sunday.

Ties between Ottawa and Washington have been strained by an escalating trade war, with Canada and the US imposing billions of dollars in tariffs on each other’s goods in recent months.

“Teams from both countries will be working in the coming weeks to deliver that outcome,” Carney said. “This builds on recent constructive discussions on the outlines of a mutually beneficial trade deal.”

In his second term, Trump has upended global trade by imposing tariffs on many of the US’s allies, including Canada – one of the US’s biggest trading partners.

In August, high-level trade talks between Ottawa and Washington broke down, and Trump imposed a 50 percent levy on $20bn of Canadian goods, or 5.5 percent of its exports. Canada responded with equivalent tariffs on US steel, dairy, appliances, farm equipment, pulp and paper, and electronics.

Trump said last week that he expected a new trade agreement with Canada to be reached “pretty soon”, but offered no details.

The trade tensions with Canada have become an issue in the midterm elections, particularly in Michigan and Maine, where Republican candidates have faced pressure over tariffs that have hurt local businesses.

Canada has sought to diversify its trade options and recently welcomed a European Union offer to become an “associate member”.

Carney praised the proposal’s ambition, describing his goal as a “unique alliance” rather than conventional EU membership.

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Burnham opens door to formal apology for Britain’s slave trade | Slavery News

The prime minister has ruled out financial reparations despite longstanding Caribbean demands ahead of Commonwealth leaders’ summit.

Britain’s prime minister has opened the door to a formal apology for its role in the transatlantic slave trade, while ruling out financial reparations.

Andy Burnham set out his position in a Guardian article on Friday, ahead of a Commonwealth leaders’ summit  in Antigua and Barbuda on Sunday.

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The Commonwealth comprises 56 countries, mostly former British colonies, whose Caribbean members have long pressed Britain to acknowledge slavery’s legacy and offer redress.

Burnham offered structured talks with countries and campaign groups affected by slavery, including discussions on whether Britain should issue an official state apology.

“Listening to calls for a formal apology on behalf of the British state will form an important part of this process and I am open to them,” Burnham wrote.

He expressed “sorrow and regret” for the suffering of millions of enslaved people, but rejected calls for financial compensation.

“I do not think that British people today can be held liable for historical wrongs, however heinous, that happened in a different age under different laws and in which they played no personal part,” he said.

The stance maintains the position of previous British governments, despite his willingness to discuss an apology.

Instead, he proposed an international effort to ease the debt burden on poorer nations by extending repayment periods and cutting interest rates.

Burnham also said that former British Prime Minister Gordon Brown will assist with the initiative, adding that more than 40 percent of the world’s poorest and most vulnerable countries spend more on debt interest than on healthcare.

Barbadian Prime Minister Mia Mottley welcomed the opening for talks but reiterated her government’s position on reparations.

In a statement reported by the Guardian on Saturday, she said cooperation could also cover healthcare, education, development and fairer borrowing terms.

Antigua’s Prime Minister Gaston Browne, who is hosting the summit, welcomed the debt initiative and promises of cooperation on renewable energy.

CARICOM, the regional bloc of Caribbean countries, has drawn up a 10-point plan for reparations.

Its demands go beyond payments to include an apology, support for health and education, as well as measures to address the economic and social damage left by slavery.

The dispute surfaced at the last Commonwealth summit in Samoa in 2024, when leaders called for discussions about reparations, despite opposition from then Prime Minister Keir Starmer.

King Charles III will also attend the summit. However, Buckingham Palace has said he will not issue a formal apology for slavery during his trip, despite calls from countries in the region.

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EU and Canada seek deeper ties amid worsening global uncertainty | International Trade News

Both sides signed a digital trade deal, as Trump’s trade threats push Washington’s allies to seek closer ties elsewhere.

The European Union and Canada have launched what they described as an Alliance for the Future, as Ottawa prepares to become the bloc’s first so-called “associate member”.

Prime Minister Mark Carney hosted the Canada-EU summit in Montreal and signed a digital trade deal, alongside other agreements. Also at the Friday summit were European Commission President Ursula von der Leyen and European Council President Antonio Costa.

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The term “associate member” has no legal basis and is contested by some EU states. However, its use underscores the desire of Canada and the EU to forge closer relations, as United States President Donald Trump continues to threaten Washington’s traditional allies with trade tariffs if they do not play by his rules.

“Canada and the EU are working to establish the closest possible partnership, which will be far from full membership, but which will make Canada the first associate member of the European Union,” Carney posted on X.

“Today in Montreal, we have taken a major step forward by establishing more than twenty measures that will increase affordability, create opportunities and ensure our sovereignty on both sides of the Atlantic.”

In a joint statement following the summit, the two sides announced an agreement under which the European Investment Bank will invest in critical Canadian resources, particularly raw minerals. They also said they would advance cooperation on artificial intelligence security and safety.

“A more dangerous and divided world has fundamentally changed the requirements of sovereignty. It is no longer enough for nations to feed, fuel and defend ourselves,” the statement said.

It added that “true sovereignty” requires secure access to critical minerals, semiconductors, payment systems, energy, vaccines, space-based communications and AI.

Ukraine was also on the meeting agenda, with Carney announcing Canada’s participation in the EU’s 90 billion euro ($103bn) support loan for Kyiv. Carney said Canada would make an initial contribution of 500 million euros ($558m).

Opportunities for students in Canada and the EU were also discussed. Both sides said they would launch negotiations aimed at deepening Ottawa’s participation in Erasmus+, the EU’s flagship student exchange programme.

Carney and Trump are currently engaged in a trade dispute, with talks under way to reach a deal between the two countries.

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Canada Looks to Europe as US Trade Ties Fray

Canadian Prime Minister Mark Carney and Europe forge new alliances in the face of U.S. trade hostility.

This article appears in the November issue of Global Finance Magazine.

Tariffs and a return to the U.S.’ manufacturing glory days have been rallying cries for President Donald Trump since his first term in office. One ally, surprisingly, is now in his sights: Canada, the friendly neighbor to the north. After attempts at negotiation, appeasement, and policy changes on such matters as taxes on tech companies and electric vehicle imports from China, Canada has pivoted in a big way. 

As recently as early last month, Washington said it was in no hurry to resume trade negotiations with Canada because commodities such as oil and potash still trade freely.

Accordingly, under Prime Minister Mark Carney, Canada is taking steps to pivot away from the U.S. and toward other middle powers, mainly—but not exclusively—in Europe. However, Canada’s trading and diplomatic shift is not just about Trump; Ottawa is motivated to diversify its trading relationships with more stable partners, who have, in turn, reciprocated with friendly overtures and relationship-building.

