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Time Business News
29 minutes ago
- Business
- Time Business News
New Diplomatic Chapter Begins: China, Pakistan, Bangladesh Launch First Trilateral Ministerial Dialogue
In a landmark diplomatic development, the foreign secretaries of China, Pakistan, and Bangladesh convened in Kunming, Yunnan Province on June 19–20 for the first-ever trilateral ministerial dialogue . This strategic meeting marked the formal initiation of a three-way framework to deepen cooperation in blue economy, climate change resilience, trade, connectivity, and regional peacebuilding. The Chinese delegation was led by Vice Foreign Minister Sun Weidong, while Bangladesh was represented by Foreign Secretary Ruhul Alam Siddique. Pakistan was represented by Additional Secretary for Asia-Pacific Affairs Imran Ahmed Siddiqui with Foreign Secretary Amna Baloch joining virtually in the initial session. In a joint statement, all three parties reaffirmed their commitment to fostering a 'good-neighborly, equal, and inclusive partnership' aimed at common development, sustainable growth, and mutual prosperity across South and East Asia. Maritime Economy: Emphasis on sustainable fisheries, port development, shipping collaboration, and blue economy innovation. Emphasis on sustainable fisheries, port development, shipping collaboration, and blue economy innovation. Climate Cooperation: Joint efforts on flood management, renewable energy research, carbon emission control, and coastal resilience building. Joint efforts on flood management, renewable energy research, carbon emission control, and coastal resilience building. Trade and Connectivity: Expansion of regional value chains, cross-border e-commerce platforms, and infrastructure under the Belt and Road Initiative (BRI). Expansion of regional value chains, cross-border e-commerce platforms, and infrastructure under the Belt and Road Initiative (BRI). Youth & Education: Scholarships, student exchanges, and trilateral think-tank networks to promote knowledge sharing. Scholarships, student exchanges, and trilateral think-tank networks to promote knowledge sharing. Health and Agriculture: Development of food safety standards, public health cooperation, and green farming initiatives. To ensure the implementation of these objectives, a dedicated Working Group is set to be formed, responsible for overseeing action plans and facilitating ongoing cooperation. Analysts interpret this trilateral initiative as a reflection of shifting power dynamics in Asia. The framework aligns with China's vision of regional integration through its Belt and Road Initiative, while also offering Bangladesh and Pakistan a platform for mutual development without being caught in regional rivalries. Importantly, all three sides reiterated that this cooperation is 'non-exclusive and not aimed against any third party,' signaling a desire to maintain strategic neutrality while enhancing regional diplomacy. The Kunming dialogue represents more than just a diplomatic gathering — it signals the beginning of a new trilateral era where shared challenges like climate change, maritime instability, and development disparities are addressed collectively. As the working group moves forward, observers are keen to see how these nations translate dialogue into durable policy frameworks. For Bangladesh, this platform opens doors to both regional influence and economic opportunity, particularly in the maritime and climate sectors, where cooperation is both urgent and essential. Source: Ministry of Foreign Affairs (China), The Economic Times, Business Standard, Anadolu Agency TIME BUSINESS NEWS
Gulf Today
34 minutes ago
- Business
- Gulf Today
Europe's lithium quest hampered by China and lack of cash
Alvaro Villalobos, Agence France-Presse Europe's ambition to be a world player in decarbonised transportation arguably depends on sourcing lithium abroad, especially in South America. Even the bloc's broader energy security and climate goals could depend on securing a steady supply of the key mineral, used in batteries and other clean energy supply chains. But Europe has run into a trio of obstacles: lack of money, double-edged regulations and competition from China, analysts said. China has a major head start. It currently produces more than three-quarters of batteries sold worldwide, refines 70 per cent of raw lithium and is the world's third-largest extractor behind Australia and Chile, according to 2024 data from the United States Geological Survey. To gain a foothold, Europe has developed a regulatory framework that emphasises environmental preservation, quality job creation and cooperation with local communities. It has also signed bilateral agreements with about 15 countries, including Chile and Argentina, the world's fifth-largest lithium producer. But too often it fails to deliver when it comes to investment, say experts. "I see a lot of memoranda of understanding, but there is a lack of action," Julia Poliscanova, director of electric vehicles at the Transport and Environment (T&E) think tank, told AFP. "More than once, on the day that we signed another MoU, the Chinese were buying an entire mine in the same country." The investment gap is huge: China spent $6 billion on lithium projects abroad from 2020 to 2023, while Europe