Foreign trade state minister discusses strengthening trade, investment cooperation with US officials
WASHINGTON: Minister of State for Foreign Trade at the Ministry of Commerce and Industry HE Ahmed bin Mohammed Al Sayed has met with US Trade Representative (USTR) at the Office of the United States Trade Representative in Washington DC Jamieson Greer, as part of his official visit to the United States.
During the meeting, the two sides discussed bilateral trade and investment relations between the two countries and ways to develop them.
The discussions also touched on several topics of mutual interest and the latest global trade developments.
The Minister of State for Foreign Trade also held meetings with officials from the US Department of Commerce and representatives of leading American technology firms.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Qatar Tribune
2 days ago
- Qatar Tribune
Nippon Steel-US Steel deal closes with United States safeguards
Agencies Nippon Steel completed its multi-billion-dollar acquisition of US Steel on Wednesday, granting rare veto-like power over strategic decisions to Washington with a 'golden share'. The announcement concludes a saga that began in December 2023, when Nippon Steel agreed to acquire the linchpin of American steelmaking for $14.9 billion. An outright buyout sparked bipartisan political opposition, including from President Donald Trump, who railed against the proposed deal throughout the 2024 presidential campaign. But last month he announced a pivot, branding the revamped venture—blocked by former president Joe Biden on security grounds—as a 'partnership' rather than a takeover. A national security agreement between the companies and the US government provides that approximately $11 billion in new investments will be made by 2028. And Washington's non-economic golden share allows it to appoint one independent director as well as granting consent rights for proposed capital budget cuts among other powers. Nippon Steel CEO Eiji Hashimoto said Thursday in Tokyo that this 'won't hinder activities that we hope to conduct.' 'The agreement is fully satisfactory to us, as it ensures the management freedom... essential for business investment,' Hashimoto told reporters. 'We intend to start implementing measures for revitalization and development as soon as possible,' he said, promising not to 'transfer jobs and production sites elsewhere.' It is 'only natural' that the US government would be concerned about the takeover of a symbolic company, which dates back to 1901, Hashimoto added. A source close to the matter said Nippon Steel had bought all common shares of US Steel, completing the merger. The deal creates the world's fourth biggest steelmaker—but Nippon Steel faces several big challenges, from trade tariffs to weak demand for steel products worldwide. Nippon Steel shares were up 2.4 percent Thursday afternoon, even as Tokyo's benchmark Nikkei index slumped 0.9 percent. Pennsylvania Senator Dave McCormick, a Republican, thanked Trump on X and called the outcome 'a massive victory for working families in the Mon Valley, our economy, our national security, and America's manufacturing future!' But the United Steelworkers (USW) union, which vigorously fought the deal, vowed to 'continue watching, holding Nippon to its commitments,' according to a statement. 'We will use the most powerful tool workers have against global corporations: collective bargaining.' Biden had blocked the transaction in early January, shortly before leaving office. He said that placing 'one of America's largest steel producers under foreign control' could 'create risk for our national security and our critical supply chains.' Besides agreeing to keep US Steel's Pittsburgh headquarters and to maintain US production, the national security agreement calls for a majority of US Steel's board to be US citizens, as are key leaders including the CEO. The 'golden share' does not entitle the US government to dividends, nor does it require Washington to make investments in the company. While the structure gives the government 'extraordinary' influence, the mechanism could be difficult to enforce in a downturn if Nippon fails to comply, said Atlantic Council senior fellow Sarah Bauerle Danzman.
