MEDports Association Studies Development Prospects amid COVID-19

UfM webinar on maritime transport: ports must remain fully operational with all their regular services in place. Copyright: UfM
UfM webinar on maritime transport: ports must remain fully operational with all their regular services in place. Copyright: UfM
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MEDports Association Studies Development Prospects amid COVID-19

UfM webinar on maritime transport: ports must remain fully operational with all their regular services in place. Copyright: UfM
UfM webinar on maritime transport: ports must remain fully operational with all their regular services in place. Copyright: UfM

In view of the disruption generated by the COVID-19 pandemic on the maritime networks, the Union for the Mediterranean (UfM) and the MEDports Association co-hosted a webinar with key sectorial partners to discuss how to enhance the sustainability and resilience of ports and maritime transport in the Mediterranean region during and after the pandemic.

The virtual meeting saw the participation of the International Association of Ports and Harbours (IAPH), the International Transport Forum at the OECD (ITF), the Institut Supérieur d’Économie Maritime (ISEMAR), the International Maritime Organisation (IMO), the United Nations Conference for Trade and Development (UNCTAD) and the European Commission (EC), as well as port authorities from the Mediterranean region and other areas across the globe.

The participants stressed that the Mediterranean Sea has been a critical maritime and commercial route for millennia and today. It is home to 87 ports of various sizes and strengths, serving local, regional, and international markets.

The COVID-19 pandemic has showcased the vulnerability of maritime networks, port efficiency, and hinterland connectivity in the Mediterranean to crisis situations.

Hervé Martel, President of the MEDports Association and CEO of the Port Maritime de Marseille, stated that: “We must anticipate and monitor the consequences of this crisis and contribute to building the day after through the implementation of new and more integrated innovative solutions in the Mediterranean basin aimed at advancing the ecological transition, the organizational renewal of regional logistics chains -in particular through the development of Motorways of the Sea services-, the industrial transition -including through relocation and re-regionalization of certain productive systems- and, finally, improving skills and qualifications to deal with all these changes.”

For his part, UfM Secretary General Nasser Kamel highlighted that: “The maritime industry is playing an essential role in the short-term emergency response to the pandemic, by facilitating the transport of vital commodities and products, thus sustaining jobs, international trade, and the global economy. Today, the UfM encourages regional partners to share good practices in the recovery phase so, in the final analysis, we succeed in keeping supply chains open at all times ensuring a continuous flow of maritime trade, while safeguarding health, safety and the well-being of the maritime transport community.”

Hervé Martel, President of the MEDports Association and CEO of the Port Maritime de Marseille, stated that: “We must anticipate and monitor the consequences of this crisis and contribute to building the day after through the implementation of new and more integrated innovative solutions in the Mediterranean basin aimed at advancing the ecological transition, the organizational renewal of regional logistics chains -in particular through the development of Motorways of the Sea services-, the industrial transition -including through relocation and re-regionalization of certain productive systems- and, finally, improving skills and qualifications to deal with all these changes.”

It was concluded that, with due regard to the protection of public health, ports must remain fully operational with all their regular services in place, guaranteeing complete functionality of the supply chains. Also, governments were called upon to support shipping, ports and transport operators in view of best practices.

The participants reiterated that the maritime transportation system will only be sustainable when it delivers safe, secure, efficient and reliable transport of goods across the world, while minimizing pollution, maximizing energy efficiency and ensuring resource conservation.

It was underlined that, in the maritime sector, resilience means that ports, and the organizations that depend on ports, can adapt to changing conditions and, when disruptions occur, they can recover quickly and resume business stronger than before.

Furthermore, it was noted that the COVID-19 pandemic could be an opportunity for the maritime industry to change the way the industry operates so as to effectively contribute to broader systemic resilience.

IAPH Managing Director Patrick Verhoeven highlighted that the crisis has painfully demonstrated that many ports are still lagging behind in terms of electronic commerce and data exchange. Acceleration of digitalization must, therefore, be a top priority in the post-COVID-19 era.

Meanwhile, Julian Abril Garcia, IMO Head of Facilitation, called for governments’ attention stating that “as of mid-June, around 150,000 seafarers per month will require international flights to ensure that crew changeovers can take place”.

Paul Tourret, Director of ISEMAR, stressed that we need to first understand the effects of the lockdown to build the recovery plan of the sector in the next month.

Nelly Asteriou and Szymon Oscislowski informed the participants that the EC introduced various short-term relief measures to maintain the freight flows, preserve the supply chains, protect crews and relieve current financial pressures on economic operators, along with medium to long term recovery measures to address economic recovery and ensure the sustainable development of the EU maritime industry over the years to come.



Saudi Arabia, Syria Sign Joint Airline and Telecoms Deals

Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
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Saudi Arabia, Syria Sign Joint Airline and Telecoms Deals

Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)

Syria and Saudi Arabia signed deals Saturday that include a joint airline and a $1-billion project to develop telecommunications, officials said, as Syria seeks to rebuild after years of war.

The new authorities in Damascus have worked to attract investment and have signed major agreements with several companies and governments.

Syrian Investment Authority chief Talal al-Hilali announced a series of deals including "a low-cost Syrian-Saudi airline aimed at strengthening regional and international air links".

