Category: Politics

The 12th Meeting of the India-UAE High-Level Joint Task Force on Investments (HLJTFI) in Mumbai highlighted opportunities for increased economic engagement, particularly in food parks, digital payments, and green energy.

The meeting,  co-chaired by Piyush Goyal, minister of commerce for India, and Sheikh Hamed bin Zayed Al Nahyan, managing director of ADIA, showcased the expanding collaboration, strengthened by the CEPA.

India and the UAE decided to expedite the establishment of food parks to improve food security in the UAE, generate employment, and raise farmer incomes. ADIA’s subsidiary at GIFT City and the India-UAE office of Invest India were among the new initiatives revealed. The previous BIPPA was superseded by the Bilateral Investment Treaty, which guarantees investors equitable treatment and dispute settlement.

One of the topics of discussion was how to connect the UAE’s AANI and India’s UPI to facilitate easier cross-border payments for the more than 3 million Indians living in the UAE. Goyal pointed out that these programs encourage investment, innovation, and sustainable development.

The Joint Task Force continues to play a critical role in enabling investments in industries such as energy, digital currency, and aerospace, hence promoting economic progress for both India and the United Arab Emirates.

During Vietnamese President To Lam’s recent visit to Paris, Vietnam and France formally upgraded their bilateral ties to a comprehensive strategic partnership, Vietnam’s highest degree of diplomatic connection. This significant movement highlights Vietnam’s crucial role in international supply chains, establishing it as a vital French ally and demonstrating its flexible foreign strategy, sometimes known as “bamboo diplomacy.”

Lam and French President Emmanuel Macron reached a consensus to enhance collaboration in multiple areas, with a specific emphasis on defence and security. The partnership’s foundation was further strengthened by the announcement on Monday of new areas of collaboration, which included improvements in artificial intelligence, aircraft, and airport transportation infrastructure.

With eight countries, Vietnam currently has complete strategic alliances, exhibiting its expanding impact. These important allies also include South Korea, Japan, Australia, China, India, and Russia in addition to France.

According to official figures, commerce between Vietnam and France has been growing, with total trade transactions reaching US$3.4 billion in the first eight months of 2024, up 6.9% from the same period the previous year. This economic expansion highlights the significance of the strengthened relations and portends a future in which both countries would benefit.

South Korea and Singapore are set to become strategic partners in 2024, commemorating 50 years of diplomatic relations. During South Korean President Yoon Suk-yeol’s visit to Singapore on October 8, Prime Minister Lawrence Wong made the announcement about the collaboration. In addition to establishing closer ties in trade, defence, artificial intelligence, and climate change, the countries have signed an extradition treaty.

Wong said, “This upgrade signifies deeper cooperation,” pointing out that both countries have a history as “Asian Tigers” that have had notable economic growth. He underlined their dedication to advancing regional stability and a global system based on norms.

South Korea, the third-largest LNG importer, and Singapore, an LNG hub, signed an agreement on LNG supply cooperation in an effort to strengthen energy security. The collaboration can involve supply chain crisis management techniques, cooperative buying, and LNG exchanges.

Four agreements on supply chains, tech innovation, food safety, and startup ecosystems were also inked by the nations. Yoon emphasised Seoul’s enhanced military cooperation with ASEAN, which includes coordinated drills and work with the defence sector.

Along with this, the leaders promised to fight new challenges including cyber and international crime.

In response to growing security concerns in the region, Presidents Ferdinand Marcos Jr. of the Philippines and Yoon Suk-yeol of South Korea have decided to enhance bilateral ties through increased defence cooperation. The leaders discussed the Korean Peninsula and the South China Sea tensions during their meeting at the presidential palace of the Philippines. Coastguard cooperation and nuclear energy were among subjects of the pacts they signed.

During his first official visit to Manila in over a decade, Yoon took the opportunity to convey South Korea’s readiness to assist the Philippines in its military modernisation efforts. This includes the possible acquisition of advanced weapons such fighter jets and submarines.

Previously, the Philippines has been supplied with navy vessels and FA-50 fighter jets by South Korea, which aspires to become the world’s fourth-largest arms exporter by 2027.

An international rules-based order in the South China Sea was stressed by the leaders, who also denounced North Korea’s nuclear aspirations. They also signed a memorandum of understanding to investigate the possibility of restarting the Bataan Nuclear Power Plant (BNPP), which has been inactive since 1984 in the Philippines. The elimination of coal and the improvement of energy security are two goals of the Philippines’ nuclear power program.

Yoon will travel to Laos and Singapore for regional meetings after his stop in Manila.

South Korea, a technological pioneer, is looking to improve connections with Southeast Asia as it embraces advances in artificial intelligence (AI) and sustainable energy. President Yoon Suk Yeol characterises this collaboration as an important outcome of the ASEAN-South Korea comprehensive strategic partnership (CSP), which will be established during upcoming talks in Vientiane, Laos. He noted that ASEAN’s rapid expansion in the digital sector might create mutually beneficial cooperation, resulting in practical benefits for both regions.

South Korea, home to tech titans like Samsung and LG, intends to assist ASEAN by creating high-performance computer infrastructure and improving cybersecurity education. Yoon emphasised the importance of strategic coordination in politics and security, particularly given escalating regional tensions. He thanked ASEAN for its unified stance against North Korea’s nuclear activities.

South Korea intends to exchange renewable energy technology and invest in industries such as electric vehicles and biotechnology, to address climate change challenges. The 2023 Partnership for ASEAN-South Korea Methane Action focuses on reducing methane emissions and achieving carbon neutrality. With over 6,000 South Korean enterprises in ASEAN, the country’s second-largest investment destination, the cooperation is ready to move beyond trade and towards economic security.

