Latest news with #PartnershipCouncil
Ammon
03-05-2025
- Business
- Ammon
Jordan, Britain discuss ways to enhance joint economic cooperation
Ammon News - Minister of Industry, Trade, and Supply, Yarub Qudah, discussed with the British Trade Envoy to Jordan, Kuwait, and Palestine, Lord Iain McNicol, ways to enhance joint economic and trade cooperation within the framework of the bilateral partnership agreement signed in to a ministry statement on Saturday, the two sides, in presence of British Ambassador to Jordan, Philip Hall, went over progress in implementing the agreement, in terms of streamlining rules of origin and developing the government structure to monitor its provisions by launching Partnership Council and its technical noted the need to address challenges related to the complexities of the rules of origin and the high costs of compliance and export, compared to the facilitations granted by the United Kingdom to competing countries under the Developing Countries Trading Scheme (DCTS) called for reviewing the current terms of the simplified rules of origin decision to ensure Jordanian products have "preferential" access to British his part, McNicol affirmed his country's "keenness" to expand economic cooperation with Jordan, underlining his country's support for developing the Kingdom's investment environment and enhancing trade exchange through sustainable initiatives, including support for small and medium-sized enterprises and stimulating British investment in Jordan's "vital" productive future action, both sides agreed on the importance of accelerating the pace of work to organize the upcoming Jordanian-British Business statement said the event would serve as a platform to strengthen bilateral partnerships in the two countries' private sectors and explore "new" cooperation opportunities. Petra
India Today
22-04-2025
- Business
- India Today
Why Narendra Modi's 2025 visit to Saudi Arabia is important
Prime Minister Narendra Modi's two-day visit to Saudi Arabia in April 2025 marks a significant moment in India's evolving West Asia policy and bilateral diplomacy. As the first Indian prime minister in over four decades to visit Jeddah, the commercial capital of Saudi Arabia and the gateway to Islam's holiest sites, Modi's visit goes far beyond symbolic gestures. It embodies a recalibration of India's strategic priorities and a deepening of ties with one of its most critical partners in the region. This visit is not just about ceremonial diplomacy—it is a deliberate and high-stakes engagement that carries geopolitical, economic, and security implications at multiple A strategic milestone: From Riyadh to Jeddah Jeddah's choice as the destination for this high-level visit is itself noteworthy. Modi's previous visits to the Kingdom in 2016 and 2019 were to the political capital, Riyadh. By visiting Jeddah—long recognised as the port of entry for Indian pilgrims journeying to Mecca and Medina—Modi is emphasising the historical and cultural layers of India-Saudi Arabia relations. Indira Gandhi was the last Indian Prime Minister to visit Jeddah in 1982. The current visit, therefore, bridges a 43-year diplomatic hiatus and projects an India more attuned to the symbolic geography of the Islamic isn't just historical nostalgia—it is a diplomatic calculation. Jeddah is the Kingdom's commercial engine, located on the Red Sea and central to Saudi Arabia's global trade networks and its Vision 2030 diversification strategy. Modi's presence here signals India's intent to be a long-term economic and strategic Partnership Council: From agreement to actionAt the heart of this visit lies the third meeting of the India-Saudi Strategic Partnership Council (SPC), co-chaired by PM Modi and Crown Prince Mohammed bin Salman (MBS). Established in 2019, the SPC operates on two tracks: political-security-cultural cooperation and economy-investment collaboration. The council has been pivotal in institutionalising the bilateral relationship, turning declarations of friendship into frameworks for actionable current SPC meeting is expected to not only review progress but also chart new directions, especially in areas like green hydrogen, critical mineral supply chains, defence manufacturing, and digital infrastructure. With both countries being among the world's fastest-growing economies and influential members of the G20 and Global South, this partnership is no longer regional—it has global ties: From symbolism to substanceThe most striking evolution in India-Saudi relations has been in defence cooperation. Traditionally confined to goodwill gestures and occasional visits, the defence partnership now features procurement deals, joint exercises, and institutional-level engagements. In 2024, India and Saudi Arabia held their first joint land military exercise, 'Sada Tanseeq,' in Rajasthan, along with a second edition of the naval exercise 'Al Mohed Al Hindi.' More