Category: Important International institutions, agencies – GS2S

INDIA AGAIN ABSTAINS AT U.N. VOTE ON SEXUAL MINORITIES

Context:

  •       India abstained at the vote for extending the mandate of an important UN official who reports on violence and discrimination against sexual minorities.

Issue:

  • Human Rights Council (HRC) celebrated the United Nations Human Rights Council’s vote to renew for a second three-year term the mandate of the U.N. Independent Expert on protection against violence and discrimination based on sexual orientation and gender identity.
  • India’s abstention at the resolution for term renewal of the Independent Expert on Sexual Orientation and Gender Identity in the UN Human Rights Council.
  • Indian delegation had supported some amendments brought by countries that opposed the work of the Independent Expert.

U.N. Independent Expert on Protection Against Violence and Discrimination Based on Sexual Orientation and Gender Identity (IE SOGI):

  •  Established in 2016 by the U.N. Human Rights Council, the IE SOGI.
  •   working collaboratively with U.N. and regional leaders, has helped nations develop policies and actions to protect people from discrimination and violence based on sexual orientation and gender identity.
  • The Independent Expert oversees the implementation of international human rights law, raises awareness, engages in dialogue with stakeholders and provides advisory and technical assistance.

Connecting Dots in India

  •  Indian Supreme Court struck down Section 377 and decriminalised the LGBTQ community.

World Bank Chief Urges Reforms To Attract Investment Amid Trade Uncertainty

  • The World Bank in its annual Global Economic Prospects report earlier this month forecast that slowing trade and investment flows would cut global growth this year to 2.6 percent, down 0.3 percentage point from previous forecasts.
  • Uncertainty from trade tensions and slowing global growth is increasing the need for developing countries to pursue reforms that make them more attractive to private investment.
  • The Bank will urge countries to take bolder steps to improve their business climates to allow private firms to compete better with state-owned companies and generate more profitable growth, innovation and jobs.
  • The International Monetary Fund has forecast a similar slowdown, driven primarily by increased tariffs, primarily between the United States and China.
  • The bank’s private-sector arm, the International Finance Corp, is doing a deep diagnostics dive into obstacles to private-sector firms in various countries on issues like customs facilitation, stronger bankruptcy regimes and legal changes to bring more women into workforces.

EASTERN ECONOMIC FORUM

  • The Eastern Economic Forum was established by Decree of the President of the Russian Federation Vladimir Putin in 2015. In accordance with the Decree, the Eastern Economic Forum takes place each year in Vladivostok.
  • Every year, the Eastern Economic Forum serves as a platform for the discussion of key issues in the world economy, regional integration, and the development of new industrial and technological sectors, as well as of the global challenges facing Russia and other nations.

Objectives:

  • Strengthening ties between the international investment community, Russian business, and federal, regional, and local government bodies
  • Conducting a comprehensive expert assessment of the economic potential of the Russian Far East and improving the region’s competitiveness and attractiveness to investors both nationally and internationally
  • Showcasing new investment and business opportunities such as advanced special economic zones, Vladivostok Free Port, and state support for high-potential investment projects
  • India and China will meet along with Russia in the side-lines of Easter Economic Forum apart  from  a  trilateral  meeting  during  the  G20  summit.  Such  a  meeting  would  add weightage to the global significance of Eurasian region.

REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP (RCEP)

  • The Regional Comprehensive Economic Partnership (RCEP) is a mega-regional economic agreement being negotiated since 2012 between the 10 ASEAN (Association of South-East Asian  Nations)  governments  and  their  six  FTA  partners:  Australia,  China,  India, Japan, New Zealand and South Korea.
  • The agreement’s contents, the proposed RCEP would cover almost every aspect of economy such as goods, services, investment, economic and technical cooperation, intellectual property rights (IPR), rules of origin, competition and dispute settlement.
  • The negotiations have missed several deadlines repeatedly, even though they have gained momentum since 2016.

