Latest news with #Armenia-Azerbaijan
Business Recorder
4 days ago
- Business
- Business Recorder
‘Hybrid' narrative
EDITORIAL: The stakeholders' narrative gaining traction on airwaves and the print media is that the hybrid system, rooted in ground realities, has made significant strides in all areas of governance — particularly foreign relations and the economy. Pakistan's relations with the West have improved markedly, however, it would be folly to deny the considerable influence of the Trump administration's deviations from previous US-led policies (fully supported by the European Union) that are attributable to the US President's entirely different policy thrust with respect to dealing with Russia and China, continuing to be joined at the hip with the genocidal policies of Israel, and, last but not least, the primacy of tariffs in forging trade deals with countries around the world. In this context President Trump's success in forging a ceasefire between India and Pakistan (subsequent to our indisputable win over the skies) and his lunch invitation to COAS Field Marshal Asim Munir, much to the chagrin of Indians, are certainly foreign policy coups that must be appreciated. Prime Minister Shehbaz Sharif's nomination of President Trump for the coveted peace prize no doubt generated goodwill in the White House though the sentiment in this country was dampened after the Israeli Prime Minister Netanyahu nominated President Trump for the same prize. These improved ties have not been at the cost of our long-term friends — China, Saudi Arabia and the United Arab Emirates — with reports suggesting that China had extended tacit support to our foreign policy initiatives. However, one would hope that the Foreign Office had duly deliberated on the Armenia-Azerbaijan peace deal signed in Washington DC, before announcing support. The Zangezur Corridor, a 43-kilometre road from Azerbaijan to Nakhchivan Autonomous Republic through Armenia, has been given to the US on a 99-year lease. This would link Azerbaijan to Turkey and beyond to Europe — a move opposed by Iran as it has been credibly reported that some Israeli strikes on Iran were from Azeri territory, and by Russia that fears that US control of the corridor may compromise its influence in the south Caucasus with the possibility of becoming a geopolitical and possibly military hotspot like Ukraine. On the economic front, however, the narrative remains under challenge on three counts. First, while the trade deal with the US reduced the threatened 29 percent tariffs on our exports to 19 percent yet the claim that we are at the most advantageous position in our region has little traction as no other country has yet agreed to US tariffs and the two major regional countries — China and India — unlike the European Union continue to resist succumbing to US demands that they have stated are unfair and unjustified. Second, foreign direct investment (FDI) pledged by the US in the trade deal has yet to bear fruit, and additionally two years after the establishment of the Special Investment Facilitation Council (SIFC) FDI has remained elusive with the latest data uploaded on the Finance Division website was USD 1.8 billion in July-June 2025 against USD 1.96 billion in the comparable period the year before. Portfolio investment suffered negative USD 650.9 million outflows in 2025 as opposed to negative USD 383.8 million in the comparable period the year before. In other words, more work is required to make a success of the SIFC, which allows for one forum where all possible impediments to FDI can and are being resolved. In addition, the reliance on rollovers has not yet abated with USD 16 billion in the current year with the foreign exchange reserves lower at USD 14.5 billion. The overarching focus of the economic team leaders is on a massive reduction in inflation and a current account deficit that is under control; however, what is being ignored is the rise in poverty levels in the country, 44.2 percent as per the World Bank, and an untenable unemployment rate of 22 percent, indicators that may well have the seeds of socio-economic unrest that, as per the IMF, could well derail the ongoing programme's reform efforts. The IMF programme conditions accepted by the economic team continue to be under implementation which are neither pro-poor nor pro-growth — as they are severely contractionary and include: (i) monetary policy — the decline in the discount rate from 21 to 11 percent maybe significant but no economist will define 11 percent as not being severely contractionary; and (ii) fiscal policy with the existing indirect taxes raised and/or widened to generate revenue rather than to reform the tax structure by reducing reliance on indirect taxes whose incidence on the poor is greater than on the rich. In-house out of the box policies are required to ease the rising pressure on the pressure cooker of public opinion. Copyright Business Recorder, 2025
Gulf Today
11-08-2025
