Chinese vice premier meets senior officials from Micronesia, Mongolia

China

Chinese vice premier meets senior officials from Micronesia, Mongolia

2025-03-26 19:59 Last Updated At：03-27 12:37

Chinese Vice Premier Ding Xuexiang on Wednesday separately met with Micronesian Vice President Aren B. Palik and Mongolian First Deputy Prime Minister and Minister of Economy and Development Luvsannyam Gantumur.

Both Palik and Gantumur were in China to attend the Boao Forum for Asia (BFA) 2025 Annual Conference, which opened in Boao Town of south China's Hainan Province on Tuesday.

At the meeting with Palik, Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said that the important consensus reached between Chinese President Xi Jinping and Micronesian President Wesley W. Simina during their talks held last year charts the course for the development of China-Micronesia relations.

The two sides should enhance political mutual trust, firmly support each other's core interests and major concerns, and actively explore cooperation in trade, investment, infrastructure and the maritime economy, said Ding.

The Chinese vice premier also said China and Micronesia should work together to cope with climate change and make new progress in China-Micronesia comprehensive strategic partnership.

Palik said that Micronesia is firmly committed to the one-China principle, and firmly support China's positions on issues concerning its core interests, such as those related to Taiwan, Hong Kong, Xinjiang, and the South China Sea.

The Micronesian side will deepen cooperation with China in jointly coping with climate change, Palik said.

When meeting with Gantumur, Ding said that developing long-term good-neighborly relations with Mongolia serves the fundamental interests of the two peoples.

Ding said China is ready to work with Mongolia to implement the important consensus reached between the heads of state of the two countries, consolidate political mutual trust and further expand cooperation, so as to bring China-Mongolia relations to new heights.

Gantumur said that Mongolia firmly abides by the one-China principle, and is willing to promote cooperation with China in various fields including connectivity, energy, minerals, and high and new technology in the interest of the two peoples.

Spillover effects of Middle East conflict push up prices in Ethiopia

The spillover effects of the ongoing Middle East conflict have driven up commodity prices in Ethiopia, taking a heavy toll on people's daily life, especially for the low-income population.

With U.S.-Israeli joint military strikes on Iran now exceeding one month and no clear resolution in sight, the economic aftershocks are spreading far beyond the Middle East.

As part of its response to U.S. and Israeli operations, Iran has restricted navigation through the Strait of Hormuz, targeting ships associated with the United States and Israel. The blockade of this vital global energy route has driven up oil and gas prices worldwide.

In Addis Ababa, the Ethiopian capital, long queues of vehicles could be seen at gas stations waiting for fuel. Prices of other goods are also on the rise.

"The prices of goods are going up every day. If the conflict continues, life will become very hard, especially for people with low incomes," said Zeynu Yelma, a shop owner.

Beyond rising living costs, the surge in prices has also hit the local construction industry.

"Over the past two weeks, the prices of building materials have risen sharply, severely affecting our work. The price of cement has nearly doubled. Sand and gravel costs continue to rise. The price of steel has also surged. If this trend continues, I'm afraid our work may have to stop," said Yetbarek Workenhe, manager of a construction site.

Although local authorities have been working to secure supplies, provide subsidies, and prioritize public services, the severe international situation continues to widen the supply gap.