Latest news with #economicties
South China Morning Post
6 days ago
- Business
- South China Morning Post
Why China's Central Asian footprint is about to get bigger
The second China-Central Asia Summit , held in Astana in Kazakhstan last week, was an ideal opportunity for Beijing to strengthen economic and political ties not only with the host country but also with Kyrgyzstan, Uzbekistan, Turkmenistan and Tajikistan. The Astana Times reported that a total of 58 agreements worth nearly US$25 billion were signed between China and its regional partners. China also reached a series of bilateral agreements and memorandums of understanding with Kyrgyzstan and Tajikistan. Earlier this week, Kazakhstan announced that China National Nuclear Corporation would lead a project aimed at building another nuclear power plant in the Central Asian country. These developments indicate that Beijing's influence in this strategically important region is only growing. However, that does not mean that other global actors are sitting idly by and watching as China strengthens its position in Central Asia. Earlier this year, the European Union sought to expand its ties with the region through the EU–Central Asia Summit format. It is not a secret that Brussels is eyeing Central Asian raw materials. Russia, meanwhile, despite its preoccupation with the war in Ukraine, still sees the region as its 'near abroad' and maintains relatively strong security ties with Kazakhstan, Kyrgyzstan and Tajikistan – all members of the Moscow-led Collective Security Treaty Organisation (CSTO).
Zawya
16-06-2025
- Business
- Zawya
Jordan: EFTA amendments open 'new horizons' for national exports — JEBA
AMMAN — The Jordanian-European Business Association (JEBA) on Saturday said that signing amendments of the Free Trade Agreement with the European Free Trade Association (EFTA) marks a 'strategic' step towards enhancing economic ties with European partners and expanding export opportunities. JEBA President Ali Murad said that the "updated" agreement, covering Iceland, Liechtenstein, Switzerland and Norway, will contribute to aligning Jordan's trade framework with the latest European and international standards, the Jordan News Agency, Petra, reported. The amendments also reflect ongoing developments under the Pan-Euro-Mediterranean (PEM) Free Trade Area. "These updates make the agreement more dynamic and better suited to the needs of modern trade, while creating a supportive legal and commercial environment for investors on both sides," Murad said. He also highlighted the signing of three additional bilateral agreements with Norway, Switzerland and Iceland in the agricultural sector as evidence of both sides' commitment to boosting specialised trade, particularly in sectors vital to the Kingdom's economy. The JEBA president stressed that the move will support national efforts to improve access to "advanced" European markets, at a time when increasing exports and diversifying trade partnerships are 'key' priorities. "At JEBA, we look forward to building on these agreements and providing technical and advisory support to help Jordanian businesses seize new trade and investment opportunities and contribute to sustainable economic growth," Murad added. Jordan's exports to Iceland, Switzerland and Norway reached around JD75 million last year, according to official data, while no exports were recorded to Liechtenstein, according to Petra. The amendments were signed in Geneva by Jordan's Representative to the UN and the World Trade Organisation (WTO) Akram Harahsheh on behalf of the Jordanian government, along with the ambassadors of the EFTA countries. The changes aim to modernise the agreement, which originally came into force in September 2002, to promote trade and economic growth while ensuring alignment with updated rules under the PEM framework, Petra reported.
Free Malaysia Today
08-06-2025
- Business
- Free Malaysia Today
US, Chinese officials exchange barbs at Shanghai event over trade
The US consul general in Shanghai said US-China economic ties have remained unbalanced and non-reciprocal for too long. (EPA Images pic) SHANGHAI : US and Chinese officials traded barbs at a celebration held by a US business chamber in Shanghai on Friday, as the chamber appealed to both countries to provide more certainty to American businesses operating in China. Scott Walker, consul general of US consulate in Shanghai, told a gathering of US businesses aimed at celebrating the 110th anniversary of the American Chamber of Commerce (AmCham) in Shanghai that the US-China economic relationship had been unbalanced and non-reciprocal 'for far too long.' 'We want an end to discriminatory actions and retaliation against US companies in China,' he said. In a speech that directly followed Walker's, Chen Jing, a Shanghai Communist Party official who is also the president of the Shanghai People's Association for Friendship with Foreign Countries, countered Walker's view. 'I believe the consul general's view is prejudiced, ungrounded and not aligning with the phone call of our heads of states last night,' he said. The interaction reflects the continued strained relationship between both countries as the trade war continues to simmer. US President Donald Trump and Chinese leader Xi Jinping spoke over a long anticipated call on Thursday, confronting weeks of brewing trade tensions and a battle over critical minerals. Trump later said they agreed to further talks. It came in the middle of a dispute between Washington and Beijing in recent weeks over 'rare earths' minerals that threatened to tear up a fragile truce in the trade war between the two biggest economies. The countries struck a 90-day deal on May 12 to roll back some of the triple-digit, tit-for-tat tariffs they had placed on each other since Trump's January inauguration but the deal has not addressed broader concerns that strain the relationship and Trump has accused China of violating the agreement. Eric Zheng, president of AmCham Shanghai which counts over 1,000 companies among its membership, told reporters on the sidelines of the event that many companies had put their decision-making on pause due to the uncertainty. 'People are looking for some more definitive, durable statements on both sides that enable businesses to feel more secure,' he said. 'Our number one ask from the two governments is to give us some certainty so that we can plan accordingly.'
