India trying to widen breach between Pakistan and Bangladesh

Indian high commissioner to Bangladesh Vikram Kumar Doraiswami on Monday indicated the trial of genocide committed by Pakistan during the 1971 liberation war can take place anytime as there is no statute of limitations in terms of times, reports UNB.

“I think we should be clear about it without getting into legal formalities…in other words, even if something happened long ago,” he said.

The High Commissioner said that there was no statute of limitation on any kind of arrangement that may have been arrived in and this is something entirely within the jurisdiction of the Government of Bangladesh to assess the history and see how this goes forward.

Doraiswami came up with the remarks when asked which provision of the 1974 tripartite agreement is holding back to try the Pakistani Generals who committed genocide during the war of liberation in 1971.

“History is history,” said the High Commissioner noting that the question is historically very relevant in this historic year when Bangladesh is set to celebrate the 50 years of its Independence.

The Indian diplomat was speaking at ‘DCAB Talk’ organized by the Diplomatic Correspondents Association, Bangladesh (DCAB) at the Jatiya Press Club. DCAB President Pantho Rahman and General Secretary A K M Moinuddin also spoke at the event.

Bangladesh has recently reiterated the importance of resolving outstanding bilateral issues with Pakistan, including an official apology from Pakistan for the genocide it committed during Bangladesh’s liberation war in 1971.

Bangladesh also sought completion of the repatriation of stranded Pakistanis in Bangladesh, and settling the issue of the division of assets.

Bangladesh has made it clear that it cannot forget the atrocities committed by Pakistan in 1971 and the pain will remain there forever.

United Arab Emirates appoints first ambassador to Israel

Ruler of Dubai and Vice President of United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum has sworn in the country's first ambassador to Israel, Mohammed Mahmoud Al-Khaja, according to the Dubai Media Office.

The UAE's cabinet last month approved the establishment of an embassy in Tel Aviv in Israel, state media said, while Israel announced its embassy had opened in Abu Dhabi, after the UAE and Israel agreed to normalize relations.

Hundreds of Israelis booked flights and went to visit the Gulf state after the historical signature of the Abraham Accords. In light of this, the Tourism Ministry is hoping to attract many new tourists from the UAE as soon as travel returns when COVID-19 infection rates drop.

However, due to Israel closing its border in efforts to contain new coronavirus variants, hundreds of Israeli remained stuck in Dubai. 

In addition to tourism, Israel and the UAE are currently building bridges in a variety of sectors, from hi-tech to space exploration and ag-tech.

The UAE's Hope Probe success in entering orbit around Mars last week places it in the unique club of only five agencies able to reach the red planet so far. The Gulf state even has plans for settlements on Mars, which it hopes would become a reality in less than a century. 

Israel's own Beresheet moon project is meant to launch a second mission in three year's time. The scientific cooperation between the Start up Nation and the UAE is likely to be at the focus of diplomats, and think tanks, from both countries in the near future.

Israel and the UAE both had important milestones last year points to how important the current relations are. Israel and the UAE have many shared interests, whether it is a shared regional outlook about threats and instability, or the fact that both countries are close partners of the United States.

Both countries are also pioneering technology products, whether in fintech or food tech or other sectors, many of which have been on display, or will be soon, in joint ventures and exhibitions in the UAE which Israelis are taking part in.

For instance, Israeli companies flocked to the GITEX trade show last year and hope to be at IDEX in Abu Dhabi this month and also GISEC this summer.

Need for further consolidating Pakistan-Brazil diplomatic and trade relations

Brazil can be rightly termed an emerging economic power in the world – 6th by GDP after US, China, Japan, Germany and France. Brazil has been expanding its presence in international financial and commodities markets and is one of a group of four emerging economies called the BRIC countries.

The relations between Pakistan-Brazil are friendly and face zero issues. Brazil considers Pakistan an important country, and wants to promote relations in areas of trade, agriculture, defense, tourism and education. Brazil has been granting scholarships to Pakistani students and this number has been increasing over the years.

