Latest news with #economicRelations
Free Malaysia Today
10-07-2025
- Business
- Free Malaysia Today
China says EU ‘mentality', not trade, needs to be rebalanced
The trade deficit between China and the EU was a yawning US$357 billion in 2024. (East Asia Forum pic) BEIJING : Beijing said today that the EU needed to rebalance its 'mentality', not its economic ties with China, ahead of a summit between the two this month. 'It is hoped that the European side realises that what needs to be rebalanced right now is Europe's mentality, not China-EU economic and trade relations,' foreign ministry spokeswoman Mao Ning said. European Commission president Ursula von der Leyen said yesterday the EU would seek to rebalance economic ties with China, demanding it ease market access for European firms and loosen export controls on rare earths. Addressing the European Parliament in Strasbourg, von der Leyen said Beijing was running the largest trade surplus 'in the history of mankind' exporting vast amounts to the EU while making it harder for European companies to do business in China. The trade deficit between China and the EU was a yawning US$357 billion in 2024. The commission leader, who will travel to Beijing with European Council president Antonio Costa, said the pair will seek to loosen export restrictions on rare earths, while Brussels also looks at 'developing alternative supply resources'. Beijing snapped back today, saying that in the 'current turbulent situation', the bloc and China should 'properly handle divergences and frictions'. 'We hope that the EU will truly establish a more objective and rational understanding of China and pursue a more positive and pragmatic China policy,' Mao said.
Bloomberg
07-07-2025
- Business
- Bloomberg
US Trade Deals Prove Too Complex for Trump's Fast Track
Once upon a Liberation Day, this was going to be the week by which President Donald Trump would have renegotiated America's trading relationships with the world. We're still waiting for the flurry of promised bilateral deals, which Trump telegraphed will start rolling out around noon today in Washington. On Sunday we got an indication the July 9 deadline may effectively be extended to Aug. 1. But we do know more than we did about what Trump wants the US's economic connections with other countries to look like than we did 90 days ago.
Zawya
03-07-2025
- Business
- Zawya
Sharjah Chamber strengthens investment cooperation with Africa during first-ever trade mission to Mauritius
Mauritius: The Sharjah Chamber of Commerce and Industry (SCCI) concluded its first-ever official trade mission to the Republic of Mauritius, which was organized in collaboration with the Economic Development Board (EDB) of Mauritius from June 30 to July 3. The mission aimed at strengthening economic and trade relations and fostering stronger business-to-business engagement. It focused on exploring high-potential investment opportunities and expanding cooperation and coordination between the business communities of Sharjah and Mauritius. This strategic initiative is part of the Chamber's ongoing efforts to attract targeted investments and support the global expansion of private enterprises and local businesses into opportunity-rich markets. Led by H.E. Abdallah Sultan Al Owais, Chairman of SCCI, the delegation comprised Sheikh Majid Faisal Khalid Al Qasemi, First Vice Chairman of SCCI, along with SCCI Board Members H.E. Ziyad Mohmoud Khairalla AlHaji and H.E. Mohamed Ali Marzook Binkamil. The delegation also included Dr. Fatema Khalifa Al Muqarrab, Director of International Relations at SCCI; Mai Sultan bin Hadda Al Suwaidi, Head of Partnerships and International Cooperation at SCCI; and Dr. Lina Al Samkari and Dr. Hassan Al-Kharrat from Al Hanan Ind LLC. The Sharjah Chamber commenced its trade mission with high-level meetings with senior officials from the Government of Mauritius. The delegation met with Hon. Dhaneshwar Damry, Junior Minister of Finance; Hon. Shakeel Mohamed, Minister of Housing and Lands; Hon. Hambirajen Narsinghen, Junior Minister of Foreign Affairs, Regional Integration and International Trade; Hon. Sayed Muhammad Aadil Ameer Meea, Minister of Industry, SME and Cooperatives; and Hon Mahomed Osman Cassam Mahomed, Minister of Land Transport. During the meetings and in the presence of Mahen Abhimanu Kundasamy, CEO of EDB, both sides discussed ways to strengthen bilateral economic cooperation and explore investment opportunities in high-potential sectors. They emphasized the importance of activating public-private partnerships and exploring new avenues of collaboration in key sectors, including real estate, infrastructure development, financial services, tourism, and renewable energy. The two sides also discussed opportunities