Latest news with #TradeandExportDevelopment
Hamilton Spectator
5 days ago
- Business
- Hamilton Spectator
Province leading the way in housing starts
Recent statistics from the Canada Mortgage and Housing Corporation show urban housing starts in Saskatchewan have grown by 108.6 per cent during the first five months of 2025, when compared with the same time last year. That surge in growth has ranked the province first place in Canada for growth in the category. 'The continued growth in housing starts reflects growing demand for homes,' said Melville-Saltcoats MLA and Minster of Trade and Export Development, Warren Kaeding. 'This demand is driven by a strong and growing economy and investment.' In May alone, urban housing starts have risen a staggering 205.9 per cent when compared to May, 2024—placing Saskatchewan in second amongst the provinces for year-over-year growth. Breaking down the numbers even further, work starting on single family homes rose 63.7 per cent while multi-unit residential construction rocketed by 617.9 per cent when comparing May 2025 to the year previous. 'Saskatchewan's economy continues to show positive momentum and investor confidence,' Kaeding said. 'More homes are being built, and more people are living and working across the province than ever before.' There are a few enticing factors that make Saskatchewan an attractive option for business as Kaeding pointed out. 'Saskatchewan's stable business environment, low taxes, utility rates, and competitive incentives are bringing opportunity, investment and jobs to the province,' he said. 'Initiatives such as Saskatchewan's Investment Attraction Strategy help to amplify growth in Saskatchewan and ensure continued business investment in the province. This investment supports resilient and vibrant communities for years to come.' At the local level, Moosomin made huge waves with their housing accelerator program, offering $30,000 to anyone interested in starting a build, plus more cash incentives for each additional door. With a deadline of 2027 to fulfill 43 new builds, the town is nicely poised to reach that target. At last count, there are 24 multi-unit/other, nine multi-unit/missing middle, and three other. To meet the 2027 goal, there needs to be 12 more new builds in the multi-unit/other category. 'We're sitting at 37; we need to hit 43, but we do still need another 12 units of multi-unit/other, so we're actually going to end up over the 43 units,' said Casey McCormac, EDO with Gateway Economic Development. 'I actually talked to council the other night and asked them if they wanted to just incentivize the multi-unit/other, but we still have a bit of funding left, so we're going to continue to keep it open to any type of housing units.' There is continued momentum around town these days, as McCormac noted. 'We have a new house going up that just started on Main Street,' she said. 'There's a house on Wright Road, it's a house with a secondary suite at the bottom of it. Then there's two more building permits in for houses that haven't started construction quite yet, but they will be starting hopefully soon.' As for commercial builds, 2024 certainly noted a sharp increase with the new Borderland Co-op Food Store and IJACK Technologies shop expansion as prime examples. 'We definitely did at the end of last year and beginning of this year,' McCormac said when asked about the rise in local commercial construction. 'I'm hoping to see a little bit more happening, but with the Borderline Co-op and IJACK's shop, there is definitely a lot of money and commercial investment in our area.' The only problem now is ensuring construction aligns with population demands, with the province officially cracking the 1.25 million people mark this year. As of April 1, Saskatchewan's population was estimated to be 1,253,569 with a second quarter increase of 20,501 people when compared with the same time last year. That growth has also extended to Moosomin, though we will need to wait until May 2026 for the official national population census to confirm by how many people. 'Even just with the six-plex and the 24 apartment units that were built, the six-plex is full, and I believe the 24 units are about three-quarters full,' McCormac said. 'And that filled up within a month, two months, maybe. We could potentially be a little faster (with construction), but there are definitely people that are still looking for places to live in Moosomin and aren't able to find them.' Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
African Manager
08-05-2025
- Business
- African Manager
Tunisia and Nigeria move toward establishing joint business council
A visiting Nigerian delegation proposed creating a joint business council and increasing trade meetings between economic operators of both countries during talks Tuesday with Tunisian Minister of Trade and Export Development Samir Abid. The initiative aims to strengthen commercial exchanges between the two nations. The Nigerian delegation is participating in the 8th International Conference on 'Financing Investment and Trade in Africa' (FITA 2025) in Tunis on May 6-7, themed 'Driving Africa's Transformation.' In a Wednesday statement, the Commerce Ministry announced Tunisia's invitation to the 'Invest in Bauchi' summit scheduled for July 2025 in Nigeria. The event will provide Tunisian businesses with investment opportunities in Bauchi region, particularly in agriculture, infrastructure, and energy sectors. Discussions in Tunis also featured presentation of the proposed Tunisia-Libya continental land trade corridor to sub-Saharan Africa, which would connect Tunisia and Libya with six landlocked African countries including Niger, Chad, Mali, Burkina Faso, and the Central African Republic. Tunisian and Nigerian operators emphasized enhancing bilateral cooperation to implement the African Continental Free Trade Area (AfCFTA) agreement. Both countries are participating in the AfCFTA Secretariat's Guided Trade Initiative (GTI). Nigeria holds a prominent position in Africa as the continent's largest economy by GDP and most populous nation.