- Business
- Gulf Today
UAE hails Azerbaijan for Armenia peace deal
UAE President His Highness Sheikh Mohamed Bin Zayed Al Nahyan congratulated Ilham Aliyev, President of the Republic of Azerbaijan, on the recent signing of the historic peace agreement between Azerbaijan and Armenia. During a phone call, Sheikh Mohamed expressed his sincere hope for the agreement to usher in a new phase of cooperation between the two countries and enhance peace and stability in the Caucasus region for the benefit of all its peoples. Sheikh Mohamed affirmed that the UAE remains committed to supporting dialogue and diplomacy to foster stability and prosperity for all. For his part, Ilham Aliyev expressed his appreciation to Sheikh Mohamed the President for the UAE's concerted diplomatic efforts to strengthen peace, stability, and security regionally and globally. The two sides also discussed joint efforts to reinforce bilateral ties, particularly in the fields of economy and investment, as well as other areas that serve common interests and contribute to both countries' development-focused aims. Earlier, António Guterres, Secretary-General of the United Nations, has welcomed the agreement reached between Armenia and Azerbaijan, brokered by the United States and signed by Ilham Aliyev and Nikol Pashinyan. The Secretary-General commended the commitment of President Aliyev and Prime Minister Pashinyan to dialogue and confidence-building, and praised the efforts made by US President Donald Trump in facilitating the agreement. The European Union welcomed the US-brokered agreement reached between Armenia and Azerbaijan, describing it as a 'significant breakthrough' towards ending decades of conflict. In an official statement, the EU praised both parties and the US administration for this progress, calling for the swift implementation of the agreed steps, foremost among them the signing and ratification of a peace treaty. The statement, issued by High Representative for Foreign Affairs and Security Policy Kaja Kallas, said the move marks a decisive step towards the full normalisation of relations, based on mutual recognition of sovereignty and territorial integrity. It stressed that implementing the agreement would contribute to achieving lasting peace and shared prosperity in the region. 'The EU fully supports the Armenia-Azerbaijan normalisation process and has been working for years with both parties and our international partners to create the conditions for lasting peace.' WAM
India.com
11-08-2025
- Politics
- India.com
‘Graveyard For Trump's Mercenaries': Iran Reacts Angrily To Armenia-Azerbaijan Peace Deal, Know India's Response
Baku: A historic peace deal between Armenia and Azerbaijan has raised hopes of ending decades of conflict. The agreement, signed in Washington on Friday, aims to bring lasting peace to the troubled region. However, reactions from regional powers have created uncertainty about the deal's future. Russia responded cautiously, while Iran rejected the U.S.-proposed transit corridor. India also shared its views on the agreement. The accord focuses on resolving the long-standing conflict and includes a transit corridor connecting Azerbaijan's Nakhchivan exclave through Armenian territory. Baku has long sought this corridor. The route has been named the Trump Route for International Peace and Prosperity (TRIPP). Under the deal, the United States gains rights to develop this strategic and resource-rich corridor, signalling a decline in Russia's traditional influence in the region. Iran strongly opposed the corridor. According to Tasnim news agency, Akbar Velayati, advisor to Iran's Supreme Leader Ayatollah Ali Khamenei, called the plan a conspiracy that threatens security in the South Caucasus. He described it as an 'impossible idea' and warned it would become a 'graveyard for Trump's mercenaries'. Russia expressed concerns as well. Moscow stated it would analyse the corridor's provisions carefully. The Russian Foreign Ministry's spokeswoman, Maria Zakharova, reminded that Moscow still guards Armenia's borders with Iran. Russia's long-standing trilateral agreements with Armenia and Azerbaijan remain in place, with no party withdrawing so far. Moscow was once Armenia's supporter and still maintains a military base there. But its focus on the Ukraine conflict since 2022 limited its involvement in the recent Armenia-Azerbaijan clashes. This has caused tensions in Russia-Armenia relations and pushed Yerevan closer to the West. India welcomed the peace agreement and called it a significant achievement in dialogue and diplomacy. External Affairs Minister S. Jaishankar spoke with Armenian Foreign Minister Ararat Mirzoyan and congratulated him on the Washington peace summit outcome. He posted on X, 'Good to speak with Armenian Foreign Minister Ararat Mirzoyan. Congratulated him on the Armenia-Azerbaijan peace agreement in Washington DC. This is an important step for dialogue and diplomacy, which India supports.'
