Page 2 - Trade Ties

EU launches new strategic agenda to deepen defence, trade ties with India

The European Union (EU) on Wednesday unveiled a new strategic agenda to significantly ramp up its engagement with India in a range of key areas such as defence, trade and energy, and to jointly tackle major global challenges. The EU said its closer partnership with India is increasingly becoming vital in the wake of the shifting geopolitical realities and that it is prudent for the two sides to strengthen economic growth and security. The 'New Strategic EU-India Agenda' marks a significant milestone in relations between the two sides as it aims to "deepen, broaden, and better coordinate" bilateral cooperation, enhance prosperity and security for both partners and help tackle major global challenges, it said. European Commission President Ursula von der Leyen said: "Now is the time to focus on reliable partners and double down on partnerships rooted in shared interests and guided by common values." "With our new EU-?India strategy, we are taking our relationship to the next level,"

Faltering ties with US drive deeper bilateral ties between India, Japan

Modi's Tokyo visit boosts India-Japan ties with 21 pacts, $67 bn investment push, and deeper cooperation amid US trade tensions and Indo-Pacific challenges

Jaishankar calls for a 'global fair order' amid Trump's tariff pressure

Jaishankar's remarks come amid rising global tensions, with Trump imposing tariffs on India and criticising its oil trade with Russia

B'desh proposes to increase imports from US on first day of tariff talks

Bangladesh has proposed to import more cotton, oil, Boeing aircraft, soybeans, etc from the United States, a Bangladeshi official who participated in the talks said

UAE highlights scope for deeper trade, investment ties within Brics bloc

During the Forum, Al Zeyoudi highlighted the UAE's strong relationships with Brics nations and the community's role in driving innovation and accelerating trade

China urges US to stop weaponising, politicising economic and trade affairs

China will closely monitor the US actions and will take necessary measures to safeguard its own legitimate rights and interests, a Chinese Commerce Ministry spokesperson said

In call with PM Modi, Trump calls for progress toward 'fair' trade ties: WH

US President Donald Trump, in a "productive" phone call with Prime Minister Narendra Modi, sought a move towards a "fair" bilateral trading relationship and deeper India-US cooperation, according to the White House. The two leaders also discussed plans for Modi to visit the US, the White House said in a readout of the call on Monday. Today, President Donald J Trump held a productive call with Prime Minister Narendra Modi of India. The two leaders discussed expanding and deepening cooperation," the readout said. They also discussed a range of regional issues, including security in the Indo-Pacific, the Middle East, and Europe. The President emphasised the importance of India increasing its procurement of American-made security equipment and moving toward a fair bilateral trading relationship, the White House said. The leaders discussed plans for Prime Minister Modi to visit the White House, underscoring the strength of the friendship and strategic ties between our nations, accordin

Centre mulls lower duties, more imports to counter Trump's tariff threats

It could also reduce some import tariffs, with officials drawing up a list of likely products, such as bourbon whiskey and farm goods like pecan nuts, they said

Musk hosts Indian bizmen, says 'open to lowering India-US trade barriers'

Oyo, Flipkart and Aditya Birla Group leaders among entrepreneurs who met with Elon Musk and toured his SpaceX base

First trade agreement under US-Taiwan initiative officially takes effect

The deal includes key commitments aimed at enhancing cooperation in areas such as domestic service industries and the promotion of small and medium-sized enterprises

HSBC, WB's IFC launch $1 bn trade finance programme for emerging markets

The deal aims to support cross-border trade and bolster exports in critical industries

Canada minister assures businesses to support commercial ties with India

Amidst unprecedented diplomatic row between India and Canada, Canadian Trade Minister Mary Ng on Tuesday sought to assure the country's business community that she is committed to supporting the well-established commercial ties between the two countries. I want to reassure our business community that our government remains fully committed to supporting the well-established commercial ties between Canada and India, Ng, the minister of export promotion, international trade and economic development, said in a statement. Our Trade Commissioner Service will continue to assist and provide resources to Canadian companies operating in India, she said as India in an unprecedented step not only recalled its high commissioner from Ottawa but also expelled six of the Canadian diplomats from New Delhi. Let me be clear: Canada stands firmly by its businesses. We will work closely with all Canadian enterprises engaged with India to ensure these important economic connections remain strong, she ...

