{"id":72228,"date":"2023-07-24T00:00:00","date_gmt":"2023-07-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/07\/24\/algeria-eyes-brics-membership-turkey-uae-ink-usd-50-bn-agreements-plus-ksa-iran-sever-ties-with-sweden-and-news-from-bahrain-and-the-us-iran-and-brazil-egypt-and-indonesia-syria-and-iraq-an\/"},"modified":"2023-07-24T00:00:00","modified_gmt":"2023-07-24T00:00:00","slug":"algeria-eyes-brics-membership-turkey-uae-ink-usd-50-bn-agreements-plus-ksa-iran-sever-ties-with-sweden-and-news-from-bahrain-and-the-us-iran-and-brazil-egypt-and-indonesia-syria-and-iraq-an","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/07\/24\/algeria-eyes-brics-membership-turkey-uae-ink-usd-50-bn-agreements-plus-ksa-iran-sever-ties-with-sweden-and-news-from-bahrain-and-the-us-iran-and-brazil-egypt-and-indonesia-syria-and-iraq-an\/","title":{"rendered":"Algeria eyes BRICS membership + Turkey, UAE ink USD 50 bn agreements. PLUS: KSA, Iran sever ties with Sweden, and news from Bahrain and the US, Iran and Brazil, Egypt and Indonesia, Syria and Iraq, and Qatar and Turkey"},"content":{"rendered":"

<\/span>Algeria has formally applied to join the BRICS group<\/span>with a contribution of USD 1.5 <\/span>bn, Ennahar TV quoted Algerian President Abdelmadjid Tebboune as saying, <\/span>Reuters<\/a><\/span>reports. The country aims to access new economic opportunities through this move, Tebboune said, adding that Algeria seeks to diversify its economy and strengthen ties with nations like China. Several countries from the region have been looking to join BRICS \u2014 which consists of Russia, Brazil, India, China and South Africa in recent months, including the UAE, Egypt and Saudi Arabia. <\/span><\/p>\n

China is also planning to invest USD 36 bn in Algeria<\/span>, in sectors including manufacturing, new technology, the knowledge economy, transport, and agriculture, Reuters added. <\/span><\/p>\n

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Turkey + UAE inked several multi-bn-USD agreements to expand trade + economic <\/span>ties: <\/span>The agreements, estimated to be worth around <\/span>USD 50.7 bn<\/span>, include the establishment of a joint economic and trade commission, commitments to develop energy and natural resources projects, and an extradition pact, <\/span>WAM<\/a><\/span> reports. The agreements signify the strengthening of ties between the two regional powers, which had been at odds for the larger part of the last decade. <\/span><\/p>\n

<\/span>Saudi Arabia +<\/span>Iran cut off diplomatic channels with Sweden over Quran <\/span>desecration: <\/span>Iran and Saudi Arabia have both summoned their ambassadors to Sweden following protests in the country that have seen the desecration of the Quran, the countries said in separate statements (<\/span>here<\/a><\/span> and <\/span>here<\/a><\/span>). Iran said it will not accept the new Swedish ambassador who was set to arrive in Tehran over the next few days, while Saudi Arabia handed Sweden a protest note demanding the country puts an end to<\/span> \u201cdisgraceful acts that violate religious teachings, int\u2019l laws and norms,\" the foreign ministry said. <\/span><\/p>\n

Bahrain and the US discussed building on the US-Bahrain Freetrade Agreement <\/span>during the strategic dialogue held between both countries on Wednesday<\/span>, <\/span>Bahrain News Agency<\/a><\/span> reports. Bahrain\u2019s Foreign Affairs Minister <\/span>Abdullatif bin Rashid Al Zayani and Secretary of State Antony J. Blinken discussed boosting economic ties, and confirmed their commitment to freedom of navigation in international waters and ensuring safe passage for commercial shipping. <\/span><\/p>\n

ALSO WORTH KNOWING-<\/span><\/p>\n