Happy New Year!

ExportPortal’s team wishes everyone a sparkling New Year. 

May the year ahead be full of contentment and joy.

Merry Christmas!

Buy the most unforgettable presents on Export Portal this Christmas and enjoy the holidays with your family.

 

Korea starts exporting fruit trees to Tajikistan!

Tajikistan imported 53,000 fruit trees from South Korea, and it’s just the beginning. By now the deal is estimated to be worth 210 million won (US$192,000), but the countries will continue the export-import affair.

The Chungbuk Farm Cooperative in Okcheon, North Chungcheong Province, sent the second shipment consisting of 10 kinds of fruit tree saplings, including apple, peach, persimmon and plum trees, to a port in Incheon, west of Seoul. The first shipment was made one week ago. They are expected to arrive in Tajikistan early 2018.

The deal was reached after the wife and daughter of Tajikistan President Emomali Rahmon tasted Korean fruit during their visit last month. After they returned home, a Tajikistan state-run firm contacted the cooperative and company officials visited the town, according to the cooperative.

Okcheon produces 11.2 million tree saplings a year, making up 70 percent of the domestic market.

Happy Black Friday!

"Whoever said that money can't buy happiness, simply didn't know where to go shopping." — Bo Derek
Happy Black Friday!

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Happy Thanksgiving!

On this Thanksgiving day, Export Portal wishes you a lifetime of happiness and health. Happy holidays!
#Happy_Thanksgiving #Thanksgiving2017 #happy_holidays

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Saudi Arabia's $500 Billion Fantasy of a Utopian Megacity

On a sandy peninsula in northwest Saudi Arabia, the only interruption to miles of desert was the wreck of a Catalina seaplane, abandoned by its American pilot in 1960 and now covered in Arabic graffiti.

But it’s here that Saudi Arabia’s crown prince plans Neom, a city from scratch that will be bigger than Dubai and have more robots than humans. Crown Prince Mohammed bin Salman envisions it as a “civilizational leap for humanity” outside the traditional Saudi constraints and a business hub with advanced manufacturing, bio-tech, media and airlines.

The sci-fi city with glimmering office towers and five-star hotels is supposed to represent Saudi efforts to transform a nation once swimming in oil money and now facing a severe financial squeeze. 

It would be a microcosm of Saudi Arabia 2.0 while its new 32-year-old leader reconfigures the rest of the economy to make it fit for the modern world in a way that past rulers have failed to do. Other massive cities in the desert have been announced with much fanfare, then have floundered short of expectations, like the $10 billion office park on the outskirts of Riyadh sitting largely unoccupied and unfinished. 

Neom is a combination of “neo,” or new, and a derivation from the Arabic word “mustaqbal,” or future. It will be partly located in an area known as Ras Sheikh al-Hameed, a peninsula of land jutting about 31 miles (50 kilometers) into waters of the Red Sea after turning west off of route 5, the Saudi coastal road.

Some 10,000 square miles (25,900 square kilometers) have been allocated for the development of the urban area that will stretch into Jordan and Egypt. More than twice the size of neighboring Qatar, the area was chosen because of its “strategic location” and proximity to international shipping routes. This year, Egypt signed a treaty to give the Saudis two islands essential for linking the project to the Sinai.

Spanish Economy Grows Despite Catalan Crisis

Spain registered economy growth despite the Catalan crisis. The National Statistics Institute INE revealed the rise of the gross domestic product (GDP) by 0.8 %. This happened due to high consumer demand, tourism boom and increasing export demand. Although Spain faces the Catalan crisis, the economy registered a slight growth.

However, a number of Institutions such as the International Monetary Fund forecasted a negative impact of crisis for future. The Catalan region accounts 19 % of the country’s total GDP. A great number of companies as CaixaBank, Banco Sabadell Gas Natural, Abertis have relocated from the Catalan region. 

The Spanish IBEX35 stock index rised up to 2.47%  demonstrating  the investor confidence.

Happy Halloween!

Halloween fun is soon to begin. Hope your day is awesome and full of great treats. Have a bewitching night and a very Happy Halloween.

#Happy_Halloween #Halloween2017 #trick_or_treat

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GREAT SUCCESS OF NORWEGIAN SALMON EXPORTS

Norway is considered to be the world’s largest producer of farmed salmon. The sector is the Nordic country’s second-largest export industry after oil and gas production.

The export price of fresh farmed Norwegian salmon rose to 55.32 Norwegian crowns ($6.91) per kilo last week, up from 54.52 crowns in the previous week.

Volumes exported increased to 18,824 tonnes from 18,213 tonnes over the same period, it added.

Leading Norwegian producers include Marine Harvest, Salmar, Leroy Seafood, Grieg Seafood, Austevoll Seafood and Norway Royal Salmon.

