Tag: bilateral

  • Iran Prez says Syria visit marks turning point in bilateral ties

    Iran Prez says Syria visit marks turning point in bilateral ties

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    Tehran: Ebrahim Raisi, who became the first Iranian President to visit Damascus after the Syrian war erupted in 2011, said on Friday that the landmark two-day trip was a “turning point” in improving bilateral political, economic, trade and security ties.

    Raisi told reporters here following his arrival from Syria that the trip was of great importance for both sides and the region after 12 years of resistance by the Syrian people and government against enemies’ conspiracies and seditious acts, Xinhua news agency reported citing local media.

    He noted that Iran appreciates Syria’s resistance against the “tough attacks,” and Tehran’s support in the process made Syria and the region believe that Iran is a “strong pillar” they can trust and rely on.

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    The two sides are capable of enhancing cooperation regarding economic and trade relations, said the President, noting that they have signed 15 documents on cooperation in the fields of producing and distributing energy, establishing joint banks and insurance companies, reducing trade tariffs, enhancing transit among Iran, Iraq and Syria and reviving Syria’s agricultural, industrial and energy sectors.

    Raisi had reached Damascus on Wednesday for extensive political and economic talks with his Syrian counterpart, Bashar al-Assad, with a high-level political and economic delegation.

    (Except for the headline, the story has not been edited by Siasat staff and is published from a syndicated feed.)

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    ( With inputs from www.siasat.com )

  • India-UAE bilateral trade under CEPA sees 16% rise between 2021-22 & 2022-23

    India-UAE bilateral trade under CEPA sees 16% rise between 2021-22 & 2022-23

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    New Delhi: Bilateral trade between India and the UAE under the comprehensive economic partnership agreement (CEPA) has increased from $72.9 billion (April 2021-March 2022) to $84.5 billion (April 2022-March 2023), registering a year-on-year growth of 16 per cent, Commerce Secretary Sunil Barthwal said on the first anniversary of CEPA.

    CEPA is a full and deep agreement which was signed on February 18, 2022, during a virtual summit between Prime Minister Narendra Modi, and President of the UAE and the ruler of Abu Dhabi, Sheikh Mohamed bin Zayed Al Nahyan. The CEPA came into force from May 1, 2022.

    During the CEPA implementation period (i.e. from May 2022 to March 2023), bilateral trade increased from $67.5 billion (May 2021-March 2022) to $76.9 billion (May 22-March 2023), showing an annual increase of 14 per cent, official sources said.

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    Exports from India to the UAE have also risen, as during April-March period, Indian exports to the UAE increased from $28 billion to $31.3 billion, an increase of around $3.3 billion or 11.8 per cent year-on-year.

    During the same period, growth in India’s global exports was 5.3 per cent, excluding the UAE, India’s global exports grew at 4.8 per cent.

    During the CEPA implementation period, India’s exports to the UAE increased from $26.2 billion (May 2021 – March 2022) to $28.5 billion (May 2022 – March 2023), a rise of 8.5 per cent.

    During the same period, India’s global exports, excluding the UAE, grew at 3.1 per cent. India’s imports from the UAE have grown to $53.2 billion (an annual increase of 18.8 per cent) during April 2022 to March 2023.

    Non-oil imports during the same period grew by 4.1 per cent.

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    ( With inputs from www.siasat.com )

  • Iranian, UAE FMs call for stronger bilateral cooperation

    Iranian, UAE FMs call for stronger bilateral cooperation

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    Tehran: Iranian Foreign Minister Hossein Amir-Abdollahian and his counterpart of the United Arab Emirates (UAE) Sheikh Abdullah bin Zayed Al Nahyan have agreed to expand cooperation in various fields.

    During a phone call, Iran’s Amir-Abdollahian and UAE’s Sheikh Abdullah agreed to expand cooperation in various fields, including the private sector, Xinhua news agency reported, citing the Iranian Foreign Ministry’s website.

    Amir-Abdollahian said the bilateral relations are improving, and active meetings and exchanges between the two countries’ officials are underway, stressing that Iran has no limits to all-out expansion of its relations with the UAE.

