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India Gazette
4 days ago
- Business
- India Gazette
India-Denmark exchange views on bilateral maritime collaboration under Green Strategic Partnership
Copenhagen [Denmark], June 6 (ANI): Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, met the Danish Minister of Industry, Business and Financial Affairs Morten Bodskov during his visit to Copenhagen, Denmark on June 5-6, 2025. The two ministers exchanged views on bilateral maritime collaboration under the auspices of the Green Strategic Partnership and the MoU on Maritime Affairs. According to a joint statement, the two ministers reaffirmed the Green Strategic Partnership, as mutually agreed upon by Prime Minister Narendra Modi and his Denmark counterpart Mette Frederiksen. The Ministers highlighted the importance of the bilateral Memorandum of Understanding on maritime affairs signed in 2024, which encompasses the establishment of Centre of Excellence in Green Shipping. The Ministers emphasised that the newly established Centre is intended to improve the quality and efficiency of maritime activities while promoting the green transition of the maritime sector in India. The ministers highlighted alignment with targets set out in the Government of India's Amrit Kaal Vision 2047, including India's ambitions to become a green shipping hub for the international maritime sector. Recalling that the establishment of green corridors has further been defined as a priority by the Government of India, the ministers agreed that the Indo-Danish CoE will conduct a pre-feasibility study to contribute to their development. The study will serve as a preliminary assessment of the main components of possible green corridors in India and outline the most promising ones. They agreed that the study will be carried out by the Maersk Mc-Kinney Moller Centre for Zero Carbon Shipping, applying its methodological blue print, and in close collaboration with the Ministry of Ports, Shipping and Waterways, other relevant Indian ministries. (ANI)
Times of Oman
4 days ago
- Business
- Times of Oman
India, Denmark join hands to set up Centre of Excellence in Green Shipping
Copenhagen: Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal met Denmark's Minister of Industry, Business and Financial Affairs Morten Bodskov in a bilateral meeting here on Friday. The meeting resulted in the establishment of the Centre of Excellence in Green Shipping, to be established in India. Both leaders reaffirmed the Green Strategic Partnership and exchanged views on bilateral maritime collaboration. An MoU was signed between the two countries. It is intended to improve the quality and efficiency of maritime activities while promoting the green transition of the maritime sector in India. The ministers underscored this as a new milestone in India-Denmark maritime collaboration with the establishment of a Centre of Excellence in Green Shipping, as outlined in the bilateral Memorandum of Understanding (MoU) on maritime affairs signed in 2024. Union Minister, Sarbananda Sonowal said, "Under the visionary leadership of Honourable Prime Minister Shri Narendra Modi ji, India is now the 4th largest economy and undertaking several transformative initiatives under our Maritime Amrit Kaal Vision 2047. These include efforts in port infrastructure, green shipping, shipbuilding, and digitalisation." "We seek Denmark's participation and investments in these transformative initiatives, where your expertise and leadership in sustainable maritime practices can make a significant impact. We are keen to develop both domestic and international green shipping corridors with Denmark. Identifying suitable routes, developing supportive policy, and building infrastructure will be key," Sonowal added. The two ministers reaffirmed the Green Strategic Partnership, as mutually agreed upon by Prime Minister Narendra Modi Denmark counterpart, Mette Frederiksen. The Ministers highlighted the importance of the bilateral Memorandum of Understanding on maritime affairs signed in 2024, which encompasses establishing the Centre of Excellence (CoE) in Green Shipping. The ministers highlighted alignment with targets set out in the Government of India's Amrit Kaal Vision 2047, including