Qatar Tribune
2 days ago
- Qatar Tribune
US firms eye partnerships to tap European defence spending boom
Agencies Top U.S. defence firms, backed by a strong Congressional delegation from Washington, used this week's Paris Air Show to showcase cutting-edge technologies and court European partners as they seek to tap into rising regional military spending. Many European nations have pledged to significantly increase defence budgets in response to Russia's invasion of Ukraine and as U.S. President Donald Trump's administration has threatened to scale back military support for the region. That tension has been notably absent at this week's Paris Air Show, where U.S. lawmakers and arms manufacturers pledged greater transatlantic partnership as Europe ramps up spending on everything from artillery shells and fighter jets to missile defence systems. 'We understand that our allies and partners are a force multiplier, so we are stronger when we are working together,' U.S. Senator Jerry Moran, a member of Trump's Republican party, told reporters at the show, the world's largest aerospace and defence gathering. Moran, whose delegation was supporting U.S. weapons makers, said it was in Paris to send a message that the U.S. 'is a dependable and reliable partner.' The conciliatory tone stands in stark contrast to the Trump administration's recent string of disparaging remarks about Europe and its defence industry. 'I think antagonizing our allies does not make us stronger,' Democrat Senator Jeanne Shaheen told reporters in Paris, expressing her desire to cement defence relations with Europe. Despite pledges by many European nations to boost military self-sufficiency, the continent remains heavily reliant on U.S. defence manufacturers. For instance, Europe buys American-made fighter jets and missiles from Lockheed Martin, Patriot missile defence systems from Raytheon Technologies and military jets and helicopters built by Boeing. In emerging military areas, like artificial intelligence, drones and satellite constellations, U.S. tech firms like Anduril, Palantir and Elon Musk's SpaceX are far ahead. U.S. firms are hoping to press home their advantage as European military spending surges, including through partnerships, which are a way to soften any potential diplomatic tensions, delegates said. U.S. drone-maker Anduril and German defence giant Rheinmetall said on Wednesday they will link up to build military drones for European markets, in a sign of Europe leveraging American technology to boost military capabilities. Thomas Laliberty, president of Land & Air Defence Systems at Raytheon, said there were no easy replacements for its weapons in Europe and he expected the firm to maintain a long-term footprint on the continent, including through new partnerships. Laliberty said Raytheon was close to announcing a plan to manufacture Stingers – a lightweight air defence missile used by Ukrainian forces against Russia – in Europe. 'For immediate needs, Raytheon is well-positioned to support the European demand,' Laliberty told reporters in Paris. 'We have a very bright future here.' Boeing, which won a contract from Trump's administration to develop the next-generation F-47 fighter jet this year, said Europe and the U.S. would remain long-term partners despite political wobbles, partly to hold off the Chinese threat. 'Nobody can do it themselves – maybe the Chinese can try, but certainly the rest of us, we are going to have to work together,' said Turbo Sjogren, Boeing's general manager for government services. 'To do otherwise takes too long and will be unaffordable.' The chairperson of Italian aerospace and defence group Leonardo, Stefano Pontecorvo, added that U.S. participation in some European programs would be 'unavoidable' in the coming years due to the defence technologies available to rivals were bullish about their future growth prospects but said budget constraints and a lack of regional alliances were holding back progress, conceding that they would continue to need significant U.S. support. 'National sovereignty matters, but fragmentation is detrimental. We need to find a way to hit a balance,' Leonardo CEO Roberto Cingolani told reporters on Tuesday. Jean-Brice Dumont, head of air power, defence and space at Airbus, said Europe's dependence on the U.S. was 'very high.' 'Zero dependency on the U.S. I believe, is a dream. We have a need for interoperability that drives some U.S. needs,' said Dumont, whose firm makes the Eurofighter Typhoon fighter jet with Britain's BAE Systems and Italy's Leonardo, as well as Earth observation satellites and drones. Italian Defence Minister Guido Crosetto said Europe had 'too much bureaucracy' compared to the U.S. and needed to adapt to a new military era of faster, cheaper and more nimble technology. 'Either Europe adapts its industry to these new parameters – different from those with which it has lived until four years ago – or it will have huge competitors, and not only the American ones,' he said.
Qatar Tribune
3 days ago
- Qatar Tribune
QatarEnergy wins onshore exploration licence in Algeria
Tribune News Network Doha QatarEnergy has won an onshore exploration license in the People's Democratic Republic of Algeria as part of the 'Algeria Bid Round 2024', marking its first entry into Algeria's upstream sector. The results of the competitive bid process were announced by The National Agency for the Valorization of Hydrocarbon Resources, awarding exploration and production rights for the onshore Ahara Block to a consortium comprising of QatarEnergy with an effective interest of 24.5 percent, TotalEnergies (the operator during the exploration phase) with an effective interest of 24.5 percent, and Algeria's national state-owned oil company 'Sonatrach' with an effective interest of 51percent. Commenting on this award, Minister of State for Energy Affairs, President and CEO of QatarEnergy HE Saad Sherida Al Kaabi said, 'We are delighted to be awarded the Ahara Block, which marks our first entry into Algeria's upstream sector and further and expands our footprint in Africa.' Al Kaabi added, 'I would like to take this opportunity to congratulate and thank the Algerian Ministry of Energy, Mines, and Renewable Energies and ALNAFT on the successful management of this bid round. We look forward to a successful and collaborative exploration endeavor with the Ministry alongside ALNAFT, Sonatrach, andTotalEnergies.' Located in eastern Algeria at the intersection of the prolific Berkine and Illizi Basins, the Ahara Block covers an area of approximately 14,900 km².