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    Sheikh Abdullah, for his part, said promoting bilateral relations in various fields bears on the two countries’ common interests, adding there are diverse opportunities to enhance cooperation.

    The top UAE diplomat said he noticed an array of regional countries have seen strengthened bilateral ties lately, including the normalisation between Iran and Saudi Arabia, and the development in Syria.

    In early April, Iran appointed its first ambassador to UAE since 2016 amid thawing relations. The UAE reinstated its ambassador in Tehran in September, 2022.

    In 2016, the UAE downgraded its relations with Iran after Riyadh cut diplomatic ties with Tehran.

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    ( With inputs from www.siasat.com )

  • Sitharaman meets US Commerce Secy; discusses bilateral coop to boost trade, investment

    Sitharaman meets US Commerce Secy; discusses bilateral coop to boost trade, investment

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    New Delhi: Finance Minister Nirmala Sitharaman on Thursday met US Commerce Secretary Gina Raimondo to discuss India’s G20 priorities and bilateral cooperation to further boost investment and trade.

    In a tweet, the Finance Ministry said Sitharaman and Raimondo also appreciated the substantial and multi-faceted India-US relations which are centred on strong economic and financial engagements.

    Raimondo is here for the India-US Commercial Dialogue and India-US CEO Forum meet on March 10 to discuss cooperation in various sectors that could unlock new trade and investment opportunities between the two countries.

    The two leaders also discussed India’s G20 priorities and other issues of mutual interest.

    “During their deliberations, FM Smt. @nsitharaman and Secretary Ms. @SecRaimondo also exchanged views on enhancing #bilateral cooperation to further boost #investment and #trade in mutually agreed areas,” the ministry tweeted.

    In a separate tweet, the ministry said Mastercard CEO Michael Miebach too called on Sitharaman on Thursday.

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    ( With inputs from www.siasat.com )

  • Egyptian president, Iraqi PM meet on bilateral, regional affairs

    Egyptian president, Iraqi PM meet on bilateral, regional affairs

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    Cairo: Egyptian President Abdel-Fattah al-Sisi met with visiting Iraqi Prime Minister Mohammed Shia’ al-Sudani here to discuss issues of mutual interest.

    During the meeting on Sunday, the two leaders agreed that sustained coordination is a must for facing challenges and restoring peace and stability in the region, according to the Egyptian Presidency.

    Sisi highlighted Egypt’s unwavering support for Iraq and its people at all levels, particularly in the fight against terrorism and for the country’s security and stability, Xinhua news agency reported.

    Egypt is willing to diversify and put into work various frameworks of political, economic, and cultural cooperation with Iraq, Sisi said, stressing the need to intensify cooperation within the framework of the Trilateral Cooperation Mechanism among Egypt, Iraq and Jordan.

    For his part, al-Sudani lauded the firm and historical bonds between the two countries and Egypt’s efforts to support Iraq at all levels.

    In this respect, he appreciated the “prominent role” that Egypt has played in forwarding the mechanisms of joint Arab action to maintain peace and development in spite of challenges in the region.

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    ( With inputs from www.siasat.com )

  • India-UAE Business Council launched to boost bilateral trade and investment

    India-UAE Business Council launched to boost bilateral trade and investment

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    Dubai: Marking the first anniversary of the India-UAE Comprehensive Economic Partnership Agreement (CEPA), the two sides have launched the UAE chapter of their joint business chamber to bolster economic ties and facilitate enhancing bilateral trade and investment.

    India and the United Arab Emirates (UAE) inked a CEPA on February 18 last year to boost trade ties following a virtual summit between Prime Minister Narendra Modi and Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan.

    The UAE India Business Council – UAE Chapter (UIBC-UC) was launched on Saturday by Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, in the presence of Ambassador of India to the UAE, Sunjay Sudhir, Consul General of India in Dubai Aman Puri and founding members of the UBIC-UC.

    The two nations aim to increase bilateral trade to USD 100 billion and attract USD 75 billion in investment from the UAE to India.

