IMF and Pakistan reach preliminary deal for $1.2 billion payout
The International Monetary Fund (IMF) has reached a staff-level agreement with Pakistan that would unlock $1.2 billion in funding once approved by the...
Chinese President Xi Jinping’s Southeast Asia tour highlighted China’s commitment to free trade and regional cooperation, as key agreements were signed with Vietnam, Malaysia, and Cambodia.
During his Southeast Asia tour this week, Chinese President Xi Jinping defended the global free trade system and positioned China as a source of regional stability and certainty. His visit opened the door for key agreements aimed at strengthening cooperation and deepening economic ties with neighbouring countries.
In Vietnam, President Xi was welcomed with a grand reception in Hanoi, where he held talks with Vietnamese Communist Party General Secretary To Lam. Their discussions centred on reinforcing economic collaboration and preserving free trade. Xi also visited the tomb of Ho Chi Minh, the founder of the Vietnamese Communist Party.
Emphasising the importance of strategic partnership, Xi called for China and Vietnam to jointly benefit from economic globalisation. Both nations signed agreements on supply chains and railway infrastructure, while China pledged to facilitate greater access for Vietnamese agricultural products to its domestic market.
Xi’s official tour then took him to Malaysia and Cambodia. In Malaysia, discussions were held over expanding free trade agreements within ASEAN, with Malaysia currently chairing the organisation. ASEAN Secretary-General Kao Kim Hourn noted that the agreement would involve tariff reductions and broader trade cooperation.
China continues to invest heavily in Malaysia through its Belt and Road Initiative, including the country’s largest infrastructure project — an $11.2 billion railway. China also remains Malaysia’s top trading partner.
The tour underlines China’s strategic goal of reinforcing its regional influence, particularly as it faces new U.S. tariffs. Xi presented China as a ‘responsible’ global power in the face of shifting economic landscapes. Nevertheless, longstanding territorial disputes in the South China Sea remain a sensitive issue, generating tensions between China, Vietnam, and Malaysia.
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The International Monetary Fund (IMF) has reached a staff-level agreement with Pakistan that would unlock $1.2 billion in funding once approved by the Fund’s Executive Board.
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