News Analysis India

Tag: Agreements

  • Xinjiang Forced Labour Issue May Hit China’s Investment Agreement With EU

    With European Parliament (EP) passing a resolution on forced labour and conditions in Uyghur’s in Xinjiang Uyghur Autonomous Region, China’s plan to have investment agreements with the European Union seems to be jeopardized. Earlier this week, the EP passed a resolution calling on the bloc to proactively probe into labour conditions in XUAR and to ensure accountability for the crimes committed by the Chinese Communist Party. In the aftermath of this, there seems a high possibility of the bloc withdrawing from the investment agreements which are currently in their final stage.

    Speaking to South China Morning Post, a source familiar to EP and European commission said that if there was no commitment on international labour organisations, then it would be extremely difficult to continue with the targeted deal. Officially named Comprehensive Agreement on Investment, the pact has the potential to alter economy and trade between the two superpowers. In addendum, it aims to bolster the $650 billion economic trade that happened between the two in 2019.

  • America finishes big arms deal with UAE

    The United States has approved arms deals worth more than 1 lakh 73 thousand crores to the United Arab Emirates. Through this deal, the US will sell its state-of-the-art stealth combat aircraft F-35 and MQ-9 Reaper drones to the UAE.

    The UAE had been wanting to purchase the F-35 stealth fighter aircraft of the US for the past several years, but the deal was delayed due to Israeli objections. A few months ago, the UAE signed a peace deal with Israel. Recently the UAE, Bahrain and Sudan have signed agreements with Israel.

    Pompeo said that the UAE is under threat from Iran, so we are strengthening it by giving it weapons. He said the deal recognizes our deepening ties and the need for enhanced defense capabilities to protect the UAE against threats from Iran. Trump wants all pending agreements to be finalized within his remaining term.