India-Canada faceoff intensifies: Impact on trade, investment not likely

Experts say that the possibility of a trade deal between India and Canada will remain on the back burner at least while the Justin Trudeau government is in power

India-Canada row: Trade and investment ties unaffected, say officials

The escalation in the diplomatic row between India and Canada will not have an impact on the bilateral trade and investment ties between the two countries, government sources said on Tuesday. They also said that the bilateral trade value is not significant and Canadian funds get route their investments through Singapore, the UAE and the US. "India is a preferred investment destination," they said. Canada is India's one of the primary sources of lentils and now that can come from Australia, they said, adding that Indian students and professionals would also have huge opportunities in different countries. The bilateral merchandise trade between India and Canada actually grew slightly from USD 8.3 billion in 2022-23 to USD 8.4 billion in 2023-24. India's imports from Canada increased to USD 4.6 billion, while exports saw a marginal dip, falling to USD 3.8 billion. During April-July this fiscal, India's exports stood at USD 1.3 billion, while imports were USD 1.37 billion. Think tan

Trade ties with India suspended due to heavy duties': Pak's Ishaq Dar

Foreign Minister Ishaq Dar has said that trade ties between Islamabad and New Delhi have remained suspended since 2019 due to the imposition of "heavy duties by India on imports from Pakistan after the Pulwama attack. In a written reply submitted to the National Assembly on Saturday, Dar, who also holds the deputy prime minister's slot, said: India decided to impose 200 per cent duty on imports from Pakistan, suspended the Kashmir bus service and trade across the Line of Control after the Pulwama attack. According to the Dawn newspaper, Dar was responding to a question by Pakistan Peoples Party lawmaker Sharmila Faruqui seeking details about trade challenges faced by Pakistan in its relations with neighbouring countries, especially India. In March, during a press conference in London, Dar highlighted the eagerness of Pakistan's business community to resume trade activities with India. However, his office later clarified that Pakistan has no plan to resume trade relations with India

Onus on resuming trade ties lies with Pakistan, India must set the terms

India's negotiations must maintain a strategic approach and give concessions that meet its long-term objectives

Pak to 'seriously' consider restoring trade ties with India: FM Ishaq Dar

Pakistan will seriously consider restoring trade ties with India that remained suspended since August 2019, Foreign Minister Muhammad Ishaq Dar has said, indicating a potential shift in diplomatic stance towards the neighbouring nation. Dar made these remarks during a press conference in London following his participation in the Nuclear Energy Summit in Brussels, Geo News reported. He highlighted the eagerness of cash-strapped Pakistan's business community to resume trade activities with India. Pakistani businessmen want trade with India to resume, the foreign minister said on Saturday. Pakistan will consider restoring trade ties with India, he said. We will seriously look into matters of trade with India, Dar was quoted as saying by the Express Tribune newspaper. His remarks indicated a potential shift in diplomatic stance towards India. Pakistan downgraded its diplomatic ties with New Delhi after the Indian government abrogated Article 370 of the Constitution, revoking the spe

Red Sea attacks add urgency to alternate Mideast trade route: Govt

India has taken the first steps with the UAE to begin work on the India-Middle East-Europe Economic Corridor, or IMEC, Sunjay Sudhir said in an interview in Abu Dhabi

Hong Kong eyes stronger economic, trade ties with Thailand to expand role

Hong Kong's leader said Tuesday the city would seek to strengthen its economic and trade ties with Thailand after a meeting with the country's prime minister, as the Chinese financial hub looks for more business opportunities in Southeast Asia. Chief Executive John Lee said at a weekly press briefing that he and Thai Prime Minister Srettha Thavisin agreed during a meeting on Monday that the two sides have good and close relations" and that they would promote more exchanges between their people. Lee's administration wants to expand the city's role in Southeast Asia to boost economic growth for the financial hub after years of COVID-19 restrictions. It aims to position the city as a bridge between mainland China and the international community. Lee said Hong Kong will work to deepen regional cooperation and strengthen its work on economic, trade and investment activities with countries in the Association of Southeast Asian Nations. Since 2010, ASEAN has been the second-largest trading

Clash between India and Canada threatens to hurt trade, investment

A proposed early-stage trade deal is in jeopardy, potentially hurting India's efforts to woo the West and serve as a supply-chain alternative to China