for exchanging expertise and successful experiences in the fields of economic development and enhancing cooperation between the business communities of both countries. The discussions underscored the commitment to advancing bilateral ties and promoting sustainable growth in both the UAE and Mauritius. During these meetings, H.E. Shakeel Mohamed received a formal invitation to serve as Guest of Honor at the upcoming edition of the Sharjah Real Estate Exhibition 'ACRES' scheduled to take place at Expo Centre Sharjah in January 2026. In his keynote address, H.E. Abdallah Sultan Al Owais stated that Mauritius stands out as one of Africa's most dynamic and flourishing economies, acting as a strategic regional gateway linking the African continent with Southeast Asia. He noted that organizing this first-of-its-kind trade mission marks a strategic step toward deepening economic cooperation between Sharjah and Mauritius, stimulating trade and investment flows and fostering greater collaboration between private sector players in both markets. 'The importance of this mission is further underscored by the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Mauritius, which came into effect earlier this year. The agreement opens the door for the business communities in both countries to benefit from exceptional advantages, including customs exemptions, facilitated trade exchange, and increased investment potential across strategic sectors such as manufacturing, renewable energy, tourism, and logistics services,' Al Owais added. The official trade mission featured an interactive business forum themed 'Deepening Economic Ties', jointly organized by the Sharjah Chamber and the Economic Development Board (EDB) of Republic of Mauritius. The session was attended by the Sharjah Chamber delegation members, alongside Mahen Abhimanu Kundasamy, CEO of EDB, and a group of Mauritian business leaders and entrepreneurs representing key industries such as financial services, hospitality, real estate, healthcare, and manufacturing. During the forum, Dr. Fatema Khalifa Al Muqarrab delivered a presentation titled "Business and Investment Opportunities in Sharjah', highlighting the emirate's investor-friendly ecosystem and its appeal as a global investment destination for the private sector. Mahen Abhimanu Kundasamy also made a presentation on Innovative Mauritius, showcasing the country's innovation strategy and its well-diversified economy and sectors with strong potential for collaboration with Sharjah. As part of the official trade mission agenda, the Sharjah Chamber signed a Memorandum of Understanding (MoU) with the Mauritius Chamber of Commerce and Industry (MCCI). The agreement, signed by H.E. Abdallah Sultan Al Owais and Charles Harel, President of MCCI, aims to unlock new channels of collaboration across several strategic economic sectors, including financial services, tourism investment, and pharmaceutical manufacturing. It also seeks to encourage Emirati companies to capitalize on Mauritius's strategic location as a gateway to African markets. The signing of the MoU coincided with the 175th anniversary of the Mauritius Chamber of Commerce and Industry, a milestone that reflects the deepening relations between the UAE and Mauritius. These ties have been further strengthened by the Comprehensive Economic Partnership Agreement (CEPA) between the two countries, which has contributed to a remarkable 221% increase in Mauritian exports to the UAE since 2018. The agreement has opened new avenues for collaboration in key strategic sectors such as healthcare, finance, tourism, manufacturing, and investment. Through this partnership agreement, the Mauritius Chamber aims to bolster its cooperation with the Sharjah Chamber and capitalize on its extensive global network of over 70 strategic global partnerships. The Sharjah Chamber delegation concluded their official trade mission by conducting a field visit to the facilities of IFFCO Group, a prominent UAE enterprise with a strong footprint in Mauritius, serving as a benchmark for successful industrial and investment expansion in global markets. During the visit, the delegation was briefed on the group's production operations, strategic expansion roadmap, and flagship projects in Mauritius, as well as insights into its supply chain integration across regional and international markets. The trade mission organized a series of events and site visits aimed at exploring major economic and investment projects and ventures in Mauritius. The program also included targeted business dialogue sessions designed to facilitate meaningful networking opportunities and foster stronger business-to-business connections between Emirati entrepreneurs and their Mauritian counterparts.