On Sunday, Maldives President Mohamed Muizzu and First Lady Sajidha Mohamed came to India for their first bilateral visit, a watershed moment in developing relations between the two countries. Kiriti Vardhan Singh, Union Minister of State for External Affairs, greeted them when they arrived. The visit aims to strengthen diplomatic and economic ties, which have been strained in recent years.

President Muizzu will meet with President Droupadi Murmu and Prime Minister Narendra Modi to talk about economic cooperation, maritime security, and regional issues. On Monday, he will attend a ceremonial reception at Rashtrapati Bhawan, lay a wreath at Rajghat, and hold high-level meetings with Modi, which could result in new agreements.

Despite his previous “India Out” campaign calling for the evacuation of Indian military personnel from the Maldives, Muizzu has now moderated his attitude, retaining strategic links with India while also balancing ties with China. The visit symbolises a rebalancing of the Maldives’ foreign policy.

Both states have recently made attempts to close diplomatic gaps. Muizzu’s visits to Mumbai and Bengaluru will involve discussions with business leaders and the Maldivian diaspora, with the goal of strengthening investment links. India has demonstrated its commitment to its maritime neighbour by providing financial assistance to the Maldives, highlighting a shared desire to strengthen bilateral relations.

India and the United States are negotiating an agreement to boost collaboration in vital minerals. The issue will focus on India’s Commerce and Industry Minister Piyush Goyal’s visit to Washington from September 30 to October 3. The visit is at the invitation of US Secretary of Commerce Gina Raimondo.

Goyal and Raimondo will address methods for diversifying and expanding vital mineral supply networks between India and the United States. According to the Commerce Ministry, both countries are negotiating a Memorandum of Understanding (MoU) to capitalise on their complementary strengths and increase cooperation in essential minerals such as cobalt, lithium, nickel, and rare earth elements, which are critical for clean energy technologies such as electric vehicle batteries and wind turbines.

In addition, Goyal will meet with US Trade Representative Katherine Tai to discuss continued trade engagement through the Trade Policy Forum and prospective options for increasing bilateral trade. He will co-chair the India-US CEO Forum and the 6th India-US Commercial Dialogue on October 2 and 3, to strengthen economic connections and improve the business environment.

Goyal will also meet with American and Indian CEOs to discuss investment prospects in India, emphasising strategic collaborations in crucial sectors such as clean technology and supply chain resilience.

According to a statement issued by Greece’s foreign ministry on Wednesday, Greece and Turkey are considering beginning conversations about demarcating respective maritime zones. Both countries, NATO partners with a long history of friction, have been at odds for decades over problems ranging from airspace conflicts to marine authority in the eastern Mediterranean, as well as Cyprus’ unresolved status.

The designation of maritime zones is critical in deciding rights to potential natural gas reserves and future power infrastructure developments. While tensions were intense in the past, new efforts have been made to normalise ties. Last year, Greece and Turkey agreed to keep communication channels open and work on longstanding disputes.

On Tuesday, Greek PM Kyriakos Mitsotakis and Turkish President Recep Tayyip Erdogan met in New York for the annual United Nations General Assembly. According to statements released by both the Turkish presidency and the Greek foreign ministry, they addressed bilateral relations.

Following their meeting, Greek Foreign Minister George Gerapetritis declared that the two leaders had directed their foreign ministries to assess if conditions were favourable to begin talks on defining the continental shelf and exclusive economic zones. The Greek prime minister’s office acknowledged that preparations for a high-level meeting in Ankara in January have already begun.

Anura Kumara Dissanayake, Sri Lanka’s freshly elected president, has named Harini Amarasuriya, a college professor and first-time legislator, as the country’s prime minister. Amarasuriya, 54, earned a degree in social anthropology from the University of Edinburgh and was elected to parliament in 2020 as part of Dissanayake’s National People’s Power Coalition.

Selects Harini Amarasuriya, Sri Lanka’s third woman prime minister, succeeding Sirimavo Bandaranaike and her daughter Chandrika Bandaranaike Kumaratunga.

Dissanayake, a Marxist politician, was elected president on Saturday. He now faces the problem of assembling an interim administration, with some observers expecting he would dissolve parliament and call a swift general election. His party, Janatha Vimukthi Peremuna (JVP), has only three seats in the 225-member parliament.

As the new prime minister, Amarasuriya will be in charge of several crucial portfolios, including foreign affairs, education, and media. Investors are concerned about Dissanayake’s proposals to decrease taxes and renegotiate the terms of a $2.9 billion International Monetary Fund (IMF) bailout, which might cause delays in a vital $25 billion debt restructuring.

Former Prime Minister Dinesh Gunawardene resigned on Monday, thus dissolving the previous cabinet shortly before Dissanayake took office.

The United States has maintained its support for India’s permanent membership on the United Nations Security Council. This endorsement was noted in a joint statement issued by the Quad nations—India, Australia, Japan, and the United States—that emphasised the need for UNSC reform to reflect modern geopolitical realities.

During a conversation with Prime Minister Modi, President Biden highlighted the United States’ support for India’s membership in a reformed UN Security Council. The White House highlighted the importance of changing global institutions to include India’s voice, signalling a drive for greater inclusion at the UNSC.

The joint declaration, known as the ‘Wilmington Declaration,’ emphasised the significance of establishing a more representative, inclusive, transparent, and efficient Security Council. The Quad members reiterated their shared commitment to supporting international institutions that promote global peace, prosperity, and sustainable development in accordance with the UN Charter.

The statement also emphasised the importance of extending both permanent and non-permanent seats on the UNSC to include regions such as Africa, Asia, Latin America, and the Caribbean. This extension intends to make the Security Council more democratic and responsible so that it better reflects the existing global order.