• Dhaka Tue, 23 APRIL 2024,
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3rd Foreign Office Consultations between Bangladesh and Bhutan held
The 3rd Foreign Office Consultations (FOC) between Bangladesh and Bhutan was held in Thimphu (April 19) . Bangladesh delegation was led by Foreign Secretary of Bangladesh Masud Bin Momen, while Bhutan delegation was led by Pema Choden, Foreign Secretary of Bhutan.  During the Foreign Office Consultations, whole gamut of bilateral relations was discussed. Both the Foreign Secretaries expressed satisfaction on the excellent bilateral relations that exist between Bangladesh and Bhutan. They discussed all the major issues of mutual interests and agreed to promote cooperation encompassing all sectors, especially trade and commerce, health, investment, connectivity, power and energy, tourism, culture and education among others. Foreign Secretary Masud Bin Momen urged Bhutan to take necessary measures to rejoin the BBIN MVA framework to promote prosperity through people to people contact.  Foreign Secretary of Bangladesh raised the issue of Sustainable Development Fees for tourists and requested to reduce the current SDF for the Bangladeshi tourists. The Bhutanese side assured of positive consideration. The two sides agreed to work together to enhance tourism and foster people to people contact. Both the Foreign Secretaries also discussed the means and ways of faster implementations of the  decisions taken and MoUs signed  during the recent visit by the King of Bhutan to Bangladesh.  Bhutanese Foreign Secretary, Pema Choden, stressed on the exploration of the untapped potential in economic, cultural and educational areas and proposed to establish meaningful collaborative relationship. She mentioned that Bhutan would like to pursue more trade and investment cooperation with Bangladesh. She also stressed on mutual efforts to conclude the pending Agreements/MoUs. She also emphasized on the exchange of government and private level visits between the two countries.  Both the Foreign Secretaries discussed regional issues of mutual interest and  hoped that both countries would continue to work to reinvigorate the SAARC and BIMSTEC processes.  Bangladesh Foreign Secretary also called on Lyonpo D. N. Dhungyel, Minister of Ministry of Foreign Affairs and External Trade, Royal Government of Bhutan at the latter’s office. During the meeting, they discussed the issues of mutual interests including trade & investment, special economic zone in Kurigram, power sector cooperation, cooperation in health and education, regional cooperation etc.  Foreign Secretary Masud Bin Momen also attended the National Day Reception hosted by the Bangladesh Embassy in Bhutan as the Special Guest. He also inspected the progress of the ongoing construction work of the Chancery and Residence Construction project of Bangladesh Embassy in Thimphu. 
20 Apr 2024,15:26

Tibetan activists protest outside Chinese embassy against Foreign Minister Wang Yi's visit
Police have clashed with Tibetan and Uyghur activists outside the Chinese embassy where the group was protesting against the visit of Foreign Minister Wang Yi. Federal police officers had to remove several protesters holding Tibetan and Uyghur flags and chanting anti-Chinese government slogans outside the embassy's compound. Protest organiser Tsewang Thupten told the crowd it was important to send a strong message to the visiting Chinese dignitary about his country's appalling human rights record.  "We will never be silent! We will never be silent. We will have courage. We will have courage. We will never stop! We will never stop!" protesters chanted. Meanwhile, Foreign Minister Penny Wong, who met with Chinese counterpart Mr Wang earlier on Tuesday, told media that she pressed him about the suspended death sentence handed to Australian writer Yang Hengjun, and also on unwinding its remaining restrictions on Australian's goods. Senator Wong and Mr Wang sat down for lengthy and wide-ranging discussions in Canberra on Wednesday morning.  Both ministers opened the meeting by acknowledging that their countries still have deep differences. But Mr Wang said those differences shouldn't "define" the relationship, while Senator Wong stressed that dialogue was critical to keeping it on an even keel. "A stable relationship between Australia and China doesn't just happen, it needs ongoing work," Senator Wong told journalists after the meeting. Senator Wong said she again raised the government's deep concerns over the death sentence handed to Australian writer Yang Hengjun last month. "I told the foreign minister Australians were shocked at the sentence imposed and I made clear to him the Australian government will continue to advocate on Dr Yang's behalf," she said. But she wouldn't be drawn on whether Australia was pressing for China to release Dr Yang and allow him to return home, or simply wanted to ensure he was spared the death penalty. Beijing has already signalled it will soon withdraw heavy tariffs on Australian wine, but Senator Wong said she'd pressed Mr Wang to also roll back barriers that remain on rock lobsters and some meatworks. On Wednesday, Mr Wang appeared to link China's decision to unwind wine tariffs to Australia's decision to let tariffs on Chinese wind towers lapse, but Senator Wong insisted during her press conference that the two issues were not linked in any way. "We'll continue to advocate for all trade impediments to be removed. We think it's in both countries' interests," she said. Senator Wong also said that Australia and China would "expand dialogue in key areas such as the Pacific, climate and energy cooperation and to enhance understanding and transparency", although it's not clear right now what shape those talks will take. The foreign minister told