Al Arabiya
27-06-2025
- Business
- Al Arabiya
China says it has confirmed details of trade deal with US
China announced on Friday it had confirmed details of a trade deal with the United States, saying Washington would lift 'restrictive measures' while Beijing will 'review and approve' items under export controls. 'It is hoped that the United States and China will meet each other halfway,' a spokesperson for Beijing's commerce ministry said in a statement, calling for 'the healthy, stable and sustainable development of China-US economic and trade relations.'
ABC News
14-06-2025
- Business
- ABC News
As Donald Trump confirms G7 attendance, Albanese sweats on confirmation of a one-on-one meeting
Anthony Albanese will pay a visit to US tech giant Amazon during a stopover to Seattle, where he will make the case for free trade and underscore the "strength of the economic relationship" between the two countries, as Australian officials scramble to secure his first face-to-face meeting with Donald Trump. Ahead of his 79th birthday, the White House has confirmed the US president will fly to the Canadian Rockies on Monday for the three-day G7 summit and while trade and security are the focus, Israel's surprise attacks on Iran have the potential to up-end the agenda. The last time Mr Trump attended a G7 summit on Canadian soil, the president himself up-ended the agenda, refusing to sign the final leaders' statement and deriding Canada's then-prime minister Justin Trudeau as "very dishonest and weak" as he flew out on Air Force One. Canada's new Prime Minister, Mark Carney, is hoping to avoid another blow up, forgoing the final communique this year in favour of "action-oriented leader statements", meaning the G7 leaders won't need to reach a consensus on a range of economic and foreign policy issues. It is on the sidelines of the diplomatic meeting, however, that Mr Albanese is seeking to meet Mr Trump in person for the first time and convince him to drop his tariffs on Australia and stay the course on the AUKUS submarine pact. The Trump administration's decision to review the agreement, at the same time as it calls on Australia to dramatically lift its defence spending, has raised the stakes for Mr Albanese to secure a meeting at the mountain resort in Kananaskis to find some common ground. The pair have spoken on the phone twice since Mr Trump's re-election but have never met in person. Potentially complicating his bid is the fact that several leaders are racing to lock-in one-on-one talks with the US president, including Ukraine's Volodymyr Zelenskyy and Mexico's Claudia Sheinbaum, as his America-first agenda causes global turmoil. At this stage, it appears Japan's Shigeru Ishiba is the only leader who has publicly confirmed a coveted bilateral meeting. To help make his case, Mr Albanese will highlight the deep Australian-US business links on Sunday by visiting Amazon's headquarters in the thriving tech hub of Seattle — a company set to announce billions more "to expand the Australian network of data centres". He will then address business leaders, alongside Australia's Ambassador to the US, Kevin Rudd, highlighting the importance of "free and fair trade". "This sends a signal to the world — and it's a powerful symbol of Australia and the United States cooperating to seize and shape a new era of prosperity," Mr Albanese is expected to say. "The United States is Australia's largest foreign investment destination and our largest two-way investment partner. "Our task is to build on this strength — and diversify beyond it." Amazon already plans to open new data centres in Sydney and Melbourne and is building a $2 billion cloud-based storage system to handle top-secret data for Australia's military and spy agencies. At the time of that announcement in 2024, Amazon's Iain Rouse said the company had been in Australia for a decade and "was in the for the long haul with this partnership". "In the last decade, we've invested $9.1 billion into Australia. And we've committed with further $13.2 billion worth of investment through 2027," he told reporters. Companies, including Amazon, are racing to build new data centres around the world to meet the increasing demand for computing power and storage, driven largely by AI and the widespread adoption of cloud computing.