barely coughed up a billion dollars over the same period, according to data compiled by T&E. At the same time, the bottleneck in supply has tightened: last year saw a 30 per cent increase in global demand for lithium, according to a recent report from the International Energy Agency (IEA). "To secure the supply of raw materials, China is actively investing in mines abroad through state-owned companies with political support from the government," the IEA noted. China's Belt and Road Initiative funnelled $21.4 billion into mining beyond its shores in 2024, according to the report. Europe, meanwhile, is "lagging behind in investment levels in these areas", said Sebastian Galarza, founder of the Centre for Sustainable Mobility in Santiago, Chile. "The lack of a clear path for developing Europe's battery and mining industries means that gap will be filled by other actors." In Africa, for example, Chinese demand has propelled Zimbabwe to become the fourth-largest lithium producer in the world. "The Chinese let their money do the talking," said Theo Acheampong, an analyst at the European Council on Foreign Relations. By 2035, all new cars and vans sold in the European Union must produce zero carbon emissions, and EU leaders and industry would like as much as possible of that market share to be sourced locally. Last year, just over 20 percent of new vehicles sold in the bloc were electric. "Currently, only four percent of Chile's lithium goes to Europe," noted Stefan Debruyne, director of external affairs at Chilean private mining company SQM. "The EU has every opportunity to increase its share of the battery industry." Shifting supply chains But Europe's plans to build dozens of battery factories have been hampered by fluctuating consumer demand and competition from Japan (Panasonic), South Korea (LG Energy Solution, Samsung) and, above all, China (CATL, BYD). The key to locking down long-term lithium supply is closer ties in the so-called "lithium triangle" formed by Chile, Argentina and Bolivia, which account for nearly half of the world's reserves, analysts say. To encourage cooperation with these countries, European actors have proposed development pathways that would help establish electric battery production in Latin America. Draft EU regulations would allow Latin America to "reconcile local development with the export of these raw materials, and not fall into a purely extractive cycle", said Juan Vazquez, deputy head for Latin America and the Caribbean at the OECD Development Centre. But it is still unclear whether helping exporting countries develop complete supply chains makes economic sense, or will ultimately tilt in Europe's favour. "What interest do you have as a company in setting up in Chile to produce cathodes, batteries or more sophisticated materials if you don't have a local or regional market to supply?" said Galarza. "Why not just take the lithium, refine it and do everything in China and send the battery back to us?" Pointing to the automotive tradition in Mexico, Brazil and Argentina, Galarza suggested an answer. "We must push quickly towards the electrification of transport in the region so we can share in the benefits of the energy transition," he argued. But the road ahead looks long. Electric vehicles were only two percent of new car sales in Mexico and Chile last year, six percent in Brazil and seven percent in Colombia, according to the IEA. The small nation of Costa Rica stood out as the only nation in the region where EVs hit double digits, at 15 percent of new car sales.
The Print
4 hours ago
- Business
- The Print
Beijing hosts 1st Pakistan-China-Bangladesh trilateral, says ‘not directed at any third party'
According to official statements from both the Pakistani and Chinese foreign ministries, the three countries committed to deepening ties through 'mutual trust and good-neighborly principles'. A working group will be established to implement cooperation projects and follow up on the agreements reached. The high-level meeting was co-chaired by Chinese Vice Foreign Minister Sun Weidong, Acting Foreign Secretary of Bangladesh Ruhul Alam Siddique, and Pakistan's Foreign Secretary Amna Baloch, who participated virtually. New Delhi: Beijing Wednesday hosted the first ever trilateral meeting between Bangladesh, China and Pakistan in Kunming city in the Chinese province of Yunnan. In a statement issued later, the Chinese foreign ministry said, in an apparent reference to India, the 'three sides emphasized that China-Bangladesh-Pakistan cooperation adheres to true multilateralism and open regionalism, not directed at any third party'. Details of the agreements reached are still unclear at this point. The discussions focused on strengthening trilateral collaboration across a range of sectors, including trade and investment, agriculture, digital economy, marine sciences, environmental protection, education, green infrastructure, and people-to-people exchanges. 'The Foreign Secretary expressed Pakistan's desire for a deeper engagement between China and South Asian countries. Expressing satisfaction at the upward trajectory of bilateral ties, the Foreign Secretary conveyed Pakistan's readiness to work with China and Bangladesh to enhance ties in trade and investment, agriculture, digital economy,' said the readout issued by the Pakistan foreign ministry. China's role as convenor of this trilateral format also signals Beijing's intent to reshape regional order through alternative multilateral formats to counterbalance India's influence in the region and advance its Belt and Road Initiative (BRI) and regional influence with more flexible, cooperative frameworks. 