1. German cable firm Leoni opens new factory in Morocco
Leoni AG, a leading global provider of energy and data management solutions in the automotive sector, has recently inaugurated a new state-of-the-art production facility in Agadir, Morocco. This strategic move underscores Leoni’s commitment to expanding its presence in the burgeoning North African automotive market.
Investment and Job Creation
The new plant represents a significant investment of approximately $21 million and is expected to create over 3,000 jobs by 2027. This development is a major boost for the local economy, providing numerous employment opportunities and contributing to the region’s industrial growth.
Focus on Digitalisation and Sustainability
Leoni’s Agadir facility is designed with a strong emphasis on digitalisation, efficiency, and sustainability. The plant is equipped with advanced technologies that ensure high levels of automation and operational excellence. In line with Morocco’s national sustainability goals, the facility incorporates energy-efficient technologies to minimise its carbon footprint.
Strategic Importance
The decision to establish the new site in Agadir highlights the strategic importance of Morocco in the global automotive industry. The location offers proximity to key commercial vehicle manufacturers and benefits from a skilled workforce and modern infrastructure. This positions Agadir as a new industrial hub, enhancing its attractiveness to international investors.
Commitment to Community Development
Beyond its economic impact, Leoni is also committed to supporting regional development projects. The company plans to invest in educational programs and other community initiatives, fostering local talent and contributing to the overall development of the region.
Conclusion
Leoni’s new Agadir site is a testament to the company’s strategic vision and commitment to growth in the commercial vehicle segment. By leveraging advanced technologies and focusing on sustainability, Leoni is well-positioned to strengthen its competitiveness and drive future growth in the global automotive market.
2. Tata opens new delivery centre in France
Toulouse, France – Tata Consultancy Services (TCS), a global leader in IT services, consulting, and business solutions, has inaugurated a new state-of-the-art delivery centre in Toulouse, France. This facility is set to revolutionise the aerospace and defence industries by leveraging cutting-edge technologies such as artificial intelligence (AI), generative AI, machine learning, and data analytics.
Strategic Location and Purpose
The new delivery centre is strategically located in Blagnac, near Toulouse Airport, a major hub for the aerospace sector in Europe. This proximity allows TCS to work closely with key industrial players, enhancing collaboration and innovation. The centre aims to facilitate AI-driven transformation, improving aircraft design, manufacturing, and maintenance processes for European clients.
Technological Advancements
TCS’s new facility will focus on several key areas:
– Enhancing Fuel Efficiency: Utilising AI to develop advanced materials for lighter aircraft structures.
– Predictive Maintenance: Implementing machine learning algorithms to minimise downtime and improve safety.
– Redefining Passenger Experience: Leveraging data analytics to create more efficient and comfortable travel experiences.
Commitment to Innovation
Anupam Singhal, President of Manufacturing at TCS, emphasised the company’s dedication to driving future-ready manufacturing within the aerospace industry. “By harnessing the power of AI and our deep domain expertise, we aim to achieve new heights of efficiency, sustainability, and innovation,” he said.
Long-Term Vision
TCS has been present in France for over 30 years, supporting some of the largest European businesses in their digital transformation journeys. The company plans to double its workforce in the region, reflecting its long-term commitment to fostering economic growth and innovation. The new delivery centre in Toulouse joins TCS’s existing hubs in Lille, Poitiers, and Paris-Suresnes, further strengthening its presence in France.
Conclusion
The inauguration of the AI-driven delivery centre in Toulouse marks a significant milestone for TCS and the aerospace industry. By combining local engagement with global capabilities, TCS is poised to lead the way in transforming the future of aircraft production and maintenance, ensuring safer, more efficient, and sustainable skies.
3. INEOS & KUM collaborate on baseline survey ocean floor carbon capture
INEOS Energy DK has partnered with K.U.M. Umwelt- und Meerestechnik Kiel (K.U.M.), a leading subsea technology company, to enhance the monitoring of seismic activity for the North Sea Carbon Storage Project, known as Project Greensand. This collaboration marks a significant step in ensuring the safety and effectiveness of carbon capture and storage initiatives in the region.
