'Riyadh Declaration on Future of Tourism' Adopted at Conclusion of UN Tourism Assembly 

The 26th session of the United Nations Tourism General Assembly concluded on Tuesday. (Asharq Al-Awsat)
The 26th session of the United Nations Tourism General Assembly concluded on Tuesday. (Asharq Al-Awsat)
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'Riyadh Declaration on Future of Tourism' Adopted at Conclusion of UN Tourism Assembly 

The 26th session of the United Nations Tourism General Assembly concluded on Tuesday. (Asharq Al-Awsat)
The 26th session of the United Nations Tourism General Assembly concluded on Tuesday. (Asharq Al-Awsat)

The 26th session of the United Nations Tourism General Assembly, hosted by Saudi Arabia, concluded on Tuesday with the adoption of the “Riyadh Declaration on the Future of Tourism,” which sets the foundation for international cooperation in the global tourism sector over the next 50 years.

The declaration underscores the Kingdom’s leading role as a key contributor to shaping the future of tourism and highlights Riyadh's position as a hub for major global tourism decisions. The Riyadh Declaration will serve as a pivotal framework for the tourism sector in driving Sustainable Development Goals for 2030, with a focus on sustainability, digital innovation, integration of artificial intelligence technologies, and inclusive economic growth.

Serving as a roadmap for the global tourism industry in the years ahead, the declaration focuses on boosting international cooperation, empowering local communities, and strengthening the sector's resilience to challenges.

It outlines a unified vision to promote environmental responsibility in tourism and reinforces its role as a key driver of economic growth and cultural understanding.

“As we conclude this session in Riyadh, we move from declaration to implementation,” said Saudi Minister of Tourism Ahmed Al-Khateeb. “The agreements we have signed and the platforms we have launched will drive investments, develop human capital, advance digital transformation for small and medium enterprises, and protect cultural and environmental treasures.”

“The Kingdom will continue to bring international partners together, leveraging Riyadh's hosting of the UN Tourism Regional Office for the Middle East, and will seek to achieve tangible results to ensure tourism remains a bridge between nations and a catalyst for shared prosperity,” the minister said.

“With the adoption of the Riyadh Declaration on the Future of Tourism, the international community reaffirms its commitment to fully harnessing the economic and social potential of tourism in pursuit of the Sustainable Development Goals. This adoption reflects global confidence in the Kingdom’s role as a facilitator of international dialogue and a center for collaboration among all stakeholders in the tourism sector,” he added.

Al-Khateeb told Asharq Al-Awsat that Saudi Arabia has set a target of attracting 150 million tourists by 2030, raising the figure from an initial goal of 100 million that it has already achieved.

He predicted that the Kingdom will soon be among the world’s top ten travel destinations.

At the event, member state representatives approved the appointment of Shaikha Nasser Al Nowais as the new secretary-general of the UN Tourism Organization — the first woman and the first Gulf national to hold the position. Her term will begin on January 1, 2026.

She told Asharq Al-Awsat that she will prioritize sustainable and responsible growth, digital transformation, smart tourism, local empowerment, developing infrastructure, bolstering air connectivity, and transparency, among other issues.

The conclusion of the assembly marked the official launch of the “TOURISE Forum,” a global initiative introduced by the Kingdom to deepen cooperation between the public and private sectors and to advance innovation in the global tourism industry.

The forum will serve as a platform for public and private sector leaders to collaborate on promoting digital transformation, sustainability, impactful investments, and workforce development to prepare the sector for future challenges and opportunities.



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.


Europe, Türkiye Agree to Work Toward Updating Customs Union

European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal
European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal
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Europe, Türkiye Agree to Work Toward Updating Customs Union

European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal
European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal

The European enlargement chief and the Turkish foreign minister said on Friday they had agreed to continue work toward modernizing the EU-Türkiye customs union and to improve its implementation, Reuters reported.

European Commissioner for Enlargement Marta Kos met Turkish Foreign Minister Hakan Fidan in the capital Ankara on Friday.

"They shared a willingness to work for paving the way for the modernization of the Customs Union and to achieve its full potential in order to support competitiveness, and economic security and resilience for both sides," they said in a joint statement afterward.

The sides also welcomed the gradual resumption of European Investment Bank (EIB) operations in Türkiye and said they intended to support projects across the country and neighbouring regions in cooperation with the bank.