Latest news with #bilateral trade
South China Morning Post
3 days ago
- Business
- South China Morning Post
China and the US wanted Sweden to host their next round of trade talks – why?
Chinese and American negotiators will gather in Stockholm for a much-anticipated third round of trade talks on Monday, putting the Swedish capital in the spotlight and prompting questions as to why the Scandinavian country was the venue of choice for the world's two biggest economies. It began at a meeting of finance chiefs from the Group of 20 countries in South Africa earlier this month, where Sweden had been invited for the first time. Both China and the US approached the delegation from Stockholm about holding the talks in the capital, said Swedish Finance Minister Elisabeth Svantesson in a July 22 social media post. 'That the world's largest economies turn to us shows that Sweden enjoys great international trust – and that we play an important role in fostering dialogue and cooperation.' Hosting US-China trade negotiations in third countries is a marked change from the dialogues that put a temporary freeze on the bilateral trade war during the first term of US President Donald Trump. Those talks were principally held in Washington, with then-Vice-Premier Liu He making regular visits to the White House. Now, neutral territory has been selected in Europe – Geneva in May, London in June and Stockholm for the coming negotiations – suggesting a more level playing field between the two economies, according to Niklas Swanstrom, director of the Institute for Security and Development Policy in Stockholm.
The National
5 days ago
- Business
- The National
Pakistan and US finalising trade deal, foreign minister says
Islamabad will soon finalise a trade deal with Washington, Pakistan's Foreign Minister Ishaq Dar said on Friday. Pakistan is seeking reprieve from the 29 per cent 'reciprocal' tariffs initially imposed by the Trump administration. 'We are very close to finalising a deal with the US,' Mr Dar, who also serves as Deputy Prime Minister, said at an Atlantic Council event, noting that an agreement was expected within days. 'Our teams have been here in Washington discussing, having virtual meetings, and a committee has been tasked by the Prime Minister to fine tune [a deal]". Mr Dar earlier met Secretary of State Marco Rubio at the State Department. 'The Secretary underscored the importance of expanding mutually beneficial bilateral trade and exploring prospects for enhancing collaboration in the critical minerals and mining sectors,' the State Department said in a statement. Relations between Islamabad and Washington have been showing signs of improvement in recent months, with President Donald Trump inviting Pakistan's army chief Asim Munir for rare talks at the White House. Mr Dar's visit is a sign of Pakistan's growing influence in the multilateral arena as well as in its relations with the US, the foreign office said in a statement on July 19.
Arab News
6 days ago
- Business
- Arab News
Pakistan-UAE trade hit $10.1 billion in FY24-25 amid deepening cooperation
ISLAMABAD: Pakistan and the United Arab Emirates strengthened economic ties this year, with bilateral trade increasing by 20.24 percent to $10.1 billion in fiscal 2024–25, according to State Bank of Pakistan data cited by Radio Pakistan on Thursday. The state broadcaster report attributed the gains to the efforts of the Special Investment Facilitation Council (SIFC), a civil-military body set up in 2023 to fast‑track Gulf and other foreign investments in Pakistan's key sectors. Islamabad aims to leverage these ties to reduce its import bill, attract capital, and create jobs. The renewed focus on FDI comes amid Pakistan's efforts to diversify exports and stabilize its economy under an IMF-supported reform program. 'There has been significant progress in Pakistan‑UAE cooperation due to effective policies of Special Investment Facilitation Council (SIFC),' the state broadcaster reported, attributing the statement to the Interior Ministry. The growth follows the 12th session of the Pakistan‑UAE Joint Ministerial Commission, where officials from both countries discussed collaborations in trade, investment, food security, aviation, IT and energy, Radio Pakistan added. Bilateral trade reached approximately $10.9 billion in fiscal 2023–24, including $8.41 billion in goods and $2.56 billion in services. Exports from Pakistan to the UAE were around $2.1 billion in FY25, compared to $8 billion in imports. The UAE is also a major source of remittances. In 2024, money sent home by the Pakistani diaspora was $6.7 billion, which is projected to exceed $7 billion in 2025.
