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The Diplomat
08-07-2025
- Business
- The Diplomat
The Path to a US-India Trade Deal Lies Through Economic Security
A broader trade agreement, including cooperation on key supply chains, foreign investment, and advanced technologies makes a deal more likely and can help the U.S. and India more effectively counter China. Negotiations for a U.S.-India trade deal have been progressing at breakneck pace, as officials rush to reach an agreement before President Donald Trump's July 9 tariff deadline. India being near the front of the line is surprising, given that the two countries have consistently imposed high trade barriers and haven't signed a deal despite years of discussions. But Delhi is ready to negotiate because it sees an even bigger geoeconomic play: undercut China's status as a leading manufacturing hub and destination for investment by securing key supply chains and investing in advanced technologies. To seal the deal, Washington and Delhi should put economic security issues at the heart of the agreement. Getting to yes will require overcoming a long history of nos. In 2019, the U.S. removed India from the Generalized System of Preferences (GSP) program, and India imposed retaliatory tariffs on 28 U.S. goods in response to earlier Section 232 tariffs on steel and aluminum. While mutual tech and defense cooperation increased during the Biden administration, and India joined the non-trade pillars of the Indo-Pacific Economic Framework, there was little progress in improving market access apart from the removal of previous tariffs and resolution of WTO disputes. Despite Trump's recent optimism, ongoing negotiations for a first tranche deal are facing several hurdles, largely due to U.S. demands for lower trade barriers for steel and agricultural products. The task of lowering tariffs and non-tariff barriers for agriculture is especially politically costly for the Indian government, given that 46 percent of the workforce is involved in agriculture. While still willing to negotiate, Indian officials have signaled their preference for a good deal that puts national interest first rather than just a deal, which may defer discussions on tariffs for key industries and constituencies to a future round of negotiations. Washington and New Delhi's mutual economic dependence on China presents yet another opportunity for collaboration in national interest. The U.S. and India are reliant on China for a variety of goods, ranging from steel and rare earths to solar cells and pharmaceutical inputs, which are vital for commercial industry as well as national security needs. Recent episodes, including China's export ban on rare earths, have highlighted just how vulnerable their respective economies are to Chinese economic coercion. This dependence is holding back the U.S.-India economic partnership, and while reducing tariffs and other trade barriers is an important step, addressing the dragon in the room can cement this relationship as 'the defining partnership of the 21st century.' To this end, policymakers must consider deepening cooperation in three core pillars of economic security — securing supply chains, building resilience against foreign economic coercion, and building an allied ecosystem for advanced technologies — to enhance the value of a trade deal and address common security concerns. Collaboration on supply chains should include sectors critical to economic and national security, and where there is a clear dependence on China. Obvious candidates include pharmaceuticals and critical minerals, where China either manufactures a large proportion of inputs or possesses significant reserves and processing capacity. India is a key supplier of pharmaceutical products to the U.S. but is reliant on China for key starting materials. While India has already introduced incentives to onshore the production of inputs, there is space to coordinate industrial policy with the U.S. to fund the co-production of key starting materials and active pharmaceutical ingredients, or establish a strategic pharmaceutical ingredient reserve. Similarly, India's vast critical mineral reserves (rare earths, cobalt, and graphite) and push for domestic production could provide an opportunity for the U.S. to fund and transfer technology for refining projects in exchange for security of supply agreements. Building resilience against Chinese economic coercion also includes anticipating and mitigating the risk of Chinese capital in domestic markets while simultaneously filling the gap through bilateral investment. While both countries have robust investment screening frameworks, India has pursued a significantly more restrictive policy toward Chinese FDI since a border clash in 2020. Attitudes in Delhi may be softening, however, as India needs foreign investment to build out domestic manufacturing. To court investments from the U.S., Indian officials must consider expanding the automatic route for FDI approvals to more sectors, including raising the 74 percent cap for the burgeoning defense industry, and reducing tax rates for U.S. firms investing in target sectors and regions. Although FDI from India pales in comparison to that from China ($4.6 billion vs $28 billion in 2023), Washington should include Indian investment into a proposed CFIUS fast track to ensure it capitalizes on the growth of the world's fourth-largest economy. To win the global technology race, the U.S. must also look to India, among other allies, to manufacture and adopt advanced technologies. Capturing the market of the world's most populous country, after all, is perhaps the only way to achieve global adoption of tech platforms like AI and quantum based on U.S. IP. The above-mentioned reforms are key to increasing investment and developing secure supply chains, but the core problem of technology and knowledge transfer remains. The scrapping of the 'AI Diffusion Rule' is a step forward in increasing access to advanced chips among partners like India and Singapore, and the Trump administration should prioritize such countries in negotiations relaxing export controls for advanced tech. Given that Washington will be rightfully concerned about the flow of these chips to Russia and Iran, New Delhi should consider increasing resources to the Directorate General of Foreign Trade and customs authorities to better enforce the SCOMET (special chemicals, organisms, materials, equipment, and technologies) list and implementing contractual solutions that impose liabilities on exporters shipping to Russia or Iran. While the U.S. and India often clash on tariffs and market access, a broader trade agreement including concrete provisions for cooperation on key supply chains, foreign investment, and advanced technologies may help them move past enduring pain points and more effectively counter China's coercive practices.
