1. Significant positive impact on India-UAE trade from India-UAE CEPA
Tags: International Relations International News
The India-UAE Comprehensive Economic Partnership Agreement (CEPA) that came into force on 1 May 2022 is creating a significant positive impact on India-UAE trade.
Important facts
Indian exports to the UAE, excluding petroleum products, grew from US$ 5.17 billion during June-August 2021 to US$ 5.92 billion during June-August 2022.
It denotes an increase of 14% of Indian exports.
India’s global non-petroleum exports during the same period (Jun-Aug 2022) grew by 3% on an annual basis.
This implies that the growth rate of India's non-petroleum exports to UAE is about 5 times that of India's non-petroleum exports to the world.
According to the Commerce and Industry Ministry Indian imports from the UAE during the same period also grew from 5.56 billion dollar to 5.61 billion dollar.
India-UAE Comprehensive Economic Partnership Agreement (CEPA)
It was signed on 18 February 2022, during the India-UAE Virtual Summit.
It came into force on 1 May 2022.
It provides for an institutional mechanism to encourage and improve trade between the two countries.
CEPA is a type of free trade agreement that covers trade in services and investment and negotiations on other areas of economic partnership.
2. Piyush Goel attends G 20 ministers WTO Dispute Settlement reforms meeting in Bali
Tags: place in news Summits International News
The Indian Commerce minister Piyush Goel in a tweet said that he participated in a discussion on WTO’s Dispute Settlement Reform that was convened by the United States Trade Representative (USTR) Katherine Tai on the sidelines of the G20 ministerial meeting in Bali, Indonesia on 21 September 2022.
The 12th World Trade Organization (WTO) ministerial conference held in Geneva, Switzerland from 12-17 June 2022, had promised to revive the dispute settlement body in the next two years.
WTO Dispute Settlement System
WTO is a global body which was set up in 1995 to promote rule based trading systems in the world and it also settles trade related disputes between the member countries.
A member country can complain against another member country to the WTO if it believes that the country is not following WTO rules regarding trade.
The Dispute Settlement Mechanism is a two tier process in the WTO.
First, the member countries are encouraged to settle their dispute through consultation.
If this fails then the WTO’s Dispute Settlement Body appoints a panel to look into the dispute.
The countries have the right to appeal against the ruling of the panel to an Appellate Body set up by the Dispute Settlement Body. The ruling of the Appellate body is binding on the countries of WTO.
Objection of the United States to the Dispute Settlement System
The United States government has blocked the appointment of members to the Appellate Body since 2019. The Appellate body structure is at present not working but the panel system is still functioning.
The United States wants to abolish the Appellate system of the WTO as it believes that it has become synonymous with litigation and has become prolonged, complicated and expensive.
However the developing countries are of the view that a two tier dispute settlement system is essential for the functioning of the WTO dispute settlement system.
World Trade Organisation (WTO)
- It was set up on 1st January 1995 replacing the General Agreement on Tariff and Trade (GATT).
- Its main purpose is to promote rule based trading systems in the world and it also settles trade related disputes between the member countries.
- The headquarters of WTO is in Geneva, Switzerland.
- There are 164 member countries.
- Director General of WTO : Dr Ngozi -Okonjo-Iweala of of Nigeria
- Report released by WTO : World Trade Report
3. Booker Prize winner British author Hilary Mantel dies at 70
Tags: Person in news International News
Hilary Mantle, the first woman to be awarded the Booker Prize twice and author of the popular novel 'Wolf Hall', died in London on September 22, 2022, at the age of 70.
IMPORTANT FACTS -
- Mantle was awarded the Booker Prize in 2009 for the first novel in the Thomas Cromwell series, Wolf Hall, and in 2012 for the novel Bring Up the Bodies.
The third novel of the series 'The Mirror and the Light' was published in the year 2020 which was well received by the readers and was listed for the Booker Prize,2020 for a long time.
The Wolf Hall has sold over five million copies worldwide and has been translated into more than 40 languages.
Its TV adaptation became a hit West End show and won a Golden Globe.
She was born on July 6, 1952 in Glossop, Derbyshire, England.
She graduated in law from the University of Sheffield.
In 1973, she married Gerald McEwen, a geologist.
ADDITIONAL INFORMATION -
About International Booker Prize :
The International Booker Prize is awarded annually to a translation of a novel published in the UK or Ireland.
The Booker Prize was established in 1969 by the Booker Mcconnell Company of England.
Under this, the amount of 50 thousand pounds i.e. 44 lakh rupees received is divided between the translator and the writer.
