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192 UPU Member Countries Agree to Adopt 'Riyadh Solution'

The UPU conference will continue in the capital, Riyadh, until October 5. SPA
The UPU conference will continue in the capital, Riyadh, until October 5. SPA
TT
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192 UPU Member Countries Agree to Adopt 'Riyadh Solution'

The UPU conference will continue in the capital, Riyadh, until October 5. SPA
The UPU conference will continue in the capital, Riyadh, until October 5. SPA

The Fourth Extraordinary Conference of the Universal Postal Union (UPU) in Riyadh announced the adoption of what has been referred to as the "Riyadh Solution" that enhances interconnection and integration in the global postal sector.

The decision is a result of discussions over the years, which resulted in major proposals and recommendations to develop the logistics sector, enhance cooperation between members of the UPU and other postal sector entities, and raise the quality of global postal services through the UPU opening its doors to expand the scope of its products and services.

The initiatives proposed in the Riyadh Solution also include the establishment of customized business models, aiming to facilitate the access of further parties other than the designated operators or official postal institutions to the services of the UPU.

The decision aims to enhance cooperation and partnership among members and improve postal services on a global scale, developing the global postal network and enhancing its interconnectedness.

The UPU conference will continue in the capital, Riyadh, until October 5, and will bring together decision-makers, experts, and stakeholders from around the world to review opportunities for improvement and discuss innovative solutions for the global postal sector. The Riyadh Solution is a major step forward in creating a more integrated and efficient global postal system that meets the evolving needs of people and businesses worldwide.

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UK Treasury Chief Heading to China to Revive Suspended Economic, Financial Talks

FILE PHOTO: Chancellor Rachel Reeves speaks to the media after a tour of Maidstone Hospital on December 10, 2024 in Maidstone, Britain. Dan Kitwood/Pool via REUTERS/File Photo
FILE PHOTO: Chancellor Rachel Reeves speaks to the media after a tour of Maidstone Hospital on December 10, 2024 in Maidstone, Britain. Dan Kitwood/Pool via REUTERS/File Photo
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UK Treasury Chief Heading to China to Revive Suspended Economic, Financial Talks

FILE PHOTO: Chancellor Rachel Reeves speaks to the media after a tour of Maidstone Hospital on December 10, 2024 in Maidstone, Britain. Dan Kitwood/Pool via REUTERS/File Photo
FILE PHOTO: Chancellor Rachel Reeves speaks to the media after a tour of Maidstone Hospital on December 10, 2024 in Maidstone, Britain. Dan Kitwood/Pool via REUTERS/File Photo

Britain's Treasury chief is travelling to China this weekend to discuss economic and financial cooperation between the countries, as the UK's Labour government seeks to reset strained ties with Beijing.
The Treasury said Friday that Rachel Reeves will travel to Beijing and Shanghai and will meet with her Chinese government counterpart, Vice Premier He Lifeng, Reuters reported.
Reeves' trip is expected to revive the China-UK Economic and Financial Dialogue — annual bilateral talks that have been suspended since 2019 due to the COVID-19 pandemic and deteriorating relations in recent years.
A series of spying allegations from both sides, China’s support for Russia in the Ukraine war and a crackdown on civil liberties in Hong Kong, a former British colony, have soured ties.
Bank of England Governor Andrew Bailey and the UK Financial Conduct Authority's chief executive, Nikhil Rathi, are also in the delegation, according to the Treasury. Representatives from some of Britain’s biggest financial services firms will join the trip.
Officials did not provide details, but media reports have said senior executives from HSBC Holdings and Standard Chartered were included.
Reeves' visit comes after Foreign Secretary David Lammy travelled to China in October and Prime Minister Keir Starmer met with Chinese President Xi Jinping on the sidelines of the G20 summit in Brazil in November.
The meetings form part of a bid by Starmer, who was elected as leader in July, to strengthen political and economic ties with China, the UK's fifth-largest trading partner.
Officials said Starmer wanted a “pragmatic” approach to working with Beijing on global stability, climate change and the transition to clean energy.
But some in the opposition Conservative Party have criticized his stance and said trade ties should not come at the expense of national security and human rights concerns.
British political leaders and intelligence chiefs have warned repeatedly of the security threats that China poses. Calls to tackle the challenge grew louder last month when it emerged that an alleged Chinese spy had cultivated close ties with Prince Andrew and carried out “covert and deceptive activity” for China's ruling Communist Party, according to officials.
Nevertheless, Lammy told reporters in London on Thursday that “there are many areas of trade that don’t impact on national security.”
He said Reeves “will repeat many of the messages that I took to China.”
“What we’ve said is in this complex relationship with a global superpower, we are guided by three Cs”: challenge, compete and cooperate, for example in areas including health and climate challenges, Lammy added.