QUAD for Climate Action: The Quad was born in response to a natural calamity, the tsunami of 2004. It is unified in saving the planet from environmental degradation with economic development and sustainable growth. Areas in which Quad can work: Energy: QUAD can drive inclusive energy transition in technology, manufacturing and finance. In terms of …
The European Union has released a new Indo-Pacific strategy for boosting economic, political and defence ties in the Indo-Pacific. Why an EU Strategy for the Indo-Pacific? The Indo-Pacific region is increasingly becoming strategically important for the EU. The EU is already the top investor, the leading development cooperation partner and one of the biggest trading partners in …
Context: Nord Stream project is being opposed by Ukraine, US and most of European countries (except Austria, Germany, Hungary, and the Netherlands). Why the Nord Stream 2 project is important for Germany? It provides energy security for Germany. According to data from 2015, Germany has only around 10% of its natural gas resources from its …
Nord Stream Pipeline : A Geopolitical weapon – UPSC Read More »
SAARC Swap Framework The Framework on Currency Swap Arrangement for SAARC Member Countries was formulated with the intention to provide a line of funding for short term foreign exchange requirements or to meet the balance of payments crises till longer-term arrangements are made or the issue is resolved in the short-term itself. It was approved by the …
The 4th BIMSTEC Summit concluded in Kathmandu with signing and adoption of Kathmandu Declaration by all the seven members (India, Nepal, Bangladesh, Bhutan, Sri Lanka, Myanmar and Thailand). Kathmandu Declaration 18-point Kathmandu Declaration aims to enhance effectiveness of BIMSTEC Secretariat by engaging it in various technical and economic activities in the region. It acknowledges …
BRICS 10th Summit: The 10th summit, framed its deliberations against U.S. President Donald Trump’s unconventional approach on world affairs, particularly the looming trade wars. BRICS leaders, stressed “the centrality of the rules-based, transparent, non-discriminatory, open and inclusive multilateral trading”, based on the World Trade Organisation. This stemmed from their broader commitment to cooperate for strengthening …
Challenges: Slow pace of negotiations on services trade liberalization as opposed to ‘higher priority’ being accorded to commitments to open up goods trade in the region. While it was decided that negotiations on trade in goods, trade in services, investment and other areas will be conducted in parallel to ensure a comprehensive and balanced outcome. …
Facts: India’s financial assistance to SAARC neighbours declined considerably in the past five years. The one exception was the Maldives, to which Indian assistance has been consistently increasing year on year since 2013, despite the dip in bilateral ties. Reason for decline in financial assistance: In Afghanistan, India has shifted to work on small development …
Regional Comprehensive Economic Partnership RCEP is the proposed mega-regional Free Trade Agreement (FTA) between 16 Asia-Pacific countries. It includes India, China, Japan, South Korea, Australia, New Zealand and the 10-member ASEAN bloc. The RCEP negotiation process had started in 2013 and is unlikely to be concluded by the end of 2016. The proposed FTA aims …
Mercosur is a sub-regional bloc of South American Countries. Its purpose is to promote free trade and the fluid movement of goods, people, and currency Its full members are Argentina, Brazil, Paraguay, Uruguay and Venezuela. Its associate countries are Bolivia, Chile, Peru, Colombia, Ecuador and Suriname The Mercusor trading bloc was established in 1991 …