The inaugural UAE-China Joint Investment and Economic Cooperation Working Group meeting significantly strengthened economic ties between the two nations. The meeting focused on boosting collaboration in tourism, logistics, green development, and the digital economy, with bilateral trade exceeding USD 42.4 billion in the first half of 2024. The UAE invited Chinese businesses to explore investment opportunities, aiming to deepen their strategic partnership.
India and the EU are pushing forward with negotiations for a comprehensive free trade agreement (FTA), aiming for a balanced deal that addresses mutual sensitivities and unlocks significant economic benefits. Recent talks highlighted progress, but key issues remain, underscoring the need for political will to achieve a commercially meaningful agreement.
Union Minister Piyush Goyal urged France and India’s Asia-Pacific partners to bolster trade relations, accelerate technological collaboration to address global challenges like climate change, and expand defense partnerships. He highlighted the significant growth potential in India-France bilateral trade and investment, emphasizing the shared democratic values and mutual benefits of a strengthened relationship.
In a significant development aimed at strengthening ties between India and the Maldives, plans are underway to introduce the RuPay payment service in the Maldives. The exact launch date is yet to be announced, but discussions are ongoing to explore avenues for facilitating payments in Indian rupees. RuPay, India’s indigenous card payment network, is widely accepted across the country and its implementation in the Maldives is expected to bolster the Maldivian Rufiyaa and promote bilateral trade and tourism. The Maldivian government has expressed its commitment to addressing the issue of dollar dependence and reinforcing the local currency. India and China have also agreed to cooperate in settling import payments in their respective currencies, offering the Maldives potential savings in foreign exchange reserves.