Last summer, the Carney government hosted a first-of-its-kind Canada Investment Summit, inviting some of the world’s top investment firms and institutional investors. The summit led to nearly 500 billion Canadian dollars in new investment across sectors such as critical infrastructure, digital technology, energy, and defense. 

In his keynote address, Carney announced major policy measures, including a new productivity mega-deduction for business investment that allows businesses to write off most new capital investments immediately, effectively lowering the marginal tax rate on new investment from 6.4% to 13%; a streamlined permitting process for new projects; a formal asset-recycling policy; and plans to seek private investment for Canada’s four largest airports.

Also in the mix: a new Maple Fund, created by the Canada Pension Plan Investment Board and New York-based Brookfield Asset Management, to invest in Canadian projects, and CA$10 billion in additional Canadian investment committed by the Ontario Teachers’ Pension Plan. Not to be overshadowed, Canada’s major banks have committed billions to key Canadian sectors over the next five to 10 years.

From AI to the Arctic

Carney left the summit early for Europe, where he delivered a keynote address to the European Parliament. European Commission President Ursula von der Leyen followed with a proposal that Canada become the EU’s first “associate member”: a term not yet defined and not fully desired by some on the left side of the Atlantic. 

And the ties continued to deepen. An EU-Canada summit was scheduled for the end of October in Montreal, where discussions are expected to focus on cooperation and partnerships in areas such as digital trade, critical minerals, defense, and energy.

The proposed partnership goes beyond trade. Ottawa and Brussels are expected to pursue greater coordination on AI, quantum technology, cybersecurity, and economic security, while integrating parts of their defense industries, with the Arctic at the center of their cooperation.

“We are joining forces voluntarily,” von der Leyen said in her State of the Union address before the European Parliament. “We will create a tech alliance. We will integrate defense industrial bases. We will make the Arctic a flagship joint project. We will work on energy, critical minerals, and batteries, on AI, quantum, cyber, and economic security.”

Voluntarily, perhaps, but with a significant push from an ally who may be increasingly isolated in a changing geopolitical environment. 

Joel Kranc is a contributing writer based in Canada.

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Sean McVay doesn’t expect Rams to be active at trade deadline

The NFL trade deadline is less than two weeks away, and NFC West teams have been busy making moves.

But Rams coach Sean McVay indicated Wednesday that the injury-ravaged Rams are standing pat — for now.

The defending Super Bowl-champion Seattle Seahawks added three-time All-Pro offensive lineman Quenton Nelson. The San Francisco 49ers reacquired All-Pro defensive lineman DeForest Buckner. Both teams executed trades with the Indianapolis Colts.

Have the Rams made plans or had trade discussions?

“No,” McVay said. “Based on our situation, I mean the good thing for us is, what you look at is hopefully some of those trades will be guys getting back from injury that haven’t played for us.

“That’s kind of the way we look at it.”

Multiple Rams star players are on injured reserve or are done for the season because of injuries.

Edge rusher Myles Garrett, the reigning NFL defensive player of the year, has not played since undergoing knee surgery after the season-opening defeat by the 49ers in Australia. He has been eligible to return since before the Rams played the Arizona Cardinals on Oct. 18, but McVay said Wednesday that the Rams would not open the 21-day window for Garrett to return.

Tight end Terrance Ferguson, on injured reserve because of an ankle injury, also is eligible to return but will not practice this week.

Defensive lineman Poona Ford is out for the season because of a triceps injury, and defensive lineman Kobie Turner must sit out three more games while on injured reserve because of a groin injury. Star receiver Davante Adams is on injured reserve because of a hamstring injury that is expected to keep him out several more weeks.

General manager Les Snead is known for pulling off unexpected deals — see his trade for Garrett last June. But the Rams lack draft capital and have a league-low $206,406 of cap space, according to Overthecap.com.

So the Rams are apparently looking inward.

“The amount of guys that have not been available, that are key and focal points for really both sides of the football, you look at those guys hopefully being able to return within a month,” McVay said, “and that’s kind of where that value lies for us.”

Snead has a history of making big moves before or at the deadline.

In 2018, they traded for edge rusher Dante Fowler Jr. In 2019, they traded for cornerback Jalen Ramsey. In 2021, they signed receiver Odell Beckham Jr. and traded for edge rusher Von Miller.

Last season, the Rams made a low-key move, trading for defensive back Roger McCreary.

McVay acknowledged that “you always think about” possible deals and that the “conversation” might be different if more players were out for the season.

“But the good thing is a lot of the guys that are big, huge parts that we’re missing, we do expect to get back at some point, just not exactly sure when that is,” he said.

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Russia-Africa Summit: What is on the agenda, and why does it matter? | International Trade News

Trade and security are expected to be on the agenda as delegations and leaders from dozens of African countries gather in Moscow for a two-day summit with Russia.

The third instalment of the Russia-Africa Summit will run through October 28–29 and will be chaired by Russian President Vladimir Putin and the current African Union chair, Burundian President Evariste Ndayishimiye.

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Russia has boosted security and trade cooperation with African nations as it grapples with Western sanctions imposed in response to its war against Ukraine.

So who will be attending and what is at stake?

Here’s what we know.

What is the Russia-Africa Summit?

The Russia-Africa Summit is a two-day diplomatic and economic meeting being held in Moscow on Wednesday and Thursday.

Leaders and delegations from 48 African countries are meeting to discuss bilateral cooperation spanning politics, defence and technology.

This high-profile forum is the third of its kind. The first summit took place in October 2019 in Sochi, marking an unprecedented turn in Russian-African relations.

Russian President Vladimir Putin (C), Egyptian President Abdel Fattal el-Sisi (L) and South African President Cyril Ramaphosa (R) seen during the plenary at the Russia-Africa Summit on October 24, 2019 in the Black Sea resort of Sochi, Russia
Russian President Vladimir Putin (C), Egyptian President Abdel Fattal el-Sisi (L) and South African President Cyril Ramaphosa (R) seen during the plenary at the Russia-Africa Summit on October 24, 2019 in the Black Sea resort of Sochi, Russia [Mikhail Svetlov/Getty Images]

What’s on the agenda for the summit?

The event’s official theme is Developing Mutually Beneficial Cooperation and “unlocking the potential of every African country”.

More than 40 sessions and about 100 speakers will cover trade, investment, technology transfer, food and energy security, healthcare, education and youth exchange.

