Latest news with #economiccollaboration
Zawya
2 days ago
- Business
- Zawya
Iraq's ambassador to Jordan and Dr. Abu-Ghazaleh discuss means of enhancing economic cooperation
AMMAN – HE Mr. Omar Al-Barzanji, ambassador of the Republic of Iraq to Jordan, has hosted a dinner in honor of HE Dr. Talal Abu-Ghazaleh, founder and chairman of Talal Abu-Ghazaleh Global Digital ( in the presence of a delegation from Fabyab Company. During the gathering, the two parties discussed ways and means of enhancing and strengthening economic collaboration between Iraq and Jordan. As a gesture of appreciation, Ambassador Al-Barzanji presented Dr. Abu-Ghazaleh with a statue of the iconic Lion of Babylon; an ancient symbol of Iraqi heritage located in the city of Babylon and dating back to 500 BC. For his part, Dr. Abu-Ghazaleh commended the investment opportunities available in Iraq, particularly in Ebril, stating that prides itself on having offices in Baghdad and Erbil that offer all its professional services.
Zawya
28-05-2025
- Business
- Zawya
German Consul General tours Al Maya Supermarket in a celebration of trade and taste
Dubai, UAE – In a powerful gesture of cross-border collaboration, H.E. Sybille Pfaff, Consul General of the Federal Republic of Germany to Dubai, visited the iconic flagship store of Al Maya Supermarket in Dubai. This prestigious visit underscored the shared commitment of Germany and the UAE to deepening economic, cultural, and commercial ties through platforms that reach directly into the lives of everyday consumers. Her Excellency was warmly received by Mr. Kamal Vachani, Group Director and Partner at Al Maya Group, who personally led the tour across the store's vibrant international sections. Of particular note were the shelves stocked with premium German products — a symbol of the enduring trade bond between the two nations. Her Excellency was accompanied by Ms Daisy Schmidt, Director Competence Center for Food and Agriculture of German Chamber of Commerce Germany and the United Arab Emirates enjoy a long-standing partnership built on mutual trust and economic synergy. With over USD 130 billion (AED 478 billion) in non-oil trade over the past decade, and Germany accounting for 22% of all Arab-German commerce, the collaboration continues to flourish. In 2021 alone, non-oil trade reached USD 9.5 billion — marking a 10.5% year-on-year increase. 'We are truly honoured to welcome Her Excellency and Ms Daisy Schmidt to Al Maya,' said Mr. Kamal Vachani. 'This visit reflects our shared values of openness, quality, and global connection. At Al Maya, we take great pride in being a cultural and commercial bridge — bringing the best of the world to the region.' With a strong presence across the GCC, Al Maya Group remains a powerhouse in retail, distribution, and import, championing international cooperation through its extensive offerings and inclusive business philosophy.
Malay Mail
27-05-2025
- Business
- Malay Mail
Anwar: Asean-GCC-China summit opens doors for US$25t collaboration
KUALA LUMPUR, May 27 — Prime Minister Datuk Seri Anwar Ibrahim today hailed the inaugural Asean-Gulf Cooperation Council (GCC)-China Summit as a significant platform for fostering collaboration among some of the world's most influential economic blocs. 'Asean, the GCC, and China collectively represent a combined GDP of US$24.87 trillion and a population of approximately 2.15 billion,' Anwar said during his opening remarks before over a dozen heads of state. 'This collective scale offers vast opportunities to synergise our markets, deepen innovation, and promote cross-regional investment.' Among the notable attendees was China's Premier Li Qiang. China has been Asean's largest trading partner since 2009, driving economic growth in the region through its rapid development. Asean economies have benefited significantly from China's demand for raw materials, agricultural goods, and intermediate products, while the superpower has supplied the region with consumer electronics, industrial machinery, and high-tech products. Trade between Asean and China, facilitated by a free trade agreement, has more than doubled since 2010 — from US$235.5 billion to US$507.9 billion in 2019. In the first quarter of 2025 alone, it exceeded RM1 trillion. The summit, a first of its kind, comes against the backdrop of economic turbulence triggered by US President Donald Trump's 'Liberation Day' tariffs. Trump imposed steep import duties on both Asean countries and China, with levies on Chinese imports reaching as high as 145 per cent. Asean leaders met yesterday for its 46th summit, where they signed a declaration pushing for more collaboration. Anwar said the ten-member grouping understood the need to remain united amid growing geopolitical volatility. Today, the Malaysian prime minister said Asean had long demonstrated that regionalism, anchored in consensus, respect, and openness, can succeed. 'We have thrived in our longstanding partnerships with the GCC and China. Today, we have the opportunity to enhance these ties,' he said.
