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South Korea, Japan agree to drop trade dispute, leaders seek to restore strained ties


Japan and South Korea agreed to drop an almost four-year-old trade dispute on high-tech materials on Thursday, an emphatic sign they aim to rebuild a relationship strained by history and work together against deepening security threats.
The announcement came during Yoon Suk Yeol’s visit to Japan on Thursday, the first for a South Korean president 12 years, as the two neighbors look for common ground in the face of frequent North Korean missile launches.
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Japan will remove curbs on its exports to South Korea of critical materials for smartphone displays and chips while Seoul will drop a World Trade Organization (WTO) complaint against Tokyo, South Korea’s trade ministry said.
Tokyo imposed the curbs in 2019 as tensions over a decades-old row with Seoul deepened. Thursday’s announcement is likely to be seen as a sign of Yoon and Japanese Prime Minister Fumio Kishida’s desire to present a united front against growing regional tension and cooperate on supply chains. In doing so, they look to leave behind years of animosity sparked by Japan’s 1910-1945 occupation of the Korean peninsula.
The urgency of regional security and the threat posed by North Korea were underscored in the hours before Yoon’s arrival, when the North fired a long-range ballistic missile that landed in the sea between the Korean peninsula and Japan.
Yoon has said that he expects to “invigorate” security cooperation and the two leaders are preparing to confirm the restart of a bilateral security dialogue which has been suspended since 2018, according to Japanese broadcaster NHK.
Tokyo and Seoul are also expected to revive “shuttle diplomacy” of regular visits between the leaders, according to a Yomiuri daily report citing Japanese government sources.
Still, Japan remains cautious about immediate improvements in relations, with a Japanese government official who requested anonymity saying that “Japan and South Korea relations are looking up, but it’s still a step-by-step process.”
Yoon also faces skepticism at home. In a poll by Gallup Korea published Friday, 64 percent of respondents said there was no need to rush to improve ties with Japan if there was no change in its attitude, and 85 percent said they thought the current Japanese government was not apologetic about Japan’s colonial history.
Despite the strain, economic ties are strong. The two were each other’s fourth-largest export markets in 2021, according to the IMF. Japanese exports to South Korea totaled $52 billion, while South Korean exports totaled $30 billion, the data showed.

Fresh reminder

In a fresh reminder of the long-running tensions, two South Korean victims of wartime forced labor filed a lawsuit, seeking compensation from Japanese company Mitsubishi Heavy Industries, their representatives said on Thursday.
Relations between the two countries have been strained over the wartime labor issue as well as disputed islands, and Korean girls and women forced to work in Japanese wartime brothels, made headway last week when Seoul announced a plan for its companies to compensate former forced laborer’s. The victims who filed the lawsuit reject that plan.
Kishida has welcomed the labor compensation move and spoke of hopes of “bolstering relations” with Yoon’s visit.
Japan’s biggest business lobby, Keidanren, said it and its South Korean counterpart, the Federation of Korean Industries, agreed to launch foundations aimed at “future-oriented” bilateral relations.
Park Hong-keun, floor leader of South Korea’s main opposition Democratic Party, said Yoon’s visit should not stop at “his trip down memory lane” and asked Yoon to earn a true apology and resolution from Japan on forced labor issues during his trip.
The two leaders also met in November on the sidelines of the summit of the Association of Southeast Asian Nations in Cambodia.
South Korea and Japan at the time agreed to exchange real-time intelligence on North Korea’s missile launches, which experts say will help both countries better track potential threats.
Japan said the “strategic challenge posed by China is the biggest Japan has ever faced” in a defense strategy paper released in December. Tokyo worries that Russia’s invasion of Ukraine has set a precedent that will encourage China to attack self-ruled Taiwan.
China’s coast guard entered waters around disputed East China Sea islets on Wednesday to counter what it called the incursion of Japanese vessels into Chinese territorial waters.
Read more:
South Korea’s President Yoon to meet Japan’s PM Kishida in Tokyo
Alternative to WTO trade dispute settlement system gains steam as Japan joins
US top diplomat hails South Korea move to compensate Japan war victims

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Crown Prince of Abu Dhabi meets with CEOs of leading Norwegian companies

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has met with a group of CEOs from leading Norwegian companies, as part of their participation in the UAE-Norway Investment Forum, held alongside his official visit to the Kingdom of Norway.

During the meeting, H.H. Sheikh Khaled bin Mohamed bin Zayed underscored the UAE leadership’s commitment to strengthening economic cooperation with its international partners.

He highlighted that investment in innovation and knowledge is a cornerstone for achieving sustainable development, noting that enhancing collaboration with Norwegian companies across key sectors will open new avenues for mutual economic growth between the two countries.

The UAE-Norway Investment Forum, taking place in Oslo, aimed to highlight available investment opportunities and strengthen trade relations between the UAE and Norway, fostering shared interests and supporting innovation and knowledge-based economic visions.

