Prime Minister Shehbaz Sharif met with President Sheikh Mohammed bin Zayed Al Nahyan in Rahim Yar Khan, where they discussed economic and political ties, including cooperation in sectors such as renewable energy, technology, trade, infrastructure, and skill development. The UAE president expressed interest in collaborating with Pakistan in the mining, minerals, and agriculture sectors, while PM Shehbaz thanked the UAE for its support during critical times, particularly in humanitarian assistance and development aid. Both leaders reaffirmed their commitment to peace and progress in the region and vowed to work closely on matters of mutual interest, including a proposed free trade agreement between the two countries.
South Korean Industry Minister Ahn Duk-geun is set to visit the United States this week to discuss bilateral economic ties with business and government officials in the US state of Georgia. The visit comes ahead of the launch of the second Donald Trump administration, which suggests that the trip may be aimed at strengthening economic relations between South Korea and the US under the new administration.
https://www.lokmattimes.com/business/south-korean-industry-minister-to-visit-us-for-broader-bilateral-economic-ties/The UK government imposed sanctions on 20 tankers transporting Russian oil in December, while also announcing aid to Ukraine to repair its energy infrastructure damaged by Russian attacks. This move follows a November announcement from the US Treasury Department that added Gazprombank and dozens of other financial institutions to a list of sanctioned entities as part of G7 agreements targeting Russia.
https://www.ukrinform.net/rubric-economy/3945301-ukraines-top-diplomat-pushes-for-strengthening-russia-sanctions.htmlThe UK has agreed to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a major trade bloc in the Indo-Pacific region. The deal, which will make the UK its 12th member, is expected to grant British businesses improved access to markets from Europe to the south Pacific, supporting jobs and creating opportunities for companies of all sizes across the country. With a total GDP of $13.65 trillion and over 500 million people, the trade bloc accounts for 15% of global GDP. The agreement was welcomed by Business and Trade Secretary Kemi Badenoch, who said it will provide British businesses with improved access to the wider Indo-Pacific region, which is projected to drive future global growth.
https://www.lokmattimes.com/politics/uk-agrees-to-join-trans-pacific-trade-pact/Uzbekistan's ambassador to Pakistan emphasized the growing economic cooperation between the two nations, citing a significant increase in mutual trade from $122 million in 2019 to $387 million in 2023. The ambassador highlighted opportunities for collaboration in sectors such as textiles, pharmaceuticals, and agribusiness, and announced plans for a "Made in Uzbekistan" industrial exhibition in Karachi later this year. He also invited a delegation from the Karachi Chamber of Commerce and Industry (KCCI) to visit Uzbekistan to explore investment opportunities in regions such as Bukhara, Sirdarya, Surkhondarya, and Kashkadarya. The ambassador assured full support for government-to-business and business-to-business meetings during such visits, citing Uzbekistan's safe, conducive, and liberal environment for investment.
https://www.thenews.com.pk/latest/1268940-uzbekistan-announces-plans-to-launch-direct-flights-to-karachiChina has established cooperation mechanisms with 17 Indian Ocean region countries, including Seychelles, Pakistan, and the Maldives, in areas such as remote sensing, maritime monitoring, biodiversity, and disaster reduction. The country is promoting its vision for ocean-based economic development through initiatives like the "Maritime Community with a Shared Future", which includes projects such as low-carbon demonstration zones, early warning systems for climate-induced disasters, and joint development of marine new energy and deep-sea resource exploration.
https://www.firstpost.com/opinion/chinas-indian-ocean-region-strategy-soft-power-strong-gains-13849797.htmlThe Punjab Information Technology Board (PITB) has partnered with the UK-Pakistan Trade and Investment Board (UKPTIB) to promote innovation and economic growth in Pakistan. The Memorandum of Understanding (MoU), signed by PITB Director General Sajid Latif and UKPTIB Chairman Rizwan Sulehria, aims to boost business activities, attract foreign investment, and create innovative solutions for economic growth. This partnership is expected to fortify economic ties with the UK and Europe, enhance collaboration in technology-driven initiatives, and showcase Pakistan's potential as a global technology hub. The agreement also seeks to create opportunities for young talent in the Information and Communication Technology (ICT) sector, ultimately fostering a dynamic ecosystem for sustainable growth in the tech industry.
https://www.brecorder.com/news/40341090/pitb-signs-mou-with-ukptibThe Uzbek Ambassador announced a soft visa regime for Pakistani citizens starting in September 2024, allowing easier travel between the two nations. The initiative aims to boost economic cooperation and strategic partnerships, with a focus on sectors such as textiles, pharmaceuticals, leather, food processing, agro-businesses, and other industries. The ambassador invited Pakistani businessmen to explore investment opportunities in Uzbekistan's favourable environment, which is considered safe, conducive, and liberal. He also encouraged the Karachi Chamber of Commerce and Industry (KCCI) to send a business delegation to Uzbekistan to strengthen cooperation and facilitate government-to-business and business-to-business meetings.
https://www.thenews.com.pk/print/1268359-uzbek-ambassador-aims-to-boost-bilateral-trade-to-1bnManfred Weber, leader of the European People's Party in the European Parliament, has warned that the EU should prepare for potential US import tariffs by imposing its own tariffs on US digital companies. This comes as Republican Donald Trump is set to be inaugurated as the 47th US president and has announced plans to impose 20% tariffs on European products. Weber believes that the EU's economic size and capabilities make it capable of countering such measures, particularly in areas where American digital companies earn significant revenue but pay minimal taxes. He emphasized that the EU does not want a trade war, which would weaken the West against China, and instead proposes an "economic NATO" to present a united front against China.
https://www.malaymail.com/news/money/2025/01/04/eu-conservative-leader-calls-for-counter-tariffs-on-us-tech-giants-if-trump-imposes-new-trade-barriers/162058