Business Recorder
05-07-2025
- Business
- Business Recorder
Procurement rules: govt seeks Law Ministry's views on SIFC powers
ISLAMABAD: The government has sought the Law Ministry's opinion on whether the powers of the Special Investment Facilitation Council (SIFC) take precedence over the Public Procurement Rules in the hiring of consulting firms, sources close to the Secretary of Commerce told Business Recorder. This move follows a summary submitted by the Ministry of Commerce seeking to hire M/s Haider Global BVBA, a lobbying firm, to assist in the extension of Pakistan's Generalised Scheme of Preferences (GSP) Plus status with the European Union (EU). On June 17, 2025, MD (PPRA) Hasnat Ahmed Qureshi informed the Board that the Ministry of Commerce in a letter of June 12, 2025 had requested the Authority for exemption from application of Rules 20 & 21 of the Public Procurement Rules, 2004 and other applicable provisions of PPRA framework, for hiring the services of a lobbying firm in Europe, through direct contracting, in terms of Section 21 of the PPRA ordinance, 2002. The lobbying firm will help in the ongoing review and renewal of Pakistan's GSP Plus status. EU-Pakistan business forum in May: SIFC readying its strategy Adding background of the case, MoC explained that the current GSP Scheme was introduced by the European Union in 2012 through EU Regulation 978/ scheme was implemented on January 1, 2014, and initially intended to remain in effect for ten years, until December 31, 2023. The European Parliament has approved an amendment to the said EU Regulation, extending the validity of the existing GSP Regulation by four years, up to December 31, 2027, instead of December 31, 2023. The scheme provides zero duties on over 66% of EU tariff lines, and exports from Pakistan to the EU have increased from $ 4.6 billion in 2014 to $ 8.38 billion in 2024. Pakistan has undergone four biennial reviews of the GSP Plus, and the next review is now due, with a Monitoring Mission scheduled to visit Pakistan starting on June 22, 2025. However, the visit has been postponed due to the conflict in the Middle East and unpredictable travel logistics at that time. Now the Monitoring Mission is expected in November or December this year. According to the MoC, considering the significance of GSP Plus status for Pakistan's exports, the hiring of a lobbying firm is critical for the renewal and extension process. The Ministry highlighted that such a firm should: (i) possess expertise in EU law and conventions to support Pakistan in formulating appropriate legal responses; (ii) assist Pakistani businesses in adapting to evolving EU regulations affecting key sectors; and (iii) maintain access to experienced former EU policymakers who can provide insights on potential political and economic challen8es. The Ministry of Foreign Affairs (MoFA) has enclosed the proposal and payment schedule from M/s Haider Global BVBA regarding the ongoing review and renewal of Pakistan's GSP plus status. The proposal was received from Pakistan's s Mission in Brussels. According to the proposal, the contract term will be three years, with a total payment of Euro 6 million (approximately Rs 2 billion) to be made as per the payment schedule. In view of the upcoming visit of the Monitoring Mission of the European Commission, the MoC is of the view that it is imperative that a lobbying firm, as proposed by the Pakistan Mission in Brussels, may be hired on an urgent basis to safeguard our national interest. MD (PPRA) further stated that the MoC, in this regard, submitted a summary to the Prime Minister, through the Ministry of Foreign Affairs, Finance Division, and SIFC seeking approval for hiring the services of a lobbying firm by relaxation of the relevant provisions of the PPRA Rules and other financial codal formalities. The SIFC on June 10, 2025 endorsed the request of the Ministry of Commerce and decided 'given the extreme time constraint and criticality of GSP for national economy, SIFC endorses the request of the Ministry of Commerce for exemption from relevant clause of PPRA rules to enable it to go for direct contracting with a firm which has the required expertise, experience and standing to fulfil task, price reasonability be worked out by the Ministry of Commerce.' Subsequently, the Prime Minister's Office in a letter of June 12,2025, directed the MoC that the matter be placed before the PPRA Board along with recommendations of SIFC for consideration and approval. 