    The UIBC-UC is poised to play a crucial role in supporting both governments in achieving these objectives and maximising the potential of the UAE-India relationship.

    By leveraging the strong bond between the two nations, the council brings together key partners and stakeholders from both nations and will serve as a valuable source of policy guidance, fostering innovative collaboration between Emirati and Indian businesses.

    Speaking on this occasion, Minister Zeyoudi highlighted that the establishment of the UAE Chapter of the UAE India Business Council marks a significant moment in the deepening of the relationship between the United Arab Emirates and India.

    He also mentioned that the Council will play a critical role in supporting the two governments in their joint mission to boost bilateral trade and investment. He expressed confidence that it will catalyse innovative collaboration between our two great nations.

    Ambassador Sudhir said, “The launch today marks a significant milestone in the strengthening of the relationship between the United Arab Emirates and India.”

    The UIBC-UC will serve as the counterpart organisation to the UIBC India Chapter, which was established in New Delhi on September 3, 2015, by Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister for Foreign Affairs and International Cooperation, and Sushma Swaraj, then Minister of External Affairs of India.

    The UAE India Business Council – UAE Chapter (UIBC-UC) has been set up with the approval of UAE’s Ministry of Foreign Affairs and International Cooperation and the Ministry of External Affairs, Government of India.

    The UIBC-UC will operate under the supervision of the Federation of UAE Chambers of Commerce & Industry and has been registered as a legal and financial entity with the Dubai Chamber of Commerce. The council will have its office in Abu Dhabi and will be a pan UAE body focussing on promoting trade and investment relations between the UAE and India. Membership to UIBC-UC will be by invitation only, and institutional members will be invited over time.

    Faizal Kottikollon, Chairman, of KEF Holdings, who has been appointed as the Chairman of UIBC-UC, said the council’s focus will be to identify significant strategic projects that can be undertaken by both countries.

    “This includes investments in large infrastructure projects in India, advancements in manufacturing and technology, and providing Indian manufacturers with the ability to use the UAE as a base for their global expansion,” he said.

    Rizwan Soomar, CEO & MD (India Subcontinent) at DP World, will serve as the Co-Chairman of UIBC-UC.

    Major General (Retd.) Sharafuddin Sharaf, who serves as the Chairman of the UIBC India Chapter, will also hold the position of Vice Chairman of UIBC-UC.

    The founding members of the UIBC-UC from the UAE side are Mubadala Sovereign Wealth Fund of the UAE, Wizz Financial, DP World, EMAAR, Emirates Airlines, and Emirates NBD Bank.

    From the Indian side, large conglomerates such as TATA, Reliance, and Adani as well as tech innovators like OLA, Zerodha, Udaan, and EaseMyTrip along with prominent Indian entrepreneur led Corporations based in the UAE such as KEF Holdings, Buimerc Corporation, Apparel Group, EFS and Lulu Financial are represented.

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    ( With inputs from www.siasat.com )

  • Blinken warns China of ‘serious consequences’ on bilateral ties for aiding Russia

    Blinken warns China of ‘serious consequences’ on bilateral ties for aiding Russia

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    Washington: US Secretary of State Antony Blinken has warned China that providing “lethal support” for Russia’s war against Ukraine will have “serious consequences” on bilateral ties between the two countries and condemned Beijing’s balloon incursion, saying it “must never happen again.”

    Blinken and Wang Yi, the Chinese Communist Party’s senior-most foreign policy official, held hourlong talks in Munich on Saturday, where they were attending an international security conference, according to the US State Department.

    The two high-profile diplomats met in their first high-level contact since the US shot down an alleged Chinese spy balloon a fortnight ago.

    “I made very clear to him that China sending a surveillance balloon over the US, in violation of our sovereignty, in violation of international law, was unacceptable, and must never happen again,” Blinken told CBS News in an interview.

    His spokesman, Ned Price, said Blinken also told the Chinese diplomat that his nation’s “high-altitude surveillance balloon programme — which has intruded into the airspace of more than 40 countries across five continents — was exposed to the world.”

    The balloon incident prompted Blinken to postpone a planned visit to Beijing.

