International Affairs, May 14th, 2018, Current Affairs Current Affairs Notes | EduRev

INTERNATIONAL AFFAIRS

Visit of Vice President to Guatemala, Panama and Peru

Vice President M. Venkaiah Naidu was on an official visit to Guatemala, Panama and Peru in Latin America from 6^th -12^th May, 2018. This was Mr. Naidu’s first official overseas visit. On this visit, Mr. Naidu was accompanied by a high-level delegation including Minister of State for Tribal Affairs Shri Jasvantsinh Sumanbhai Bhabhor.

Visit to the Republic of Guatemala

Vice President M. Venkaiah Naidu was in Guatemala from 6^th to 8^th May, 2018. This was the first ever visit of an Indian Vice President to the Republic of Guatemala.

India and Guatemala agree to support each other for Non-permanent membership of UNSC

On May 8, 2018, India and Guatemala agreed to support each other’s candidature for the non-permanent membership of the United Nations Security Council (UNSC).

• Decision in this regard was taken after Vice President M Venkaiah Naidu held extensive talks with Guatemala President Jimmy Morales, Vice President Jafeth Cabrera and Parliament Speaker of Guatemala Alvaro Arzu Escobar in Guatemala city.
• It has been agreed that Guatemala will support India’s candidature for UNSC membership for 2021-22, while India will do so in 2031-32 for Guatemala.

India to train Guatemalan diplomats, English teachers; MoU and Letter of Intent signed

On May 8, 2018, India and Guatemala signed a Memorandum of Understanding (MoU) for expanding cooperation in the area of diplomatic training through their respective Foreign Service Institutes.

• Signing of the MoU was witnessed by visiting Indian Vice President M. Venkaiah Naidu and his Guatemalan counterpart Dr. Jafeth Ernesto Cabrera Franco.
• In addition to this, a Letter of Intent was handed over to Guatemalan authority on organizing a special course for Guatemalan English Teachers in India under Indian Technical and Economic Cooperation Programme (ITEC)

Highlights of Bilateral meeting with the Vice President of Guatemala

During the bilateral meeting between Indian Vice President Naidu and Guatemala Vice President Dr. Jafeth Ernesto Cabrera Franco, Mr. Naidu emphasized over strong economic engagement between two countries especially in automobile and pharmaceuticals.

• Both the Vice Presidents reviewed the main issues of the bilateral relations and agreed to explore and strengthen their cooperation linkages in different areas such as agriculture, education, culture, renewable energy, environment conservation, trade & investment etc.

Other Important points:

Diplomatic Relations between Guatemala and India were established on May 16, 1972.

• Indiahas agreed to Guatemala’s request to supply solar panels to its airports.
• During the course of this visit, Mr. Naidu also enjoyed Guatemala’s traditional musical instrument, ‘Miramba’.
• India has reiterated its invitation for Guatemala to join the International Solar Alliance.

Quick facts about Guatemala:
♦ Capital – Guatemala City
♦ Currency – Quetzal
♦ Current President – Jimmy Morales

Visit to Panama

Vice President M. Venkaiah Naidu visited Panama from 8^th to 10^th May, 2018.

• In an unprecedented gesture, the visit was upgraded and the President of the Republic of Panama, Juan Carlos Varela led the talks with Vice president Naidu.
• Panama President Varela invited Indian investments in agriculture, information technology, cold storage, textile and Pharmaceuticals sectors in Panama.
• It is to be noted that India-Panama bilateral trade currently stands at USD 424 million.
• During the course of this visit, Mr. Naidu also visited Panama
• Both the countries have agreed to work together to deal with the menace of terrorism and to collaborate in intelligence sharing.

India, Panama sign 2 pacts

Following 2 MoU’s were signed in presence of Vice President Venkaiah Naidu and Panama President Juan Carlos Varela.

i. A memorandum of understanding (MoU) for Exemption of Visa for Diplomatic, Official and Consular Passport Holders.

ii. A Work Plan for implementing the existing MoU between Union Ministry of Agriculture and the Ministry of Agriculture Development of Panama for Cooperation in the Field of Agricultural Research and Education.

India announced two Credit Lines of assistance to Panama

During the course of this visit, Mr. Naidu announced two Credit Lines of assistance to Panama:

i. USD 10 million line of credit for setting up a Centre for Biodiversity and Drug Discovery

ii. USD 15 million line of credit for setting up a Centre for Innovation & Technology

Other important points:

Vice President Naidu has invited Panama to become part of the International solar Alliance.

