Trade

China’s ally Pakistan secretly developing trade ties with Taiwan
Trade

China’s ally Pakistan secretly developing trade ties with Taiwan

Pakistan, a close ally of China, is secretly developing trade ties with Taiwan, which showcases its duplicity.In a recent meeting, Sidrah Haque, trade and investment attache at the Embassy of Pakistan in Cairo met with Michael Yeh, the director of Taiwan Trade Centre in Cairo to discuss the trade ties.She tweeted about the meeting along with a picture with Michael Yeh, but later deleted it fearing condemnation by Beijing."Met Mr. Michael Yeh, a veteran commercial officer from Taiwan Trade Center. We spoke of Pakistan-Taiwan trade ties, our shared commercial experience in Cairo and major products of interest in the local market. Always feels good to connect with other trade wings and compare notes!” Sidrah Haque said in her tweet.China has no control over Taiwan but claims it as part of its...
Cross-border petroleum pipeline helps Nepal save freight charges
Trade

Cross-border petroleum pipeline helps Nepal save freight charges

Nepal is saving 2 billion rupees annually in freight charges after the first cross-border petroleum pipeline of South Asia became operational in September 2019.Nepal earlier has been spending 2 billion rupees as freight expenses to bring the petrol from Patna in India. "Not only the freight charges, it also has helped in avoiding the vagaries of transportation by tanker trucks," said Surendra Kumar Paudel, Managing Director of Nepal Oil Corporation.It takes at least 14 hours to transport oil from Patna in India to Amlekhganj. Indian Oil Corporation has been the sole supplier of fuel to Nepal Oil Corporation since 1974.In February this year, a team from the Indian Oil Corporation, which built Amlekhganj pipeline, conducted a survey for pipeline connecting Nepal Oil Corporation's depot at Ch...
US must end trade deal with China: East Turkistan National Awakening activists
Trade

US must end trade deal with China: East Turkistan National Awakening activists

In view of China’s consistent engagement in “genocide, organ harvesting and using slave labour of Uyghurs”, the East Turkistan National Awakening Movement has urged the US Trade Representative to ends its trade deal with Beijing and officially recognize the genocide of Uyghur Muslims.“The @USTradeRep must END its #TradeDeal with #China. #America shouldn’t engage in trade with #CCP regime that is engaging in genocide, organ harvesting & using #SlaveLabor of #Uyghurs. We urge the @WhiteHouse to officially recognize the #UyghurGenocide & take ACTION to STOP it,” the East Turkistan National Awakening Movement said in a tweet.Over the years, Uyghurs in China’s Xinjiang have been tortured with the objective of eradicating their ethnic identity and the population.According to multiple rep...
India-Bangladesh building maritime ties to easily ship goods to NorthEast India
Trade

India-Bangladesh building maritime ties to easily ship goods to NorthEast India

In order to ship goods from Kolkata to northeastern Indian states, the ‘chicken’s neck’ or the 22-km wide Siliguri corridor is the only land-based connection which can be used.  However, with the strengthening of India’s maritime ties with neighboring Bangladesh, the goods are easily being transported through the Chattogram (Chittagong) Port now.The first trial container ship from Kolkata to Agartala through Chattogram port was launched by the Shipping Minister Mansukh Madaviya on July 16.Termed as a historic move, this sea route will open a new chapter in the India-Bangladesh maritime relations by allowing use of Chattogram and Mongla ports for transit of goods from India.Vineet Kumar, Chairman of Syama Prasad Mukherjee Port in Kolkata calls it the extension of the Look-East policy of the...
Saudi Arabia defers to renew pact to supply oil to Pakistan on deferred payments
Trade

Saudi Arabia defers to renew pact to supply oil to Pakistan on deferred payments

Saudi Arabia is yet to renew an agreement worth $3.2 billion with Pakistan that allows oil supplies on deferred payments after that pact expired two months back and decision about its renewal remains pending with Riyadh.According to media reports, the $3.2 billion Saudi oil facility was part of the $6.2-billion Saudi Arabian package announced in November 2018 to ease Pakistan’s external sector woes.“Pakistan has already prematurely returned $1 billion Saudi loan - four months ahead of its repayment period. Pakistan could also return $2 billion remaining Saudi cash loan, subject to availability of similar facility from China. The agreement over $3 billion cash support and $3.2 billion oil facility per annum had the provision of renewal for two more years…Saudi Arabia has not provided the oi...
Indonesia, Australia come into ‘Comprehensive Economic Partnership Agreement’
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Indonesia, Australia come into ‘Comprehensive Economic Partnership Agreement’

