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Nineth round of political talks between Pakistan and the EU centers on trade and security

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10 months ago

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In their ninth round of political dialogue, which took place here on Wednesday, Pakistan and the EU discussed all aspects of their bilateral relationship, with a particular emphasis on the Strategic Engagement Plan (SEP), trade and development cooperation, security, climate action, migration, and mobility.

The team from Pakistan was led by Foreign Secretary Muhammad Syrus Sajjad Qazi, while Enrique Mora, Deputy Secretary General of the European External Action Service, represented the EU.

Significant local and international happenings were also covered.

The two parties expressed satisfaction with the positive direction of the relationship and decided to keep working to expand and deepen bilateral ties between Pakistan and the EU in all areas of shared interest. They will do this by routinely convening institutional mechanism meetings and carrying out follow-up tasks.

The two sides acknowledged the significance of bilateral relations between Pakistan and the EU, concurring that frequent high-level meetings have given the relationship new life and emphasized the need for close communication and collaboration in the face of a geopolitical environment that is changing quickly.

In order to bring about diversification and sustainability in trade ties between Pakistan and the European Union, the Foreign Secretary emphasized the need for deeper collaboration with key stakeholders on both sides, acknowledging GSP Plus as a successful model of trade for development and mutually beneficial cooperation.

The two parties also decided to investigate fresh prospects under the EU’s major initiatives, Horizon Europe and the Global Gateway Strategy.

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In interbank trade, the Pakistani rupee beats the US dollar.

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5 days ago

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In the international exchange market, the US dollar has continued to weaken in relation to the Pakistani rupee.

The dollar fell to Rs278.10 from Rs278.17 at the beginning of interbank trading, according to currency dealers, a seven paisa loss.

In the meantime, there was a lot of turbulence in the stock market, but it recovered and moved into the positive zone. The KSE-100 index recovered momentum and reached 116,000 points after soaring 1,300 points.

Both currency and stock market swings, according to analysts, are a reflection of ongoing market adjustments and economic uncertainty.

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Phase II of CPEC: China-Pakistan Partnership Enters a New Era

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6 days ago

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The cornerstone of economic cooperation between the two brothers and all-weather friends is still the China-Pakistan Economic Corridor, the initiative’s flagship project.

In contrast to reports of a slowdown, recent events indicate a renewed vigour and strategic emphasis on pushing the second phase of CPEC, known as CPEC Phase-2, according to the Ministry of Planning, Development, and Special Initiatives.

According to the statement, this crucial stage seeks to reshape the foundation of bilateral ties via increased cooperation, cutting-edge technology transfer, and revolutionary socioeconomic initiatives.

Planning Minister Ahsan Iqbal is leading Pakistan’s participation in a number of high-profile gatherings in China, such as the 3rd Forum on China-Indian Ocean Region Development Cooperation in Kunming and the High-Level Seminar on CPEC-2 in Beijing.

His involvement demonstrates Pakistan’s commitment to reviving CPEC, resolving outstanding concerns, and developing a strong phase-2 roadmap that considers both countries’ long-term prosperity.

At the core of these interactions is China’s steadfast determination to turn CPEC into a strategic alliance that promotes development, progress, and connectivity.

Instead of being marginalised, CPEC is developing into a multifaceted framework with five main thematic corridors: the Opening-Up/Regional Connectivity Corridor, the Innovation Corridor, the Green Corridor, the Growth Corridor, and the Livelihood-Enhancing Corridor.

With the help of projects like these, the two countries will fortify their partnership, and CPEC phase-2 will become a model of global economic integration and collaboration that benefits not just China and Pakistan but the entire region.

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The inflation rate in Pakistan dropped to its lowest level.

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6 days ago

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On December 2, core inflation as determined by the Consumer Price Index (CPI) significantly slowed, falling to 4.9% in November 2024 from 7.2 percent in October 2024.

The CPI-based inflation rate for the same month last year (November 2023) was 29.2%, according to PBS data.

Compared to a 1.2% gain in the prior month, it increased by 0.5% month over month in November 2024.

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