'Sun Weidong stated that the Chinese government is committed to building a community with a shared future with neighboring countries. Bangladesh and Pakistan are both good neighbors, good friends, and good partners of China, and important partners in high quality Belt and Road cooperation. As significant members of the Global South and key countries in the region, all three countries face the mission of national revitalization and modernization, and all require a peaceful and stable environment. Cooperation among China, Pakistan and Bangladesh aligns with the common interests of the three peoples, and can contribute to regional peace, stability, development and prosperity,' the Chinese foreign ministry said. The meeting comes amid a significant realignment in South Asian geopolitics. Bangladesh and Pakistan resumed high-level engagements in April, after a 15-year diplomatic freeze. The two countries held a Foreign Office Consultation (FOC) earlier this year. A Bangladeshi military delegation also made a rare visit to Pakistan in January, meeting with Pakistan Army Chief General Asim Munir, while Bangladesh's Navy participated in a Pakistani-led maritime exercise off the coast of Karachi in February. These moves come as Dhaka's interim administration, led by Muhammad Yunus, takes a more open stance towards Pakistan, in contrast with the historically tense ties under former Prime Minister Sheikh Hasina. Yunus has criticized India for harbouring Hasina and has formally requested her extradition—a request to which India has yet to formally respond. Meanwhile, Bangladesh's Foreign Secretary Jashim Uddin in April met with his Pakistani counterpart and raised long-standing grievances, including a demand for a formal apology from Pakistan for the 1971 war atrocities during Bangladesh's independence struggle. In a broader diplomatic context, Sun also held bilateral meetings on the sidelines of the trilateral meeting in Kunming, including with Afghanistan's Acting Deputy Prime Minister Haji Mawlawi Abdul Salam Hanafi. (Edited by Amrtansh Arora) Also Read: New Delhi-Dhaka must reimagine ties as 'strategic necessity for collective growth'—Bangladesh envoy
Express Tribune
7 hours ago
- Business
- Express Tribune
Pak-China dialogue: Soft power vital to counter disinfo, says Mushahid
Listen to article Leaders, diplomats, parliamentarians, students and scholars gathered at the Pakistan-China Dialogue hosted by Pakistan-China Institute (PCI) under 'Friends of Silk Road' auspices, focused on 'Strengthening Mutual Understanding Between Pakistan and China and Building a Community with a Shared Future for Neighbouring Countries.' Speakers celebrated the enduring 'Iron Brothers' partnership, championed a multipolar order based on the UN Charter, and highlighted President Xi Jinping's Belt and Road Initiative (BRI) as a catalyst for peace, prosperity and regional connectivity. The Dialogue was organised by Pakistan-China Institute together with a visiting high-level 5-man delegation from the Communist Party of China's International Department (IDCPC) led by IDCPC Spokesperson & Chief of Information, Ambassador Hu Zhaoming. Mustafa Hyder Sayed, PCI Executive Director and Dialogue Moderator, opened the proceedings by noting that the historic Silk Road friendship between Pakistan and China has never been transactional or tactical; rather, it is rooted in shared history, trust and a common commitment to uplift the wider neighborhood.' He framed the Dialogue as part of PCI's broader effort to amplify voices from Asia and the Global South, given the changing global scenario. Pointing to escalating Cold War rhetoric, he condemned the newly created US Congress's 'Countering PRC Influence Fund, 'which authorizes US$325 million per year from 2023 to 2027 to counter the malign influence of the Chinese Communist Party and the Government of the People's Republic of China, worldwide. Mustafa called the measure 'a Cold-War-era throwback that diverts resources from development and dialogue, precisely the opposite of what our region needs.' Delivering the Keynote Address, Senator Mushahid Hussain Sayed, Chairman of PCI, observed that the 'global balance of economic and political power is shifting from West to East, heralding the Asian Century.' He lauded China's 'peaceful rise as a source of strength for developing nations across Asia, Africa and Latin America', and thanked Beijing for its unwavering support of Pakistan's territorial integrity and sovereignty, especially last month in the face of Indian aggression. Mushahid termed 'Pakistani talent and Chinese technology an invincible wall for peace, security and stability in South Asia. Condemning recent Israeli strikes on Iranian territory, the Senator called the attacks a flagrant violation of International Law and the UN Charter, and rejected narratives promoting a 'new Cold War or so-called China threat.' 