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Time of India
15-07-2025
- Business
- Time of India
India aiming to emerge as global maritime hub, says Shipping Minister Sarbananda Sonowal
VISAKHAPATNAM: Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal on Monday inaugurated the second Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation ( BIMSTEC ) Ports Conclave here, stressing that India aims to emerge as a global maritime hub . Hosted by Visakhapatnam Port Authority (VPA), the two-day conclave is themed as 'Navigating the Future: Blue Economy, Innovation & Sustainable Partnerships', bringing together ministerial delegations, port authorities, maritime experts, and business leaders from BIMSTEC member countries. "Prime Minister's Vision 2030 and 2047 aims to make India a global maritime leader," said Sonowal, addressing the conclave. He said the BIMSTEC Ports Conclave stands as a springboard to unlock the immense potential of blue economy from the Bay of Bengal region. "Under the dynamic leadership of Prime Minister Narendra Modi , India has a "Neighbourhood First" policy and in this sees BIMSTEC nations as key partners in regional prosperity," said Sonowal. Live Events "We want this platform to enhance collaboration among all member nations for strengthening port led industrialisation, digital integration and skill development which in turn boost cruise tourism, and foster coastal economic zones," he said. According to the minister, BIMSTEC member countries--India, Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka and Thailand--should aim to create a seamless and efficient network of ports that could serve as engines of growth. Through joint feasibility studies, PPP (Public Private Partnership), and skill development of maritime workforce, Sonowal said BIMSTEC can transform the region into a thriving hub of global trade, tourism, and sustainable economic progress. Further, Sonowal said a BIMSTEC Sustainable Maritime Transport Centre is going to be established under the Indian Ocean Centre of Excellence for Sustainable Maritime Transport (IOCE-SMarT) at the Maritime Training Institute in Powai, Mumbai. He inaugurated multiple projects in the port, such as new oil refinery berth-2, fire fighting facilities at OSTT Berth, new port operating system, vessel traffic management system (VTMS) and others. Moreover, he laid the foundation stone for the construction of B-Ramp in the port area, finger jetty and wharf in fishing harbour, two additional breasting dolphins at OSTT and others.
New Indian Express
15-07-2025
- Business
- New Indian Express
Union Minister for Ports Sarbananda Sonowal inaugurates BIMSTEC Conclave in Visakhapatnam
VISAKHAPATNAM: Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal, inaugurated the second Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Ports Conclave in Visakhapatnam on Monday. Delegates from all seven BIMSTEC member countries–Bangladesh, Bhutan, Nepal, Myanmar, Sri Lanka, Thailand, and India–participated in the event. Welcoming the representatives, Visakhapatnam Port Authority Chairman M Angamuthu highlighted the strategic importance of Visakhapatnam in maritime trade and logistics. He called for greater collaboration among BIMSTEC countries in port-led industrialisation, digital infrastructure integration, and maritime skill development. He also underlined the contribution of the Centre of Excellence in Maritime Skill Development (CEMS) in positioning Visakhapatnam as a training hub for the maritime sector. In his address, the Union Minister laid out key components of the Union government's long-term maritime vision, in line with the Prime Minister's Vision 2030 and 2047. BIMSTEC Secretary General Indra Mani Pandey shared the framework of BIMSTEC Vision 2030 and noted that 267 transport connectivity projects are currently in progress under the master plan. He proposed setting up a BIMSTEC Centre of Excellence in Maritime Transport in Visakhapatnam and outlined plans for real-time cargo tracking and sustainable port practices.
