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India Gazette
an hour ago
- Business
- India Gazette
Piyush Goyal's statement on India ASEAN Trade is unwarranted, says former Union Minister Anand Sharma
ANI 20 Jun 2025, 15:09 GMT+10 New Delhi [India], June 20 (ANI): Former Union Commerce & Industry Minister of India, Anand Sharma, on Friday said in a statement that the statement by Commerce Minister Piyush Goyal on 'belittling India ASEAN Trade Agreements is unwarranted, ill-advised and unfortunate.' Anand Sharma believes that both India and ASEAN has been together for three decades engaged in a multifaceted relationship which is mutually rewarding and the Association of Southeast Asian Nations, is a regional bloc of ten Southeast Asian countries. Formed in 1967, its primary goals are to foster economic growth, social progress, and cultural development, while also promoting regional peace and further believes that this relationship is important for 'Look East policy to deepen and diversify India's relations with a region that is economically vibrant and of enormous geo-strategic importance for engagement with the Asia-Pacific region.''Piyush Goyal's statement terming the Trade agreement with ASEAN as silly and labelling these counties as B team of China is irresponsible and insulting. He has forgotten, that President of Indonesia Prabowo Subianto was the chief guest for 2025 Republic Day Parade,' Anand Sharma said. The former Union Minster in his statement also emphasized that, 'trade in goods with ASEAN counties also includes essential imports: Iron ore and Coal from Indonesia, Palm oil from Malaysia and Indonesia, Oil - Petroleum products from Brunei Dares Salam and Malaysia and pulses from Mayanmar.''It needs mention that ASEAN is India's 4th largest trading partner accounting for over 11% of India's total global trade with bilateral trade at 120billion USD and accounts for over 11% of India's Exports. FDI inflows from ASEAN to India account for over 18% of total FDI inflows since 2000,' he further about the Commerce Minister, he also said that, 'Commerce Minister should be prioritising strengthening trade relations with partner countries and not insulting them while bending backwards to negotiate a suboptimal trade agreement with USA on its terms.' (ANI)
Time of India
2 hours ago
- Politics
- Time of India
Armenia PM arrives in Turkey for 'historic' visit
AP File ISTANBUL: Armenian Prime Minister Nikol Pashinyan arrived in Istanbul Friday for a rare visit to arch-foe Turkey, in what Yerevan has described as a "historic" step toward regional peace. Armenia and Turkey have never established formal diplomatic ties, and their shared border has been closed since the 1990s. "Prime Minister Nikol Pashinyan has arrived in Turkey on a working visit," his spokeswoman Nazeli Baghdasaryan said on Facebook. The visit follows an invitation from Turkish President Recep Tayyip Erdogan, whom Pashinyan is scheduled to meet at Istanbul's Dolmabahce Palace at 1500 GMT, Erdogan's office said. Relations between the two nations have been historically strained over the World War I-era mass killings of Armenians in the Ottoman Empire -- atrocities Yerevan says amount to genocide. Turkey rejects the label. Ankara has also backed its close ally, Turkic-speaking Azerbaijan, in its long-running conflict with Armenia. "This is a historic visit, as it will be the first time a head of the Republic of Armenia visits Turkey at this level. All regional issues will be discussed," Armenian parliament speaker Alen Simonyan told reporters. "The risks of war (with Azerbaijan) are currently minimal, and we must work to neutralise them. Pashinyan's visit to Turkey is a step in that direction." An Armenian foreign ministry official told AFP the pair will discuss efforts to sign a comprehensive peace treaty as well as the regional fallout from the Iran-Israel conflict. On Thursday, Azerbaijani President Ilham Aliyev was in Turkey for talks with Erdogan and praised the Turkish-Azerbaijani alliance as "a significant factor, not only regionally but also globally." And Erdogan repeated his backing for "the establishment of peace between Azerbaijan and Armenia". Baku and Yerevan agreed on the text of a peace deal in March, but Baku has since outlined a host of demands -- including changes to Armenia's constitution -- before it will sign the document. Normalisation Pashinyan has actively sought to normalise relations with both Baku and Ankara. Earlier this year, he announced Armenia would halt its campaign for international recognition of the 1915 mass killings of Armenians as genocide -- a major concession to Turkey that sparked widespread criticism at home. Pashinyan has visited Turkey only once before, for Erdogan's inauguration in 2023. At the time he was one of the first foreign leaders to congratulate the Turkish president on his re-election. Ankara and Yerevan appointed special envoys in late 2021 to lead a normalisation process, a year after Armenia's defeat in a war with Azerbaijan over then then-disputed Karabakh region. In 2022, Turkey and Armenia resumed commercial flights after a two-year pause. A previous attempt to normalise relations -- a 2009 accord to open the border -- was never ratified by Armenia and was abandoned in 2018.
