South Korea and Saudi Arabia signed an MOU on crude oil and gas cooperation to establish a mid-to-long-term resource cooperation framework. Saudi Arabia, Korea’s top crude oil supplier, previously committed to prioritizing crude and naphtha supply to Korea. The visit also advanced cooperation on manufacturing infrastructure (automotive, shipbuilding) and minerals/advanced industries.
Topic Archives:Commodities
Korea-Mongolia CEPA Negotiations Progress and Strategic Economic Cooperation Discussed
Korea’s Trade Minister met with Mongolia’s Minister of Economic Development to advance the Korea-Mongolia Comprehensive Economic Partnership Agreement (CEPA) negotiations and expand economic cooperation. Mongolia is highlighted as a key emerging trade partner rich in critical minerals including copper, molybdenum, and rare earths. The talks focused on institutionalizing bilateral trade and investment through the CEPA […]
Results of the 42nd Japan-Russia Fisheries Commission Meeting (Japan-Russia Coastal and Offshore Fisheries Negotiations)
Japan and Russia held the 42nd session of their bilateral fisheries commission to negotiate coastal and offshore fishing arrangements. The meeting covered access quotas and conditions for Japanese fishing vessels in Russian waters. Specific allocations and operational terms were agreed upon for the fishing season.
Fish Fund supports Tonga’s first WTO fisheries subsidies notification
Tonga submitted its first-ever fisheries subsidy notification to the WTO under the Agreement on Fisheries Subsidies on 3 June 2026, facilitated by the WTO Fish Fund. The notification was prepared during a May workshop in Nuku’alofa as part of a funded project, marking a milestone for Pacific developing nations in implementing the agreement.
Indonesia-Philippines Agree on Counter-Trade MoUs Worth IDR 6.29 Trillion (USD 350 Million)
Indonesian Trade Minister Budi Santoso witnessed the signing of two tripartite counter-trade MoUs between Indonesian and Philippine businesses, with potential transactions of USD 350 million (IDR 6.29 trillion). The counter-trade arrangement is positioned as a strategic measure to address trade fluctuations. The deal represents a concrete bilateral trade policy outcome between Indonesia and the Philippines.
Indonesia’s Ministry of Trade Issues Three Ministerial Regulations on Export Governance of Strategic Natural Resources (Coal, Palm Oil, Iron Alloys)
Indonesia’s Ministry of Trade issued three new ministerial regulations (Permendag Nos. 15, 16, and 17 of 2026) governing exports of coal, palm oil, and iron alloys, effective 1 June 2026. The regulations implement Government Regulation No. 24 of 2026 and aim to strengthen export governance of strategic natural resource commodities and support domestic downstream industrialization.
Steel excess capacity continues to weigh on global markets, with subsidies increasingly undermining fair competition
An OECD report finds that steel excess capacity continues to distort global markets, with government subsidies increasingly undermining fair competition. The findings are relevant to ongoing trade remedy actions and multilateral discussions on steel overcapacity. Specific data on capacity levels and subsidy measures are highlighted as key concerns for trade policy.
Verification of Import Quota Quantities for Butter and Skimmed Milk Powder for FY2026
Japan’s Ministry of Agriculture announced the verification of import quota quantities for butter and skimmed milk powder for fiscal year 2026. This relates to Japan’s tariff-rate quota system governing dairy imports. The review determines the volume of product that may be imported under preferential tariff conditions.
Indonesian and Philippine Businesses Sign Two Counter-Trade MoUs Worth Rp6.29 Trillion
Indonesia’s Trade Minister Budi Santoso witnessed the signing of two tripartite counter-trade MoUs between Indonesian and Philippine businesses, with a potential transaction value of USD 350 million (Rp6.29 trillion). The counter-trade arrangement is positioned as a strategic measure to address exchange rate volatility affecting both countries’ currencies. The signing took place at the Ministry of […]
Vietnam Issues Decision on Sunset Review of Anti-Dumping and Anti-Subsidy Measures on Sugarcane Products from Thailand
Vietnam’s Ministry of Industry and Trade issued a decision on the results of a sunset review concerning the application of anti-dumping and countervailing duty measures on certain sugarcane products originating from Thailand. The decision follows a periodic review process to determine whether existing trade remedy measures should be maintained, modified, or terminated.