Issues of concern for India:

  • Japan and South Korea are channelling demands by big pharma for longer patent terms and for monopoly rights over clinical trial data. These provisions could undermine access to price-lowering generic medicines, and thus, life-saving treatment for millions of people in the developing world.
  • The  RCEP  would  threaten  livelihoods  in  sectors  like  dairy,  meat  and  other  agricultural products by allowing duty free imports of subsidised  products from Japan, New Zealand and Australia. India, with 100 million small scale dairy producers, and Vietnam are among the countries that will be most affected.
  • One of the provisions proposed in RCEP will allow governments to treat foreign investors as they treat locals. This means that large corporations will be able to grab land, displacing local subsistence farmers.
  • India’s trade deficit [annual] with RCEP nations is about $100 billion, and half of this is with China alone even without an FTA with China. Post India’s FTA with ASEAN, Japan and Korea [who are all RCEP members], our trade deficit with them have increased, and the government needs to take this into account during RCEP negotiations.
  • Visa Norms– India’s push for easier norms on movement of professionals across borders for  short-term  work  in  16  Asia-Pacific  nations,  including  itself,  under  a  proposed  mega Free  Trade  Agreement  (FTA)  —  is  learnt  to  have  found  favour  with  some  ASEAN-bloc members. To date, no official text has been made public, even though the agreement would affect several billion people. This continues to fuel concerns.

QS World University Ranking 2020: IIT Bombay tops among Indian Institutions

  • MIT (Massachusetts Institute of Technology) has made a history by topping the 2020 QS World University Rankings for the eighth consecutive year.
  • Stanford University, Harvard University and California Institute of Technology (Caltech) — all retain their positions at second, third and fourth in the world, respectively.
  • Only three Indian institutes — IIT-Bombay, IIT-Delhi and IISc-Bangalore making it to top 200 in 2020 QS World University Rankings.
  • The  Indian  Institute  of  Technology,  Bombay  (IIT-Bombay),  has  emerged  as  India’s  best institution   in   the   Quacquarelli   Symonds   (QS)   World   University   Ranking   2020.   IIT Bombay which was at 162nd rank last year has moved up to 152nd rank.
  • IIT-Delhi has bagged 182th position and IISc Bangalore has secured 184th rank.

Modi voted ‘World’s Most Powerful Leader 2019

  • PM Narendra Modi was voted the ‘World’s Most Powerful Person 2019’ in the reader’s poll conducted by UK-based British Herald magazine.
  • PM Modi received 30.9% of total votes to beat US President Donald Trump, Russian President Vladimir Putin, and Chinese President Xi Jinping.
  • PM Modi will feature on the cover page of the July 15 edition of the magazine.

INDIA TO RAISE TERROR, FINANCIAL CRIMES AT G20 SUMMIT

Theme “Human Centered Future Society”

  • Issue to be taken up:
    • Digital economy
    • Artificial Intelligence
    • Global Health
    • Ageing
    • Marine Plastic

What is DFFT or Data Free Flow with Trust?

  • This is a new principle emerging among the global economies where they wish unrestricted, yet accountable flow of data over a localized data.
  • It underlying principles are:
  • Rather than tell firms where they can store or process data, policymakers should hold firms accountable for managing data they collect, regardless of where they store or process it.
  • Countries should revise the inefficient processes and outdated legal agreements that govern law enforcement requests for access to data stored in another country’s jurisdiction.
  • Countries should develop the legal and administrative frameworks (with respective checks and balances) that allow Internet service providers to block data flows that involve the illegal distribution and use of unlicensed content.
  • Countries should support and not undermine encryption’s role in securing data flows and digital technologies.

Money-laundering and its prevention:

Terror Funding:

What is FATF?

  • The Financial Action Task Force (FATF) is an inter-governmental body
  • established in 1989 by the Ministers of its Member jurisdictions.
  • The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
  • The  FATF  currently  comprises  36  member  jurisdictions  and  2  regional  organisations, representing most major financial centres in all parts of the globe.
  • In June 2018, Pakistan was placed in the ‘grey list’ and given a 27 point action plan.

What does this mean for the Country?

  • Pakistan’s banking channel could be adversely affected as it is inevitably linked with the international financial system.
  • Foreign financial institutions may carry out enhanced checking of transactions with Pakistan to avoid risk of violations pertaining to money laundering and financing of terrorism.
  • Another affected is the sentiment of foreign investors.

Which are the other countries in the grey list?

  • The other countries on the list, in alphabetical order, are Ethiopia, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia and Yemen.

What is Black List?

  • Black list makes more stringent restrictions on the countries in the list. This black list comprises Iran and North Korea.

Other Facts:

  • The FATF implements UN designations, which do not warrant arrest.
  • They ask only to freeze funds, denial of access to weapons and travel embargo

KIMBERLEY PROCESS

Why in News?

Intersessional meeting of the Kimberley Process (KP) is being hosted by India in Mumbai.

Highlights:

  • India  is  currently  the  Chair  of  Kimberley  Process  Certification  Scheme  (KPCS)  since  1st January 2018. It was handed Chairmanship by the European Union during KPCS Plenary 2018, which was held in Brussels, Belgium.
  • India is founding member of KPCS.

Kimberley Process:

  • The Kimberley Process is an international certification scheme that regulates trade in rough diamonds. It aims to prevent the flow of conflict diamonds, while helping to protect legitimate trade in rough diamonds.
  • The Kimberley Process Certification Scheme (KPCS) outlines the rules that govern the trade in rough diamonds.
  • The KP is not, strictly speaking, an international organisation: it has no permanent offices or permanent staff. It relies on the contributions – under the principle of ‘burden-sharing’ of participants, supported by industry and civil society observers.
  • Neither can the KP be considered as an international agreement from a legal perspective, as it is implemented through the national legislations of its participants.

Kimberley Process Certification Scheme:

  • The Kimberley Process Certification Scheme (KPCS) imposes extensive requirements on its members to enable them to certify shipments of rough diamonds as ‘conflict-free’ and prevent conflict diamonds from entering the legitimate trade.
  • Under the terms of the KPCS, participating states must put in place national legislation and institutions; export, import and internal controls; and also commit to transparency and the exchange of statistical data.
  • Participants can only legally trade with other participants who have also met the minimum requirements of the scheme, and international shipments of rough diamonds must be accompanied by a KP certificate guaranteeing that they are conflict-free.

PUBLIC PROCUREMENT LEGISLATION

Context:

  • Supreme Court expressed its growing concern over the award of tenders being challenged in writ proceedings almost as a matter of routine.

Why:

  • Need the Central government must pass legislation on Public Procurement.
  • Nearly, 30% of GDP is contributed by this public procurement which has a fiscal significance in public policy.

 

Previous bills:

  • United Progressive Alliance introduced the Public Procurement Bill in the Lok Sabha in 2012, The National Democratic Alliance, in 2015, revamped the provisions of the earlier Bill to come up with the Public Procurement Bill, 2015
  • Both the bill were not passed in parliament.

Constitutional Provision:

  • There is absence of Any Constitutional Provision regarding such Public procurement. Reason- Article 282 gives financial autonomy in public spending for executive.

State take on Public procurement:

  • State public procurement is regulated by a State Act only in five states Tamil Nadu, Karnataka, Rajasthan, Andhra Pradesh and Assam.
  • There is absence of grievance redress mechanisms in above states.

Judiciary Stand:

  • Courts have imposed such stringent Self-Imposed Restrictions in the area of judicial review regarding tendered and power to interfere.

Conclusion:

  • Absence of Legislation would only encourage the growth of other negative aspects of public procurement.
  • In such a depressing legal scenario, it is no surprise that public procurement  tender awards are often challenged in constitutional courts.
  • Passing a roboust legislation in Public procurement will Reduce Litigations in Court Regarding Procurement Help Fiscal Consolidation
  • Accountability in procurement. Boost MSME further.

CHARTING A CLEAR COURSE IN THE INDO-PACIFIC

Why in News:

  • Indo-Pacific has been gaining traction in Indian policy and has achieved operational clarity after the Indian vision was presented by Prime Minister Narendra Modi at the Shangri-La Dialogue.