African Manager
22-04-2025
- Business
- African Manager
How effective is trade defense for national industries?
At a workshop on 'Trade Defense Instruments' held Monday, April 21, at UTICA, Minister of Trade and Export Development Samir Abid emphasized the importance of equipping national industries with mechanisms to protect against unfair trade practices. The event marked the start of a nationwide campaign, with similar workshops scheduled for Bizerte (May 16, 2025), Gabes and Sfax (June 2025). Minister Abid stated that trade defense tools—permitted under World Trade Organization (WTO) agreements—allow member states to shield domestic industries from harmful import competition without violating international obligations. He pointed out that trade defense is in charge of investigating, researching and verifying all information obtained from importers, traders, producers, foreign exporters, associations and interested organizations, in accordance with law n° 98-106 of December 18, 1998 relating to import safeguard measures. Anti-dumping tool and unfair competition In accordance with Law No. 99-9 of 13 February 1999 on the defense against unfair import practices, this body also carries out investigations to determine the existence of alleged dumping or subsidization and to forecast its extent and impact. The tasks of the trade defense body, its composition and operating procedures are laid down by decree. On another subject, the Minister pointed out that 'Tunisia's experience in the field of trade defense is limited to the opening of a few investigations in the field of preventive measures, which led to the adoption of a single preventive measure in 2023, while no investigation has been opened in the field of anti-dumping or subsidies'. He added: 'The company benefiting from this measure was able to achieve an improvement in its results in 2024, and this will be specified in more detail at a later stage. According to Abid, there are several reasons for this limited experience, the most important of which are: – Tunisia's limited investigative authority in its current form, which is not in tune with the specific nature of work in the field of trade defense investigations. – The limited human and logistical resources allocated to the investigating body (5 executives in Tunisia versus 370 in Egypt / 34 in Morocco / 28 in Jordan / over 100 in the Gulf Cooperation Council countries). – Economic operators' unfamiliarity with this mechanism (…). For her part, Dorra Borgi, Director General of Foreign Trade, pointed out that Tunisia was the first Arab country to join the trade defense body. She pointed out that the mission of this new body is to investigate, research and verify all information obtained from importers, traders, producers, foreign exporters, associations and interested organizations.
