Anwar Gargash meets with China's Special Envoy on Middle East
29 Apr 2025 16:13
ABU DHABI (WAM)Dr. Anwar Gargash, Diplomatic Adviser to the UAE President, met today with Zhai Jun, Special Envoy of the Chinese Government on the Middle East Issue.During the meeting, the two sides discussed ways to enhance cooperation, in line with the comprehensive strategic partnership between the two friendly countries, and reviewed a number of regional and international issues of common interest.Dr. Gargash reiterated the UAE's firm position in support of peace and stability in the region, emphasising that the major challenges facing the Middle East call for strengthened dialogue and communication, prioritising diplomatic solutions, and intensifying regional and international efforts to advance a comprehensive peace process.
The meeting was attended by Zhang Yiming, Ambassador of the People's Republic of China to the UAE.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
2 hours ago
- Al Etihad
Abdullah bin Zayed, US Secretary of State discuss ties, regional developments
11 June 2025 10:28 WASHINGTON DC (WAM) His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, met with Marco Rubio, US Secretary of State, during a working visit to the US capital, Washington welcomed the visit of His Highness Sheikh Abdullah bin Zayed and the accompanying delegation. The meeting, held at the US Department of State headquarters, focused on the strategic ties between the two countries and explored ways to advance them in support of their shared two ministers reviewed avenues of bilateral cooperation across several developmental sectors, particularly in the economic, commercial, scientific, advanced technology and artificial intelligence also covered the state visit of US President Donald Trump to the UAE in May, with both sides affirming that the visit's outcomes reflected the strength of the UAE-US ties and their joint resolve to deepen cooperation and expand partnership in all Highness Sheikh Abdullah bin Zayed praised the long-standing strategic partnership between the UAE and the United States, underscoring that the US remains a key strategic ally. His Highness expressed the UAE's commitment to work jointly with the US to further strengthen this exceptional relationship in a way that achieves greater prosperity and sustainable development for both nations and their the meeting, His Highness Sheikh Abdullah bin Zayed and Marco Rubio also discussed overall regional Highness Sheikh Abdullah reaffirmed the UAE's keenness to cooperate with the United States and regional and international partners in promoting peace and stability, and in fostering the values of coexistence and human fraternity in societies. The meeting was attended by Yousef Al Otaiba, UAE Ambassador to the US; Lana Zaki Nusseibeh, Assistant Minister for Political Affairs; Saeed Mubarak Al Hajeri, Assistant Minister for Economic and Trade Affairs; and Dr. Maha Taysir Barakat, Assistant Minister for Medical Affairs and Life Sciences at the Ministry of Foreign Affairs.
Arabian Post
11 hours ago
- Arabian Post
Ethiopia Targets 8.9 % Growth as Budget Widens
Ethiopia's finance minister has announced that the economy is projected to expand by 8.9 % in the fiscal year beginning 8 July 2025, alongside a modest increase in the budget deficit amid structural reforms. Finance Minister Ahmed Shide addressed parliament on Tuesday, outlining the forecast for the next fiscal year, citing an acceleration in real GDP growth from an estimated 8.4 % this year to 8.9 % next year. The state budget deficit is expected to rise slightly to 2.2 % of GDP, compared to 2.1 % in the current year. Total government expenditure is projected at 1.9 trillion birr, equivalent to around US $14 billion. This positive outlook is deeply anchored in ongoing reforms backed by an International Monetary Fund programme. These include the liberalisation of the exchange rate, debt restructuring negotiations, and the establishment of the Ethiopian Securities Exchange, which opened in January after a 50‑year absence. ADVERTISEMENT The cabinet's approval of the new budget earlier this month signalled a strategic reallocation of resources, with spending set to increase by 31 % compared to the previous year's 971 billion birr. A significant portion is earmarked for national security, productivity enhancement, and disaster relief, including continued subsidies for fuel, fertiliser, oil and medicines—a move aimed at dampening inflationary pressure on households. Reforms and their impacts The IMF programme that began in July 2024 has been a linchpin in the reform agenda. In April, State Finance Minister Eyob Tekalign reported that