There will also be a business programme, culminating in a plenary session.

Who is attending?

Representatives from 48 African countries will participate, as well as 22 heads of state, according to Kremlin presidential aide Yury Ushakov. Heads of state from 17 countries attended the last summit in 2023.

Fewer leaders came to the last two summits, compared with the first gathering in 2019, when 43 took part, a decline which Moscow blamed on Western pressure.

Russian President Putin is scheduled to meet with his Egyptian counterpart Abdel Fattah el-Sisi and Ethiopia’s Prime Minister Abiy Ahmed.

The guest list includes leaders closely tied to Russia’s growing security role in Africa, including Burkina Faso’s Ibrahim Traore and Niger’s Abdourahamane Tchiani.

Kenya’s William Ruto, Uganda’s Yoweri Museveni and Namibia’s Netumbo Nandi-Ndatiwah are also expected, as well as Sudan’s Abdel Fattah al-Burhan and Mohamed al-Menfi, the chairman of the Presidential Council of Libya.

What is the relationship between Russia and Africa like?

Russia has gained far more influence in Africa through security than trade, according to a report by the African Security Analysis group (ASA), a security consultancy.

Russia’s security presence has risen significantly in the region. In 2023, Russian forces, mostly from the Wagner Group, operated in only a few African countries, but the ASA now counts Russian missions or troops in at least nine countries.

Trade between African countries and Russia has exceeded $28bn. It was estimated to be about $16.8bn in 2019, when the first summit was held. But trade is mainly concentrated in a few countries and overshadowed by that of China and the European Union.

Russia’s strongest ties to the continent are in energy, fertilisers, defence and nuclear power, where the state-owned firm Rosatom has signed a string of agreements.

Russia has been an essential supplier of fertilisers and wheat to many countries in the region.

In 2023, Russia exported 200,000 tonnes of grain to Mali, Somalia, the Central African Republic, Burkina Faso, Eritrea and Zimbabwe. 

Why does this summit matter?

This is the first summit since 2023, so it will be an indicator of how far the relationship has developed and where it is heading, analysts say.

A final declaration and a Russia-Africa Partnership Forum plan should be adopted by the end of the Summit to cover 2027-2029.

Analysts have said that meetings on the sidelines could be more important than the main event, as talks between African delegations and Russian defence officials can illustrate where Moscow plans to expand its military ties.

The recruitment of Africans to fight in Ukraine could also be a growing problem for Moscow, as it has already caused diplomatic concern in countries such as Kenya.

Amnesty International has used the run-up to the summit to raise the issue of Africans being recruited to fight with Russia.

In an open letter, the directors of Amnesty’s African section urged leaders attending the summit to demand that Moscow end what the group describes as deceptive and coercive recruitment of Africans to fight in its war in Ukraine.

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Africa food security under threat due to Iran war, trade officials warn | US-Israel war on Iran News

Doha, Qatar – African countries are feeling the economic fallout from the ongoing conflict in the Middle East, with rising fuel and fertiliser prices threatening to drive up food costs, according to trade ministers from the region and the United Nations’ top trade official.

The crisis around the Strait of Hormuz due to the United States and Israel’s war on Iran needs to be resolved “sooner rather than later”, Luz Maria de la Mora, director of the Division on International Trade and Commodities at UN Trade and Development (UNCTAD), told Al Jazeera at the World Investment Forum on Monday. She warned that soaring fertiliser prices could affect harvests next year.

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“Prices of fertilisers have risen dramatically … so many countries have decided to reduce the use of fertilisers, which will have an effect next year in terms of crops,” she said.

“It may have an effect on availability of food and prices of food.”

Luz Maria de la Mora, director of the Division on International Trade and Commodities at UN Trade and Development (UNCTAD) [Urooba Jamal/Al Jazeera]
Luz Maria de la Mora, director of the Division on International Trade and Commodities at UN Trade and Development [Urooba Jamal/Al Jazeera]

The US-Israel war on Iran has highlighted the world’s heavy reliance on the strategic waterway, through which one-fifth of global oil and liquefied natural gas trade previously passed.

Against this backdrop, Doha hosted UNCTAD’s World Investment Forum on October 25 and 26, bringing together heads of state, policymakers, CEOs and investors to discuss global investment and sustainable development.

The Strait of Hormuz’s disruption has rippled through African economies. In Zimbabwe, rising fuel and fertiliser prices are a critical concern in a country where more than 70 percent of the population depends on agriculture, Monica Mutsvangwa, the country’s minister of women affairs, community, small and medium enterprise development, told Al Jazeera.

Uganda, another heavily agrarian economy, has also been hit, with fuel prices more than doubling, Sanjay Tanna, the country’s minister of trade, industry and cooperatives, told Al Jazeera.

The impact extends beyond the immediate cost of energy. Rising oil prices have disrupted supply chains, with effects lasting longer than anticipated, according to de la Mora.

“The effects are lasting longer than we would have expected or would have wanted,” she said.

‘Friend to all, enemy to none’

The shock has also exposed differences in how African economies weather global disruption.

Uganda’s reliance on subsistence farming has helped cushion the impact, with domestic food production offering some protection from international market volatility, said Tanna.

But the country has not been insulated from financial pressures: its currency has lost 10 percent of its value against the US dollar, the minister said. The Ugandan shilling has steadily declined since mid-2026.

For Zimbabwe, the crisis has reinforced the importance of attracting investment while maintaining economic ties across geopolitical divides.

Monica Mutsvangwa, the country’s Minister of Women Affairs, Community, Small and Medium Enterprises Development [Urooba Jamal/Al Jazeera]
Monica Mutsvangwa, Zimbabwe’s minister of women affairs, community, small and medium enterprise development [Urooba Jamal/Al Jazeera]

Amid the simmering trade war between the US and China, Harare considers itself a potential partner to investors from either side, Mutsvangwa said.

“We are a friend to all and an enemy to none,” she said.

“Money has no color … If we get an investor who comes into our country, follows the rules and regulations of the country, makes his money, and Zimbabwe develops, that’s what we want.”

The official pointed to Zimbabwe’s deposits of more than 60 critical minerals, including lithium and graphite, as well as its tourism potential.

Trade in an unequal system

But attracting foreign capital remains a challenge for developing economies, with investment concentrated in a relatively small number of countries.

That concentration is “very understandable”, de la Mora said, arguing that investors need confidence that their money will generate returns.

“Capital is risk averse. Capital needs to have certainty that its investment is going to yield returns and it’s going to come to fruition,” she said.