'Security is preserved through cooperation, not military blocs, or demonising countries through disinformation', he stressed. Ambassador Hu Zhaoming, Spokesperson of the International Department of the Communist Party of China (IDCPC), described Pakistan as 'etched in the deepest hearts of the Chinese people,' adding, 'China and Pakistan are like two sides of the same coin—you cannot choose one without the other.' Highlighting the BRI's evolution since 2013, Ambassador Hu noted that over 150 countries now participate in the initiative, which uniquely 'promotes China's inland development while fostering global connectivity.' He urged younger generations to 'carry the torch of friendship forward.' Speaking for the Government of Pakistan, Dr Shezra Mansab Ali Kharal, Minister of State for Climate Change, argued that the current world order is 'visibly fragmenting,' while China consistently advocates multipolarity, non-intervention and equality among states. 'The BRI embodies this vision,' she said, 'fostering a network of interdependent economies that choose dialogue over conflict.' Former Foreign Secretary Ambassador Aizaz Ahmad Chaudhry echoed the call for cooperative paradigms during what he called 'a time of flux where wars erupt and rules collapse. 'President Xi Jinping's philosophy of 'win-win cooperation and mutual respect,' he said, offers 'the most promising foundation for a future world order when the dust settles.' From the legal perspective, Barrister Aqeel Malik, Minister of State for Law and Justice, emphasized that 'security and stability are paramount' for CPEC's success. He championed 'soft-power bridges' such as expanded regional-language media—including Balochi language broadcasts—to deepen people-to-people ties. Malik also proposed Afghanistan's inclusion in CPEC, calling it 'a natural extension of the shared-future vision.' The event was also attended by students and scholars from all the provinces, representing different universities, media, think tanks, as well as representatives of Chinese companies working on CPEC projects. Concrete proposals to jointly promote Pakistan-China 'Soft Power' were discussed, together with some upcoming events and conferences in this regard in China.
Arab News
8 hours ago
- Business
- Arab News
Pakistan, China, Bangladesh agree to enhance cooperation in trade, investment and maritime affairs
ISLAMABAD: Senior officials of Pakistan, Bangladesh and China on Friday vowed to enhance trilateral cooperation in various sectors such as trade, investment, health, education, maritime affairs and others, the Chinese foreign ministry said. Pakistan and Bangladesh are both part of China's ambitious Belt and Road Initiative (BRI) which aims to connect Asia, Africa and Europe. China envisions the BRI to be a global network of roads, railways, ports, energy pipelines and trade corridors that strengthens Beijing's trade ties with other regions for the benefit of its economy. Pakistan and China are historic allies while strained ties between Islamabad and Dhaka have started to improve since the ouster of former Bangladesh PM Sheikh Hasina last year. The China-Pakistan-Bangladesh Trilateral Vice Foreign Minister/Foreign Secretary meeting was held in Kunming, Yunnan on Thursday, to discuss cooperation in various sectors between the three countries. The meeting was attended by Chinese Vice Foreign Minister Sun Weidong, Bangladeshi Acting Foreign Secretary Ruhul Alam Siddique and Pakistani Additional Secretary (Asia Pacific) Imran Ahmed Siddiqui. Pakistan's Foreign Secretary Amna Baloch participated in the first phase of the meeting via video link. 'The three sides agreed to explore and implement cooperation projects in such areas as industry, trade, maritime affairs, water resources, climate change, agriculture, human resources, think tanks, health, education, culture, and youth,' the Chinese foreign ministry said. The statement said Pakistan, Bangladesh and China will establish a working group to follow up and implement the understandings reached during the meeting on Thursday. The three sides emphasized that China-Bangladesh-Pakistan cooperation adheres to true multilateralism and open regionalism, not directed at any third party, it added. Pakistan's foreign office said Baloch conveyed Islamabad's readiness to work with China and Bangladesh to enhance ties in trade and investment, agriculture, digital economy, environment protection, marine sciences, green infrastructure, culture, education and people-to-people exchanges. 'The three sides agreed that trilateral cooperation would be guided by the principles of openness, inclusivity, good neighborliness, mutual respect and trust, while working toward win-win cooperation,' Pakistan's foreign office said. Pakistan has recently eyed closer cooperation in trade and investment with regional allies as it grapples with a macroeconomic crisis that has drained its financial resources, significantly weakened its currency and triggered a balance of payments crisis for the South Asian country. Prime Minister Shehbaz Sharif has repeatedly spoken about his government's intention to enter 'mutually beneficial' partnerships with allies as opposed to seeking loans from them. In recent months Pakistan has signed memoranda of understanding with allies such as Saudi Arabia, China, United Arab Emirates, Azerbaijan, Turkiye and others worth billions of dollars.