the third review of the four‑year US $3.4 billion loan arrangement had reached staff‑level agreement, with approval by the IMF executive board anticipated this month. Subsequent draws will hinge on continued reform progress, notably debt restructuring. Debt, inflation and exchange rate liberalisation remain pressing concerns. A draft budget revealed that 463 billion birr—nearly 39 % of recurrent expenditure—will go towards debt servicing, surpassing planned capital outlays. The government intends to restructure approximately US $3.5 billion in external liabilities through agreements in upcoming weeks. Bondholder writedowns are expected as part of a broader debt resolution strategy. Monetary reforms have lessened inflation, which reached 29.2 % in 2022/23, and narrowed the spread between official and parallel exchange rates. Foreign reserves have rebounded, tripling to US $3.6 billion, easing foreign exchange shortages. These financial indicators have been central in IMF assessments. Policy makers are awaiting formal debt restructuring talks this summer with official and private creditors alike, guided by the G20 Common Framework. Iran‑timed agreements with Chinese policy banks, the U.S. International Development Finance Corporation and other funders are being explored to support infrastructure and development needs. Regional comparisons and strategic outlook Ethiopia remains one of sub‑Saharan Africa's highest growth economies, although still below the pre‑covid annual average of around 10 %. The country's trajectory continues to be shaped by recovery from the Tigray war, covid‑19 disruptions, droughts and locust invasions, but ongoing reforms are expected to unlock further expansion. The imminent fiscal year budget, combining a steep rise in expenditure with a stabilising deficit, underscores a cautious but ambitious strategy: focusing on debt management, reform momentum and public service delivery, rather than unfettered spending. Key stakeholders, including opposition figures such as Desalegn Chane of the National Movement of Amhara, have voiced concern over rising tax burdens amid steady living costs and a depreciating birr. Criticism has targeted new levies on motor vehicles and excise taxes, with claims these conflict with subsidy policies. The finance minister, however, defended these as necessary for fiscal resilience and revenue expansion. Broader reform dynamics have been influenced by Prime Minister Abiy Ahmed's economic agenda, including the launch of Ethiopia's first stock market since the Haile Selassie era, currency liberalisation, and opening the banking sector to foreign investment. These steps have been deemed essential to securing up to US $27 billion in external funding from IMF, World Bank, UAE, China and others over the next four years. Looking ahead The projection of roughly 8.9 % GDP growth signals confidence that reforms are gaining traction, even as the government prepares to finance a wider budget and service rising debt. The success of the IMF programme's next review, debt restructuring outcomes, and reform implementation will determine whether Ethiopia can sustain its economic momentum and weather domestic and global headwinds.
Al Etihad
14 hours ago
- Al Etihad
Major General (Ret.) Mubarak Al Neyadi honoured with Australian Military Medal
10 June 2025 22:10 ABU DHABI (WAM)The Government of Australia has honoured Staff Major General (Ret.) Mubarak Ali Al Neyadi with the Australian Military Medal, making him the first Emirati to receive this prestigious recognition comes in appreciation of his outstanding role in strengthening military cooperation and his contributions to peacekeeping efforts between the two friendly nations—a step that reflects the deep relations between the UAE and Dean Clark, the Australian Defence Attaché to the UAE, expressed during the award ceremony his country's appreciation for Al Neyadi's distinguished efforts in enhancing military relations between Australia and the United Arab Jadwat, Australian Ambassador to the UAE, stated that awarding the medal to Major General (Ret.) Mubarak Ali Al Neyadi reflects his distinguished role in building trust, consolidating military cooperation, and bringing the perspectives of the two countries closer than ever before. The medal was presented to Al Neyadi during an official ceremony held at the Australian Ambassador's residence in Abu Dhabi, attended by several military and diplomatic officials from both countries. This honour marks an important step toward strengthening the strategic partnership between the two friendly nations, including in the fields of defence cooperation, joint military training, and exchange of expertise.