-wam

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At the Indonesia International Book Fair 2024, TRENDS inaugurates 10th global office, releases four books

As part of its Asian research tour, partnership with Aletihad News Center, and
primary sponsorship of the Indonesia International Book Fair 2024, TRENDS
Research & Advisory inaugurated its office in Jakarta, marking its 10th location
worldwide. It also released four books in Indonesian.
The inauguration event was attended by ambassadors of the UAE, Bahrain, and
Jordan to Indonesia, chairpersons of the UAE and Indonesian Publishers’
Associations, the Director of TRENDS’ Jakarta office, and a group of researchers
and academics.
Speaking at the event, Dr. Mohammed Abdullah Al-Ali, CEO of TRENDS
Research & Advisory, stated that TRENDS’ international offices—set to reach 15
by the end of 2024—aim to enhance the Center’s research efforts and deepen its
role in disseminating knowledge, thus serving as a global knowledge bridge.
He emphasized, “At TRENDS, we believe in the importance of cooperation
between think tanks and prioritize this endeavor. We believe the TRENDS office in
Jakarta will enhance the exchange of knowledge and ideas between think tanks in
Asia and the Middle East, opening new horizons for collaboration in various
fields.”

Four books in Indonesian
As part of the Jakarta office’s inaugural activities, four books were released in
Indonesian, including the 11th and 12th books of the Muslim Brotherhood
Encyclopedia and Global Trends in AI and Automation and the Future of
Competition between Man and Machine: An Analytical Forward-looking Vision.

Hostility to Arab states
The 11th book of the Muslim Brotherhood Encyclopedia, The Concept of the State
According to the Muslim Brotherhood, highlights its hostile stance toward Arab
states since its inception. The group views them as an obstacle to its ascent to
power. It opposed the modern principles upon which these states were built,
considering them incompatible with the group’s unique interpretation of Islam,
which it claimed to embody exclusively.

Exclusion of nonconformists
The 12th book, The Muslim Brotherhood: Rejection of Tolerance and Exclusion of
Nonconformists, examines the Muslim Brotherhood’s stance towards
nonconformists, individuals, and entities. The book reveals the group’s binary view
of the world, categorizing others as allies or adversaries. It ties these relationships
to the Brotherhood’s internal power struggles and self-serving interests.

Global Trends in AI
The third book, Global Trends in AI, explores significant developments in AI and
its impact on various aspects of life, including the economy, society, and
governance. It also offers a comprehensive analysis of technological advancements
in AI, its applications across sectors, the ethical and social challenges it presents,
and its future trajectory.

Automation

The fourth book, Automation and the Future of Competition between Man and
Machine: An Analytical Forward-looking Vision, addresses the growing challenges
faced by the human workforce in the face of widespread automation and AI
applications. The book concludes that while automation presents a significant
challenge to the labor market, it simultaneously creates new opportunities. It
emphasizes the importance of preparing for this shift through skills development,
continuous education, and adopting economic and social policies that support the
workforce.

Prominent pavilion and active presence
The TRENDS’ pavilion at the Indonesia International Book Fair has attracted
numerous visitors, including academic researchers and officials, such as the
ambassadors of the UAE, Bahrain, Qatar, Jordan, and Turkey. Additionally,
chairpersons of Arab and Indonesian publishers’ associations, authors, publishers,
and students visited the pavilion. All were impressed with and praised TRENDS’ diverse, valuable publications. They also commended TRENDS’ active
international presence and ability to address global developments with rigorous
analytical research.
Dr. Mohammed Abdullah Al-Ali honored the esteemed guests, including
ambassadors of the UAE and Bahrain to Indonesia, Wedha Startesti Yudha,
Chairperson of the Indonesia International Book Fair Committee, Arys Hilman
Nugraha, Chairman of the Indonesian Publishers Association, and others,
presenting them with TRENDS’ publications and commemorative shields.
Additionally, he awarded TRENDS’ Research Medal to Ni Made Ayu Martini
Indonesian Deputy Minister of Marketing, Tourism and Creative Economy
It is worth noting that during its current Asian research tour, TRENDS announced
the launch of the TRENDS Research Medal, awarded to individuals who make
significant contributions to the development of scientific research and promote collaboration with TRENDS in strengthening a culture of research across various fields.

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US determined to prevent full-scale war in Middle East, Joe Biden tells UNGA79

US President Joe Biden highlighted the US Administration’s determination to prevent a wider war that engulfs the entire Middle East region, noting that a diplomatic solution “remains the only path to lasting security to allow the residents from both countries to return to their homes on the border safely”.

In remarks he made today before the 79th Session of the United Nations General Assembly (UNGA79), the US President said, “Full-scale war is not in anyone’s interest,” adding that a diplomatic solution is still possible.

He also touched on “the rise of violence against innocent Palestinians on the West Bank”, and the need to “set the conditions for a better future”, which he said featured “a two-state solution, where the world — where Israel enjoys security and peace and full recognition and normalised relations with all its neighbours, where Palestinians live in security, dignity, and self-determination in a state of their own”.

President Biden underscored the ceasefire and hostage deal put forth by Qatar and Egypt, which the UN Security Council endorsed. He said, “Now is the time for the parties to finalise its terms, bring the hostages home,” adding that this would help ease the suffering in Gaza, and end the war.

-WAM

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