Zawya
03-07-2025
- Business
- Zawya
Egypt: Minister of Planning, Economic Development and International Cooperation Meets Executive Secretaries of the United Nations Economic Commission for Africa (UNECA) and the Economic and Social Commission for Western Asia (ESCWA)
Al-Mashat discusses outcomes of the 4th International Conference on Financing for Development (FfD4) and ways to enhance joint cooperation with UN officials. Al-Mashat emphasizes the need for intensified UN efforts to promote debt sustainability and overcome economic challenges in developing and emerging countries. H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, held intensive bilateral meetings with development partners and government officials during the United Nations Financing for Development conference in Spain. The meetings focused on discussing ways to strengthen joint economic relations and reviewing the outputs and outcomes of the Fourth International Conference on Financing for Development. United Nations Economic Commission for Africa (UNECA) The Minister of Planning, Economic Development and International Cooperation met with Ambassador Claver Gatete, Executive Secretary of the United Nations Economic Commission for Africa (UNECA). During the meeting, H.E. Dr. Al-Mashat emphasized the significance of maintaining an open and cooperative dialogue on Debt Sustainability Analysis (DSA), particularly as developing countries strive to achieve the dual goals of financing development and maintaining financial sustainability. She highlighted Egypt's commitment to evidence-based policymaking and expressed appreciation for UNECA's role in promoting regional approaches to debt dialogue and capacity building. H.E. Dr. Al-Mashat affirmed that UNECA plays a pivotal role in fostering regional debt dialogue and providing technical support to member states. By providing knowledge and resources, the commission helps countries improve their financial strategies and develop debt management systems, thereby enhancing their ability to address economic challenges. The two sides discussed ways to develop joint relations. H.E. Dr. Al-Mashat reiterated Egypt's keenness to benefit from the technical expertise and knowledge resources provided by UNECA to refine policies and support inclusive growth. She also highlighted Egypt's commitment to leverage UNECA's support in the field of macro-planning to achieve sustainable development and promote inclusive growth. Economic and Social Commission for Western Asia (ESCWA) In another context, H.E. Dr. Rania Al-Mashat met with Ms. Rola Dashti, Executive Secretary of the UN Economic and Social Commission for Western Asia (ESCWA), to discuss a number of cooperation files. During the meeting, the two parties reviewed potential areas of cooperation and support between the Ministry of Planning, Economic Development and International Cooperation and the United Nations Economic and Social Commission for Western Asia (ESCWA). H.E. Dr. Rania Al-Mashat confirmed the depth of relations between the two sides and the diversity of cooperation files to include a number of vital issues. H.E. Minister Rania Al-Mashat pointed to the tools developed by ESCWA in the areas of financing, costing, budgeting, and improving debt management. She stressed Egypt's interest in and the importance of these tools, especially in light of the recent launch of Egypt's Integrated National Financing Framework (E-INFF). H.E. Dr. Al-Mashat pointed out the role of the Ministry of Planning, Economic Development and International Cooperation and its responsibility for managing public investments. She outlined that the AI-powered budgeting tool developed by ESCWA could contribute to guiding optimal public spending decisions to achieve sustainable development goals and accelerate their implementation, in line with Egypt's commitments, national priorities, and Egypt Vision 2030. H.E. Minister Al-Mashat underscored the importance of cooperation with ESCWA to bridge data gaps, as development gaps are linked to financing gaps, making it essential to monitor these gaps accurately. H.E. Dr. Al-Mashat also noted the Ministry's role in chairing the Ministerial Committee for Entrepreneurship, which includes various relevant entities. She indicated potential avenues for cooperation in this area, especially given ESCWA's endeavors to support small and medium-sized enterprises and boost their capabilities in e-commerce. The two sides also discussed the possibility of ESCWA supporting the Central Agency for Public Mobilization and Statistics (CAPMAS) by providing innovative ideas and mechanisms to enhance preparations for the upcoming population census. Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation - Egypt.
Russia Today
01-07-2025
- Politics
- Russia Today
Putin is ‘sincere' leader
Transitional Malian President Assimi Goita has praised Russian President Vladimir Putin for his honesty and practical approach to international relations, calling him a sincere statesman. Goita made the comments after meeting with Putin during an official visit to Russia last week, as reported by Malian outlet L'Essor on Monday. The Kremlin meeting concluded with the signing of several agreements, including on economic cooperation and peaceful nuclear energy. 'President Vladimir Putin is a pragmatic and sincere man. We have seen [it] through his gestures, all his openness,' Goita said. He expressed appreciation for the warm reception extended to him in Russia and emphasized that Mali's growing partnership with Moscow, especially in the security domain, had yielded concrete results. Without naming France directly, Goita noted that Mali had cut ties with former allies, adding that 'with Russia we [Mali] were able to arm ourselves.' 'Cooperation with Russia is effective. It is without demagogy, without manipulation,' he told reporters. Goita also confirmed that his meeting with Putin touched on the potential for broader collaboration between Russia and the Alliance of Sahel States. He said discussions centered on three key areas: diplomacy, defense, and development. Ties have been growing between Russia and the countries of the Alliance of Sahel States (AES), which includes Mali, Niger, and Burkina Faso. In April, Russian Foreign Minister Sergey Lavrov reaffirmed Moscow's commitment to bolstering the defense capabilities of AES countries. He stated that Russia was prepared 'to actively assist in building the capacity of the joint forces of the Sahel states, enhancing their combat readiness, as well as that of the national armed forces of each of the three countries, and in training military personnel and law enforcement officers.' This was Goita's second visit to Russia. He previously met Putin during the Russia-Africa Summit in St. Petersburg in 2023. As part of this year's trip, the Malian leader also visited the Republic of Tatarstan in central Russia.
