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Sharjah 24
18-07-2025
- Business
- Sharjah 24
First meeting of Türkiye-UAE high level strategic council
The Meeting of the High-Level Strategic Council reflected the determination of both countries to further advance the bilateral ties and close cooperation across a broad range of shared objectives between the Republic of Türkiye and the United Arab Emirates. The discussions covered numerous areas of cooperation that gained significant momentum in recent years, such as economy, trade, defence, innovation, cybersecurity, industry, technology, education, culture, energy, including renewable energy, environment, transportation, infrastructure, agriculture and tourism. Leveraging the Comprehensive and Economic Partnership Agreement, and drawing on bilateral economic, trade and investment mechanisms such as the Joint Economic Commission and Joint Economic and Trade Committee, the two Leaders discussed avenues to enhance mutual investments and trade, including exploring the potential for complementary and resilient trade routes, as well as areas of cooperation to support sustainable economic growth and facilitate regional and international trade. The two Leaders also exchanged views on enhancing cooperation between the public and private sectors in both countries with a view to fostering bilateral partnerships as well as collaboration opportunities in third countries. The two Leaders reaffirmed their commitment to enhancing cooperation in the energy sector, recognising the critical role of sustainable, secure and diversified energy resources in driving economic growth and climate resilience. They emphasised their shared ambition to explore practical opportunities to advance energy transition in line with national priorities. In this context, they welcomed the global goal, as reflected in Paragraph 28 of the Global Stocktake outcome adopted at COP28, to double the global rate of energy efficiency improvement and triple renewable energy capacity by 2030 and expressed their intention to contribute to its achievement through national and bilateral actions. They expressed their common will to enhance cooperation between the two countries based on goodwill and friendship, particularly in renewable energy and hydrocarbons, including joint projects to be realised on the basis of mutual benefit. The two leaders reaffirmed the significance of the 2026 United Nations Water Conference, co-hosted by the United Arab Emirates and the Republic of Senegal, to be held in the UAE in December 2026, focused on accelerating the implementation of Sustainable Development Goal 6, ensuring the availability and sustainable management of water and sanitation for all. They also commended the Mohamed bin Zayed Water Initiative as a significant contribution to advancing technological innovation tackling water scarcity. The two Leaders also emphasised the significance of maintaining the existing momentum in bilateral relations and focused on emerging and advanced technologies as a promising field of cooperation. While highlighting the key role of their young, dynamic and well-educated populations in fostering innovation, competitiveness and sustainable economic growth, they reiterated their will to collaborate in cutting-edge digital technologies. His Excellency President Recep Tayyip Erdoğan and His Highness President Sheikh Mohamed bin Zayed Al Nahyan also underscored the importance of cooperation in cultural and social fields and agreed to promote exchanges that will contribute to the strong bonds of brotherhood between the Turkish and Emirati peoples. The two sides reaffirmed their resolve to enhance defence and security cooperation by capacity-building, exchanging expertise and sharing know-how. This landmark visit provided an opportunity to address bilateral and regional developments. Reflecting their countries' roles in advancing regional security, stability and prosperity, the two sides emphasised their shared commitment to work together to promote dialogue and the principles of international law to achieve a peaceful, stable, secure and prosperous environment in the region. His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, expressed his profound appreciation to His Excellency Recep Tayyip Erdoğan, President of the Republic of Türkiye for the warm welcome and generous hospitality extended to His Highness and the delegation of the United Arab Emirates during their stay in Türkiye. The two leaders witnessed the signing of seven bilateral agreements and memoranda of understanding. The two leaders agreed to hold the next meeting of the High-Level Strategic Council in Abu Dhabi in 2026, on a date to be determined through diplomatic channels. This Joint Communique was adopted on 16 July 2025.
Business Times
14-07-2025
- Business
- Business Times
UK agrees deal with Vietnam to remove pharmaceutical trade barriers
[LONDON] Britain said it would strike an agreement with Vietnam to make it easier for pharmaceutical firms to sell UK-made medicines in the South-east Asian nation, under a new trade strategy that emphasises quick, industry-specific deals. Britain launched the new strategy last month, promising a nimbler approach compared to the emphasis it placed on full-fledged free trade agreements following its departure from the European Union. Vietnam will hasten the registration of new medicines and vaccines, while recognising approvals from more regulators, including Britain's Medicines and Healthcare products Regulatory Agency, the British government said in a statement. The deal is expected to be confirmed later on Monday (Jul 14). 'The removal of pharmaceutical barriers with one of our closest trading partners in Asia is a boost for the UK pharmaceutical industry and proof that our Industrial and Trade Strategies are already delivering,' British trade minister Douglas Alexander said. The deal could be worth £250 million (S$432 million) to the British pharmaceutical sector over the next five years, the government added. The UK-Vietnamese Joint Economic and Trade Committee will meet in London on Monday and also discuss financial services and renewable energy. Britain has taken a tougher line on some other sectors, however, with steel imports from Vietnam set to be restricted under a new quota regime. Life sciences, including pharmaceuticals, are a priority sector under Britain's new industrial strategy, which was also launched last month. However, that plan has been delayed by a dispute over drug pricing with the British pharmaceutical sector, which says the government needs to value medicines more fairly and adjust the payments they make back to the health service. REUTERS