India's ambitions to become a green shipping hub for the international maritime sector. A Letter of Intent (LOI) was signed between the National Maritime Heritage Complex (NMHC), Lothal, and the Maritime Museum of Denmark, Elsinore, to increase collaboration in the preservation and valorisation of cultural heritage related to maritime heritage. The LOI established a framework for cooperation to study, exchange, or showcase common maritime heritage, share technical know-how, and conduct joint research on common maritime heritage. Adding further, Sarbananda Sonowal said, "We appreciate Denmark's engagement through the Joint Working Group on Shipping and the India-Nordic Summit. The Joint Action Plan on Green Strategic Partnership provides a strong framework to drive all this forward. Our maritime cooperation is built on mutual trust, shared values, and a common vision for a sustainable and future-ready maritime sector. Our joint efforts will also contribute meaningfully to global maritime sustainability and innovation." Both sides discussed possible ways and means to deepen bilateral maritime relations spanning green shipping, decarbonisation, maritime training and education, green fuel and technology collaboration, and ship recycling. India has proposed that the National Centre of Excellence for Green Port and Shipping (NCoEGPS) and the Danish Maritime Authority (DMA) begin joint work on certifications and launch collaborative research focused on energy efficiency technologies. It also proposed that the Indian Ports Association (IPA) coordinate with the Port of Aarhus to develop smart port solutions. These innovative models can later be adapted and scaled across ports in India to enhance operational efficiency and sustainability. "Digital transformation is a shared goal between us. Denmark's use of technologies like blockchain for ship registries and automation in port operations is closely aligned with our Maritime India Vision 2030 and Amrit Kaal Vision 2047," added Sarbananda Sonowal during the meeting. The CoE is intended to improve the quality and efficiency of maritime activities while promoting the green transition of the maritime sector in India. Both parties identified the Maersk McKinney Moller Center for Zero Carbon Shipping (MMMCZCS) and the National Centre of Excellence for Green Port and Shipping (NCoEGPS) as key institutions to formulate a specific project plan for the development of a Green Corridor. Indo-Danish CoE will contribute to the development of green corridors through a pre-feasibility study. The study will serve as a preliminary assessment of the main components of possible green corridors in India and outline the most promising ones.
The Hindu
21-05-2025
- Business
- The Hindu
EAM Jaishankar, Danish Minister Bodskov discuss strengthening India-Denmark ties
External Affairs Minister S. Jaishankar met Danish Minister for Industry, Business and Financial Affairs Morten Bodskov on Wednesday (May 21, 2025), during which they discussed deepening bilateral ties between India and Denmark and exploring new possibilities. Mr. Jaishankar arrived on Tuesday (May 20, 2025) evening in the second leg of his three-nation tour to the Netherlands, Denmark and Germany. "Pleased to meet Minister for Industry, Business and Financial Affairs Morten Bodskov in Copenhagen today," Jaishankar posted on X. Pleased to meet Minister for Industry, Business and Financial Affairs Morten Bodskov in Copenhagen today. Discussed deepening existing areas of cooperation and exploring new possibilities. 🇮🇳 🇩🇰 — Dr. S. Jaishankar (@DrSJaishankar) May 21, 2025 He further said they discussed "deepening existing areas of cooperation and exploring new possibilities". On Tuesday evening, Jaishankar held talks with Danish Prime Minister Mette Frederiksen and thanked Denmark for its solidarity and support in combating terrorism. In a post on X, Mr. Jaishankar thanked Prime Minister Frederiksen for "warmly receiving" him in Copenhagen. During the meeting, Mr. Jaishankar also conveyed personal greetings from Prime Minister Narendra Modi. He appreciated Frederiksen's guidance in advancing India-Denmark partnership and highlighted the shared commitment to addressing global challenges through sustainable solutions.