French novelist David Diop was awarded the 'International Booker Prize 2021'.
In May 2022 renowned Indian author Geetanjali Shree was awarded the International Booker Prize for her novel 'Tomb of Sand'.
4. 20th Meeting of Prosecutors General of SCO Member States takes place in Kazakhstan
Tags: International Relations International News
The 20th Meeting of Prosecutors General of the Shanghai Cooperation Organisation (SCO) Member States was held in Astana, Kazakhstan on September 23.
The next (21st) meeting of the Prosecutor Generals of the SCO member states will be held in China in 2023.
IMPORTANT FACTS -
- From India's side, learned Solicitor General of India Tushar Mehta and Additional Secretary, Department of Legal Affairs Dr. Anju Rathi Rana participated in the meeting.
Mehta highlighted the initiatives taken by the Government of India to address international economic offences at the international level by ratification of two United Nations Conventions.
These two UN Conventions are - the United Nations Convention against Transnational Organized Crime (UNCTOC) and its three protocols and the United Nations Convention Against Corruption (UNCAC).
He said, in order to curb the threat of international economic crimes at the national level, India has implemented a number of legislative measures to prevent, detect and punish money laundering by special legislation.
A Protocol incorporating the deliberations of the 20th meeting of the Prosecutor General of the SCO Member States was signed and adopted by the SCO Member States.
Salient features of the Protocol :
Strengthening cooperation in relation to recovery of proceeds made through money laundering.
Cooperation on issues relating to dealing with economic offences such as money laundering, search, confiscation and recovery of proceeds of crime from the States.
Using the forums of bilateral and multilateral gatherings to discuss ways to strengthen the system to deal with economic offences.
Continuing to exchange information on domestic laws governing the recovery of proceeds of each seizure and offence.
To develop cooperation between the General Offices of Prosecutors of the SCO Member States in the field of advanced training of prosecutors.
To conduct and participate in bilateral and multilateral programs to combat economic crimes.
5. First India-Australia-Indonesia foreign minister’s trilateral meeting held in New York
Tags: place in news Summits Person in news International News
External Affairs Minister S.Jaishanker held the first trilateral meeting of the foreign ministers of India, Indonesia and Australia in New York on 23 September 2022.
IMPORTANT FACTS -
- In a tweet the minister said that he discussed the maritime issue, blue water economy with the Indonesian foreign minister Retno Marsudi and the Australian foreign minister Penny Wong and emphasized the centrality of ASEAN in the Indo-Pacific region.
- World leaders are in New York to participate in the High Level Week at the 77th Session of the United Nations General Assembly (UNGA).
6. Quad foreign minister sign an agreement to operationalise Humanitarian Assistance and Disaster Relief at New York
Tags: place in news International News
The foreign ministers of the Quad (Quadrilateral Security Dialogue) signed an agreement in New York, United States on 23 September 2022 to operationalise Humanitarian Assistance and Disaster Relief (HADR) in the Indo-Pacific area.
Foreign ministers of India(S.Jaishanker), Australia(Penny Wong,), United States(Anthony Blinken) and Japan(Hayashi Yoshimasa ) signed the agreement to operationalise, which was announced by the Quad Leaders in Tokyo on 24 May 2022, as part of a shared vision for a free and open Indo-Pacific that is inclusive and resilient.
Under the HADR, the member countries will coordinate their disaster response operations in the region with other National and International agencies, private ,non-governmental organisations .
Next Quad foreign minister’s meeting to be held in New Delhi
They also agreed to hold the next foreign minister’s meeting of the Quad in India in early 2023.
The concept of QUAD was given by Japanese Prime Minister Shinzo Abe in 2007 for maritime cooperation between these countries after the Indian Ocean Tsunami disaster in 2004.
IMPORTANT FACTS -
Quad (Quadrilateral Security Dialogue) :
- It is a group of Australia, India, Japan and the United States to promote cooperation in the Indo-Pacific region.
- The first in person summit meeting of the Quad leaders was in Washington, United States in 2021.
- The second in person summit meeting was held in May 2022 in Japan
- The third summit meeting will be held in Australia in 2023.
7. Foreign Minister Jaishankar attends high level L-69 group meeting in New York
Tags: place in news Summits International News
External Affairs Minister S. Jaishankar attended the High Level Meeting of the L.69 Group on "Reinvigorating Multilateralism and Achieving Comprehensive Reform of the UN Security Council” in New York, United States of America on 23 September 2022.
IMPORTANT FACTS -
- The L.69 Group consists of developing countries from Asia, Africa, Latin America, Caribbean and Small Island Developing States, focused on reforms of the UN Security Council.
