NON EU COUNTRIES
Xi Jinping lauds relevance of Panchsheel to end world conflicts, calls for consolidating Global South
Xi Jinping emphasized the Five Principles of Peaceful Coexistence, proposed the Global Security Initiative, and unveiled initiatives to enhance cooperation with the Global South, demonstrating China's strategic vision for inclusive international relations and development.
Exporters seek separate division for non-trade issues, faster customs clearance
Exporters requested the establishment of a distinct division within the Commerce and Industry Ministry to address non-trade barriers, particularly those related to environment and sustainability. During their discussion with Union Minister Piyush Goyal, they also highlighted concerns about Chinese goods entering India via the ASEAN free trade agreement.
Make India key node to verify origin of diamonds, Indian officials tell EU
At a meeting in Brussels last month, the Indian trade body, senior government officials and Indian customs officials have told the European Union authorities that India, which imports about 90% of rough stones mined in the world, should be a key nodal checkpoint to verify whether diamonds mined in Russia are sneaking into the affluent markets whose governments are backing the sanctions.
EU cybersecurity label should not discriminate against Big Tech, European groups say
26 industry groups in Europe warn against discrimination in the proposed cybersecurity certification scheme for cloud services, emphasizing the importance of inclusivity and non-discrimination.
Global standards with FTAs
India recently concluded a trade and economic partnership agreement with the European Free Trade Association (EFTA) comprising Iceland, Liechtenstein, Norway, and Switzerland. The agreement includes innovative features like linking potential investment with tariff liberalisation.
Meta hit with privacy complaints over AI plans
A Vienna-based privacy group filed complaints against Meta in 11 European countries over unlawful AI data use. Microsoft announced a $3.2 billion AI investment in Sweden over two years, AMD unveiled new AI chips to challenge Nvidia, and Cisco plans a $1 billion investment in AI startups for secure AI services.
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Slovaks and others go to the polls in EU elections under the shadow of an assassination attempt
Voters in Slovakia, Italy, and other European Union nations are casting their ballots for the European Parliament on the third day of elections. In Slovakia, an attempt to assassinate populist Prime Minister Robert Fico on May 15 has reverberated throughout Europe. Analysts believe the attack could boost the chances of the premier's leftist Smer party, the senior partner in the governing coalition, to win the vote.
Indian exports: How Modi 3.0 can navigate the protectionist tides in advanced economies like US and EU
India has transitioned from a decade of single-party rule to a new era of coalition politics, causing concern among stock market investors about potential slowdowns in economic reforms. Rising protectionist measures from advanced economies like the US and EU pose challenges for Indian exporters, with stringent regulations on products ranging from chemicals to food items. The impact of these barriers could disproportionately restrict India's economic objectives and competitiveness, particularly in key sectors like textiles and apparel.
Azerbaijan proposes COP truce to unite countries on climate change
Azerbaijan, the host of this year's United Nations Climate Change Conference (COP 29), is aiming to shield the annual talks from geopolitical tensions by proposing a two-week COP truce. This initiative, inspired by the Olympic truce, is intended to unite countries in a collaborative effort to address the pressing issue of climate change. Hikmet Hajiyev, foreign policy adviser to Azerbaijan President Ilham Aliyev, highlighted the current global geopolitical polarization as reminiscent of the Cold War era, making consensus-building on climate action challenging.
Hungary to relaunch Golden Visa as Guest Investor Program on July 1
Hungary relaunches its Golden Visa Program as the Guest Investor Program (GIP) for non-EU/EEA nationals, offering residency through real estate investments or donations. The program grants visa-free travel across the EU and extends permits to family members. Hungary's new immigration law introduces changes and delays in implementation.
Meta hit with privacy complaints in Europe over AI plans
A Vienna-based privacy campaign group filed complaints in 11 European countries against Meta on Thursday, saying the global tech giant's planned privacy policy change would allow "unlawful" use of personal data for artificial intelligence technology. Through the complaints, the group asks data protection authorities in the 11 European countries to stop Meta's new privacy policy before it enters into force in late June and fully investigate it.
Germany just launched its new point-based Opportunity Card. The best part? You don't need a job offer or family sponsorship
Germany's new Opportunity Card, also known as 'Chancenkarte,' offers a one-year residence permit for non-EU candidates to search for employment without a permanent contract, attracting skilled workers with simplified entry and job search processes.
Spain's data protection agency suspends two of Meta's EU election apps
Spain's data protection watchdog AEPD orders the provisional suspension of Meta's planned products for the European election on Instagram and Facebook, citing potential violations of Spanish data protection laws.
New-age brands buzz on deal street; Unacademy founders’ voting rights
Happy Friday! New-age brands are attracting capital from VC funds, founders and other types of investors. This and more in today’s ETtech Morning Dispatch.