Euronews
10-08-2025
- Business
- Euronews
World reacts to peace agreement between Armenia and Azerbaijan
Armenia and Azerbaijan's neighbouring countries and international institutions have reacted to the new US-brokered peace deal between Baku and Yerevan signed on Friday - overwhelmingly with enthusiasm. However, the deal, which aims to end decades of conflict, includes a corridor planned in the Caucasus which Iran has said it will block. Iran's foreign ministry cited concerns over the potential negative consequences of any foreign intervention near its borders. Russia, Georgia's opposition, and Georgian Prime Minister Irakli Kobakhidze have all welcomed the deal, with Kobakhidze describing it as the beginning of a new era of stability and economic development. The EU and the UN have also hailed the deal as beneficial for achieving lasting peace. The EU's High Representative for Foreign Affairs posted on social media. including a link to the official statement. In it, the recent path towards this historic agreement is briefly summarized: "Following the finalisation of bilateral Armenia-Azerbaijan negotiations on the text of the peace agreement last March, this represents an important and decisive next step towards full-fledged normalisation of relations between Armenia and Azerbaijan, based on mutual recognition of each other's sovereignty, territorial integrity and inviolability of borders in line with the 1991 Alma-Ata Declaration." The leaders of Armenia and Azerbaijan, Nikol Pashinyan and Ilham Aliyev, signed the agreement on Friday in the presence of US President Donald Trump in Washington, after almost four decades of a bloody conflict, centred around the disputed region of Karabakh. In September 2023, Azerbaijan had reclaimed full control of the region after a successful military campaign.
Herald Malaysia
10-08-2025
- Politics
- Herald Malaysia
Armenia and Azerbaijan sign 'milestone' peace deal
Armenia and Azerbaijan have signed a peace deal at the White House that aims to end decades of armed conflict that killed tens of thousands, and led to the expulsion of more than 100,000 Armenians from the disputed territory of Karabakh. Aug 10, 2025 US president hosts leaders of Armenia and Azerbaijan for peace summit (ANSA) By Stefan J. BosFor nearly four decades, Armenia and Azerbaijan fought for control of the Karabakh region, known internationally as Nagorno-Karabakh. The two nations battled for control of the region, with multiple violent clashes that left tens of thousands of people dead. Azerbaijan reclaimed all of the territory in 2023 in an attack that forced more than 100,000 Armenians, who comprised about 99 percent of the population, to flee. 'A miracle' The late Pope Francis constantly advocated for a peaceful solution to the conflict. Yesterday, President Trump brought the sides together while speaking of a new beginning. Trump said: 'It's a long time, 35 years. They fought and now they're friends, and they're gonna be friends for a long time. The countries of Armenia and Azerbaijan are committing to stop all fighting forever, open up commerce, travel, and diplomatic relations, and respect each other's sovereignty and territorial integrity.' The two countries in the South Caucasus signed agreements with each other and the U.S. that will reopen key transportation routes. Azerbaijan's President Ilham Aliyev said he has agreed with Armenia to nominate Trump for the Nobel Peace Prize, calling the deal a 'miracle'. 'Significant milestone' Armenian Prime Minister Nikol Pashinyan spoke of a historic moment in the relationship between the two countries. 'Today, we have reached a significant milestone in Armenia-Azerbaijan relations by laying a foundation to write a better story than the one we had in the past. This is a success for our countries and for our region, and a success for the world because a more peaceful region means a safer world. This is peace through strength,' the Armenian prime minister stressed. Negotiations will now begin over who will develop the new trade routes, including a rail line, oil and gas pipelines, and fiber optic lines. Officials say at least nine developers have already expressed interest in turning what was once a bloodstained region into an arena of prosperity and peace.--Vatican News