Governments can help build that confidence through transparent institutions, the rule of law and investment in infrastructure, including reliable electricity, energy supplies and digital connectivity, she added.

The question of whether the international trading system treats all countries equally prompted a more blunt assessment from Uganda’s trade minister.

“Of course not,” said Tanna. “The world cannot be equal … It’s unfair, but we believe that, within the space that we are in, we are in a good space.”

Sanjay Tanna, Uganda's Minister of Trade, Industry and Cooperatives [Urooba Jamal/Al Jazeera]
Sanjay Tanna, Uganda’s minister of trade, industry and cooperatives [Urooba Jamal/Al Jazeera]

Uganda was well placed for the future, he argued, because it produces its own food – an advantage at a time when international supply chains are under pressure.

For both Uganda and the Republic of Congo, building resilient economies also means investing in younger generations.

The Republic of Congo’s Deputy Prime Minister for Coordination, Development Infrastructure and Land Planning, Jean-Jacques Bouya, said the country had aligned its national development plan, Vision 2063, with the African Union’s broader development ambitions.

Connectivity – through electricity, digital infrastructure and physical links – is central to that strategy, he told Al Jazeera.

The Republic of Congo also wants to expand local processing so that more value from its natural resources remains within the country.

“Africa can no longer be a reservoir of raw materials, and neither can Congo – a place where raw materials are extracted, taken elsewhere, processed and then sold back to us at a much higher price. We cannot go on like this,” Bouya said.

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Qatar official calls for peace and security to boost trade, investment | US-Israel war on Iran News

Speaking at the World Investment Forum in Doha, state minister says peace and security are essential for trade and investment prosperity.

Qatar’s Minister of State for Foreign Trade Affairs Ahmad bin Mohammed al-Sayed has called for greater international cooperation and economic stability, warning that trade and investment cannot flourish without peace and security.

Speaking at the United Nations-led World Investment Forum in Doha on Sunday, al-Sayed said geopolitical upheaval and growing economic fragmentation were threatening global investment prospects.

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“The global economy is undergoing changes. There are geopolitical changes. These are all issues that redefine the landscape of global investment,” he said.

“We believe that investment in the future is related to investment in peace and security,” the minister added.

“Trade will prosper, and long-term investment will create its potential only with a safe and stable environment.”

Organised by the UN Conference on Trade and Development (UNCTAD), the World Investment Forum brings together heads of state, policymakers, CEOs and investors to discuss global investment, opportunities, challenges and sustainable development.

Al-Sayed’s remarks come as several conflicts continue to rage around the world, and with growing fears of an escalation in the US-Israel war on Iran in the coming weeks.

Shipping through the Strait of Hormuz, a vital waterway for global oil and liquefied natural gas (LNG) shipments, has been disrupted since the US and Israel launched the war on February 28. Iran responded by effectively blocking the strait and attacking targets across the region.

Prior to the war, one-fifth of the world’s traded oil and gas flowed through the strait.

In the past week, escalating attacks on shipping in the strait and uncertainty over diplomatic efforts to end the nearly eight-month war have led to a surge in oil prices, putting further pressure on the global economy.

On Thursday, oil prices climbed about 4 percent to a five-month high, with Brent futures crossing $113.17 a barrel.

‘Further cooperation, less isolation’

Al-Sayed stressed the need for predictable international rules and stronger economic partnerships at a time of heightened uncertainty.

“In our world, which is facing further uncertainty and economic fragmentation, our message stays clear. It is a call for further cooperation and less isolation, further cooperation and less division,” he said.

Iranian strikes on Qatar’s Ras Laffan industrial complex in March damaged facilities, with repairs expected to take several years.

The minister outlined Qatar’s efforts to strengthen supply chains, diversify economic partnerships and “open new markets for our exports”.

He said Qatar attracted 373 foreign direct investment projects in 2025, a 50 percent increase from the previous year, generating more than 15,000 jobs.

Qatar has also unveiled infrastructure projects worth $38.5bn over the next five years, alongside an anticipated $22.5bn in private sector investment in hospitality and real estate, al-Sayed added.

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Kim Jong Un crosses new bridge linking North Korea and China | International Trade

North Korean leader Kim Jong Un waved to crowds as he crossed a newly opened bridge linking his country with China, Chinese state media reported. The Yalu River Bridge is seen as a strategic link in expanding trade ties between the two nations.

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Russia and Ukraine trade attacks despite pledging to resume peace talks | Russia-Ukraine war

Overnight attacks on Kyiv injured 15 people, while two were injured in Moscow as Russia said it intercepted 163 Ukrainian drones. The attacks came hours after Putin and Zelenskyy signalled willingness to resume peace talks with the US.

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Standard Bank’s Rajesh Ramsundhar on Africa’s Growth in Payments and Trade

Produced in partnership with Standard Bank, this video features Rajesh Ramsundhar, Head of Investor Services & Financial Institutions, Corporate and Investment Banking at Standard Bank, speaking with Global Finance at Sibos.

Rajesh Ramsundhar, Head of Investor Services & Financial Institutions, Corporate and Investment Banking at Standard Bank, speaks with Global Finance at Sibos. Content produced in partnership with Standard Bank.

Ramsundhar explains why Standard Bank is firmly bullish on Africa’s long-term growth runway; how payments and trade sit as the bank’s core transaction banking priorities; and how its technology agenda — building on the bank’s legacy of innovation, deploying technology to enter new markets, and applying data and AI to sharpen efficiency and client service — is positioning the bank for what comes next.

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Jordan-Israel border becomes new hotspot for sophisticated drug trade | Crime News

Amman, Jordan – Jordanians fear the country’s border with Israel is turning into a major drug-smuggling route amid a surge in high-tech operations by gangs using drones and helium-filled balloons.

Organised networks active in southern Israel’s Negev Desert have links to groups in Jordan and the Sinai Peninsula in Egypt, operating along one of the most heavily surveilled borders in the world, with Jordanian authorities increasingly concerned about the implications this could have for the kingdom.

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This escalation coincides with changes in the regional drug trade, particularly after the fall of Syrian President Bashar al-Assad in late 2024.

Elements in his regime were linked to the manufacturing and distribution of Captagon, an illegal amphetamine stimulant.

Syria became a hub for the distribution of Captagon to the Gulf, with Jordan a transit point and market for the drug. The Royal Jordanian Air Force carried out periodic strikes on drug manufacturing and smuggling points inside Syria, highlighting the huge security concerns Jordan had about the trade.

