India, UAE discuss possibility of launching virtual trade corridor: The 11th meeting of the UAE-India High Level Joint Task Force on Investments saw officials from the two countries discuss the Abu Dhabi-India Virtual Trade Corridor, which seeks to boost trade volumes by creating data exchange systems that streamline paperless trade between the two nations, Wam reports. The meeting, co-chaired by the UAE’s President Mohamed bin Zayed Al Nahyan and India’s Commerce Minister Piyush Goyal, also reviewed the progress of the Comprehensive Economic Partnership Agreement (CEPA) implemented in May 2022.

KSA, India to work on clean energy supply chain: Saudi Arabia has inked with India an MoU in green hydrogen, supply chains, and electrical interconnection between the two countries, a statement by Saudi Arabia’s Energy Ministry read. The MoU was signed by Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman and Indian counterpart Raj Kumar Singh during the MENA Climate Week in Riyadh. The MoU aims to set up a framework for the co-production of green hydrogen and renewable energy in both nations. It aims to establish a solid and secure supply chain for materials used in both sectors, according to SPA.

Iran + Iraq’s Kurdistan government to enhance trade: Iran and the Iraqi Kurdistan Regional Government (KRG) are set to boost trade cooperation between them, Tasnim news agency reported, citing secretary of Iran’s Supreme Council of Trade-industrial and Special Economic Zone Hojjatollah Abdolmaleki. Investors from the Iraqi Kurdistan region visited Iran’s freetrade-industrial and special economic zones, where they discussed establishing joint freezones to boost trade, Abdolmaleki said.

Algeria and Tunisia have signed 26 cooperation agreements spanning sectors including trade and transportation, Telesur reports. The agreements were signed during the 22nd Grand Joint Commission for Cooperation held in Algiers, which was co-chaired by Algeria’s Prime Minister Aymen Benabderrahmane and his Tunisian counterpart Ahmed Hachani.

Saudi Economy Minister Faisal bin Fadel Al Ibrahim discussed bolstering trade and aviation ties during visits to Austria and Portugal, according to a ministry statement.In Austria, he discussed enhancing collaboration in several sectors including trade with the Austrian Industries Federation, a key representative of the country's manufacturing sector.

I n Portugal, Al Ibrahim, representing the Saudi transport minister, inked an air transport services agreement with Portugal’s Infrastructure Ministry on the sidelines of a Saudi-Portuguese Joint Committee meeting, according to a separate ministry statement. The agreement aims to pave the way for organized international air services that prioritize safety and security, bolster trade relations, and foster economic growth in both nations.

ALSO WORTH KNOWING-

  • Qatar’s Minister of State and Cha irman of Qatar Freezones Authority (QFZ)Ahmad Al Sayed discussed with Advisor of the Iranian President and Secretary of the Supreme Council of Trade-Industrial and Special Economic Zones of Iran Hojatullah Abdolmaleki ways to boost cooperation and exchange know-how on freezones and investments. (Statement)
  • Qatar’s Transport Minister Jassim Saif Ahmed Al Sulaiti met with Iran’s Economic Di plomacy Foreign Minister Mahdi Safari to discuss enhancing transport ties. (QNA)
  • Iran’s Minister of Road and Urban D evelopment Mehrdad Bazrpash and Azerbaijan’s Minister of Transport, Communications, and High Technologies Rashad Nabiyev met in Azerbaijan to discuss boosting cooperation on cross-border transport and forming a committee to oversee joint transport projects. (IRNA)
  • UAE Minister of State for F oreign Trade Thani bin Ahmed Al Zeyoudi held roundtable discussions with Malaysia’s Prime Minister and ministry officials to explore avenues for cooperation on trade, investment, and industrial development. (Wam)
Tags: