Regional Comprehensive Economic Partnership (RCEP) is a proposed free trade agreement (FTA) between – The 10 members of ASEAN Additional members of ASEAN +3 = China, Japan, South Korea Members with which ASEAN countries have FTA = India, Australia, New Zealand RCEP includes more than 3 billion people, has a combined GDP of about $17… Continue reading Significance of RCEP for India?
Source-Worldbank World Bank is a vital source of financial and technical assistance to developing countries around the world. This is not only a bank in the ordinary sense but a unique partnership to reduce poverty and support development. When? 1944 Headquarter: Washington, D.C. Publications- global economic prospects, Ease of doing business index There… Continue reading Bretton Woods Institutions – World Bank Group
Where? In Bretton Woods, New Hampshire in 1944 during the United Nations Monetary and Financial Conference at the Mount Washington Hotel <That’s why IMF and World Bank are known as Bretton Woods twins> The aim was to help rebuild the shattered post-war economy ( WW2 had just finished in 1945) and to promote international economic… Continue reading Bretton Woods Institutions – IMF
When was IORA conceived? 1997 in Ebene Cyber City, Mauritius Origins: First established as Indian Ocean Rim Initiative in Mauritius on March 1995 and formally launched in 1997 by the conclusion of a multilateral treaty known as the Charter of the Indian Ocean Rim Association for Regional Cooperation. It is based on the principles of Open… Continue reading Indian-Ocean Rim Association (IORA)
Brazil, Russia, India, China and South Africa (BRICS) are leading emerging economies and political powers at the regional and international level. When? 2008. They had their first official meeting in 2009 Origin: The acronym, BRIC, was coined by Jim O’Neill of Goldman Sachs way back in 2001 He predicted that by year 2050, Brazil, Russia,… Continue reading BRICS and India
As of July 2015, India has been accorded full membership of the Shanghai Cooperation Organisation (SCO) along with Pakistan at its Ufa summit held in Russia. SCO is a Eurasian economic, political and military organisation HQ: Beijing, China Established: 2001 in Shanghai by the leaders 6 countries viz. China, Kyrgyzstan, Kazakhstan, Russia, Tajikistan, and Uzbekistan… Continue reading SCO & India
As of Feb 2016, MGC has 6 member countries & 0 observers. BIMSTEC has 7 member countries & 0 observers. But our next guest – SAARC, has 8 member countries and 9 observers (including China, US, EU, Japan). The South Asian Association of Regional Cooperation (SAARC) completed 3 decades of its existence in 2015. While it is… Continue reading SAARC
#1. Mekong Ganga Cooperation (MGC) When? 2000 Origins: An initiative by 6 countries – India and 5 ASEAN countries, namely, Cambodia, Lao PDR, Myanmar, Thailand and Vietnam Relevance and Evolution Both the Ganga and the Mekong are civilizational rivers, and the MGC initiative aims to facilitate closer contacts among the people inhabiting these two major river… Continue reading Mekong Ganga Cooperation and BIMSTEC