Zawya
6 days ago
- Business
- Zawya
HKTDC to create boundless business opportunities with four major trade fairs in October 2025
Hong Kong and the United Arab Emirates (UAE) have enjoyed robust bilateral trade relations on a range of products and services over the years. Adding to the Hong Kong's business advantages, Hong Kong Trade Development Council (HKTDC) gathers the latest market intelligence and form partnerships to develop business for corporations. Mr Daniel Lam, Regional Director, Middle East & Africa, HKTDC announced here today that four international trade fairs will be held this autumn in Hong Kong, which will offer ideal platforms for traders and suppliers from the UAE to expand their businesses into new markets. These fairs are: Hong Kong Electronics Fair (Autumn Edition) (13-16 October 2025) electronicAsia (13-16 October 2025) Hong Kong International Lighting Fair (Autumn Edition) (27-30 October 2025) Hong Kong International Outdoor and Tech Light Expo 2025 (28-31 October 2025) The UAE is Hong Kong's 11 th largest trading partner. Until November 2024, the total trade value between the two places reached over USD 14.8 billion. In which, the UAE was Hong Kong's 6th major export market with a total export value of over USD 11.2 billion and 17th largest import source with an import value of over USD 3.5 billion. Hong Kong Tech Pavilions to Present Innovations at GITEX Global 2025 and Expand North Star 2025 The Hong Kong Trade Development Council (HKTDC), in collaboration with the Hong Kong Science and Technology Parks Corporation (HKSTP), is proud to present the Hong Kong Tech Pavilions at two major events in Dubai: GITEX Global 2025 (October 13–17) and Expand North Star 2025 (October 12–15). Featuring over 20 innovative Hong Kong tech companies, the pavilions will showcase the city's growing prowess in innovation and technology, connect Hong Kong ventures with global investors and foster strategic partnerships in the Middle East. Portfolio of the Autumn Tech Fairs Electronics Fair (Autumn Edition): electronicAsia: 13 – 16 October2025 Hong Kong Convention and Exhibition Centre 6 – 23 October 2025 Click2Match (Online) The Hong Kong Trade Development Council (HKTDC) will host two prominent exhibitions in Hong Kong from 13-16 October — Electronics Fair (Autumn Edition) (EFAE) and electronicAsia (eAsia), which is co-organised with MMI Asia Pte Ltd. Both events will take place from 13 to 16 October 2025, at the Hong Kong Convention and Exhibition Centre, showcasing the latest smart products, electronic components, and innovative solutions. In 2024, the two fairs brought together some 3,200 exhibitors from 19 countries and regions. Entering its 45th edition, EFAE continues to connect international exhibitors with buyers worldwide, showcasing groundbreaking products and solutions aligned with evolving tech trends. The 2025 fair will focus on three areas: AI and robotics: A diverse range of cutting-edge robots from leading brands including Ti5robot, PADBOT, and many others will be featured, highlighting their transformative potential across industries. A dedicated event space 'RoboPark' will also be set up at the fairground to demonstrate different use-cases of robots, offering insights into how robotics and AI are transforming everyday life and business operations through innovative real-world applications. Digital Entertainment: Products and solutions for entertainment, including immersive digital experiences, travel gadgets and outdoor entertainment items. Silver Economy: Fitness and health technology products specifically designed for the elderly. Various zones will be set up facilitating buyers in sourcing products. The highlighted zones include: Hall of Fame: A collection of electronic products from well-known brands around the world. A new 'RISE Avenue ' will be set up to showcase up-and-coming brands in Robotics, Gaming Accessories & Entertainment. Adventure Hub —an exciting new area full of fun and discovery. One highlight is the Immersive Experience Zone, where visitors can enjoy experience like VR sports games and metaverse journeys. Tech Hall: Showcasing IoT solutions and products that support smart living/lifestyle/city. Events such as Tech Trend Symposium will take place, where industry leaders