Innovative Seismic Monitoring
K.U.M. will deploy and operate their advanced NAMMU ocean bottom seismometers to conduct pre-injection baseline seismicity surveys. These surveys are crucial for establishing a comprehensive understanding of the seismic environment before the injection of CO2 begins. The NAMMU OBS systems are renowned for their reliability, boasting a 99% recovery success rate and the capability to operate autonomously for up to 36 months.
Project Greensand: A Pioneering CCS Initiative
Project Greensand aims to store up to 400,000 tonnes of CO2 annually within a geological reservoir in the Siri-Fairway region of the central North Sea. This project represents the first phase of an ambitious plan to scale storage capacity to 8 million tonnes per year, incorporating both biogenic and fossil CO2 as volumes increase. The initiative is designed to establish a full industrial CCS value chain on a scalable platform, supporting the gradual expansion of storage capabilities.
Ensuring Safety and Compliance
The deployment of the OBS network is scheduled for early 2025, with storage operations expected to commence in late 2025 or early 2026. K.U.M. will not only deploy the OBS systems but also conduct comprehensive data analysis, producing seismicity bulletins and catalogues in line with international standards. This underscores K.U.M.’s position as a leader in marine seismic monitoring for offshore CCS projects in Europe.
A Milestone for Climate Action
The INEOS-led Project Greensand reached a Final Investment Decision (FID) in December 2024, marking its transition to the first commercial phase. With over $150 million in investments across the Greensand value chain, this project is poised to become the EU’s first operational CO2 storage site aimed at mitigating climate change. By showcasing the feasibility of large-scale capture and storage projects, Greensand inspires confidence among European industry leaders and emitters, supporting Denmark and the EU in meeting climate targets.
4. Israeli trade delegation visits Athens to strengthen economic ties
Ο υπουργός Εξωτερικών Γιώργος Γεραπετρίτης (Δ) και ο υπουργός Εξωτερικών του Ισραήλ, Ελι Κοέν (Α) προσέρχονται για τις κοινές δηλώσεις στον Τύπο μετά τη συνάντησή τους στο υπουργείο Εξωτερικών, Αθήνα Πέμπτη 6 Ιουλίου 2023. ΑΠΕ-ΜΠΕ/ΑΠΕ-ΜΠΕ/ΟΡΕΣΤΗΣ ΠΑΝΑΓΙΩΤΟΥ
In a significant move to bolster economic relations, a high-level trade delegation from Israel visited Athens on January 23, 2025. The delegation aimed to explore and enhance Greek-Israeli cooperation in various sectors, including technology, industry, energy, exports, pharmaceuticals, health services, and agriculture.
The visit, coordinated by Israel’s Foreign Ministry’s Economic Division, included meetings with top Greek government officials and major trade organisations such as the Athens Chamber of Commerce and Enterprise Greece. The delegation was led by Dr. Ron Tomer, President of the Manufacturers Association of Israel, and included key figures like Ambassador Yael Ravia-Zadok, the ministry’s Deputy Director General for Economics.
During the visit, both sides emphasised the potential for increased cooperation and the importance of strengthening economic ties. Dr. Tomer highlighted the historical bond between Greece and Israel, noting Greece’s consistent support even amid recent conflicts. He pointed out that Israeli exports, particularly in chemicals, basic metals, plastic products, and electrical machinery, have significant room for growth.
Yael Ravia-Zadok underscored the strategic significance of the partnership, highlighting joint projects in energy, including an undersea cable linking the countries’ electricity grids. This project is seen as foundational to regional stability and economic development.
Trade between the two nations has already surged by 41.3% from 2023 to 2024, increasing from $920 million to $1.3 billion. Israeli exports to Greece totaled $353.4 million in 2024, while Greece exported $902.8 million worth of goods to Israel.
