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Trade between Afghanistan and Pakistan drops

in ECONOMY/MIDLE EAST by

Bilateral trade between Afghanistan and Pakistan has dropped by almost 2 billion US dollars.
Sarhad Chamber of Commerce and Industry (SCCI) President Zahidullah Shinwari said the trade volume between the two countries was $2.5 billion as he blamed the strained relations between Kabul and Islamabad behind the reducing trade volume between the two countries. Tensions between Kabul and Islamabad remains because the two countries blame each other of no fight against terrorist group. Furthermore, the Afghan government is searching for alternative routes to gain access to international markets to boost trade as the key Chabahar Port in Iran started operations during the recent months besides Kabul and New Delhi have launched the air corridor to help Afghan traders gain access to international markets.

Saudi Aramco expands in India to tap rising demand

in MIDLE EAST/PRESS RELEASE/REGIONS by

Saudi Aramco launched a new Indian venture near New Delhi, a government statement said on Sunday, as the global oil exporter looks to tap rising demand and invest in the world’s third-biggest consumer. India’s Oil Minister Dharmendra Pradhan, who jointly inaugurated the local unit with Aramco Chief Executive Amin Nasser, said the move would help pave the way for “a strategic partnership in the hydrocarbon sector” between the two nations. Saudi Aramco through its subsidiary ARAMCO Asia India (AAI) established its formal business presence in India last year, the statement said. Aramco is investing in refineries in major markets to lock in customers ahead of its initial public offering next year, and the India business, on top of sales, will look for opportunities to take stakes in refining and petrochemical projects in the country.

EU India summit in New Delhi

in PRESS RELEASE/REGIONS by

India hosts the 14th Eu-India summit in New Delhi, where Donald Tusk, President of the European Council and Jean-Claude Juncker, President of the European Commission, represented the EU and India was represented by Prime Minister Narendra Modi. The joint statement reaffirmed a multi level cooperation. They implemented the India-EU agenda for action 2020, that it is a roadmap for bilateral cooperation already in action from the last India-EU summit. Both sides strongly condemned terrorist attack going on all around the world and and called on the global community to react against terrorism. They reaffirmed their commitment to further cooperate on maritime security and welcomed the resumption of tactical exercises in the Gulf of Aden between the EU’s Naval Force Operation ATALANTA and the Indian Navy. The three leaders called to end violence towards the Rohingya minority in Myanmar, spoke about the situation on Korean Peninsula and both condemned the nuclear tests conducted by the DPRK. They reaffirmed their support to the Iranian nuclear issue and called for a diplomatic solution to the Ukraine issue. About Global Challenges India and EU discussed about the problem of global migration and how to mitigate the refugee crisis. On climate change leaders confirmed their commitment to the Paris Agreement and agreed to step up cooperation on its implementation. By the end both sides expressed wisdom of strengthening the economic partnership.

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