importantly, in February 2024, the two nations signed their first-ever defence contract—a $225 million artillery shell deal with India's state-run Munitions India Limited (MIL), which also included the export of 155mm Advanced Towed Artillery Gun Systems (ATAGS).advertisementThese are not isolated events. They are part of a broader synergy: India's 'Make in India' initiative aligns well with Saudi Arabia's Vision 2030, which aims to localise defence production and reduce reliance on Western suppliers. What's new is not just hardware transfers but a deepening of institutional linkages—exchanges between defence colleges, high-level staff talks, and enhanced training programs. In the context of regional instability, especially in the Red Sea and Persian Gulf, these steps elevate India from being a transactional partner to a reliable strategic and green hydrogen: Fueling the futureEnergy remains a cornerstone of the India-Saudi relationship. But as the global energy landscape undergoes transition, both countries are recalibrating their approach. Traditional hydrocarbon trade continues to thrive, but the future lies in green this visit, a significant Memorandum of Understanding (MoU) on green hydrogen is expected to be signed. Saudi Arabia, with its abundant solar resources, and India, with its expanding technological base and policy push for renewables, are natural partners in clean energy innovation. By moving into green hydrogen collaboration, India and Saudi Arabia are not only securing their own energy futures but also contributing to global climate goals and sustainable development. This cooperation also buffers both economies against the volatility of fossil fuel markets and geopolitical energy Indian diaspora: A human bridgeSaudi Arabia is home to approximately 2.7 million Indians, making it one of the largest overseas Indian communities in the world. These expatriates are not just economic contributors through remittances—they are socio-political stakeholders in bilateral ties. PM Modi's planned visit to a Jeddah-based factory employing Indian workers is more than optics. It reinforces India's commitment to its diaspora and acknowledges their role in Saudi Arabia's there are also pressing humanitarian concerns. More than 25% of all Indian prisoners abroad are in Saudi Arabia. Although several agreements exist on prisoner transfer, no significant repatriations have taken place. Foreign Secretary Vikram Misri has confirmed that this issue will be 'high on the agenda' during Modi's visit. Progress on this front could humanise India's foreign policy and win Modi crucial goodwill back West Asia's complex landscapePM Modi's visit comes at a time when West Asia is in flux. The Israel-Palestine conflict continues to escalate, while maritime insecurity—fueled by Houthi attacks in the Red Sea—threatens global supply chains. India and Saudi Arabia share concerns over regional stability, particularly given their growing economic interdependence and energy leaders are also seen as influential figures in the broader diplomatic arena. Modi and Crown Prince Salman have maintained cordial relations with U.S. President Donald Trump, Russian President Vladimir Putin, and Ukrainian President Volodymyr Zelensky—highlighting their balancing acts in a polarised world. As part of the Global South, their ability to coordinate on multilateral issues—ranging from climate finance to peacebuilding—adds further relevance to this Free Trade Agreement: The larger Gulf agendaThe Modi-MBS talks are also expected to touch on the long-pending India-Gulf Cooperation Council (GCC) Free Trade Agreement (FTA). The GCC bloc—comprising Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, and Oman—represents a strategic economic zone for India. An FTA would reduce trade barriers, enhance market access, and streamline labour mobility—key for a region hosting millions of Indian workers and acting as a vital energy FTA negotiations amid shifting global trade routes, especially after Trump-era tariffs and ongoing disruptions due to conflicts, is vital for India's quest to diversify its economic partners and secure trade corridors through the optics, toward strategic depthPM Modi's visit to Saudi Arabia is not just another diplomatic engagement. It is a geopolitical signal, a strategic consolidation, and a diplomatic recalibration all rolled into one. From defence cooperation and clean energy to diaspora engagement and multilateral coordination, the visit reflects a maturing relationship no longer limited to oil diplomacy or labour both countries navigate global uncertainties and regional complexities, the Modi-MBS partnership offers a model of pragmatic, multifaceted engagement that blends history with forward-thinking strategy. In a decade marked by disruptions—pandemics, wars, economic shocks—such resilient partnerships will define not only regional balances but also the global Watch