In order to reduce trade barriers and boost economic growth, Australia and Indonesia came into the “Indonesia-Australia Comprehensive Economic Partnership Agreement” (IA-CEPA) on July 5.The agreement will open up new opportunities for Australian and Indonesian businesses, primary producers, service providers and investors.“The mutual benefits from this Agreement are critical. Australia wants not only a stronger Australia but also a stronger Indonesia. By reducing trade barriers, we can grow both of our economies and by encouraging trade and investment in areas of high potential for Indonesia, we can build greater capacity for its continued successful development,” the Australian government said in a statement.A key component of the IA-CEPA is a sweeping free-trade agreement (FTA) that will...
Trump signs Hong Kong Autonomy Act, ends city’s preferential trade status
Trade

Trump signs Hong Kong Autonomy Act, ends city’s preferential trade status

In response to Beijing’s moves against Hong Kong, US President Donald Trump signed an executive order ending the city’s preferential trade treatment, and gave way to a bill that would require sanctions against foreign individuals and banks for contributing to the erosion of Hong Kong’s autonomy."Today, I signed legislation and an Executive Order to hold China accountable for its oppressive actions against the people of Hong Kong," Trump said while addressing the media.Trump said he signed Hong Kong Autonomy Act which will give powerful new tools to hold China responsible. The Act will allow the Trump administration to levy sanctions against foreign individuals and banks for contributing to the erosion of Hong Kong's autonomyThe signing of the Act comes two weeks after imposition of the Hon...
China’s use of economic sanctions now fail to serve its geopolitical goals
Trade

China’s use of economic sanctions now fail to serve its geopolitical goals

China's practice of imposing economic sanctions on countries to achieve its own geopolitical goals is nothing new and the regular phenomenon of China bullying others has, in fact, helped other countries to keep several options at bay, said the author of "China's Crony Capitalism", Minxin Pei.Recently, the Chinese Ministry of Culture and Tourism issued an official warning against travel to Australia because of "a significant increase in racist acts and violence against Chinese and Asians in Australia". Two months ago, after Australia had demanded an investigation into the coronavirus outbreak, Beijing imposed an 80 per cent "anti-dumping" tariff on Australian barley, costing Australian 500 million Australian dollars a year.Minxin said Australia is only the latest victim of Chinese bullying....
China making inroads into Pakistan’s mainstream media and telecommunications, warns experts
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China making inroads into Pakistan’s mainstream media and telecommunications, warns experts

Chinese inroads into Pakistan's mainstream media, and state-level bilateral cooperation on telecommunications infrastructure and surveillance is growing, posing a threat to people's freedom of speech in the country, a researcher has warned.Nowmay Opalinski, a research intern with the Centre for Internal & Regional Security (IreS), said, "These developments are taking place against a backdrop of Pakistani state's growing attempts to censor online content domestically. “How does this set of circumstances favour China? Where does China's big picture media strategy fit into this?" he added. Opalinski found that since 2012, the government of Pakistan has been attempting to implement a national firewall to tighten control over content shared online. The introduction of the Pakistan Electroni...
Foodpanda waives commissions for one month for COVID hit Singapore hawkers joining the app
Trade

Foodpanda waives commissions for one month for COVID hit Singapore hawkers joining the app

As hawkers across the nation continue to borne the brunt of the dine-in ban in light of COVID-19, Foodpanda on Friday announced that the hawkers who get on board will not have to pay commission for the first month as part of a new initiative to ease hawkers' entry onto the food delivery app.Dubbed the "pandasupport hawker initiative", the incentive is being rolled out with "the understanding that commission fees are factored as a substantial barrier that is currently preventing hawkers from coming on board Foodpanda", the company said in a press statement.Over the last few months, food delivery apps have faced heat for charging steep commissions of 30 to 40 per cent, eating into hawkers' already-thin margins. Foodpanda's latest move comes as the food and beverage sector prepares for contin...