20/04/2020
BRUSSELS (Reuters) – The euro zone’s trade surplus with the rest of the world grew in February, with a decline in imports from China as well as sharply lower energy needs because of mild winter weather.
The unadjusted goods trade surplus grew to 23.0 billion euros ($25.1 billion) in February, compared with 18.5 billion euros a year earlier. Exports rose by 1.6%, while imports fell by 1.0%.
For China, which already had widespread coronavirus restrictions in place in February, exports from the European Union as a whole were slightly lower than in February 2019. However, imports were down by 8.1%, according to data on Eurostat’s website.
Energy imports as a whole also declined by 9.6% in February, when comparing Jan-Feb data issued on Monday and January data from a month ago. That translated into 10.1% lower imports from Russia and 5.9% less from Norway.
The trade surplus with the United States, by contrast, grew by 21% in the month as exports increased and imports declined. The persistent surplus in goods has been a source of transatlantic tension.
On a seasonally adjusted basis the euro zone trade surplus also rose to 25.8 billion euros in February from 18.2 billion euros in January. Exports were 1.8% higher month-on-month and imports 2.3% lower.
Source: Reuters
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22/10/2019
NEW DELHI (Reuters) – India and Pakistan are set to sign an agreement on Indian pilgrims visiting a Sikh shrine in Pakistan, rare cooperation between the nuclear-armed neighbours at a time of tension that has brought exchanges of fire on their disputed border.
The pact will introduce visa-free access from India to the Pakistani town of Kartarpur, home to a temple that marks the site where the founder of Sikhism, Guru Nanak, died.
India’s foreign ministry said in a statement late on Monday an understanding had been reached on most issues and India was prepared to sign the agreement on Wednesday.
Pakistani officials were not immediately available for comment but Pakistan’s Dawn newspaper cited a foreign ministry spokesman as saying agreement had been reached and the two sides would sign the pact soon.
The Sikh minority in India has long sought easier access to the temple in Kartarpur, which is just over the border in Muslim-majority Pakistan.
The collaboration comes at a time of tension between the rivals, with Pakistan particularly aggrieved over recent Indian government measures in its part of the divided Muslim-majority region of Kashmir.
Both countries claim the Himalayan region in full but rule it in part.
India in August revoked special autonomy in Indian-controlled Kashmir, which was accompanied by a crackdown on dissent by India’s security forces there, angering Pakistan.
The dispute over Kashmir has bedevilled relations since their independence in 1947 and sparked two of their three wars.
India said on Sunday two soldiers and a civilian were killed in cross-border shelling in Kashmir while Pakistan said one of its soldiers and three civilians had been killed.
In February, they came close to war following a suicide bombing in Indian Kashmir that killed 40 paramilitary soldiers. In response, India launched an air strike on the Pakistani side and Pakistan shot down an Indian aircraft.
The new crossing will be inaugurated in early November, just before the 550th birthday of Sikhism’s founder on Nov. 12, officials from both sides have said.
The shrine is about 4 km (2-1/2 miles) from the border. The crossing and corridor, including a road, bridge over the Ravi River and immigration office, will replace a drawn-out visa process and circuitous journey through Pakistan.
But there is still disagreement over a $20 fee that Pakistan wants to charge each visitor.
India “has consistently urged Pakistan that in deference to the wishes of the pilgrims, it should not levy such a fee”, India’s foreign ministry said.
Source: Reuters
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