'Before the case is submitted for the orders of the Prime Minister, Ministry of Commerce shall place the case along-with the recommendation of SIFC for the consideration and approval of the PPRA Board and resubmit the summary accordingly for the order of the Prime Minister.' Secretary Commerce Division, Jawad Paul and the Additional Secretary Europe (MoFA) were present in the meeting to defend the case, while the Deputy Head of Mission, Pakistan's Mission in Brussels, attended the meeting via video link. Responding to a query by a Board member, regarding the urgency of the matter, Secretary Commerce explained that the review Monitoring Mission of European Commission will be visiting Pakistan to consider the status of Pakistan, therefore it is critical for continuation of GSP plus scheme that the firm is hired on immediate basis. The Chair/ Secretary Finance, Imdad Ullah Bosal pointed out that the PPRA Board could only recommend exemptions from application of the procurement Rules, and that the finalization and hiring of a lobbying firm was to be done by the Commerce Division as a procuring agency in this case. During the discussion, the Secretary of Commerce also highlighted the need for clarity regarding the recommendation of exemption from application of PPRA rules, both by the SIFC and PPRA Board, as it leads to duplication and consumes considerable time. He was of the view that referring such cases to the PPRA Board should not be required when SIFC had already recommended the case. Most Board members also expressed similar views on the issue and recommended adopting a consistent and standardized approach for handling cases endorsed by the SIFC for exemptions from the procurement Rules. One member opined that it is a question of law and clarification should be sought from the Law Division as to whether the PPRA Board should consider exemption from application of procurement rules, already recommended by SIFC under 10-F of Board of Investment Act 2023 'power to relax or exempt from regulatory compliance' or otherwise? Secretary Commerce emphasized that in line with the recommendations and endorsement of the SIFC and direction of PMO, PPRA Board should recommend the case to the Federal Government, for grant of exemption from operation of Rules 20 and 21 of PPRA Rules, 2024, and other applicable provisions of PPRA Framework for hiring of M/s Haider Global BVBA through direct contracting under Section 21 of PPR Ordinance. After a thorough discussion on the importance of the matter and legitimacy of the recommendations of the PPRA Board decided to seek opinion from the Ministry of Law &Justice on the legal question as to 'whether exemption recommended/endorsed under Section 10-F of BoI (Amendment) Act, 2023 by the SIFC is sufficient for grant of exemption by the Federal Cabinet or matter is required to be referred to PPRA Board again for consideration of exemption under Section 21 of PPRA Ordinance, 2OO2 in addition to the exemption recommended by SIFC ?' Copyright Business Recorder, 2025
Yahoo
01-07-2025
- Yahoo
Covington police lieutenant charged with DUI
A high-ranking Covington officer was arrested in connection with a June DUI investigation, according to the Georgia State Patrol. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks] On June 12, around 12:25 a.m., the Covington Police Department asked GSP to help with a DUI investigation at the intersection of Williams Street and Elm Street. GSP said the trooper was told Covington officers were out with an off-duty Covington police lieutenant who was suspected of being under the influence. The lieutenant was later identified as 52-year-old Amos Miller. Troopers latner noticed a white SUV stopped in the intersection of Elm Street and Williams Street. The driver was identified as Miller. GSP said Miller had an open can of Blue Moon in his hand. According to GSP, the 52-year-old did not remember how he got to the intersection. TRENDING STORIES: Ross Harris, father accused of leaving son in hot car to die, released from jail Buckhead business owner says remote workers he trusted turned out to be North Koreans who stole $1M Senate passes Trump's big tax breaks and spending cuts bill as Vance breaks 50-50 tie Troopers said they noticed Miller's eyes were dilated and conducted field sobriety tests. At one point during the tests, the lieutenant almost fell over, causing the trooper to grab him. Miller was arrested and charged with improper stopping in a roadway, DUI and open container. He was booked into the Newton County Jail. [SIGN UP: WSB-TV Daily Headlines Newsletter] The Covington Police Department issued the following statement that says in part: The Covington Police Department confirms that Lieutenant Al Miller, who serves in an administrative capacity within the Support Services Division, was arrested for driving under the influence (DUI). 'This incident is deeply disappointing and does not reflect the values or standards of the Covington Police Department,' said Interim Chief Brent Fuesting. 'Our department holds its officers to the highest standards of personal and professional conduct, both on and off duty. A DUI offense not only endangers our publics lives; it also erodes public confidence in our profession. We will not tolerate behavior that undermines the integrity of our agency or the trust of the community we serve.' The Covington Police Department remains committed to transparency, accountability, and upholding the law without exception. Additional updates will be provided as appropriate. Miller has been placed on administrative leave pending the outcome of an internal investigation.