journalists she also expressed "serious concern" to Mr Wang about "unsafe conduct at sea" and highlighted Australia's "desire for peace and stability across the Taiwan Strait, and in our region." Australia has backed the Philippines in its dispute with Beijing over the South China Sea, where Chinese coastguard vessels have been trying to force Philippine ships out of contested  waters, despite an international ruling against its claims to the region. "I reflected the view of our region as outlined again and underscored again at the recent ASEAN summit about the importance of the South China Sea being governed by law, particular UNCLOS," Senator Wong said. She also said that plans for the Chinese premier to visit Australia later this year were "on track." That visit is widely expected to happen around the middle of the year, although that hasn't yet been publicly confirmed by either country. Earlier, Mr Wang used his opening remarks at the beginning of the meeting to declare that both China and Australia should "seek commonality or shelve differences" in the wake of several "twists and turns" in ties. "Our two countries have different social systems, histories and cultures, there are many differences, but our common interests outweigh those differences," he said. "So, we should also not only face differences and express them squarely but also manage and rise above those differences." In a thinly veiled reference to the United States, he also stressed that Australia should maintain an "independent" foreign policy and that "third parties" should not try to "disrupt" ties between Canberra and Beijing. Beijing has repeatedly accused the US of trying to corral Australia into a new military bloc with the aim of containing China, and has excoriated the federal government's plan to develop nuclear powered submarines under the AUKUS pact. "The most valuable (thing) is to stay committed to independence," he said. "I trust that independence is also a fundamental principle in Australia's foreign policy. "The development of our relations does not target any third party and should not be disrupted or affected by any third party." Source: ABC
24 Mar 2024,23:24

New security law worries foreign firms in Hong Kong
Some foreign companies say they may have to pay extra operational costs to comply with the new National Security Law. Several foreign chambers of commerce raised concerns about the legislation of a new national security law in Hong Kong by the time a one-month public consultation period ended Wednesday. The Hong Kong government on Thursday said it had received a total of 13,147 submissions on its plans to enact national security legislation under Article 23 of the Basic Law. It said 98.6% of submissions showed support and made positive comments. A Security Bureau spokesperson said 93 submissions, or 0.71%, came out against the proposals, including more than 10 from overseas anti-People’s Republic of China organizations or abscondees. Secretary for Justice Paul Lam said the government will consolidate the results of the consultation exercise at full steam, report to lawmakers and seek to finalize the legislation bill as soon as possible. Chambers of commerce representing German, European and Japanese companies in Hong Kong have separately commented on the matter, saying that the new law may hurt investors’ sentiment in the city. The new definition of state secrets may increase the perception that the “one country” aspect of Hong Kong’s special status is more in focus than the “two systems,” Johannes Hack, the president of the German Chamber of Commerce in Hong Kong, told the Associated Press in an email interview. “For Hong Kong to present a distinctive business advantage vis-a-vis the mainland, the two systems part is however quite important,” he said. “Hong Kong in our view should be different ‘in fact and feeling.’” He said additional costs to comply with the “quite broad definition” of state secrets may cause foreign investors to move elsewhere. A spokesperson of the European Chamber of Commerce in Hong Kong told Nikkei Asia in a statement that it will pay “particular attention to issues potentially concerning the core values that make Hong Kong an attractive place in which to do business.” The spokesperson said Hong Kong’s core values refer to “strong protection for fundamental rights, the rule of law, an independent judiciary and a free flow of information.” In early February, the Japan External Trade Organization (JETRO) published a survey, which was conducted in January before the Hong Kong government started a public consultation on the security law legislation.   About one-third of the respondents said that Hong Kong’s overall business climate has either “worsened” or “worsened significantly” from a year ago, the survey showed. The ratio increased by more than 20 percentage points compared with the previous survey published last July. Shinya Amano, director general of JETRO Hong Kong, said on February 2 that recent political developments were creating “a vague sense of wariness” that was having a chill effect on businesses.  He said some companies were worried by the low voter turnout rate in the District Council elections last December as Beijing screened all candidates. He said they were concerned by trials related to the National Security Law imposed by Beijing in Hong Kong in June 2020 as offenders could be jailed for life. Last December, Hong Kong activist Agnes Chow announced that she had fled to Canada for study and would not return to Hong Kong.  She was officially wanted by Hong Kong police on February 6 as she was under investigation for “collusion with foreign forces.” Her case was widely reported by Japanese media. She speaks Japanese fluently. Press freedom On June 30, 2020, the National People’s Congress Standing Committee passed the National Security Law for Hong Kong, which targets four types of offenses including secession, subversion, terrorist activities and collusion with foreign powers.  