Special Current Affair for IBPS Exams : India & The World Part - 8

Special Current Affair for IBPS Exam


Topic: India & The World [Part - 8]

  • INDIA AND MYANMAR
  • INDIA AND IRAQ
  • INDIA AND OMAN
  • INDIA AND NORTH KOREA
  • INDIA AND THAILAND

INDIA AND MYANMAR

India and Myanmar set three billion dollar trade target by 2015 during the meeting of India’s energy minister Anand Sharma with his Myanmar counterpart U Than Htay in New Delhi held on 6 June 2013. India conveyed the interest of Indian banks in setting up their branches in Myanmar. It also conveyed its interest in deepening cooperation in the fields of energy, oil and natural gas. Improving air, road and water connectivity between the two countries was also discussed during the meeting. Myanmar expressed keen interest in building linkages with the textiles sector of India. It has immense potential for Myanmar. It also sought India’s help in developing a full value chain for silk production in her country. Myanmar is India’s important neighbor and the relations between the two countries have broadened and deepened in the last two years. India is ready to extend all necessary assistance to Myanmar in its development efforts.

INDIA AND IRAQ

Salman Khurshid, the Union External Affairs Minister was on a two-day visit to Iraq from 19 to 20 June 2013. The aim of this visit of Khurshid to Iraq was to enhance cooperation in oil and hydrocarbon sector. During this visit Khurshid held talks on issues of bilateral and mutual interests including import of oil for energy security along with the avenues of partnership, with the top Iraqi leaders. A decision to take the relationship to a higher level between the two countries by enhancing cooperation in hydro carbon sector was also made. The two countries agreed on holding a meet of Joint Commission in Baghdad before Ramadan that will begin in second week of July 2013.

The joint commission meet will look forward for the revival of the ties between the two nations and will be attended by the Union Oil Minister Veerappa Moily. Government of Iraq assured Khurshid that supply of oil to India to fulfill its future requirements will be continued. At present, Iraq is the second largest supplier of crude oil to India despite of the sanctions on it. Iraq supplies about 12 percent of crude oil to India and stands next to Saudi Arabia.

Iraq is looking forward to increase its overall production capacity to 9 million barrels per day by 2017 from 2.6 million barrels per day, which it exports at present. During his visit to Iraq, Khurshid met with the Prime Minister of Iraq Nouri al-Maliki and handed him over the letter of invitation to visit India by Prime Minsiter of India Union, Dr. Manmohan Singh. He also met with his counterpart Hoshyar Zebari and Deputy Prime Minister and Energy Minister of Iraq Hussein al-Shahristani. This is the first visit of any Minister from Indian Union to Iraq after 23 years in the war-raved country. Before Salman Khurshid, Former Prime Minister of India, Inder Kumar Gujral visited Iraq in 1990 during his tenure as an External Affairs Minister of Indian Union.

He visited Iraq to check the procedures of evacuation of Indians in the wake of Gulf war.

INDIA AND OMAN

During the five-year period from 2008-09 to 2012-13, India-Oman bilateral trade increased by 129 percent as per the data released by Ministry of External affairs of India. India has been a major exporter to Oman and emerged as the fourth largest source of imports into Oman after Japan, USA and Saudi Arabia in 2012.The balance of trade is in India’s favour due to increase in export of mineral fuels, mineral oils and products of their distillation. Besides traditional items from India like tea, coffee, spices, rice and meat products and seafood are among other commodities in great demand in Oman.
India imports urea, Liquefied Natural Gas through spot purchase, polypropylene, lubricating oil, dates and chromites ore from Oman. In terms of FDI inflows from the GCC Countries, Oman is the second biggest investor in India having put in investments worth 340 million US dollars in the country.

More than 7.18 lakh expatriate Indians are living in Oman in various sectors contributing a lot towards strong India-Oman ties.

INDIA AND NORTH KOREA

India on 3 June 2013 added some more items, including gems and jewellery to its list of items prohibited for trade with North Korea, directly or indirectly. The decision was taken keeping into view UN sanctions against North Korea because of its nuclear programme. It is worth Mentioning here that a UN resolution against North Korea was adopted on 7 March 2013.
A notification was issued by Directorate of Foreign Trade (DGFT) in this regard enlisting the new items that are barred for trade with North Korea. The Prohibited items include a particular kind of lubricant, corrosion—resistant material and certain chemicals which can be used for nuclear and missile technology. It also includes luxury goods like gems, jewellery, precious stones, yachts, luxury vehicles, racing cars and station wagons.

INDIA AND THAILAND

India and Thailand on 30 May 2013 signed a treaty for the extradition of runaways wanted for terrorism, transnational crimes, economic offences and other serious crimes which will shortly eliminate a safe refuge for criminals wanted in India and Thailand. The extradition treaty between India and Thailand was signed during Prime Minister Manmohan Singh’s first bilateral visit to Thailand.
With the signing of extradition treaty, India is supposed to put forward its requests to Thailand for the extradition of criminals like fugitive Syed Musakir Mudassar Hussain alias Munna Zingada who is wanted in India for underworld activities. Actually Munna Zingada is presently in a Thai prison for his involvement in the attack on underworld don Chhota Rajan here in 2001.

Highlights of the Extradition Treaty

  • The Treaty provides the legal framework for seeking extradition of fugitive offenders, including those involved in terrorism, transnational crimes, economic offences etc.

  • Treaty provides for the extradition of any person who is wanted for trial or for the imposition or enforcement of a sentence by one Contracting State and is found in the territory of the other Contracting State.

  • The treaty will help both the countries in expedited extradition of fugitives. This Treaty would further strengthen the relationship between two law enforcement agencies by providing a firm legal basis for their bilateral cooperation.

  • The extradition treaty concluded after two decades of negotiations, and a memorandum of understanding on cooperation in anti-money laundering, gives a major signal of India’s shared commitment in combating terrorism, organized crime, drug trafficking and counterfeiting.