Macron urges China, EU to avoid pitfalls of protectionism
Beijing: President Emmanuel Macron on Tuesday offered to open up France to Chinese investment in exchange for greater access to Chinese markets for French companies, warning that existing trade imbalances would lead to protectionism.
Macron is on the second leg of a three-day state visit in China with a delegation of 50 business leaders he hopes will help reduce a 30-billion-euro ($36-billion) trade deficit with China.
“We have an access to markets which is unbalanced, unsatisfying,” Macron told members of the French and Chinese business community at a start-up incubator in Beijing.
“If we don’t deal with this responsibly, the first, natural, reaction will be to close up on both sides.”
“Let’s open up both instead,” Macron said.
Macron is hoping to seal deals, notably in the nuclear, aerospace and agrifood sectors. “We’re confident we’ll achieve more than symbolic stuff,” a French official said, on condition of anonymity.
French nuclear group Areva is close to signing a commercial deal to build a nuclear reprocessing plant, the official added. “We’ve never been that close to signing a commercial deal,” the official said.
French banking giant BNP Paribas is also expected to set up a joint venture with a Chinese partner in the consumer credit sector, the same official said.
At the incubator, French engineering firm Fives signed a deal with Chinese online retail giant JD.com, which will set up a logistics centre in France to source French food and luxury products for sale online in China.
JD.com agreed to sell 2 billion euros worth of French products - such as Remy Martin cognac or Evian water - on its website over the next two years.
The US Department of State has said Secretary of State Mike Pompeo spoke with his Russian counterpart Sergey Lavrov to discuss Helsinki meeting fruits.
Iranian Foreign Minister Mohammad Javad Zarif on Sunday called for practical measures by the European parties toward the 2015 nuclear deal to save the accord.
Safaricom has suffered a voice and data outage affecting critical transmission equipment because of a damaged fibre link, Kenya’s biggest telecoms company said.
Rahul Gandhi today alleged there was certainly a "scam" in the controversial Rafale jet deal with France and accused Defence Minister Nirmala Sitharaman of doing a "flip-flop" on the secrecy clause.
Arvind Kejriwal announced that financial assistance for Resident Welfare Assocations (RWAs) and NGOs registered with the Delhi Parks and Gardens Society (DPGS) for maintenance of parks and gardens would be doubled from Rs 1 lakh to Rs 2 lakh.
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Lavasa -an ultimate getaway, a city that would offer the charms of European locales, with five star comforts in a scenic part of Maharashtra has now become an abandoned town.
A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.
Delayed payment by GMR-led DIAL, the Delhi airport operator, to the CISF guards could eventually lead to passengers paying more to fly out of the Indian Capital.
The West Bengal Police has claimed to have busted a Rs 100 crore plus job racket in the Indian Railways following a crucial arrest in the Indian Capital.