Since the collapse of the Assad government and the establishment of a new authority that views the Captagon trade as a national security issue, there has been a decrease in the drug trade from Syria into Jordan.

Although Druze militias in the Syrian province of Suwayda allegedly linked to Israel have been accused of continuing the drug trade, Jordanian security forces are increasingly focused on the Jordan-Israel border.

The use of quadcopter drones and balloons is reportedly among the new tactics used by gangs in Israel to smuggle hashish, crystal meth, and amphetamines into Jordan.

Jordanian security forces are said to be increasingly unhappy with the scale of the drug smuggling operations and have accused the Israeli army of not taking the issue seriously.

Initial data from Jordanian forces recorded 17 interception operations linked to drones during the first half of 2026 in Jordan’s southwestern border area with Israel.

They also recorded 231 smuggling and infiltration attempts and downed 56 drones across various borders during the same period.

Interior Minister Mazen al-Faraya told Al Jazeera that Jordanian forces were continuing efforts to prevent drugs from being smuggled into the kingdom. But they are evidently facing more complex activities by drug dealers.

“There is an increase in drug smuggling operations from Israel to Jordan using drones,” he said. “The number of seized drug cases during the current year reached 15,342 cases. Trafficking cases constituted about 28 percent of them, compared with 72 percent for usage cases.”

Israeli media reports indicate that gangs active in the Negev Desert are behind some of the smuggling operations into Jordan, where drugs can fetch higher profits.

There are estimates that 1kg of hashish can sell for approximately 7,500 pounds sterling (almost $10,000), according to the British newspaper The Telegraph, which recently uncovered the drug smugglers’ latest operations. Israeli security services believe that the price of hashish in Jordan is about 15 times higher than in Israel.

Due to widespread disenfranchisement and poverty, elements within Palestinian communities in Israel have been linked to the drug trade, according to reports. Multiple sources have accused Israel of allowing Palestinian towns and cities to become hotbeds of crime to create divisions and prevent calls for greater rights.

Ammar al-Qudah, a member of the Jordanian Senate and retired major-general in the Public Security Directorate, claimed that organised gangs in the Negev had obtained more than 1,000 drones that were originally used for agricultural and security purposes.

“The smuggling networks are linked to other gangs in Jordan, Sinai and the Negev, and rely on a route starting from Sinai, passing through the Negev, and reaching Wadi Araba, in addition to other routes including the Lebanese border with Israel and the Galilee region towards Syria,” he told Al Jazeera.

They are also using a range of sophisticated technology to bypass security on both sides of the border. This includes the use of helium-filled balloons equipped with GPS devices, drones capable of carrying about 50kg of narcotics, including black hashish and crystal meth, al-Qudah said.

He warned that a portion of the black hashish and crystal meth being smuggled into the kingdom is being sold domestically, with the rest going to other markets in the region.

With such high-tech operations, there are accusations that members of Israeli forces know about drug gang activities, based on past experiences in Egypt.

One West Point report said current and former trackers in the Israeli military in the Negev are being recruited by traffickers to provide intelligence to facilitate their operations in Egypt. In 2012, a number of Israeli service personnel were arrested on suspicion of collaborating with drug smugglers across the Egyptian border.

While there is no proof that the same situation is being repeated in Jordan, many have questioned how drones and balloons carrying drugs could cross a heavily surveilled and guarded Israeli border into Jordan.

Jordan’s counternarcotics department, in cooperation with the armed forces, has tracked such cases and made arrests.

Retired Brigadier-General Daifallah al-Daboubi, a strategic and military expert, said Jordan is witnessing a “reverse drug migration”, starting from the Sinai Peninsula, passing through the Negev region, and reaching the kingdom.

“Groups active in Beersheba and the Negev possess great financial capabilities and use advanced smuggling methods, most notably drones,” he said.

The Israeli army’s preoccupation with wars in Gaza, Lebanon and the occupied Golan Heights has provided smugglers with room to manoeuvre on the Jordan border, he added. But he ruled out the direct involvement of the Israeli political or military leadership in any drug smuggling.

Steps taken by Israel to boost security on its eastern border include the establishment of the 96th Division, which began operating in the Jordan Valley in 2025, and the construction of a controversial security barrier with Jordan.

But none of these measures appears to be designed to prevent drugs from leaving Israel; instead, they appear to be designed to prevent weapons and other illicit merchandise from entering the country from Jordan.

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Why Marco Rubio’s visit to Mumbai has ruffled feathers in India | International Trade News

United States Secretary of State Marco Rubio is to visit India in the coming week, but he will not set foot in the capital, New Delhi.

Instead, on Monday, Rubio will hold talks with Indian External Affairs Minister Subrahmanyam Jaishankar in Mumbai, India’s financial hub, and then visit an oil refinery in Jamnagar in the western state of Gujarat, according to a statement from the US Department of State.

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His itinerary sparked a political storm after the US ambassador to India said Washington expected Jaishankar to travel to meet Rubio, prompting opposition leaders to accuse the government of allowing India’s top diplomat to be “summoned” on home soil.

The spat comes as relations between the two countries are strained over trade, tariffs and India’s purchases of Russian oil.

So why is Rubio avoiding New Delhi, and why has it caused such upset? Here’s what you need to know:

What is Rubio doing in India?

He plans to discuss trade, energy and investment.

Rubio is arriving on Sunday from Samarkand, Uzbekistan, where he has been meeting with five Central Asian states at the C5+1 summit.

In India, he is due to meet senior officials to discuss the US-India strategic partnership and energy cooperation and hold talks with business leaders, the State Department said.

Indian Ministry of External Affairs spokesperson Randhir Jaiswal appeared to confirm the agenda, stating on Friday that the Mumbai talks would cover energy, trade and investment, defence, and critical and emerging technologies.

In Jamnagar, Rubio is to visit the world’s largest single-site refinery, operated by billionaire Mukesh Ambani’s Reliance Industries, and attend a reception hosted by the Ambani family, according to The Hindu newspaper.

Rubio and his wife, Jeanette Rubio, appear with Ambassador to India Sergio Gor, also the US special envoy for South and Central Asia, at the Taj Mahal in Agra, India, on May 25, 2026
Rubio and his wife, Jeanette Rubio, appear with Ambassador to India Sergio Gor, also the US special envoy for South and Central Asia, at the Taj Mahal in Agra, India, on May 25, 2026 [Julia Demaree Nikhinson/Pool via Reuters]

Why isn’t Rubio going to New Delhi?

No official reason has been given.