Business Wire
30-06-2025
- Business
- Business Wire
Blaize Secures $56M Edge AI Deployment Across Southeast Asia's Smart Infrastructure
EL DORADO HILLS, Calif.--(BUSINESS WIRE)-- Blaize Holdings, Inc. (NASDAQ:BZAI) ('Blaize'), an edge AI computing leader, announced today that its edge AI platform will be deployed across more than 250,000 intelligent surveillance endpoints beginning in Q2 2025 and continuing through 2026 —supporting a national-scale transformation of real-time smart infrastructure across Southeast Asia through a scalable, hybrid AI deployment. The total value of the contracted purchase order is approximately $56 million, with $6 million in initial revenue expected to be recognized across Q2 and Q3 of fiscal 2025. This deployment represents a pivotal milestone in the adoption of real-world AI, delivering edge-native intelligence for urban infrastructure, traffic monitoring, and public safety applications. The solution's hybrid AI architecture enables seamless coordination between edge inference and centralized analytics—essential for dynamic urban environments. Blaize's Graph Streaming Processor (GSP) and multimodal inference architecture were central to the selection, enabling efficient, scalable analytics across mission-critical workloads. 'Blaize's edge AI platform gave us exactly what we needed to accelerate our next-generation public safety deployments — powerful multimodal processing, seamless integration, and real-time performance,' said a senior advisor to a Southeast Asia smart infrastructure initiative. 'Its ability to handle multiple sensor types and data streams on a single, efficient system was unmatched.' Initial deployment starts in Q2 2025 with continued expansion through 2026. Blaize systems are powering core smart infrastructure use cases including: Traffic management and incident response License plate recognition (LPR) Speed and behavioral analytics Multimodal sensor fusion at the edge 'This is proof that real-world AI transformation is happening now,' said Dinakar Munagala, Co-founder and CEO of Blaize. 'It reflects the strength of our technology and validates our approach to purpose-built, hybrid AI at the physical edge—bringing together edge inference and centralized intelligence to deliver meaningful outcomes. Blaize is proud to support the infrastructure powering this next wave of intelligent systems across rapidly growing smart city ecosystems.' For more information, please visit About Blaize Blaize provides a full-stack programmable processor architecture suite and low-code/no-code software platform that enables AI processing solutions for high-performance computing at the network's edge and in the data center. Blaize solutions deliver real-time insights and decision-making capabilities at low power consumption, high efficiency, minimal size and low cost. Headquartered in El Dorado Hills (CA), Blaize has more than 200 employees worldwide with teams in San Jose (CA) and Cary (NC), and subsidiaries in Hyderabad (India), Leeds and Kings Langley (UK), and Abu Dhabi (UAE). To learn more, visit or follow us on LinkedIn at @blaizeinc. Cautionary Statement Regarding Forward Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the 'Exchange Act') that are based on beliefs and assumptions and on information currently available to Blaize, including statements regarding the future deployment of our products in AI-enabled cameras, future revenues associated with the purchase order, the industry in which Blaize operates, market opportunities, and product offerings. In some cases, you can identify forward-looking statements by the following words: 'may,' 'will,' 'could,' 'would,' 'should,' 'expect,' 'intend,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'project,' 'potential,' 'continue,' 'ongoing,' 'target,' 'seek' or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) the expected benefits of Blaize's business combination with BurTech Acquisition Corp. (the 'Business Combination') are not obtained; (iii) the ability to continue to meet stock exchange listing standards following the consummation of the Business Combination; (iv) the risk that the Business Combination disrupts current plans and operations of Blaize as a result of the consummation of the Business Combination; (v) failure to realize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (vi) costs related to the Business Combination; (vii) changes in applicable law or regulations; (viii) the outcome of any legal proceedings that may be instituted against Blaize; (ix) the effects of competition on Blaize's future