During a recent meeting, China and the United States have agreed to prohibit additional tariffs in a deal which will help prevent the ongoing trade war between them. This stop has been set for a 90-day interval. During this, the two countries will try to overcome their differences through a fresh dialogue.
President Donald Trump told Chinese President Xi Jinping during negotiations in Argentina that he will not increase the tariff by 25% on the $ 200 billion Chinese goods from January 1. It is worth noting that earlier on January 1, heavy tariffs were announced on Chinese goods.
In return, China is ready to buy an unspecified (unspecified) but adequate quantity of agricultural, energy, industrial and other products from the United States.
This agreement, of course, will effectively help in preventing the ongoing economic collision between the two countries.
It has been proven many times by the fact that the interest of both China and the United States is inherent in the interaction between them, not in the confrontation.
New business negotiations
Why in the discussion?
Recently, Qatar has announced the separation from the Organization of Petroleum Exporting Countries (OPEC) i.e. OPEC in January 2019.
Reason for Qatar to be separated from OPEC
Due to the separation of OPEC, Saudi Arabia may also be accused of supporting terrorism on Qatar, but Qatar has been telling the allegations baseless.
Qatar says that it is being separated from OPEC because it wants to focus on natural gas production.
Some analysts considered the decision of the separation of Qatar from the OPEC as a political decision against Saudi Arabia.
Qatar’s decision impacts on OPEC
Perhaps the decision to separate Qatar from OPEC will have no lasting effect on the price of oil because it is a relatively small producer of oil.
Qatar is the 11th position in oil production in OPEC, so it can be said that Qatar is one of the smallest producers of oil in the OPEC, Qatar’s contribution to the mass production of oil is less than 2%.
So far, Qatar has been an OPEC ally to India. In the coming time, relations between India and Qatar can change because Qatar is the world’s largest natural gas producer. Its share is 30% of the total global production of natural gas.
Better trade relations between India and Qatar can be established for the way the use of liquid natural gas is increasing in India.
Apart from this, if OPEC decides to cut oil production and exports in the future, then India can freely turn to Qatar for oil imports.
But India has good relations with Saudi Arabia and Saudi Arabia is the world’s largest oil exporter. In such a case, it is necessary for India to take action by thinking and thinking.
OPEC is a permanent, inter-governmental organization that was formed by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela at the Baghdad Conference held on 10-14 September 1960.
After these five founding members, some other members were included in this, these are the countries-
Indonesia (1961), Indonesia (1962), Libya (1962), United Arab Emirates (1967), Algeria (1969), Nigeria (1971), Ecuador (1973), Angola (2007), Gabon (1975), Equatorial Guinea ( 2017) and Congo (2018)
Ecuador had abandoned its membership in December 1992, but in October 2007 he joined the OPEC again.
Indonesia abandoned its membership in January 2009. It was actively involved in it again in January 2016, but in the 171th meeting of the OPEC Conference on November 30, 2016, it again decided to postpone its membership.
Gabon gave up his membership in January 1995. However, in July 2016 he joined the organization again.
So, currently the number of member countries in this organization is 15 and after the separation of Qatar, the number of member countries will be 14.
After the OPEC came into being, its headquarters were in Geneva, Switzerland for five years in the beginning. On September 1, 1965, its headquarters were transferred to Vienna, Austria.