Free Malaysia Today
14-05-2025
- Business
- Free Malaysia Today
European govts scramble to interpret Trump's new drug pricing order
The Trump administration aimed to reduce the drug price gap, particularly as European prescription drugs cost one-third of US prices. (EPA Images pic) LONDON : European governments are examining whether US President Donald Trump can force them to pay more for prescription medicines, after he issued an executive order to lower US drug prices, roiling the global pharmaceutical industry. On Monday, Trump took aim at governments paying a fraction of what Americans have to shell out for their medicines, and directed the use of trade policy to force other nations to pay more for prescription drugs. The Trump administration wants to reduce the gap between US drug prices and those in other developed countries such as many in Europe, where prescription drugs cost, on average, one-third what they do in the US. Denmark's industry and business minister Morten Bodskov plans to meet with drugmakers based in his country to discuss the order. He did not give details about the meeting. 'The uncertainty (caused) by the US is bad for the world,' he told Reuters. 'Danish pharmaceutical companies are among the best in the world and are of great importance to Denmark. The message from Trump does not change that.' The country of six million has benefited from the expansion of Novo Nordisk and the outsize demand for its diabetes drug Ozempic and for Wegovy, one of the powerful new weight-loss drugs singled out by Trump in his push to lower prices. Novo, Europe's third-largest listed company worth €265 billion (US$295.74 billion), said it looked forward to the meeting. In the US, drug prices are shaped by complex negotiations involving pharmacy benefit managers that act as middlemen between drugmakers and employer clients and health insurers and have been criticised for inflating costs. In Europe, countries generally have public health systems that negotiate directly with manufacturers and keep costs down. The European Commission, the EU executive, will assess the impact of Trump's order on European companies, a spokesperson told reporters on Tuesday. 'We know the pharmaceutical industry faces challenges both in the US and the EU,' the spokesperson said, noting commission president Ursula von der Leyen had met with executives last month to address concerns about the threat of US tariffs on medicines. Trump's effort during his first term – through a more limited executive order focused on certain drugs covered by the government's Medicare programme – was blocked by a court. Trump said if drugmakers do not cut prices they could be hit with tariffs. His administration launched a probe last month into pharmaceutical imports as a potential precursor to placing levies on medicines on national security grounds. 'The US will no longer subsidise the healthcare of foreign countries, which is what we were doing,' Trump said on Monday. 'I'm not knocking the drug companies. I'm really more knocking the countries than the drug companies.' Although Americans pay significantly more for medicines, they have access to a greater number of treatments. Some 55% more cancer drugs were launched in the US than in the UK over the past three decades, according to a 2024 study in the British Medical Journal. An AstraZeneca spokesperson said the company supports fairer global sharing of pharmaceutical costs, but that changes must avoid 'disrupting patient care, undermining US biotech leadership, or stifling innovation.' Confidential prices Seven drug pricing experts and lawyers told Reuters it is unclear how the administration could legally demand confidential contract details between drugmakers and governments. That information would be needed as Trump's order calls for giving drugmakers price targets within a month. Strict cost containment measures and reimbursement policies prevent drugmakers from charging Britain's financially strapped state-funded National Health Service more for new drugs, said Daniel Howdon, a health economist at the University of Leeds. 'Unless there is some sort of overhaul of UK law or policy, Trump's order will not be able to achieve higher prices,' he said. A spokesperson for Germany's health ministry told Reuters it was not possible to predict how the US order may be implemented. Germany has a 'clearly defined framework for price negotiations on medicines between statutory health insurance and the pharmaceutical industry,' the spokesperson said. The call for developed countries to pay more for drugs so the US can pay less comes as worries grow that uncertainty caused by Trump's whiplash trade war will dampen the 27-nation bloc's already-weak economy. Even with the threat of tariffs, governments may be unable and unwilling to spend more on medicines, particularly as populations age and healthcare budgets tighten, UBS analyst Trung Huynh said. The UK government does not publish the prices it pays for NHS drugs, but a source at the UK's department of health and social care said prices for some treatments are about a quarter of those paid by the US. The DHSC did not respond to a request for comment. Still, a source at a European drugmaker told Reuters the Trump administration could still exert pressure to try to force governments to alter their longstanding pricing practices embedded in national health systems. 'I read this as him showing pharma all of the negotiating tools he has at his disposal,' said Anna Kaltenboeck, a health economist at Verdant Research, 'and giving them some credible threat based on his willingness to impose tariffs so far.'
