China and Russia emphasized the importance of strengthening their coordination in international forums such as the UN Security Council, SCO, Brics, G20, and APEC to promote mutual development and address global challenges. The two countries also discussed the Korean Peninsula and Iranian nuclear issue. China and Russia have a "no limits" partnership, which was declared during Putin's visit to Beijing in February 2022.
https://www.asiaone.com/world/russia-china-discuss-ukraine-war-and-ties-usSenator Ishaq Dar will lead a Pakistani delegation to the Shanghai Cooperation Organisation's Council of Foreign Ministers meeting in Tianjin, China from July 14-16, 2025. The meeting is co-chaired by Chinese Foreign Minister Wang Yi and will include representatives from Pakistan, China, Belarus, India, Iran, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan. This marks the first time Belarus' Foreign Minister will attend the Council of Foreign Ministers as a member of SCO. The meeting focuses on international relations and foreign policies of SCO, with decisions to be adopted by the Council of Heads of State.
https://www.brecorder.com/news/40372507/dar-to-attend-scos-cfms-in-china-todayThe EU is preparing to strengthen its ties with countries affected by US President Donald Trump's tariffs, including Canada and Japan, in response to ongoing trade disputes.
https://www.japantimes.co.jp/business/2025/07/14/economy/eu-nations-us-tariffs/The European Union threatened to impose tariffs on US goods worth around 100 billion euros ($117 billion), including cars and planes, if negotiations fail to reach an agreement. However, a diplomat suggested the finalised list may be lower at 72 billion euros.
https://www.hurriyetdailynews.com/eu-ministers-weigh-response-to-latest-trump-tariff-threat-211429European leaders are strengthening unity amidst growing political risks, with momentum towards single and financial market integration. This shift could make the euro more attractive. In contrast, a multipolar world is negatively impacting the US dollar, according to Marko Papic of BCA Research, who suggests that global investors are incorporating geopolitics into their asset allocations, but incorrectly treating it as an external factor rather than integrating it with valuation, growth and inflation considerations.
https://www.businesstimes.com.sg/wealth/wealth-investing/grasping-mettle-geopolitics-portfoliosGermany's Chancellor Friedrich Merz announced that his country is ready to purchase Patriot air defense systems from the US, with Norway financing one of the systems, to provide them to Ukraine. The offer includes a total of 10 systems needed by Ukraine to strengthen its air defense. Discussions between Germany and the US may also involve the presence of approximately 38,000 American soldiers stationed in Germany, which Trump had previously suggested reducing during his first term but later assured Merz would not be an issue.
https://www.fakti.bg/en/world/985781-pistorius-in-washington-germany-pushes-for-more-patriot-systems-for-ukraineDeputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar received a call from UN Secretary General António Guterres, reaffirming Pakistan's commitment to international peace and security and the pacific settlement of disputes. During Pakistan's presidency of the UN Security Council in July, the DPM/FM highlighted signature events being convened by Pakistan to advance these objectives.
https://www.brecorder.com/news/40372477/dar-receives-call-from-guterresThe International Monetary Fund's Resident Representative for Pakistan, Mahir Binici, recently delivered a comprehensive lecture at the Sustainable Development Policy Institute (SDPI), highlighting the evolving economic landscape in the Middle East and North Africa (MENA) region and Pakistan. Binici stated that growth in these regions is expected to strengthen by 2025, but warned of exceptional uncertainty due to elevated trade tensions and geopolitical fragmentation. He praised Pakistan's strong performance under the IMF's Extended Fund Facility, noting key milestones such as the successful completion of the first review in May 2025. Binici emphasized the importance of structural reforms, including tax equity, business climate improvement, and private-sector investment, to ensure long-term economic sustainability. The IMF's Resilience and Sustainability Facility (RSF) will support Pakistan's climate-related reforms, focusing on public investment planning, water resource management, disaster preparedness, and climate data transparency.
https://www.brecorder.com/news/40372540/imf-reaffirms-support-to-reform-agendaThe Indonesian-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) aims to enhance national competitiveness by offering tariff exemptions and strengthened cooperation standards. The agreement is expected to increase Indonesia's exports to Europe by more than 50% in the next 3-4 years, generating significant economic growth opportunities for manufacturing and labor-intensive industries. With IEU-CEPA, Indonesia is poised to strengthen its position in the region and globally, as it views itself as the anchor of the ASEAN economy and a strategic partner of the European Union. The agreement also mitigates risks from US market threats by redirecting export focus to Europe, allowing Indonesia to maintain its trade surplus with the EU.
https://en.tempo.co/read/2028006/ieu-cepa-to-provide-market-diversification-benefits-for-indonesian-products