Rubio was in the Indian capital in May for a meeting of foreign ministers of countries in the Quad, a group consisting of the US, India, Japan and Australia.

The State Department has framed his upcoming trip around energy and investment, and the second stop on Rubio’s India visit, Jamnagar, is one of the world’s most important energy hubs.

The visit also comes as fuel prices bite in the US before next month’s midterm elections.

Reliance, an energy, retail and telecommunications conglomerate, also sits at the centre of Washington’s wider oil diplomacy.

Business Standard, an Indian financial daily, said the Jamnagar stop was significant because Reliance is the biggest buyer of Venezuelan crude oil besides the US at a time when Washington has been urging India to buy more.

Since US forces seized Venezuelan President Nicolas Maduro in January and took essential control of the country’s oil industry, the US government has marketed Venezuelan oil to buyers abroad.

Reliance is also investing in a new refinery in Texas, the first to be built in the US in 50 years, which Trump hailed as a $300bn deal when he announced it in March, Business Standard reported.

Villagers sit in the lawns outside the Jamnagar Refinery run by the Indian business conglomerate Reliance Industries, in Jamnagar, India, Wednesday, April 9, 2025. (AP Photo/Manish Swarup)
Villagers sit outside the Jamnagar refinery, run by the Indian business conglomerate Reliance Industries, in Jamnagar, India [File: Manish Swarup/AP]

What did the US ambassador say, and why has it caused upset?

Speaking at the Bloomberg New Economy Forum in New Delhi on Thursday, US Ambassador to India Sergio Gor said Rubio would meet Indian government officials in Mumbai, and Washington “expected” Jaishankar and others from New Delhi to travel there to see him.

Earlier in the week, however, Jaiswal had not confirmed the trip or explained why Rubio was skipping New Delhi, telling reporters the Indian government would announce it “at the appropriate time”, The Hindu newspaper reported.

Jairam Ramesh, a general secretary of the opposition Indian National Congress party, wrote on X that the ambassador’s statement was “quite extraordinary”.

Rahul Gandhi, leader of the opposition in parliament’s lower house, also took to X to comment, writing on Friday that Rubio had “summoned his employee to Mumbai”.

Congress MP Pawan Khera went further.

“A foreign government summoning India’s External Affairs Minister on Indian soil is a new low, even by the Modi Government’s standards,” he wrote on X, referring to Prime Minister Narendra Modi.

Why are US-India relations strained?

Mainly because of Trump’s tariffs and Russian oil.

In August last year after a round of trade talks broke down, the US hit most Indian goods with a 50 percent tariff. Under a framework the two sides agreed in February, that rate fell to 18 percent, however.

Since then, negotiations have stalled.

This month, Indian Finance Minister Nirmala Sitharaman said the talks had “plateaued”, according to The Hindu.

On Thursday, Trade Minister Piyush Goyal said the “first tranche” of a deal was in its final stages but India would not sign until its exporters had an edge over rivals such as Bangladesh, Vietnam and Indonesia, according to the Reuters news agency.

Other points of friction have emerged.

Last week, US Labor Secretary Keith Sonderling announced that his department was suspending eight companies – including the Indian IT giants Infosys, Tata Consultancy Services, Wipro and HCL – from a labour certification scheme that is a key step for employers seeking green cards for their foreign staff.

Sameer Lalwani, a senior fellow in the South Asia Program at the Carnegie Endowment for International Peace, wrote this week that Indian public opinion of the US has hit a record low, citing US engagement with Pakistan and the US-Israel war on Iran, which he said had pushed India back towards Russian oil.

Despite that, he argued, defence and technology cooperation has quietly deepened, and bilateral trade grew by almost 12 percent in 2025 to nearly $240bn.

In his view, “perceptions of the political relationship have deteriorated faster than its strategic foundations.”

A sanctions law had threatened to make matters worse.

Last month, Trump signed the Lindsey O Graham Sanctioning Russia and Iran Act, which could impose tariffs of up to 100 percent on goods from the five largest importers of Russian oil or gas.

India, one of the world’s biggest buyers of Russian oil, had warned Washington that new tariffs could hurt bilateral ties. Trump signed an executive order seeking to waive the sanctions on Friday as he tries to ease high oil prices before the November 3 US elections.

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China-North Korea border bridge may do little to spur trade, experts say | International Trade News

As China and North Korea cut the ribbon on New Yalu River Bridge this week, officials described the new border crossing in momentous terms.

Chinese Premier Li Qiang said the 3km (1.9-mile) bridge, which links China’s Dandong and North Korea’s Sinuiju, would “vigorously promote” trade and “strengthen emotional bonds”.

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North Korean Premier Pak Thae-song expressed his belief that the crossing would “accelerate the advance for the prosperity of the two countries” and “add fresh vigour” to their economic cooperation.

Analysts on China-North Korea ties are much more circumspect.

While the bridge is a concrete symbol of China and North Korea’s efforts to revitalise relations that have waned from their Cold War-era peak, the prospects for trade are hindered by obstacles ranging from international sanctions to a North Korean leadership that prioritises security above all else, experts say.

“It reflects China’s renewed effort to strengthen its relationship with North Korea at a time of changing regional alignments,” Phillip Park, a professor at the University of North Korean Studies in Seoul, South Korea, told Al Jazeera.

“But whether this leads to substantially deeper economic integration, greater North Korean dependence, or a significant shift in Pyongyang’s strategic orientation remains an open question.

“The bridge could facilitate trade and logistics, but it does not remove international sanctions,” Park added.

A Chinese maritime patrol vessel travels along the Yalu River as trucks adorned with Chinese flags cross the newly opened New Yalu River Bridge into North Korea’s Sinuiju from China’s Dandong New Zone, as seen from Dandong, Liaoning province, China, on October 15, 2026
A Chinese maritime patrol vessel travels along the Yalu River as trucks adorned with Chinese flags cross the newly opened New Yalu River Bridge into North Korea’s Sinuiju from China’s Dandong New Zone, as seen from Dandong, Liaoning province, China, on October 15, 2026 [Florence Lo/Reuters]

China, whose troops fought alongside Pyongyang in the 1950-53 Korean War, has long been North Korea’s most crucial economic benefactor.

China accounts for as much as 95 percent of official trade with the secretive country, which is among the world’s most diplomatically and economically isolated states.

Before the four-lane New Yalu River Bridge officially opened on Thursday, road and rail freight between Dandong and Sinuiju, the main route for China-North Korea trade, travelled exclusively via the ageing Sino-Korean Friendship Bridge.