    The February 5-6 trip would have been the first by a US secretary of state to China in five years and was seen by both countries as an opportunity to stabilise their strained ties.

    During Saturday’s meeting, Blinken also raised the Russia-Ukraine war with Wang.

    “There were concerns that China was considering providing lethal support to Russia in its war against Ukraine. I was able to share with him, as President Biden had shared with President Xi, the serious consequences that would have for our relationship,” Blinken said.

    He also underscored the importance of maintaining diplomatic dialogue and open lines of communication at all times.

    “Finally, it was important for me to underscore that we believe having lines of communication, engaging in direct diplomacy, is very important. We have a responsibility to manage our relationship in a responsible manner,” he added.

    The two diplomats could meet again in New Delhi next month on the sidelines of the G-20 Foreign Ministers meeting.

    The meeting between the two senior officials came hours after Wang renewed Beijing’s criticism of the US for shooting down what Washington says was a Chinese spy balloon, arguing at the conference in Germany that the move doesn’t point to US strength.

    “The actions don’t show that the US is big and strong, but describe the exact opposite,” Wang explained.

    “This is actually a political farce created by the US. We have categorically told them that this is a civilian unmanned airship. Due to the influence of the super westerly winds and its limited control ability, it deviated from the planned path and entered the skies over the US. We have asked them to work with China and handle it properly in a rational, calm and professional manner,” Xinhua news agency, quoted Wang as saying.

    After delivering the keynote speech at the Munich Security Conference, Wang told the Chinese media that everyone is concerned about how the recent balloon incident has strained the Sino-US relations.

    “Regrettably, the US ignored the basic facts and brazenly dispatched fighter planes to shoot down a non-threatening airship with missiles. This behaviour is unbelievable, almost hysterical, and a 100 per cent abuse of force, which clearly violates international conventions,” he added.

    Wang urged Washington to show sincerity, correct its mistakes and resolve the damage caused to the Sino-US relations due to this incident.

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    ( With inputs from www.siasat.com )

  • UAE-India Business Council launched to boost bilateral trade

    UAE-India Business Council launched to boost bilateral trade

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    Dubai: Marking the first anniversary of India-UAE Comprehensive Economic Partnership Agreement (CEPA), the top business houses of India and UAE came together to open the UAE India Business Council – UAE Chapter (UIBC-UC), to bolster economic ties and facilitate shared goal of enhancing bilateral trade and investment.

    The UIBC-UC was launched by UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi, in the presence of Ambassador of India to the UAE Sunjay Sudhir, Consul General of India in Dubai Aman Puri and founding members of the UBIC-UC.

    The founding members of the UIBC-UC from the Indian side, large conglomerates such as TATA, Reliance, and Adani are represented, as well as tech innovators like Ola, Zerodha, Udaan, and EaseMyTrip, along with prominent Indian entrepreneur-led corporations based in the UAE such as KEF Holdings, Buimerc Corporation, Apparel Group, EFS and Lulu Financial. From the UAE side are: Mubadala – Sovereign Wealth Fund of the UAE, Wizz Financial, DP World, EMAAR, Emirates Airlines, Emirates NBD Bank.

    The two nations aim to increase bilateral trade to $100 billion and attract $75 billion in investment from the UAE to India. The UIBC-UC is poised to play a crucial role in supporting both governments in achieving these objectives and maximising the potential of the UAE-India relationship. By leveraging the strong bond between the two nations, the council brings together key partners and stakeholders from both nations and will serve as a valuable source of policy guidance, fostering innovative collaboration between Emirati and Indian businesses.

    Speaking on the occasion, Thani bin Ahmed Al Zeyoudi highlighted that the establishment of the UAE Chapter of the UAE India Business Council marks a significant moment in the deepening of the relationship between the United Arab Emirates and India. He also mentioned that the Council will play a critical role in supporting the two governments in their joint mission to boost bilateral trade and investment.

    Indian Ambassador to the UAE, Sunjay Sudhir, said, “The launch today marks a significant milestone in the strengthening of the relationship between the United Arab Emirates and India. I extend my sincere congratulations to all the founding members of the UAE India Business Council and look forward to seeing the Council’s initiatives drive greater prosperity for both nations.”