will converge to explore the trends shaping tomorrow's world. The Startup Zone will showcase promising new startups and emerging ideas. A curated series of start-up events will be held to foster connection, collaboration, and growth. eAsia, on the other hand, will cover various electronic components, parts, and related solutions. During the two exhibitions, forums, presentations, and other events will be held, inviting experts share insights and provide valuable networking opportunities for industry professionals. Additionally, start-ups will have excellent platforms to promote innovative ideas, seek support from investors and gain advice from experts on business development. In 2024, the two fairs attracted over 60,000 industry buyers from 136 countries and regions. HKTDC Hong Kong International Lighting Fair (Autumn Edition) 27 – 30 October 2025 HKTDC Hong Kong International Outdoor and Tech Light Expo 28 – 31 October 2025 The 27th Hong Kong International Lighting Fair (Autumn Edition) will be staged from 27 to 30 October 2025 at the Hong Kong Convention and Exhibition Centre. The Hong Kong International Outdoor and Tech Light Expo will also see its ten th edition from 28 to 31 October 2025 at the AsiaWorld-Expo. Under the theme 'Illuminated Design For a Smarter Future', the twin lighting shows will gather more than 3,000 exhibitors, forming a world-renowned lighting marketplace with enormous business opportunities. The Hall of Connected Lighting at the Lighting Fair (Autumn Edition) will continue to be the spotlight of the show, showcasing pioneering designs, innovative products, and smart and IoT-enabled solutions from renowned international companies and brands. The famed Hall of Aurora will bring top-notch manufacturing brands to display an array of lighting accessories and products under one roof. The Commercial Lighting zone will feature high-quality reliable and versatile lighting products that suit applications like offices, retail stores, restaurants, hotels, hospitals, schools, and more. The Residential Lighting zone will gather functional and decorative household lighting products. The popular LED Lighting zone will display a wide array of energy-efficient lighting, whereas the LED Essentials zone will bring a comprehensive range of lighting accessories and parts to the fair. The concurrent Outdoor and Tech Light Expo will be held from 28-31 October and serves as a comprehensive one-stop sourcing platform, showcasing a diverse range of outdoor commercial and industrial lighting solutions in shaping a smart city. The Expo introduces a Smart Pole and Solution zone, showcasing innovative solutions to optimise energy efficiency, while enhancing the quality of life for urban residents. The Horticultural Lighting zone will feature an array of new products, including cutting-edge plant lighting technology and a selection of lighting fixtures ideal for outdoor parks and domestic gardens. The Outdoor and Public Lighting zone continues to highlight lamps designed for outdoor public spaces and advertising purposes. The Technical & Professional Lighting zone goes beyond offering various lighting fixtures tailored for professional settings such as warehouses and production facilities. During both fairs, a diverse fair programme of networking receptions, seminars, buyer forums and exhibitor forums will be held for industry players to expand their professional networks and learn first-hand about market developments. Innovative Lighting Design Forum and Connected Lighting Forum will return at the Lighting Fair (Autumn Edition) while a seminar related to circular economy in lighting industry will be organised at the Outdoor & Tech Light Expo. The fairs will be held in EXHIBITION+ hybrid model, complemented by the "Click2Match", an online smart business matching platform that will operate from 20 October to 7 November, providing a convenient and efficient platform for traders to connect. In addition, the "Scan2Match" function also enables offline-to-online connections. By using the HKTDC Marketplace App, buyers can scan the dedicated QR codes of exhibitors to bookmark their favorite exhibitors, browse product information, view e-floor plans, and chat with exhibitors even after the fair to continue the sourcing journey.
