Vietnam and Japan launch new ODA program for ecological transition
1. On March 18, the Japan International Cooperation Agency (JICA), in collaboration with the Vietnamese Ministry of Finance, organized a workshop on the “Program-loan for ecological transition towards green growth and climate change adaptation.” This loan, worth 50 billion yen (approximately 320 million US dollars), has been approved by the governments of both countries and is expected to be signed in March 2026.
2. The escalating conflicts in the Middle East are weakening the global energy system, with Asia being the most exposed region. The situation in the Strait of Hormuz, a strategic navigation route for oil and gas, is becoming a crucial factor for the global economic outlook in the coming months.
3. The conflict in the Middle East is causing a global crisis in fertilizers, as the quasi-blockade of the Strait of Hormuz – a vital maritime route for about a third of the global fertilizer supply – due to the Middle East conflict is causing an unprecedented shock in the global agricultural sector.
4. The United States proposes the creation of a Trade Council with China to rebalance economic relations, aiming to supervise and regulate trade between the United States and China more formally to address what American officials have long considered unequal economic relations.
5. The EU-MERCOSUR agreement completes the ratification process in South America, as Paraguay officially ratified the free trade agreement between the European Union (EU) and the Southern Common Market (MERCOSUR) on March 18, becoming the last member state of the bloc to complete the relevant legal process.
6. The Japanese government intervenes as gasoline prices reach new highs, as the government is set to resume subsidies on gasoline and diesel from March 19, as fuel prices have reached unprecedented levels.
7. China grants licenses to national companies to purchase AI chips from Nvidia, as Chinese authorities have officially granted licenses to several domestic companies to purchase the H200 series of artificial intelligence chips from the American tech giant Nvidia.
8. Indonesia postpones the ratification of the ART as the US opens a trade investigation, with the Indonesian government announcing a temporary suspension of the ratification process of the Agreement on Reciprocal Trade (ART) with the United States, as the US launches new investigations under article 301 on allegations of unfair trade practices.
9. Iraq partially resumes oil exports via Turkey, as the Iraqi government announced on March 18 that it has begun to partially restore its oil exports to the tune of 250,000 barrels per day via the Turkish port of Ceyhan, following a sharp drop in Iraqi oil production due to disruptions in the Strait of Hormuz.
Source: Link
