After 18 months of the focus being on freight rates, this week trade agreements are the biggest newsmakers.
TRADE AGREEMENTS
Ethiopia, Mali and Guinea will be terminated from the African Growth and Opportunity Act (AGOA) program, effective January 1, 2022, in the absence of urgent internal policy changes, per the US Trade Representative (USTR). Read More
- The USTR cited human rights violations in Ethiopia and unconstitutional changes to the government in Mali and Guinea for the pending change in status.
RCEP (The Regional Comprehensive Economic Partnership), which includes Japan, China, ASEAN, Australia and other nations, is set to take effect on Jan. 1, 2022, now that Australia and New Zealand have ratified the agreement, said the Australian government.
LOGISTICS
Air freight – from both North and South Asia to Europe and the U.S. – will face ‘high congestion’ during the next three to six months, according to Kuehne + Nagel’s outlook.
Maersk has warned that the squeeze in global supply chains will continue into next year.
An increasing number of services are not calling at the Pakistani port of Qasim, which in turn is causing heavy roll pools at terminals, said Kuehne + Nagel. Severe equipment shortages in the Indian Subcontinent Region (ISC) has resulted in carriers restricting bookings for 40 ft containers, they added.
PODCAST
How New D2C Brands are Changing The Industry
Digital Native and D2C brands, as an aggregate, are becoming a market force. In this podcast, Kevin Lynk, CEO of Creare, a New York-based apparel agency, talks about:
- What new brands need from suppliers – and how suppliers can leverage this to build customer loyalty.
- How D2C brands are setting new industry standards for sustainability and CSR.
- Key shifts that are redefining the apparel industry – for the better!
SUSTAINABILITY
Indorama Ventures (Thailand) is introducing a sustainability-linked bond, part of IVL’s financing strategy across a range of instruments linked to its sustainability targets. Read More
MATERIALS
While cotton prices continued to rise, prices for other materials retreated during the past week. Demand started to weaken in the pre-holiday period.
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