Washington, July 23 (IANS) US Secretary of State Marco Rubio on Thursday reaffirmed the Trump administration’s commitment to Southeast Asia, announcing billions of dollars in strategic investments for the region while warning that Iran’s actions in the Strait of Hormuz posed a threat to global trade and freedom of navigation. Addressing the ASEAN Post-Ministerial Conference with the United States in Manila, Rubio said Washington viewed ASEAN as its primary mechanism for engagement in the Indo-Pa…
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Washington, July 9 (IANS) The International Monetary Fund (IMF) on Thursday reaffirmed its support for free trade and open markets despite growing tariff barriers and rising economic nationalism, saying global trade remains essential for raising living standards and reducing poverty, even as it acknowledged that the gains from globalisation have not been shared equally.Speaking at the IMF’s regular press briefing, Julie Kozack, Director of the IMF’s Communications Department, said the Fund’s lon…
Washington, July 9 (IANS) The European Union has rejected suggestions that shifting US trade policies under President Donald Trump drove the conclusion of its landmark free trade agreement with India, saying the pact was the result of years of political commitment and a shared strategic vision rather than short-term geopolitical developments.The remarks came after Christophe Kiener, the European Union’s chief negotiator for the agreement, on Wednesday (local time) pushed back against a suggestio…
London, June 23 (IANS) The International Maritime Organisation (IMO) on Tuesday announced an evacuation plan for more than 11,000 seafarers still stranded in the Strait of Hormuz.The IMO has secured the necessary safety guarantees and verified safe navigation conditions to support the evacuation operation, IMO Secretary-General Arsenio Dominguez said in a statement.The operation follows the signing of a memorandum of understanding between Iran and the United States (U.S.) and will be carried out…
New Delhi, June 11 (IANS) India’s strategy of signing Free Trade Agreements (FTAs) with developed economies is aimed at supporting the country’s long-term growth ambitions by expanding global engagement, attracting investments, promoting innovation, improving quality standards and creating employment opportunities, Union Commerce and Industry Minister Piyush Goyal said on Thursday.Addressing the closing session of the 5th Annual Meeting of India Global Innovation Connect here, Goyal said the…
New Delhi, June 3 (IANS) The UK- India Business Council on Wednesday welcomed United Kingdom’s Secretary of State for Business and Trade, Peter Kyle’s visit to India and called for accelerated implementation of the India-UK Free Trade Agreement (FTA).Secretary Kyle held discussions with Commerce and Industry Minister Piyush Goyal on bringing the India-UK FTA into force at the earliest, the industry chamber said.”Bilateral trade between the UK and India is already worth £48 billion a year and …
Beijing, May 31 (IANS) China’s manufacturing activity slowed further in May as new export orders contracted and input costs kept rising, according to a survey by the country’s National Bureau of Statistics (NBS) released on Sunday. The official manufacturing purchasing managers’ index (PMI) dropped to a three-month low of 50 from 50.3 in April, with the 50-point mark separating growth from contraction, the data showed.While the supply rose during the period, the demand weakened further, with the…
New Delhi, May 20 (IANS) While diplomacy could have reduced tensions in the Persian Gulf, Iran has chosen the path of “maximalist posturing” to choke the Gulf of Hormuz, resulting in the disruption of supply chains which have caused fuel, fertiliser and food prices to soar, leading to immense economic hardship in the developing countries, according to an article in International Business Times.During ceasefire discussions with the United States and other mediators, Iran reportedly attached m…
New Delhi, May 20 (IANS) The growing green strategic partnership between India and Norway offers a practical and scalable model for global climate cooperation, former Norwegian minister for climate and environment Erik Solheim said on Wednesday.Solheim said in an opinion piece for India Narrative that the partnership pairs complementary strengths — Norway’s financial resources and technical expertise with India’s scale.In the current era of climate, geopolitical fragmentation, and lack of b…
New Delhi, May 17 (IANS) Union Commerce and Industry Minister Piyush Goyal will launch the official website of the Bhartiya Vyapar Mahotsav during a two-day national conclave of trade leaders at Bharat Mandapam in New Delhi, organised by the Confederation of All India Traders (CAIT), it was announced on Sunday.The conclave will bring together around 150 prominent trade leaders, representatives of business associations, MSMEs, manufacturers, startups and industry stakeholders from across the coun…