Now the Hong Kong government wants to pass a new National Security Law in accordance with Article 23 of the Basic Law. The new law will cover five offenses, including treason, sedition, theft of state secrets, sabotage activities and external interference. Citing a survey conducted in early February, the Hong Kong Journalists Association (HKJA) said in a proposal on February 26 that all 160 members who responded think that the new National Security Law will have a negative impact on the city’s press freedom.   It said the definition of “state secrets” is too broad, making it difficult for reporters to determine whether their government sources are disclosing information with lawful authority. It said that the government, when enacting the law, should avoid situations where journalists find themselves caught up in legal trouble due to their regular news reporting and commentary work.  “Hong Kong is required to ensure that national security legislation aligns with international standards and upholds rights and freedoms, as set out in the Joint Declaration, the Basic Law, the International Covenant on Civil and Political Rights, and the International Covenant on Economic, Social and Cultural Rights,” said David Cameron, foreign secretary of the United Kingdom. “Legislative proposals announced on 30 January by the Hong Kong government do not uphold these obligations,” he said. He said the UK was concerned by the proposed new law as the work of international organizations in Hong Kong might be labeled “foreign interference.” He said the toughening of penalties for speech crimes and the use of the broadly defined term “state secrets” will inhibit freedoms of speech, expression and the press. “The UK’s ‘concerns’ have no ground,” Mao Ning, a spokesperson of the Chinese Ministry of Foreign Affairs, said Thursday. “The Sino-British Joint Declaration by no means put the UK in a position or gave it any right to interfere in Hong Kong affairs. We urge the UK to find the right mindset, face the fact that Hong Kong has already returned to China, stop interfering in Hong Kong affairs, reflect on its action, and end double standards.”  She added that the normal activities of foreign institutions and personnel in Hong Kong will continue to be protected in accordance with law. She said the UK’s National Security Act, which came into force last year, contains many provisions with vague definitions and grants law enforcement agencies sweeping power, which can be abused easily.  Jasper Tsang’s article On February 6, Jasper Tsang, the former president of Hong Kong’s Legislative Council and a heavyweight in the pro-Beijing camp, made some suggestions to the government about the Article 23 legislation. In an article published by local newspaper Ming Pao, Tsang said officials should explain whether the press can defend itself with “public interest” when it is accused of having reported information that may threaten national security.  He says the new law should clearly define “seditious intention.” For example, he says the definition may be too broad if a person who delivered hate speech against mainland tourists is accused of threatening national security. Tsang was then criticized by some younger comrades in the pro-Beijing camp.  Joephy Chan, a lawmaker of the Hong Kong Federation of Trade Unions, said in her YouTube channel that Tsang had become a rebel at a critical time. She said Tsang’s comments were confusing and made her feel uncomfortable. She said key opinion leaders should always help the government explain and promote its policies. Source: Asia Times
03 Mar 2024,19:07

Beijing hasn't been able to stop foreign investors from fleeing China's stock market
China's stock market has seen net selling for a record six straight months, Bloomberg data shows. Foreign investors have fled amid economic problems and a tepid policy response from Beijing. In January, global funds sold $2 billion worth of Chinese equities. January marked the sixth consecutive month foreign investors were sellers of Chinese equities, according to a Bloomberg report. Last month, global funds sold 14.5 billion yuan worth of stocks — about $2 billion — and Beijing has yet to offer any policy solution to reverse the outflows. Chinese equities have shed roughly $6 trillion in market value since peaking in 2021.  The post-pandemic economic rebound never fully materialized for China, and instead, it's had to contend with severe real estate trouble, deflation, and fresh demographic challenges including an aging population and historic youth unemployment.  "You have an uber-bearish narrative around China that is proving very difficult to dislodge," Nicholas Spiro, a partner at Lauressa Advisory, told Business Insider in a recent interview. "China is emphatically out of favor with global investors." On January 22, Bloomberg reported that Chinese authorities were weighing a rescue package for stocks worth as much as $278 billion, pulled primarily from offshore accounts of state-run firms.  Yet experts told Business Insider that even sizable initiatives may not bring bears clamoring back to China. The bleak outlook stems from China's real estate market, which accounts for the majority of household wealth in the country. With property values depreciating, people's willingness to spend has also deteriorated, as has sentiment across the economy and markets. Deep-seated structural issues in real estate, experts say, make it difficult to envision what has to happen for investors to regain confidence.    Source: Business Insider  
04 Feb 2024,18:40
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