Zawya
30-06-2025
- Business
- Zawya
UAE, China launch service centre to boost $400bln Arab trade
UAE and China recently launched Qingdao Overseas Integrated Service Centre at the China-Arab Business Forum held in Qingdao recently – that is aimed at increasing the $400 billion trade between China and the Arab world. A total of 40 important projects were signed during the Forum, with a total value of $5.93 billion, covering industries such as high-end equipment, new energy and new materials, and next-generation information technology, said the organisers. This service centre was established by the SepcoIII Electric Power Construction Co and Hisense Group. Leveraging the two companies' long-standing presence and influence in the UAE and other Middle Eastern countries, the Centre aims to serve as a new bridge for China-Arab economic and trade cooperation and to better support the overseas development of enterprises. Trade between China and Arab countries has a long history, dating back over 2,000 years, with China being an important trading destination for the Arab world since the Islamic caliphate later through the Silk Route that connected China with the Arab World. Saudi Arabia is a key trading partner for China, with a bilateral trade volume of $107.53 billion in 2024, while trade between China and the UAE reached $101.838 billion, a 7.2 percent increase year-on-year, demonstrating resilience in trade despite global economic fluctuations, it stated. China's engagement with Arab states is viewed as a strategic move to diversify partnerships and reduce reliance on any single power, particularly the United States, said experts. Chinese companies are increasingly involved in various sectors in Arab countries, including energy, infrastructure, manufacturing, and new energy. Chinese companies are participating in infrastructure projects like ports and industrial zones, contributing to the development of trade hubs in the region, they stated. The launch of the QOISC comes six months after two-way trade between China and Arab countries saw a substantial increase, exceeding $400 billion in 2024, according to the London-based International Finance magazine. This represents a more than ten-fold increase from $36.7 billion in 2004. More than 15,500 Chinese companies have invested more than $6 billion in the UAE, according to UAE Ministry of Economy. Organised by the Qingdao Municipal People's Government and China India Middle East and North Africa (Chimena) Business Council, the Forum was co-hosted by the Ministry of Commerce of the People's Republic of China and the Shandong Provincial Department of Commerce. Abdulla Albasha Alnoaimi, UAE Commercial Attaché to China and Zeng Zanrong, Secretary of the Qingdao Municipal Party Committee of the Chinese Communist Party, unveiled the QOISC at the Forum. Held under the theme 'Innovation-Driven, Mutually Beneficial: Promoting China-Arab Economic and Trade Cooperation to New Heights,' the China-Arab Business Forum drew 465 multinational companies, including 135 Fortune Global 500 companies and 330 industry-leading enterprises from 43 countries across the globe. Of these, 417 were foreign multinational corporations. Three focused match-making meetings were also held on the sidelines of the China-Arab Business Forum. More than 300 Chinese companies participated in the match-making sessions with companies from Egypt, UAE and Saudi Arabia. Speaking at the event, Mohammed Saqib, Secretary-General of Chimena Business Council, said: "The launch of the service centre is a significant move that will play a significant role in accelerating the $400 billion trade between the two growing economic blocks." "The QOISC combines the strength of the public and private sector to push for greater economic co-operation that will bring not only the businesses, but also the peoples of these regions closer through trade, tourism and cultural cooperation," he noted. Using the UAE as a hub, the QOISC will accelerate the formation of an export-oriented alliance targeting regional markets, remarked Saqib. "It will actively engage in activities such as overseas industrial parks, international exhibitions, and procurement resource matching, linking business opportunities, optimising resources, and fostering coordinated development," he stated. "This will further contribute to deepening trade and investment partnerships and to jointly building the Belt and Road Initiative," he added. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