business; (x) the ability of the combined company to issue equity or equity-linked securities or obtain debt financing; (xi) the enforceability of Blaize's intellectual property rights, including its copyrights, patents, trademarks and trade secrets, and the potential infringement on the intellectual property rights of others; and (xii) those factors discussed under the heading 'Risk Factors' in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on April 15, 2025 and other documents filed by Blaize from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Blaize assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. Blaize does not give any assurance that it will achieve its expectations. The financial projections in this release are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond Blaize's control. While such projections are necessarily speculative, Blaize believes that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. The assumptions and estimates underlying the projected results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The inclusion of financial information or projections in this press release should not be regarded as an indication that Blaize, or its representatives and advisors, considered or consider the information or projections to be a reliable prediction of future events. The independent registered public accounting firm of Blaize has not audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this press release and, accordingly, has not expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this press release.
Fibre2Fashion
24-06-2025
- Business
- Fibre2Fashion
Malaysia signs economic partnership agreement with EFTA nations
Malaysia has signed an Economic Partnership Agreement with European Free Trade Association (EFTA) member countries—Switzerland, Norway, Iceland and Liechtenstein—in Tromso, Norway, strengthening international trade relations. The agreement offers opportunities for economic cooperation and trade to grow further and enables stakeholders on both sides to achieve valuable tariff savings. The parties also signed a memorandum of understanding (MoU) on cooperation and capacity building, EFTA said in a joint press statement. Malaysia has signed the Malaysia-EFTA Economic Partnership Agreement with Switzerland, Norway, Iceland, and Liechtenstein in Tromso, Norway. The agreement aims to deepen trade and investment ties, covering goods, services, intellectual property, and sustainable development. Over 90 per cent of Malaysia's exports, including all industrial goods, will receive permanent duty-free access to EFTA markets. The agreement is an ambitious and broad-based agreement covering trade in goods, services and investment. Furthermore, this milestone agreement includes areas such as economic cooperation, trade and sustainable development, intellectual property rights, rules of origin, competition, trade facilitation, government procurement, sanitary and phytosanitary measures, and technical barriers to trade. Upon implementation, over 90 per cent of Malaysia's exports—including all industrial goods—will gain permanent duty-free access to EFTA markets, replacing the benefits once offered under the generalised system of preferences (GSP), as per Malaysia's media reports. The Malaysia-EFTA Economic Partnership Agreement (MEEPA) was signed by Malaysia's Minister of investment, trade and industry Tengku Datuk Seri Utama Zafrul Aziz, Minister of trade of Norway and current EFTA chair Cecilie Myrseth, Minister of finance and economic affairs of Iceland Daði Már Kristófersson, Deputy Prime Minister of Liechtenstein Sabine Monauni, and Vice President of Switzerland Guy Parmelin. 'At a time when the international trading system is under pressure, the signing of the Economic Partnership Agreement between the EFTA States and Malaysia is a powerful statement of our shared commitment to open, rules-based trade. It strengthens our economic ties, supports sustainable growth and provides opportunities for businesses and workers on both sides,' said Myrseth. 'This Economic Partnership Agreement represents more than just a trade agreement. MEEPA is a powerful tool for Malaysia and the EFTA States to enhance our bilateral trade and investment partnership, while strengthening our resilience in the face of global challenges. The signing of MEEPA is only the beginning. Together, our priority must be to fully operationalise this agreement and maximise its potential by facilitating greater collaboration between our governments and businesses,' said Zafrul. Fibre2Fashion News Desk (SG)