    The UIBC-UC will serve as the counterpart organisation to the UIBC India Chapter, which was established in New Delhi on September 3, 2015, by UAE Minister for Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan and then Indian Foreign Minister Sushma Swaraj, during the 11th Session of the India-UAE Joint Commission Meeting.

    Chairman KEF Holdings, Faizal Kottikollon, who has been appointed as the Chairman of UIBC-UC, said that “The council’s focus will be to identify significant strategic projects that can be undertaken by both countries. This includes investments in large infrastructure projects in India, advancements in manufacturing and technology, and providing Indian manufacturers with the ability to use the UAE as a base for their global expansion.”

    CEO & MD (India Subcontinent) at DP World, Rizwan Soomar, will serve as the Co-Chairman of UIBC-UC.

    Major General (Retd) Sharafuddin Sharaf, who serves as the Chairman of the UIBC India Chapter, will also hold the position of Vice Chairman of UIBC-UC.

    On the occasion, Consul General of India in Dubai, Aman Puri, expressed his gratitude to the Founding Members of the UAE India Business Council (UIBC-UC) for their support in establishing the organisation. He highlighted the platform’s significance in providing a space for UAE and Indian businesses to collaborate, identify new opportunities, and overcome existing challenges.

    Vikas Anand, who brings 25 years of experience in banking and was recently the group head of operations for First Abu Dhabi Bank, has been named as the Chief Operating Officer for UIBC-UC and will be responsible for advancing the Council’s mission to strengthen bilateral trade and commerce between the two nations.

    The launch of the UAE Chapter on Saturday coincides with the first anniversary of the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries on February 18, 2022, underscoring the deep commitment of both nations to strengthening their economic and business relations.

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    ( With inputs from www.siasat.com )

  • Biden brought down a Chinese spy balloon. But he hasn’t tanked bilateral ties

    Biden brought down a Chinese spy balloon. But he hasn’t tanked bilateral ties

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    This latest incident hits home in the U.S. — literally — because the nonstop coverage of the balloon’s presence in American airspace and its destruction captured on live video made the China threat real for many.

    “This was a pretty big hit for the [public] trust factor in U.S.-China relations — Chinese spying has never been so front and center in the American public consciousness,” said Lyle Morris, former country director for China at the Office of the Secretary of Defense. “If there were any people still on the fence about a China threat or not, that’s pretty much been foreclosed.”

    In the short term, GOP lawmakers are arguing that Biden needs to get tougher on China. A senior State Department official sounded a similar stern line on Beijing by calling the balloon’s incursion “a clear violation of our sovereignty” and declaring that it was “unacceptable”in a press briefing on Friday.

    China’s Foreign Ministry issued a statement on Saturday protesting Biden’s decision to shoot down the surveillance balloon. The ministry called the downing of the airship “a clear overreaction and a serious violation of international practice” and warned that China reserved the right “to make further responses if necessary.”

    But the incident will likely only further bruise, rather than break, the bilateral relationship.

    Regardless of rampant political rhetoric about economic decoupling, the two countries are too interdependent to opt for a drastic downgrade in bilateral ties. Both the Biden administration and senior Chinese officials, including paramount leader Xi Jinping, have recently emphasized the need to improve the tenor in the U.S.-China relationship. And historically, other U.S.-Chinese incidents that have roiled the relationship eventually faded in favor of resumed, if strained, ties.

    In recent weeks, Xi and his aides have launched a charm offensive aimed at easing tensions with Washington as they struggle with a Covid outbreak and an economic downturn. The Chinese government was even preparing to welcome Secretary of State Antony Blinken for a now-postponed visit in which he would potentially have met with Xi.

    And because the discovery of the airship is an untimely embarrassment for Xi, he may keep China’s response to the downing limited. In fact, Beijing signaled its desire to prevent the balloon incursion from rupturing ties by issuing a rare expression of “regrets,” although it also claimed the object was a weather balloon that went off course.