The visit marks a pivotal moment in Greek-Israeli relations, with both countries looking forward to a future of deeper economic collaboration and shared growth.
Thailand Signs EFTA Trade Deal
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In a strategic move to diversify its trade partnerships and mitigate the impact of potential U.S. tariffs, Thailand has signed a landmark Free Trade Agreement with the European Free Trade Association. The agreement, finalized during the World Economic Forum in Davos, Switzerland, includes Iceland, Liechtenstein, Norway, and Switzerland
Strengthening Economic Ties
The FTA marks Thailand’s first trade agreement with European nations, a significant milestone in the country’s economic diplomacy. Prime Minister Paetongtarn Shinawatra, who presided over the signing ceremony, emphasized the agreement’s potential to enhance Thailand’s competitiveness, boost exports, and attract investment in emerging industries such as artificial intelligence, data centers, and advanced manufacturing.
Economic Benefits and Key Sectors
The agreement is expected to generate billions in economic benefits and position Thailand as a leading investment hub. Key Thai exports poised to benefit include jewelry, watches, machinery, air conditioners, plastics, and rice. In return, Thailand will import pharmaceuticals, chemicals, and scientific equipment from EFTA member nations. Trade between Thailand and EFTA countries reached $11.79 billion in 2024, representing a 19.22% year-on-year growth.
A Hedge Against U.S. Tariffs
The FTA comes at a crucial time as Thailand faces potential tariff increases from the United States. Under the Trump administration, U.S. tariffs on Thai exports could rise significantly, affecting up to 25% of Thailand’s total exports to the U.S. This scenario has prompted Thailand to seek alternative markets to reduce its reliance on the U.S. and mitigate the adverse effects of protectionist trade policies.
Future Prospects
Commerce Minister Pichai Naripthaphan noted that the FTA could pave the way for future agreements with the European Union, the United Arab Emirates, and other strategic partners. The Ministry of Commerce will release the agreement’s details for public consultation before submitting it to Parliament, with legal adjustments expected to be finalized within a year.
Conclusion
Thailand’s new trade deal with the EFTA represents a proactive approach to securing its economic future amidst global trade uncertainties. By expanding its trade network and reducing dependency on the U.S. market, Thailand is positioning itself for sustained growth and innovation in the years to come.
Nigeria hosts Healthcare Manufacturer in Free Trade Zone
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In a significant move to boost Nigeria’s healthcare and manufacturing sectors, the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, announced plans to host a healthcare manufacturer in one of the country’s free trade zones. This announcement was made during an interview at the World Economic Forum in Davos, Switzerland.
Dr. Oduwole revealed that her ministry, in collaboration with the Federal Ministry of Health and Social Welfare, is working to bring a healthcare manufacturer into the free trade zone. The aim is to manufacture public healthcare goods in Nigeria, which will then be exported to other countries. This initiative is part of Nigeria’s broader strategy to attract foreign investments, stimulate job creation, and enhance the country’s export capacity.
The Minister emphasized the strategic focus of the Nigerian delegation at Davos, which is to promote investment in Nigeria’s services sector. By positioning Nigeria as a hub for outsourced services, similar to the Philippines and India, the country aims to create more jobs and boost its economy.
Dr. Oduwole also addressed the absence of a dedicated “House” for Nigeria at Davos, explaining that the delegation’s primary goal is to sell services and attract investments, rather than participate in a showcase[. This pragmatic approach underscores Nigeria’s commitment to leveraging its competitive advantages to drive economic growth.
The establishment of a healthcare manufacturer in the free trade zone is expected to have a significant impact on Nigeria’s healthcare sector. It will not only improve the availability of healthcare products but also create employment opportunities and contribute to the country’s economic development.
As Nigeria continues to pursue its goal of becoming a major player in the global healthcare market, the collaboration between the Ministry of Industry, Trade, and Investment and the Federal Ministry of Health and Social Welfare marks a crucial step towards achieving this vision.