The Guardian
7 days ago
- Business
- The Guardian
Old Trafford chaos as Lancashire try to woo India but forget local fans
'Lancashire Cricket is playing its role in supporting bilateral trade talks between the UK and Indian governments.' What does this mean? George Balderson mediating discussions over whisky tariffs? Luke Wells flanking Keir Starmer during his handshake photo op with Narendra Modi? The line appears on the club's website, highlighting an event at Old Trafford in March to welcome a new Indian consulate in Manchester. It's undoubtedly odd but also nothing new. The push to develop Indian ties has been part of Lancashire's story for a while now, the journey beginning at India and Pakistan's clash in the city at the 2019 World Cup. The story goes that their chair at the time, the late David Hodgkiss, observed the passion in the ground and told the chief executive, Daniel Gidney, that Lancashire needed to look east. 'My aim is that, one day, everyone in India will see Lancashire as their second favourite team,' Gidney told ESPNcricinfo in 2020. If that sounds a bit big-hearted, then there is the practical element, too. 'Rooms in our hotel were selling for £3,500,' said Gidney, referring to the Hilton that is part of the ground. So it leads to all of this: Lancashire having its own channel on JioTV, an Indian streaming service; pre-season tours of the country; hosting a networking event in Bengaluru to promote tourism in Manchester; expressing the desire to have an Indian Premier League partner for the Old Trafford-based Hundred team. RPSG, which owns Lucknow Super Giants, was the winning bidder, acquiring a 70% stake in Manchester Originals. This feels like a big week for the county, who do not host a Test next summer and won't receive the substantial injection of a men's Ashes match in two years' time. A contest involving India is the one to capitalise on and another substantial advertisement for those watching abroad. It comes two weeks on from the first women's Twenty20 international held at Old Trafford in 13 years, India beating England by six wickets. Lancashire admitted to disappointing ticket sales for the Test visit of Sri Lanka last year, and rain meant an abandonment of an England-Australia men's T20 in September. Their opportunity to host India four years ago was ruined by a Covid outbreak and a controversial last-minute cancellation, though the England and Wales Cricket Board stepped in to cover ticket refunds. There might have been a brief moment of relief for the club's hierarchy when Chris Woakes sent the ball down to Yashasvi Jaiswal on Wednesday morning. Not that everyone got to see it, as queues outside the ground derailed the arrival of supporters. Lancashire released a statement that tried to shift some of the blame, before admitting the need to change arrangements for the remainder of the Test. 'We are aware that some supporters experienced queues getting into Emirates Old Trafford this morning, which we apologise for,' the club said. 'We saw nearly 9,000 supporters arrive at the ground very late despite encouraging early arrival, with all bags subject to searches on entry. 'The club will be looking at increasing the number of gates for the rest of the Test match. We strongly encourage ticket buyers to only bring bags if required, and if doing so to arrive as early as possible. Gates will be open at 9am for the rest of the game.' Build your brand overseas, but those at home deserve more love, too. Sign up to The Spin Subscribe to our cricket newsletter for our writers' thoughts on the biggest stories and a review of the week's action after newsletter promotion Lancashire supporters may well agree. They do have plenty of things to celebrate this season – an upcoming men's Blast quarter-final, the women's T20 Cup victory, and the enduring presence of Jimmy Anderson – but there has largely been misery in the County Championship. Relegation last season was followed by a dire start this year, with Dale Benkenstein departing as head coach after seven winless games and Keaton Jennings stepping down as red-ball captain. Those who did beat the morning queues might have expected a bit of fire between the two teams: eyeballs, finger-wagging, stump-mic bleeps, the whole lot. After the tetchiness of the previous Test, Harry Brook had talked about England shedding their nice-guy image; Shubman Gill had continued to take umbrage with the hosts' time-wasting. But the morning lacked caffeine and any sunshine to boil tempers. Jaiswal and KL Rahul were watchful, Chris Woakes yearned for an outside edge to carry to the cordon, Jofra Archer stayed economical. Hostility was not the word to use. Maybe they were just playing their roles in supporting bilateral trade talks between the UK and Indian governments.