Details:

  • India has been an active participant in mechanisms like the Indian Ocean Rim Association (IORA), in ASEAN-led frameworks like the East Asia Summit, the ASEAN Defence Ministers’ Meeting Plus, the ASEAN Regional Forum as well as the Bay of Bengal Initiative for Multi- Sectoral Technical and Economic Cooperation and the Mekong-Ganga Economic Corridor.
  • India has also been convening the Indian Ocean Naval Symposium, in which the navies of the Indian Ocean Region (IOR) participate.
  • India has boosted its engagements with Australia and New Zealand and has deepened its cooperation with the Republic of Korea.
  • India is stepping up its interactions with the Pacific Island countries.
  • India’s growing partnership with Africa can be seen through the convening of mechanisms
    like the India-Africa Forum Summits.
  • India’s multi-layered engagement with China as well as strategic partnership with Russia underlines its commitment to ensuring a stable, open, secure, inclusive and prosperous Indo-Pacific.

Background:

Shangri-La Dialogue

  • The Shangri-La Dialogue (SLD) is an intergovernmental security forum held annually by an independent think tank, the International Institute for Strategic Studies in Singapore.
  • The Shangri-La Dialogue has evolved into a key strategic gathering of the Asia-Pacific region. It is attended by defense ministers, permanent heads of ministries and military chiefs of Asia-Pacific states.

East Asia Summit

  • The East Asia Summit (EAS) is a forum held annually by leaders of 18 countries established in the year 2005. Initially, 16 countries in the East Asian, Southeast Asian and South Asian regions were the members of the forum.
  • The membership expanded to 18 countries including the United States and Russia at the Sixth EAS in 2011. EAS meetings are held after the annual Association of Southeast Asian Nations (ASEAN) leaders’ meetings.
  • The first summit was held in Kuala Lumpur, Malaysia on 14 December 2005.
  • The East Asia Summit includes India, China, Japan, Republic of Korea, Australia, New Zealand, The United States, and Russia apart from the 10 ASEAN Member States.
  • India is a founding member of the East Asia Summit.
  • Eleven East Asia Summits have been held so far. Though the ASEAN is at the core of the EAS, its vision is beyond the ASEAN and is seen by India as an alternative to the APEC, in which India doesn’t enjoy the membership.
  • Within the framework of the East Asia Summit, there are six priority areas of regional cooperation. These are
  •  Environment and Energy
  •  Education
  •  Finance
  •  Global Health Issues and Pandemic Diseases
  •  Natural Disaster Management
  •  ASEAN Connectivity.
  • EAS is an initiative of ASEAN and is based on the premise of the centrality of ASEAN.
  • It has evolved as a forum for strategic dialogue and cooperation on political, security and economic issues of common regional concern and plays an important role in the regional architecture.
  • Trade is also an important focus for the summit.

Indian Ocean Rim Association (IORA)

  • The Indian Ocean Rim Association was set up with the objective of strengthening regional cooperation and sustainable development within the Indian Ocean Region
  • The IORA is a regional forum, tripartite in nature, bringing together representatives of Government, Business and Academia, for promoting co-operation and closer interaction among them.
  • It is based on the principles of Open Regionalism for strengthening Economic Cooperation particularly on Trade Facilitation and Investment, Promotion as well as Social Development of the region.
  • India, Australia, Iran, Indonesia, Thailand, Malaysia, South Africa, Mozambique, Kenya, Sri Lanka, Tanzania, Bangladesh, Singapore, Mauritius, Madagascar, UAE, Yemen, Seychelles, Somalia, Comoros and Oman are among the members of IORA.

BIMSTEC:

  • BIMSTEC stands for Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation. It is an international organisation involving a group of countries in South Asia and South East Asia. 7 members are Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan, Nepal
  • Established in 1997 in Bangkok
  • Bangladesh, India, Sri Lanka, and Thailand were founding members HQ: Dhaka, Bangladesh
  • The main objective of BIMSTEC is technological and economic cooperation among south Asian and south east Asian countries along the coast of the Bay of Bengal. Commerce, investment, technology, tourism, human resource development, agriculture, fisheries, transport and communication, textiles, leather etc. have been included in it
  • BIMSTEC uses the alphabetical order for the Chairmanship Bhutan has never been chairman
  • Current chairmanship: Sri Lanka

Mekong Ganga Cooperation (MGC)

  • The MGC is an initiative by India and five ASEAN countries, Cambodia, Laos, Myanmar, Thailand and Vietnam for cooperation in tourism, culture, education, as well as transport and communications. It was launched in 2000 at Vientiane, Laos. It is named after Ganga and the Mekong which both are civilisational rivers. MGC initiative aims to facilitate closer contacts among the people inhabiting these two major river basins.