Int'l Business Times
2 hours ago
- Politics
- Int'l Business Times
Armenia PM Arrives In Turkey For 'Historic' Visit
Armenian Prime Minister Nikol Pashinyan arrived in Istanbul Friday for a rare visit to arch-foe Turkey, in what Yerevan has described as a "historic" step toward regional peace. Armenia and Turkey have never established formal diplomatic ties, and their shared border has been closed since the 1990s. "Prime Minister Nikol Pashinyan has arrived in Turkey on a working visit," his spokeswoman Nazeli Baghdasaryan said on Facebook. The visit follows an invitation from Turkish President Recep Tayyip Erdogan, whom Pashinyan is scheduled to meet at Istanbul's Dolmabahce Palace at 1500 GMT, Erdogan's office said. Relations between the two nations have been historically strained over the World War I-era mass killings of Armenians in the Ottoman Empire -- atrocities Yerevan says amount to genocide. Turkey rejects the label. Ankara has also backed its close ally, Turkic-speaking Azerbaijan, in its long-running conflict with Armenia. "This is a historic visit, as it will be the first time a head of the Republic of Armenia visits Turkey at this level. All regional issues will be discussed," Armenian parliament speaker Alen Simonyan told reporters. "The risks of war (with Azerbaijan) are currently minimal, and we must work to neutralise them. Pashinyan's visit to Turkey is a step in that direction." An Armenian foreign ministry official told AFP the pair will discuss efforts to sign a comprehensive peace treaty as well as the regional fallout from the Iran-Israel conflict. On Thursday, Azerbaijani President Ilham Aliyev was in Turkey for talks with Erdogan and praised the Turkish-Azerbaijani alliance as "a significant factor, not only regionally but also globally." And Erdogan repeated his backing for "the establishment of peace between Azerbaijan and Armenia". Baku and Yerevan agreed on the text of a peace deal in March, but Baku has since outlined a host of demands -- including changes to Armenia's constitution -- before it will sign the document. Pashinyan has actively sought to normalise relations with both Baku and Ankara. Earlier this year, he announced Armenia would halt its campaign for international recognition of the 1915 mass killings of Armenians as genocide -- a major concession to Turkey that sparked widespread criticism at home. Pashinyan has visited Turkey only once before, for Erdogan's inauguration in 2023. At the time he was one of the first foreign leaders to congratulate the Turkish president on his re-election. Ankara and Yerevan appointed special envoys in late 2021 to lead a normalisation process, a year after Armenia's defeat in a war with Azerbaijan over then then-disputed Karabakh region. In 2022, Turkey and Armenia resumed commercial flights after a two-year pause. A previous attempt to normalise relations -- a 2009 accord to open the border -- was never ratified by Armenia and was abandoned in 2018.
The Sun
2 hours ago
- Business
- The Sun
Oil prices fall as US delays decision on direct Iran involvement
SINGAPORE: Oil prices fell on Friday after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict, but remained on course for a third consecutive weekly rise. Brent crude futures fell $2, or 2.5%, to $76.85 a barrel by 0648 GMT but still looked set to gain more than 3% on the week. U.S. West Texas Intermediate crude for July - which did not settle on Thursday as it was a U.S. holiday and expires on Friday - was down 14 cents, or 0.2%, to $75. The more liquid August contract was up 0.3%, or 19 cents, to $73.69. On Thursday prices jumped almost 3% after Israel bombed nuclear targets in Iran and Iran fired missiles and drones at Israel. The week-old war between Israel and Iran showed no signs of either side backing down. Iran is OPEC's third-largest producer. Brent futures trimmed previous session gains following the White House's comments that President Donald Trump would decide whether the U.S. will get involved in the Israel-Iran conflict in the next two weeks. 'Oil prices surged amid fears of increased U.S. involvement in Israel's conflict with Iran. However, the White House press secretary later suggested there was still time for de-escalation,' said Phil Flynn, analyst at The Price Futures Group. 'The 'two-week deadline' is a tactic Trump has used in other key decisions. Often these deadlines expire without concrete action,.. which would see the crude oil price remain elevated and potentially build on recent gains,' said Tony Sycamore, analyst at IG. Emril Jamil, oil research analyst at LSEG, said the 'unwavering determination' of the Organisation of Petroleum Exporting Countries and its allies (OPEC+) to increase output 'may have added jitters to the market'.
The Sun
2 hours ago
- Business
- The Sun
Oil prices dip as U.S. delays decision on Israel-Iran conflict
SINGAPORE: Oil prices fell on Friday after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict, but remained on course for a third consecutive weekly rise. Brent crude futures fell $2, or 2.5%, to $76.85 a barrel by 0648 GMT but still looked set to gain more than 3% on the week. U.S. West Texas Intermediate crude for July - which did not settle on Thursday as it was a U.S. holiday and expires on Friday - was down 14 cents, or 0.2%, to $75. The more liquid August contract was up 0.3%, or 19 cents, to $73.69. On Thursday prices jumped almost 3% after Israel bombed nuclear targets in Iran and Iran fired missiles and drones at Israel. The week-old war between Israel and Iran showed no signs of either side backing down. Iran is OPEC's third-largest producer. Brent futures trimmed previous session gains following the White House's comments that President Donald Trump would decide whether the U.S. will get involved in the Israel-Iran conflict in the next two weeks. 'Oil prices surged amid fears of increased U.S. involvement in Israel's conflict with Iran. However, the White House press secretary later suggested there was still time for de-escalation,' said Phil Flynn, analyst at The Price Futures Group. 'The 'two-week deadline' is a tactic Trump has used in other key decisions. Often these deadlines expire without concrete action,.. which would see the crude oil price remain elevated and potentially build on recent gains,' said Tony Sycamore, analyst at IG. Emril Jamil, oil research analyst at LSEG, said the 'unwavering determination' of the Organisation of Petroleum Exporting Countries and its allies (OPEC+) to increase output 'may have added jitters to the market'.