Indian AI firms may face extra costs as EU’s AI Act kicks in
The European Union wrapped up approval of the world's first law governing AI development last week. This legislation takes a tiered approach, setting varying compliance timelines and regulations based on the potential risk each AI system poses. Generally applicable AI will have a year to comply, while high-risk systems get up to three years.
EU carbon tariff: India preps for a fight at WTO
India is considering challenging the European Union's Carbon Border Adjustment Mechanism (CBAM) at the World Trade Organization, which mandates non-EU steel producers to report emissions, impacting sectors like iron and steel, cement, and more.
EU, Israel in war of words as ties nosedive ahead of Spain, Ireland recognising Palestinian state
Angry words abounded Monday, with Katz accusing Spain of "rewarding terror" by recognising a Palestinian state, and saying that "the days of the Inquisition are over". He referred to the infamous Spanish institution started in the 15th century to maintain Roman Catholic orthodoxy that forced Jews and Muslims to flee, convert to Catholicism or, in some instances, face death.
China slammed in G-7 show of unity threatening trade escalation
Group of Seven finance chiefs criticized China's global trade practices, escalating tensions. The G-7 expressed concerns about China's non-market policies affecting economies and hinted at retaliatory measures.
G7 criticise China, warn of escalation in trade disputes
The club of rich-world ministers and central bankers concluded its gathering in the Italian lakeside town of Stresa on Saturday with a communique that cited the world's second-biggest economy by name and accused the country of hurting the economies of its trade partners.
Why reforming the WTO dispute settlement mechanism is imperative
The 13th Ministerial Conference of WTO in Abu Dhabi renewed commitment to a well-functioning Dispute Settlement Mechanism (DSM) by 2024, crucial for the rules-based multilateral trading system.
India held two-day "Chintan Shivir" to formulate strategy and SOPs for FTAs
The commerce ministry's two-day "Chintan Shivir" aimed to develop strategies for free trade agreements (FTAs), focusing on India's trade vision for 2047 and new FTA disciplines. Experts emphasized consultation with stakeholders and timely sharing of negotiation details. India is negotiating FTAs with various countries, including the UK, EU, Australia, Eurasian Economic Union, and Peru. Negotiations for the India-EU FTA are at a crucial stage, while the India-UK FTA has made progress but faces challenges like tariff reductions and fair treatment of Indian workers in the UK.
Plan to put in place SOP for negotiations on trade pacts
India plans to establish an SOP for negotiating FTAs, addressing labor, environment, gender, and indigenous peoples. The Chintan Shivir will discuss strategies for FTAs, including the Carbon Border Adjustment Mechanism and critical minerals.
Vote on EU cybersecurity label delayed to May
National cybersecurity experts postponed voting on the EU cybersecurity label, citing ongoing disagreements over Big Tech's qualification requirements. The latest draft eliminated sovereignty requirements for U.S. tech giants, prompting criticism from EU cloud vendors.
Farmers from 10 EU countries join forces - and tractors - to protest agricultural policies
The farmers met their colleagues from neighbouring Germany, Poland and Slovakia at a number of border crossings. Farmers from 10 EU countries, ranging from Central Europe to the Baltics and the Balkans, were participating in the protest, organisers said.
One question haunts non-EU foreign workers in Sweden. Are they earning enough to keep their work permits?
The income threshold for non-EU foreign nationals was more than quadrupled by the government on November 1 to 27,360 kronor, or 80% of the typical salary in Sweden.
New pitch to make our UNSC bid
Once Elon Musk followed Eisenberg, saying it is 'absurd' that India is still not a permanent UNSC member despite being the most populous country, we realised that what we were seeing was a new crop, this time of supra-national non-state actors - wealth creators - asking the all-too-valid question. And this questioning of India's outlier status could well be a critical driver that strengthens its claim for the seat.
Germany eases citizenship laws; to now allow foreigners in the country to get German passport in three years
German lawmakers voted to approve legislation that relaxes the rules on obtaining citizenship and eliminates restrictions on dual citizenship. The proposal aims to enhance immigrant integration and facilitate the recruitment of skilled workers. Under the new legislation, individuals can qualify for citizenship after residing in Germany for five years, compared to the current requirements of eight years.
UK lifts Brexit obstacles for French students
Britain has lifted costly obstacles on school trips post-Brexit, only for students from France. The move follows talks between Prime Minister Rishi Sunak and French President Emmanuel Macron. French and EU nationals at French schools now need a simple identity card for language-learning holidays. Non-EU nationals still need a passport, but London has removed the need for a £115 visa.
Engineering exports to WANA, N-E Asia, CIS countries rise, shipments to major markets US and EU down
High-interest rates, weak industrial output, volatility in commodity prices, and increase in trade-restrictive measures are affecting global trade and, in turn, India’s engineering exports, says Arun Kumar Garodia, EEPC India Chairman.
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