    In comments Saturday to reporters, Biden said he ordered on Wednesday that the balloon be shot down “as soon as possible.” Ultimately, authorities decided to wait until the object was over water to avoid “doing damage to anyone on the ground,” the president said.

    Biden did not answer a question about how the decision would affect U.S. relations with China. Foreign affairs observers, however, predicted that both Beijing and Washington would try to minimize the fallout.

    “The Biden administration has already signaled that it will seek to reschedule the Blinken visit when conditions allow,” noted Daniel Russel, a former senior Asia hand in the Obama administration who has close ties to Biden aides. “If this closes the book on the incident, the two sides can get back to work. If, instead, the Chinese elect to play the aggrieved victim or to retaliate, we may find ourselves back climbing the escalation ladder.”

    Should the United States recover the remnants of the balloon and prove that it is a spy contraption and not a weather tracker, that could further embarrass Xi and lead him to back down. Biden could use that wreckage “to humiliate China or as a bargaining chip in private discussions,” said Yun Sun, China program director at the Stimson Center.

    The Chinese embassy in Washington, D.C., didn’t respond to a request for comment.

    The United States and China have a history of recovering from relation-disrupting incidents that initially outraged the other.

    On May 7, 1999, for instance, a U.S.-led NATO air campaign bombed China’s embassy in Belgrade, killing three Chinese journalists and wounding 20 other Chinese citizens. Though the United States insisted the bombing was a mistake, to this day it is a source of sore feelings in China, where one state media account in 2021 called it “barbaric.” Still, the incident hasn’t prevented efforts to improve relations.

    In 2001, a U.S. spy plane collided with a Chinese fighter jet over the South China Sea and landed in China’s Hainan island. China detained the U.S. plane’s 24-member crew for 11 days, during which the fighter jet pilot was said to have died. After several days of tense negotiations, the two countries brokered a deal hinged on a U.S. expression of regret for the incident.

    Even years of rising tensions over Taiwan, the self-governing democratic island that Beijing claims as its own, have not severed ties. In 2013, when Biden was vice president, Beijing declared the launch of an “air defense identification zone” in the East China Sea. Biden went to China with the message that Washington would not recognize the zone; U.S. military planes were already flying through it without Chinese permission.

    Biden has also repeatedly said the administration will send U.S. troops to help Taiwan if China attacks, although official U.S. policy is more ambiguous.

    And when then-House Speaker Nancy Pelosi visited Taiwan in August, the Chinese government reacted furiously, conducting days of live fire military drills around the island. Beijing also suspended bilateral military dialogues and joint efforts in China’s role in the U.S. opioid crisis.

    But three months later, Biden met with Xi on the sidelines of the G-20 summit in Indonesia, and both pledged to try to ease tensions in order to “manage this competition responsibly.” The Chinese government has also recently shifted to a softer diplomatic tone — an effort by Beijing to reduce U.S.-China tensions while it grapples with a disastrous Covid outbreak and an economic downturn.

    The balloon incident is likely to reverberate strongly on Capitol Hill, where there is a bipartisan consensus that China poses a long-term threat to U.S. power.

    “Congress will almost certainly hold hearings about the administration’s response, which will extend this story’s shelf life and raise important questions about the efficacy of the Biden administration’s China policy,” said Craig Singleton, senior China fellow at the Foundation for Defense of Democracies.

    The possibility of Blinken going ahead with the trip to China was considered before it was ultimately postponed after administration officials realized the visit would be overshadowed by questions about a balloon that could still be hovering over U.S. soil.

    “The objective of the trip was to seek a ‘floor’ in relationship and explore potential areas of cooperation in mutual interest,” a U.S. official familiar with the issue said, speaking on condition of anonymity because of the sensitivity of the matter.

    The balloon, however, “would have dominated all the conversations,” the official said. “It was better to postpone for a better time, and the interagency all agreed with that.”

    It’s not clear when Blinken will reschedule his trip. Whether Chinese officials agree to host him fairly soon could be a sign of how quickly they want to put the balloon incident behind them.

    Adam Cancryn contributed to this report.

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    ( With inputs from : www.politico.com )