Other popular Norwegian exports are:

1. Oil and Gas

2. Wood Products

3. Industrial Machinery

4. Transport Equipment

5. Food 

6. Chemicals

7. Metals

8. Construction Materials

9. Ships and Boats

10. Optical Equipment

Sri Lanka Plans to Extend Its Coconut Exports

Fisheries and Aquatic Resources Development Minister and Mahaweli Development State Minister Mahinda Amaraweera displaced to mass media the plans of the country, and namely the fact that the Coconut Cultivation Board (CCB) will launch a program to distribute 1.5 million coconuts at the price of Rs.65 each.

The program will commence on October 2, and coconuts will be sold by mobile vans of the CCB in Colombo, Hambantota and Matara Districts.

Further speaking the Minister said that Consumer Affairs Authority (CAA) had been instructed by the President to take action against the organizations and businessmen who are unnecessarily harassing customers.

Various organizations are deliberately trying to raise the prices of certain goods. The coconuts will be purchased from Kurunegala District. About 2,000 Coconut Planters’ Societies have been set up countrywide.

Other important Sri Lanka exports are:

1. Textiles and apparel;

2. Tea and spices;

3. Diamonds;

4. Emeralds;

5. Rubies;

6. Rubber products;

7. Fish.

Incredible Popularity of Electric Cars All Around The Globe

It’s 10 years since Apple Inc. unleashed a surge of innovation that upended the mobile phone industry. Electric cars, with a little help from ride-hailing and self-driving technology, could be about to pull the same trick on Big Oil. 

The rise of Tesla Inc. and its rivals could be turbo charged by complementary services from Uber Technologies Inc. and Alphabet Inc.’s Waymo unit, just as the iPhone rode the app economy and fast mobile internet to decimate mobile phone giants like Nokia Oyj. 

The culmination of these technologies — autonomous electric cars available on demand — could transform how people travel and confound predictions that battery-powered vehicles will have a limited impact on oil demand in the coming decades. 

Most forecasters see the shift away from oil in transport as an incremental process guided by slow improvements in the cost and capacity of batteries and progressive tightening of emissions standards. But big economic shifts are rarely that straightforward.

Professional traders see electric cars as the main destroyer of international oil industry. International energy suppliers, on the contrary, predict the success of this project that would bring them huge income. 

Tesla Cars are going to come in different sizes, colors and capacities so, every family will have the possibility to buy it for daily use!

First US Crude Oil Export to India Comes From Texas

India purchased US crude oil for the first time after the four-decade ban on exports of US oil was lifted. In August, Texas Governor Greg Abbott received papers of the shipment from Indian Ambassador to the United States Navtej Sarna for the first oil trade, which was worth $100 million.

India is the world’s third largest oil importer — behind China and the United States — as well as the largest contributor to incremental oil consumption in 2016 among major economies. With huge demand of oil consumption and low domestic production, India is expected to increase oil imports over the next 20 years. Senator Ted Cruz stated that Texas will export crude oil to India as a reliable and stable partner.

Indian Oil Corporation, India’s largest private enterprise, and Bharat Petroleum, a state-controlled oil company, have started ordering crude oil from the United States. Last month, these two oil companies have ordered over 6 million barrels of US crude oil. In June, Indian Prime Minister Modi and President Trump promoted a fair bilateral trade relationship to boost economic growth on both sides during Modi’s visit to the White House. Under the closer bilateral trade relationship, and low prices on American oil, Indian oil companies are warming to the prospect of importing US crude oil. 

While this is the first crude oil import from Texas, India has made significant purchases of petroleum, chemical, and coal products from Texas previously. In 2016, Texas exported $2.1 billion in goods and services to India, ranking as the third largest exporting state to the country. As a top exporter to India and a leader in crude oil reserve and production in the United States, Texas is expecting a growing economic relationship with India. 

Raw Materials on The Top of Iran’s Export

Raw materials still share the dominant part of Iran’s non-oil export basket. Gas condensates, propane, butane and some other raw petroleum products - which Iran puts in the non-oil exports basket- made the country’s top exported goods during the 4-month period. 

It is also notable that the exports from the petrochemical, and industry, the two ‎key sectors in the economy show a decline of 3.7 and 17.7 percent in value ‎during this period compared with the similar period a year earlier whilst the ‎mining sector and traditional commodities (carpets and traditional craft) show ‎increases in the value of 36.7 and 6.6 percent. 

A prosperous economy in Iran could act as an engine of growth for the region as ‎well as benefiting the advanced industrial economies of the world to expand their ‎trade links in the region.

Other important exports of the country are:

1. Nuts

2. Fruits

3. Salt

4. Chemicals

5. Stones

6. Cement

7. Carpets

8. Industrial Supplies

9. Plastic

10. Saffron