Brazil is keen in boosting bilateral trade ties with Pakistan as both countries have great potential to enhance trade in diverse fields. Pakistan produces a number of products which are in high demand in Brazil. Pakistani exporters should make efforts to enhance their exports to Brazil.

It is worth noting that number of Pakistani products go to Europe and then sold to other countries, including Brazil at high prices. Pakistan has opportunity to focus on promoting direct exports to achieve better results.

Although, Brazil was among the 5 largest world producers in 2013, its textile industry is very little integrated into world trade.

Brazil has great expertise in producing renewable energy. The country has been producing around 65% of its energy from water and using ethanol along with bio-fuels instead of costly petroleum products.

Pakistan has enormous potential for hydropower generation while it is also one of the largest sugar producers in the world. Brazil could cooperate with Pakistan in energy production from renewable sources including hydro and ethanol sources.

Keeping in view that the China-Pakistan Economic Corridor (CPEC) project will open trade doors for Pakistan with other countries, Brazil can find new markets in Pakistan and adjoining countries.

Pakistani handicrafts, carpets, fresh dry fruit, sporting equipment and other products enjoy reputation in international markets and can also find buyers in Brazil.

It is on record that Brazil is keen in investing in Pakistan. Brazilian government understands the need of international investment in Pakistan, particularly Baluchistan.

In the mining sector, Brazil stands out distinguished in the extraction of iron ore (second largest world exporter), copper, gold, bauxite (one of the 5 largest producers in the world), manganese (one of the 5 largest producers in the world), tin (one of the largest producers in the world), niobium (concentrates 98% of reserves known to the world) and nickel.

International Energy Agency paints pessimistic outlook for crude oil

Oil prices climbed more than 2% on Friday, hitting the highest levels in more than a year on hopes that the US stimulus package will boost the economy and fuel demand, as supplies tighten due largely to output cuts by top producing countries.

Brent crude settled up at US$62.43/barrel by 1:32 1832 GMT, after rising to a session high of US$62.83, the highest since 22nd January 2020. The US benchmark WTI ended the session at $59.47 after rising to a session high of US$59.82, the highest since 9th January 2020.

While Brent rose 5.3%, WTI notched a weekly gain of about 4.7%. The rally was in anticipation of the US President Joe Biden meeting with a bipartisan group of mayors and governors as he keeps pushing for approval of a US$1.9 trillion coronavirus relief plan to bolster economic growth and help millions of unemployed workers.

Oil prices have risen in recent weeks due to production cuts from the Organization of the Petroleum Exporting Countries (OPEC) and allied producers in the group OPEC+.

Oil prices held onto their recent gains this week, buoyed by further signs that crude stocks, particularly in the US were falling.

Analysts anticipate that inventories will fall further later this year as transport fuel demand revives in tandem with the easing of virus-related restrictions on travel.

Still, OPEC this week ratcheted down expectations for global oil demand to recover in 2021, trimming its forecast to 5.79 million bpd.

The International Energy Agency (IEA) said oil supply was still outstripping global demand, though COVID-19 vaccines are expected to support a demand recovery.

The (IEA) report paints a more pessimistic picture than market participants have presumably been envisaging given the current high prices.

Demand data from the world’s biggest oil importer also paints a bleak picture.

The number of people who travelled in China ahead of Lunar New Year holidays plummeted by 70% from two years ago as coronavirus restrictions curbed the world’s largest annual domestic migration, official data showed.

The US drillers this week added oil and natural gas rigs for a 12th week in a row, the longest streak of additions since June 2017.

According to secondary sources, OPEC crude oil production averaged 25.50 million bpd in January 2021, up 180,000 bpd from December 2020, with output rising in top producer Saudi Arabia, as well as in Venezuela and Iran, which are exempt from the OPEC+ cuts.