Opened in 1943, the bridge, which has a single-lane road and a rail track, can only carry vehicles weighing a maximum of 20 tonnes.

Jae-woo Joo, a professor of Chinese foreign policy at Kyung Hee University in Seoul, said the new bridge could “tremendously” boost trade between the sides, including the transfer of components banned under sanctions against Pyongyang’s nuclear and missile programmes.

“It is therefore really significant to open this bridge with China,” Joo told Al Jazeera.

After coming under strain from North Korea’s nuclear weapons tests in the mid-2000s, Beijing-Pyongyang ties have warmed under Chinese President Xi Jinping and North Korean leader Kim Jong Un.

At Xi and Kim’s most recent meeting in June, their seventh summit since 2018, the leaders pledged to enhance cooperation in areas spanning trade, defence, agriculture, law, science and technology.

Analysts have, in part, cast Beijing’s deepening engagement with Pyongyang as a response to the latter’s growing ties with Moscow, which have included the deployment of thousands of North Korean troops to the front lines of Russia’s war in Ukraine.

Last month, North Korean and Russian officials opened the first road bridge linking their countries across the Tumen River.

Chinese President Xi Jinping walks with North Korean leader Kim Jong Un, right, to a reception following a military parade to commemorate the 80th anniversary of Japan’s World War II surrender held in front of Tiananmen Gate in Beijing, China, on September 3, 2025
Chinese President Xi Jinping walks with North Korean leader Kim Jong Un, right, to a reception following a military parade to commemorate the 80th anniversary of Japan’s World War II surrender held in front of Tiananmen Gate in Beijing, China, on September 3, 2025 [Mahesh Kumar/AP]

North Korea and China’s two-way trade grew 25 percent in 2025 to reach $2.74bn, according to figures from China’s General Administration of Customs.

Bilateral trade has continued to grow in 2026, jumping nearly 20 percent to reach $1.5bn in the first half of the year, putting it on track to reach its highest volumes since the COVID-19 pandemic.

But while growing, trade remains relatively minuscule in the context of global commerce.

With China’s overall trade hitting $6.36 trillion in 2025, North Korea’s contribution to the total was a little more than 0.04 percent.

Official trade between the neighbours also remains substantially below its 2010s heyday.

Trade hovered around $5-6bn throughout much of the decade, peaking at $6.45bn in 2013.

Economists have offered explanations for the slowdown that range from tightened sanctions to China’s waning reliance on imports amid its efforts to boost economic self-reliance.

Christopher Green, a senior consultant for the Korean Peninsula at International Crisis Group, said the new border crossing’s significance should not be overstated, considering that China-North Korea trade “is fundamentally driven by politics”.

“Lack of cross-border transit routes is not the main obstacle,” Green told Al Jazeera.

“If the bridge opening signifies a political desire on both sides to give political cover to rising trade volumes, then a boost to trade should follow,” Green said, describing ties up until now as “steady-as-she-goes” economic engagement.

“Time will tell. But the key is the politics of national security, not economics.”

Vehicles drive through a new bridge linking China and North Korea as it opened in North Phyongan province, North Korea, on October 15, 2026
Vehicles drive through a new bridge linking China and North Korea as it opened in North Phyongan province, North Korea, on October 15, 2026 [Cha Song Ho/AP]

As much as officials have hailed the New Yalu River Bridge as a reflection of Chinese-North Korean cooperation, the project had a long and torturous road to completion.

Construction began in 2011 and was finished on the Chinese side in 2014.

But North Korean authorities only completed roads and customs facilities on their side of the river this year following repeated pauses in construction amid tensions with Beijing.

“The 12-year delay certainly suggests that economic cooperation is more conditional than the language of friendship might imply,” Marco Mari, a PhD researcher at Bocconi University in Italy who studies China-North Korea economic ties, told Al Jazeera.

“The bridge can facilitate supplies and economic activity, while Russian support gives North Korea alternatives that diminish Beijing’s leverage,” Mari added.

“This does not necessarily imply broader economic reform or a comparable improvement in ordinary people’s lives.”

Chinese Premier Li Qiang, on screen, makes a speech through video conference as a new bridge linking China and North Korea opens in North Phyongan province, North Korea, Thursday, October 15, 2026
Chinese Premier Li Qiang, on screen, makes a speech through video conference as a new bridge linking China and North Korea opens in North Phyongan province, North Korea, Thursday, October 15, 2026 [Jon Chol Jin/AP]

Weiqi Zhang, an associate professor at Suffolk University who studies relations between North Korea and China, said the history of China-North Korea economic ties is littered with abortive projects, such as the Hwanggumpyong Special Economic Zone, a North Korean-Chinese development near Dandong.

“There were cases, like the Hwanggumpyong Special Economic Zone – established by China and North Korea – where China built infrastructure on its side, but North Korea didn’t even pave the road on their side,” Zhang told Al Jazeera.

“One reason is that, unlike its neighbours, North Korean government doesn’t really pay much attention to trade for economic development,” Zhang said.

“International trade is used by North Korea more like a foreign policy tool.”

With China wishing to demonstrate its “indispensability” as a trade partner and North Korea eager to strengthen their economic ties, trade is likely to grow, said Edward Howell, a lecturer in international Relations at the University of Oxford.

Even so, economic engagement will be subject to political considerations, Howell said.

“North Korea will obviously want to avoid facing any Chinese influence to change its economic model, but Pyongyang will want to reap the economic benefits of trade with its principal economic benefactor,” Howell told Al Jazeera.

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How China Plus One Is Transforming ASEAN Trade

Supply-chain diversification fuels a growing Southeast Asian financial ecosystem.

This article appears in the October issue of Global Finance Magazine.

China Plus One (C+1) is a supply-chain-focused strategy in which companies retain substantial manufacturing and sourcing in China while adding at least one other country. The C+1 strategy is rapidly shifting manufacturing to countries in the Association of Southeast Asian Nations (ASEAN), boosting foreign direct investment (FDI), expanding trade surpluses, and driving GDP growth.

At the same time, the Regional Comprehensive Economic Partnership (RCEP)—a free trade agreement among 10 ASEAN member countries plus Australia, China, Japan, New Zealand, and the Republic of Korea—is boosting intraregional trade and the cross-border use of local currencies, thereby germinating a potentially formidable Southeast Asian financial ecosystem.

China’s unmatched supplier density, scale, and infrastructure are retained, but concentration risk is mitigated by building capacity in ASEAN (or elsewhere). If a manufacturing site or supplier faces a tariff hike, lockdown, or political shock, production can shift rather than halt. Even without these factors, costs are substantially reduced.