IMF TO LOAN FOR PAKISTAN

why in news:

  • Pakistan will get loan of $6 billion for 3 years-IMF.

Background: / How strained is Pakistan’s economy?

  • Pakistan’s economy has been ruined in the last 8 months, and almost every indicator has deteriorated substantially.
  • It is marked since Imran Khan became Prime Minister and his party, the Pakistan Tehreek- e-Insaf (PTI), formed the government.

IMF:

 

  • Inflation, at 9.4%, is at its highest level in five-and-a-half years and is likely to rise to double digits for the months ahead.
  • The rupee continues to lose value every other day, which adds to further inflation especially with the oil price on the way up.
  • The fiscal deficit is about to hit more than 6% of GDP.
  • Even a cut in development expenditure will not stop this trend, as defence spending and interest payments continue to rise. Pakistan’s exports, stuck at around $26 bn for years, despite the 35% devaluation of the rupee over one year, have barely recovered.
  • Besides, the government owes power producing companies huge amounts of money and the debt continues to accumulate. Interest rates are also going up making the cost of business even more uncompetitive. The GDP grew by 5.8% in the last fiscal year, the highest in 13 years.
  • But the State Bank of Pakistan recently lowered the expectations of GDP growth for the current fiscal year to an 8-year low, to around 3.5%.
  • This was reduced further by the IMF and the World Bank to a dismal 2.9% for the current fiscal year. It is expected to fall further over the next 3 years. By all accounts, Pakistan’s economy is in a dismal state.

 

HQ – Washington

  • Official language – Chinese, English, French, Russian, Spanish, Arabic Formally created in 1945 by 29 member countries
  • Stated goal was to assist in the reconstruction of world’s international payment system post World War II. Countries contribute funds to a pool through a quota system from which countries with payment imbalances temporarily can borrow money and other resources.

 

Organization’s objectives as stated in the Articles of Agreement:

  • To promote international economic co-operation,
  • To promote international trade,
  • To promote employment and exchange-rate stability,
  • Make financial  resources  available  to  member countries to meet balance of payments needs.

Upon initial IMF formation, its two primary functions were:

  • To oversee the fixed exchange rate arrangements between countries To provide short-term capital to aid balance of payments

Europe rejects Iran’s ‘ultimatum’ but stands by nuclear agreement

Why in news:

  •       European powers denounced Iran’s threat to resume nuclear work but vowed to save a landmark deal with Tehran despite U.S. pressure.

Details:

  •       Iran said it would defylimits under the 2015 agreement, and threatened to go further if Europe, China and Russia fail to deliver sanctions relief within 60 days.
  •       Tehran says it is responding to unilateral U.S. sanctions imposed after President Donald Trump called a “horrible” deal, dealing a severe blow to the Iranian economy.

Joint Comprehensive Plan of Action (JCPOA)

  •       It is informally called as ‘Iran nuclear deal’. It is multilateral nuclear deal signed between Iran and P5 +1 (five permanent members of United Nations Security Council- US, China, France, Russia, and UK), plus Germany and European Union (EU), in Vienna.
  •       The JCPOA is aimed at preventing Iran from building nuclear weapon, involved lifting of international sanctions in return for Tehran curbing its nuclear programme.
  •       This plan ensured that Iran will drastically reduce its uranium enriching capacity and levels, enriched stockpiles and centrifuges and will allow for stringent inspection and monitoring by international agencies including International International Atomic Energy Agency (IAEA).
  •        In exchange for Iran compliance to deal, economic sanctions that had kept Iran away from international banking and the global oil trade were lifted.
  •     It allowed Iran to make business deals and also unfroze billions of dollars Iran had overseas before multilateral sanctions were imposed on Iran over its nuclear programme.

Why did Iran agree to the deal?

  •       It had been hit with devastating economic sanctions by the United Nations, United States and the European Union that are estimated to have cost it tens of billions of pounds a year in lost oil export revenues. Billions in overseas assets had also been frozen.

Impact on India

  •       Energy trade
  •       Implications in West Asia
  •       Chabahar port

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