The agreement also includes the development of a new international airport in the northern city of Aleppo, and redeveloping the existing facility.

Hilali also announced an agreement for a project called SilkLink to develop Syria's "telecommunications infrastructure and digital connectivity".

Syrian Telecommunications Minister Abdulsalam Haykal told the signing ceremony that the project would be implemented "with an investment of around $1 billion".

For decades, Syria was unable to secure significant investments because of Assad-era sanctions.

But the United States fully removed its remaining sanctions on Damascus late last year, paving the way for the full return of investments.

Syria and Saudi Arabia also inked an agreement on water desalination and development cooperation on Saturday.

At the ceremony, Saudi Investment Minister Khalid Al-Falih announced the launch of an investment fund for "major projects in Syria with the participation of the (Saudi) private sector".

The deals are part of "building a strategic partnership" between the two countries, he said.

Syria's Hilali said the agreements targeted "vital sectors that impact people's lives and form essential pillars for rebuilding the Syrian economy".

Syria has begun the mammoth task of trying to rebuild its shattered infrastructure and economy.

In July last year, Riyadh signed investment and partnership deals with Damascus valued at $6.4 billion to help rebuild the country's infrastructure, telecommunications and other major sectors.

A month later, Syria signed agreements worth more than $14 billion, including investments in Damascus airport and other transport and real estate projects.

This week, Syria signed a preliminary deal with US energy giant Chevron and Qatari firm Power International to explore for oil and gas offshore.


India’s Modi Lauds Interim Trade Pact After US Tariff Rollback

Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
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India’s Modi Lauds Interim Trade Pact After US Tariff Rollback

Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)

Indian Prime Minister Narendra Modi on Saturday hailed an interim trade agreement with the United States, saying it would bolster global growth and deepen economic ties between the two countries.

The pact cuts US "reciprocal" duties on Indian products to 18 percent from 25 percent, and commits India to large purchases of US energy and industrial goods.

US President Donald Trump, while announcing the deal Tuesday, had said Modi promised to stop buying Russian oil over the war in Ukraine.

The deal eases months of tensions over India's oil purchases -- which Washington says fund a conflict it is trying to end -- and restores the close ties between Trump and the man he describes as "one of my greatest friends."

"Great news for India and USA!" Modi said on X on Saturday, praising US President Donald Trump's "personal commitment" to strengthening bilateral ties.

The agreement, he said, reflected "the growing depth, trust and dynamism" of their partnership.

Modi's remarks came hours after Trump issued an executive order scrapping an additional 25 percent levy imposed over New Delhi's purchases of Russian oil, in a step to implement the trade deal announced this week.

Modi, who has faced criticism at home about opening access of Indian agricultural markets to the United States and terms on oil imports, did not mention Russian oil in his statement.

"This framework will also strengthen resilient and trusted supply chains and contribute to global growth," he said.

It would also create fresh opportunities for Indian farmers, entrepreneurs and fishermen under the "Make in India" initiative.

In a separate statement, Commerce Minister Piyush Goyal said the pact would "open a $30 trillion market for Indian exporters".

Goyal also said the deal protects India's sensitive agricultural and dairy products, including maize, wheat, rice, soya, poultry and milk.

Other terms of the agreement include the removal of tariffs on certain aircraft and parts, according to a separate joint statement released Friday by the White House.

The statement added that India intends to purchase $500 billion of US energy products, aircraft and parts, precious metals, tech products and coking coal over the next five years.

The shift marks a significant reduction in US tariffs on Indian products, down from a rate of 50 percent late last year.

Washington and New Delhi are expected to sign a formal trade deal in March.


Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
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Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth

Gold rebounded on Friday and was set for a weekly gain, helped by bargain hunting, a slightly weaker dollar and lingering concerns over US-Iran talks in Oman, while silver recovered from a 1-1/2-month low.

Spot gold rose 3.1% to $4,916.98 per ounce by 09:31 a.m. ET (1431 GMT), recouping losses posted during a volatile Asia session that followed a fall of 3.9% on Thursday. Bullion was headed for a weekly gain of about 1.3%.

US gold futures for April delivery gained 1% to $4,939.70 per ounce.

The US dollar index fell 0.3%, making greenback-priced bullion cheaper for the overseas buyers.

"The gold market is seeing perceived bargain hunting from bullish traders," said Jim Wyckoff, senior analyst at Kitco Metals.

Iran and the US started high-stakes negotiations via Omani mediation on Friday to try to overcome sharp differences over Tehran's nuclear program.

Wyckoff said gold's rebound lacks momentum and the metal is unlikely to break records without a major geopolitical trigger.

Gold, a traditional safe haven, does well in times of geopolitical and economic uncertainty.

Spot silver rose 5.3% to $74.98 an ounce after dipping below $65 earlier, but was still headed for its biggest weekly drop since 2011, down over 10.6%, following steep losses last week as well.

"What we're seeing in silver is huge speculation on the long side," said Wyckoff, adding that after years in a boom cycle, gold and silver now appear to be entering a typical commodity bust phase.

CME Group raised margin requirements for gold and silver futures for a third time in two weeks on Thursday to curb risks from heightened market volatility.

Spot platinum added 3.2% to $2,052 per ounce, while palladium gained 4.9% to $1,695.18. Both were down for the week.