A clear example of C+1 in action is Taiwan’s Foxconn, which operates factories in Bac Ninh Province in northern Vietnam, where its plant assembles Apple’s AirPods and MacBooks using high-value parts manufactured in China.

The industrial base remains in China, with ASEAN serving as a tariff and resilience hedge. Vietnam has benefited from a cumulative $5 billion in Foxconn’s FDI in the country from 2007-2026—according to Taiwan Stock Exchange and Bac Ninh local government data—to create manufacturing capacity and more than 100,000 jobs in Vietnam.

The FDI story exemplified by Foxconn has been echoed across ASEAN. “Since 2021, FDI in the region has been exceptionally strong, with annual inflows exceeding $200 billion, compared with an annual average during the last decade of less than $130 billion,” according to the ASEAN Investment Report 2025, published last October by the ASEAN Secretariat and the UN Conference for Trade and Development (UNCTAD).

That report tallies 2024 inflows at $226 billion. Underlining the ASEAN dynamic in relative global terms, FDI was up by 8.5% that year while global FDI fell 11%.

“The strategic importance of ASEAN in global supply chains has strengthened significantly over the past decade, catalyzed by the China Plus One strategy, which aims to mitigate risks arising from geopolitical tensions and search for more-resilient production networks,” said Han Teng Chua and Radhika Rao, senior economists at DBS. 

“The region’s open and foreign-investor-friendly policies, coupled with companies’ efforts to expand markets, diversify risks, and optimize costs, could drive ASEAN-6’s FDI inflows to grow at a robust CAGR of 7% over the next decade.” ASEAN-6 is a bloc comprising Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.

Funding the Trade Finance Gap

Alongside the FDI narrative sit two burning issues: the pressing need to finance ASEAN trade, which is characterized by an “unmet gap” between demand and trade finance; and the underpinning of the region’s economies by micro, small, and midsize enterprises (MSMEs) and SMEs.

A joint assessment by the U.K. Growth Gateway and Boston Consulting Group, dated February 2024, puts the ASEAN-specific unmet gap at roughly $350 billion to $400 billion and estimates that closing even 10%-20% of that gap could unlock $85 billion to $105 billion in “trade value uplift” and about 6 million jobs in the region’s trade-related industries.

But a big reason for the region’s unmet gap is the preponderance of SMEs and MSMEs. According to the ASEAN Secretariat, these account for 97.2% to 99.9% of all business establishments. Collectively, SMEs and MSMEs generate about 85% of employment, contribute 44.8% of GDP, and supply 18% of national exports, making them central to job creation, inclusive growth, and value-added activity across both urban and rural areas.

The sobering fact is that about 40% of these companies’ trade-finance applications are rejected, according to the Asian Development Bank (ADB), often because applicants lack sufficient collateral, complete documentation, or an established credit history.

This is compounded by ASEAN’s fragmented nature and the urgent need to fully digitize trade and trade finance in a region that still relies on paper documentation. The Model Law on Electronic Transferable Records (MLETR) is the solution: a legal template that ASEAN countries can incorporate into law so that a digital original of trade documents has the same legal status as a paper original.

Singapore implemented MLETR in 2021, and the hope is that ASEAN’s Digital Economy Framework Agreement will push the rest of the region to align with it.

“Carbon copies still choke ASEAN trade—slow ships, costly credit, shut-out SMEs. MLETR is the legal unlock. Singapore is live. Mass uptake isn’t guaranteed, but the shift would be seismic,” said Alicia Garcia-Herrero, chief economist for Asia Pacific at Natixis, in Hong Kong.

Singapore’s move came in preparation for the RCEP, which came into force in 2022 for the first 10 ratifying countries. The 15 RCEP member countries represent the world’s largest trade bloc by population and economic size—about 30% of global population and GDP.

The RCEP aims to cut tariffs on more than 90% of goods traded among its members by 2042 and also covers services, investment, e-commerce, and intellectual property. Intra-RCEP trade rose sharply in 2022 to around $1 trillion and stood at around $6 trillion last year. The agreement has positively impacted trade for Cambodia, Laos, Myanmar, and Vietnam with other RCEP partners—exports from Cambodia to RCEP countries account for more than 60% of the country’s total trade.

Rebuilding ASEAN’s Trade Plumbing

Digitalized supply-chain finance—anchored in distributed-ledger technology—and local-currency settlement can rebuild ASEAN’s trade plumbing around firms, not just banks. Anchor buyers channel liquidity to SME and MSME suppliers, bypassing the need for collateral and thereby helping to fill the unmet gap.

The ADB’s Trade and Supply Chain Finance Program (TSCFP) helps close the unmet gap in SME trade finance by issuing AAA-rated guarantees and loans through more than 250 partner banks, enabling smaller firms in developing Asia to import, export, and access supply-chain working capital that private lenders would otherwise typically withhold.

In August, Steven Beck, TSCFP director, relocated to Singapore, in a move that reflects the city-state’s preeminence as an ASEAN supply-chain and trade-finance hub. “Being here means we can work much more closely in this energized ecosystem, feeding off the energy and exchanging ideas in a way you just can’t do remotely,” he said.

“It’s been a remarkable year,” Beck added. “Our business is up over 60% compared to the same period last year, which is a huge jump for a program that already supports about 20,000 transactions worth over $5 billion annually. Part of that is just persistent, unmet demand for trade finance in markets that have historically been underserved.”

Settling invoices through ASEAN’s Local Currency Transaction Framework alleviates dollar scarcity that bedevils the trade arena in smaller ASEAN economies and reduces foreign exchange spreads and correspondent-bank delays that hinder SME and MSME exporters. Linked digital platforms—e-invoicing, QR-code payment networks, and regional payment connectivity—convert those flows into reusable credit data. The result is a tighter, cheaper intra-ASEAN financial ecosystem in which trade transactions themselves become the collateral.

Jonathan Rogers is a contributing writer based in Vietnam.

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Long-delayed China-North Korea bridge officially opens | International Trade

China and North Korea have officially opened the New Yalu River Bridge after a 12-year delay. The 3 kilometre bridge is expected to become the main land route between the two countries as they seek to improve relations.

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Colombia opens embassy in Jerusalem and restores free trade with Israel | Israel-Palestine conflict

Colombia has opened an embassy in West Jerusalem under new far-right President Abelardo de la Espriella, who is reversing his predecessor’s ‌break with Israel by also restoring a free trade agreement.

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