- Dr S. Jaishankar is on an official visit to the United States from 18-28 September 2022. He is leading the India delegation for the High Level Week at the 77th Session of the United Nations General Assembly (UNGA).
8. BRICS members endorse South Africa's presidency in 2023
Tags: International News
The BRICS Foreign Ministers held their annual meeting on the sidelines of the 77th session of the United Nations General Assembly in New York on 22 September.
IMPORTANT FACTS -
- The foreign ministers of BRICS member countries Brazil, Russia, India and China extended their full support to South Africa for the presidency of BRICS in 2023 and to hold the fifteenth summit.
The Ministers welcomed the Transforming Education Summit convened by the United Nations Secretary-General from 16-19 September 2022.
Member countries also welcomed the first "BRICS Anti-Corruption Ministerial Meeting", which was held virtually on 13 July.
The Ministers encouraged cooperation against corruption among BRICS countries on the basis of full consultation and consensus.
The Ministers reiterated their commitment to further strengthen cooperation within the BRICS Anti-Drug Working Group in accordance with the existing International Drug Control Regime.
2030 Agenda for Sustainable Development :
The Ministers called for the implementation of its three dimensions - economic, social and environmental - in a balanced and integrated manner by mobilising the necessary tools to implement the Sustainable Development Agenda in 2030.
They reaffirmed that the BRICS countries are committed to implementing the UN Education 2030 Agenda.
UN Education 2030 Agenda - promoting education accessibility and equity, accelerating the development of quality education and training, encouraging exchanges among the youths, strengthening knowledge on sustainable development, and providing BRICS contributions for global governance.
9. 2023 Breakthrough Prize winners announced
Tags: Science and Technology Awards International News
On September 22, the winners of the 2023 Breakthrough Prize, called the Oscars of Science, totaling more than $15 million, were announced.
IMPORTANT FACTS -
- This year three awards were given in the Life Science category while one award each for Mathematics and Physics.
Daniel Spielman of Yale University was awarded the Breakthrough Prize in Mathematics for his many discoveries in theoretical computer science and mathematics.
Clifford Brangwyn and Anthony Hyman (British scientist) won the Life Science Prize for their discovery of a new mechanism of cellular organisation.
Other life science prizes were awarded to Demis Hassabis (British scientist) and John Jumper (USA) for developing AlphaFold, which predicts the structure of proteins, and Emmanuel Mignot (France) and Masashi Yanagisawa (USA) for discovering the causes of narcolepsy.
ADDITIONAL INFORMATION -
About Breakthrough Prizes :
The Breakthrough Prizes were started in 2010 by a group of Silicon Valley entrepreneurs.
These Prizes were founded by Sergey Brin, Priscilla Chan and Mark Zuckerberg, Yuri and Julia Milner, and Anne Wojcicki.
These prizes are the most richly endowed prizes in science, the prize money of which exceeds that of the Nobel Prizes.
Breakthrough has an amount of $3 million in each prize, which is more than $1 million in prizes awarded to the winner of the Nobel Prize.
The awards are presented in the fields of life sciences, fundamental physics and mathematics.
10. G4 group express concern over slow pace of reform on Security Council
Tags: place in news International News
The foreign ministers of Group of 4 (India, Japan, Brazil and Germany) met in New York on 22 September 2022 and expressed concern about the lack of meaningful progress in the Intergovernmental Negotiations (IGN) on United Nations Security Council (SC) reform. They met on the sidelines of the 77th Session of the United Nations General Assembly being held in New York, United States.
The meeting was attended by Indian External Affairs Minister S.Jaishanker, German foreign minister Annalena Baerbock, Brazilian foreign minister Carlos Alberto Franco Franca and Japanese foreign minister Yoshimasa Hayashi.
The G-4 was formed in 2005 to reform the UN Security Council and include four countries as the permanent member of the United Nation Security Council.
IMPORTANT FACTS -
China not in favour :
- According to the government of India, as told to Lok Sabha on 22 July 2022, only China is opposing India’s candidature for the UN Security Council membership while the other permanent members of the Security Council, Russia, France, United Kingdom and the United States are in favour of India.
- China is also opposed to the membership of Japan and Germany.
- It has a difficult relationship with India and Japan and consider them as its rival while it opposes Germany as it is not a developing country.
UN Security Council :
- The UN Security Council is the main UN body which is responsible for maintaining peace and security in the world.
- It consists of 15 members. 10 members are non-permanent and are elected for 2 years.
- Five members are permanent members and they have veto power. The five permanent members are China, Russia, France, the United Kingdom and the United States.