African Manager
17-04-2025
- Business
- African Manager
Tunisia: olive oil secures global spotlight as fourth-largest exporter
Tunisia is poised to promote sustainable economic development, drive agricultural innovation, and solidify its position as a leading global supplier of premium olive-derived products. The future of Tunisian olive oil appears brighter than ever, according to recent statements by Tunisian officials. Trade and Export Development Minister Samir Abid announced that Tunisia now ranks as the fourth-largest global exporter of olive oil, holding a 10% share of worldwide exports. Over the past five years, overseas sales have shown a consistent upward trend. 'Tunisian olive oil, renowned for its nutritional benefits, continues to stand out for its exceptional quality. Thanks to the relentless efforts of our producers and targeted promotional initiatives, it has cemented its place in international markets and shone at top global competitions, earning a record number of awards and medals, Abid stated. In 2024, Tunisia exported olive oil worth 4.8 billion dinars to 64 destinations, up from 55 markets in 2023. Key European buyers include Italy, Spain, France, Portugal, and Belgium. Abid highlighted that packaged olive oil exports now account for 21% of total exports, marking a 92% surge in 2024. He emphasized the sector's critical role in the national economy and its 'exceptional quality,' which positions it for significant growth in the EU and global markets. 'We are witnessing stronger export opportunities and direct partnerships between Tunisian businesses and European market players,' he added. New national program to boost global presence An ambitious 2025 National Program to promote Tunisian olive oil has been launched, featuring 20 promotional initiatives aimed at strengthening its foothold in traditional markets while exploring new opportunities. Developed in collaboration with key stakeholders—including the Export Promotion Center (CEPEX), PACKTEC, the National Olive Oil Office (ONH), the Tunisian Confederation of Industry, Trade, and Handicrafts (UTICA), and olive heritage institutions—the program will focus on participation in international trade fairs, B2B meetings, overseas commercial days, and hosting potential buyers in Tunisia. 'These efforts will enhance global awareness and visibility of Tunisian olive oil in competitive markets,' Abid affirmed. Export revenue declines despite volume growth Despite rising export volumes, olive oil revenue for the first five months of the 2024/2025 campaign (ending March 2025) fell by 25.8% year-on-year to 2.126 billion dinars, according to the National Observatory of Agriculture (ONAGRI). The average price of olive oil dropped by 54% in March 2025 compared to the same month last year, ranging between 8 to 18.4 dinars per kilogram depending on grade. Export volumes, however, surged by 46.3% to 157,200 tons, with packaged oil representing just 10.2% of total exports. ONAGRI noted a stagnation in packaged oil exports compared to the previous campaign. Extra virgin olive oil dominated exports, making up 82.7% of total volume, while packaged oil contributed only 15.8% of revenue. Market distribution highlights EU dominance The EU remains the largest market for Tunisian olive oil, absorbing 60.8% of exports, followed by North America (23.2%) and Africa (9.8%). Italy leads as the top importer (29.8%), trailed by Spain (26.9%) and the United States (18.6%).
Hi Dubai
20-03-2025
- Business
- Hi Dubai
UAE and Tunisia Initiate CEPA Talks to Strengthen Trade and Investment Ties
The UAE and Tunisia have officially commenced negotiations for a Comprehensive Economic Partnership Agreement (CEPA) to enhance trade and investment flows between the two nations. In a virtual meeting, Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Samir Obeid, Tunisia's Minister of Trade and Export Development, reaffirmed their commitment to deepening bilateral economic cooperation. The proposed CEPA aims to reduce trade barriers, enhance market access, and establish strategic investment pathways across key sectors, fostering economic integration. Al Zeyoudi highlighted Tunisia's economic potential and emphasized that the UAE is Tunisia's leading trade partner in the GCC. Non-oil trade between the two nations reached US$350 million in 2024, reflecting a 7.7% growth from the previous year. He described the CEPA as a pivotal step toward unlocking new trade and investment opportunities. Obeid echoed this sentiment, stating that the agreement would provide a comprehensive framework for cooperation, driving mutual growth and benefiting priority sectors such as agriculture, manufacturing, and renewable energy. The UAE and Tunisia will now negotiate specific CEPA provisions, aiming for a balanced and mutually beneficial deal. This initiative aligns with the UAE's strategy to expand global trade partnerships, contributing to its record US$816 billion total trade in 2024, a 14.6% increase from 2023. With the potential to boost foreign investment and expand market access, the CEPA is set to strengthen UAE-Tunisia economic ties, fostering long-term prosperity for both nations. News Source: Emirates News Agency