Malay Mail
27-05-2025
- Business
- Malay Mail
Anwar: Asean-GCC-China summit opens doors for US$25 trillion collaboration
KUALA LUMPUR, May 27 — Prime Minister Datuk Seri Anwar Ibrahim today hailed the inaugural Asean-Gulf Cooperation Council (GCC)-China Summit as a significant platform for fostering collaboration among some of the world's most influential economic blocs. 'Asean, the GCC, and China collectively represent a combined GDP of US$24.87 trillion and a population of approximately 2.15 billion,' Anwar said during his opening remarks before over a dozen heads of state. 'This collective scale offers vast opportunities to synergise our markets, deepen innovation, and promote cross-regional investment.' Among the notable attendees was China's Premier Li Qiang. China has been Asean's largest trading partner since 2009, driving economic growth in the region through its rapid development. Asean economies have benefited significantly from China's demand for raw materials, agricultural goods, and intermediate products, while the superpower has supplied the region with consumer electronics, industrial machinery, and high-tech products. Trade between Asean and China, facilitated by a free trade agreement, has more than doubled since 2010 — from US$235.5 billion to US$507.9 billion in 2019. In the first quarter of 2025 alone, it exceeded RM1 trillion. The summit, a first of its kind, comes against the backdrop of potential economic turbulence triggered by US President Donald Trump's 'Liberation Day' tariffs, which imposed steep import duties on both Asean countries and China, with levies on Chinese imports reaching as high as 145 per cent. MORE TO COME
Zawya
25-05-2025
- Business
- Zawya
Al Baraka Bank Egypt and Al Baraka Bank South Africa strengthen economic partnership through joint foreign trade cooperation program
Cairo – Al Baraka Bank Egypt has announced the launch of a joint cooperation program in the field of foreign trade with Al Baraka Bank South Africa. The initiative aims to enhance economic and financial collaboration between the two branches through Al Baraka's digital trade platform, as part of the broader Al Baraka Banking Group's strategy to create a supportive environment for investment and trade exchange across regional markets. This initiative comes as part of the bank's ongoing efforts to offer real opportunities for exporters and importers, while enhancing trade finance mechanisms to better serve clients and support stronger economic ties among African nations. The webinar witnessed the participation of His Excellency Ahmed Ali Sherif, Egyptian Ambassador to South Africa, in addition to senior representatives from both Al Baraka Bank Egypt and Al Baraka Bank South Africa, including Mr. Mostafa Alaroussi, Deputy CEO of Corporate and Investment Banking from Al Baraka Bank Egypt; Mr. Amr Kandil, General Manager of International Banking from Al Baraka Bank Egypt; and Mr. Shabbir Chohan, CEO of Al Baraka Bank South Africa. The event also welcomed delegates from both sides, as well as prominent attendees, including ministers plenipotentiary, commercial attachés, and professionals from the economic and financial sectors. In his remarks, Mr. Mostafa Alaroussi, Deputy CEO of Corporate and Investment Banking at Al Baraka Bank Egypt, stated: "This collaboration comes at a time when African markets are witnessing accelerating growth, highlighting the importance of building strong banking partnerships that support Al Baraka Bank clients and enable them to seize opportunities across our network on the continent. Our partnership with Al Baraka Bank South Africa reflects our commitment to expanding our clients' horizons and opening new avenues for investment and trade within Africa's promising markets." He further added: "We are working to empower our clients to take full advantage of the digital trade opportunities provided by our shared platform, which accelerates transactions and offers greater flexibility in financial operations. We also believe that productive collaboration between Egypt and South Africa in this regard will enhance economic integration and contribute to the achievement of sustainable development goals across the region." The webinar concluded by affirming that this event marks a continuation of Al Baraka's successful collaboration journey among its regional units. It follows previous fruitful initiatives with branches in Turkey, Pakistan, Jordan, and Algeria. This latest step reflects the bank's ongoing commitment to expanding regional cooperation and advancing its digital platforms, thereby promoting trade integration and supporting shared economic growth. It also reaffirms Al Baraka's ambitious strategy to connect diverse markets and deliver added value to its clients and the communities it serves.