• Panama has welcomed India’s proposal for setting up a Telemetry, Tracking and Tele Command (TTC) Earth station in Panama for supporting operations of geostationary communication and meteorological satellites of the Indian Space & Research Organization (ISRO).
• In a bid to enhance cooperation in key areas, both countries have agreed to expedite ongoing discussions for finalization of MoUs for strengthening cooperation in the fields of Economic Cooperation, Exchange of Tax Information, Maritime Cooperation, Traditional Medicines, Air Services, Culture and Space.

Quick Facts about Panama:
♦ Capital – Panama City
♦ Currency – Balboa, United States Dollar
♦ Current President – Juan Carlos Varela

Visit to Peru

Vice President M. Venkaiah Naidu visited Peru from 10^th to 12^th May, 2018. During this visit, Vice President Naidu held extensive talks with President, Prime Minister and senior Ministers of Peru in Lima and discussed range of issues of mutual interest.

Peru seeks production of generic medicines by Indian companies in their country

During Vice President Naidu’s visit to Peru, Peruvian Prime Minister Mr. Cesar Villanueva Bardales, noted that India is considered a leader in pharmaceutical sector and Peru intends to take benefit of the same.

• Peruvian Health Minister Ms.Silvia Pessah Eljay suggested that Indian Government may enable Indian Pharma companies set up generic medicines production facilities in Peru.
• Responding to this, Vice President Naidu urged Peruvian Government to enable hassle free registration of Indian pharmaceutical companies for supply of medicines.

India and Peru celebrated 55 years of diplomatic ties in Lima

Celebrations commemorating the 55th Anniversary of establishment of diplomatic relations between India and Peru were held during this visit in Peruvian capital Lima.

• The occasion was addressed by Vice President of India, Venkaiah Naidu and the Foreign Minister of Peru.
• The event was marked by traditional Indian and Peruvian cultural performances highlighting the rich cultural heritage of both countries.

India and Peru signed an agreement in the field of Renewable Energy at Lima

After the bilateral meeting between Vice President M Venkaiah Naidu and Prime Minister of Peru Cesar Villanueva Arevalo in Lima, an agreement between Union Ministry of New and Renewable Energy of the Republic of India and the Ministry of Energy and Mining of the Republic of Peru was signed for Cooperation in New and Renewable Energy.

• Objective of this agreement is to promote bilateral technical cooperation in new and renewable energy on the basis of mutual benefit, equality and reciprocity.
• It is to be noted that Peru is a founder member of the International Solar Alliance, launched by Prime Minister Narendra Modi at the 2015 UN climate change conference in Paris.

Other important points:

During a meeting with vice president M Venkaiah Naidu, Peru’s minister of foreign trade and tourism Rogers Valencia Espinoza, stressed on the need to conclude the comprehensive free trade agreement with India at the earliest.

• The two rounds of discussions for the comprehensive free trade agreement had taken place and the third round will be held in Delhi in August 2018.
• India is now the seventh largest trading partner of Peru.
• Peruvian Government has reiterated its support for India`s candidature for permanent membership in a reformed and expanded United Nations Security Council.

Quick facts about Peru:
♦ Capital – Lima
♦ Currency – Sol
♦ Current President – Martin Vizcarra

Chinese State-Run Bank Launches India-Dedicated Investment Fund
Industrial and Commercial Bank of China (ICBC) , a state-run Chinese bank has launched ICBC Credit Suisse India Market Fund, China’s first India-dedicated publicly offered investment fund.

Salient features of ICBC Credit Suisse India Market Fund:
i. The fund will invest in exchange-traded funds listed on more than 20 exchanges in Europe and the US that are based on the Indian market.
ii. ICBC is pitching this fund to investors stating that Indian market offers the best opportunity for Chinese investors due to the prospects of double-digit growth.
iii. Interestingly, this fund has been launched within a fortnight after the first ever informal summit between Prime Minister Narendra Modi and Chinese President Xi Jinping at Wuhan.
Quick Facts about ICBC:
♦ Founded in – 1984
♦ Headquarters – Beijing, China

Nepal to host 2018 BIMSTEC summit
i. On 12^th May , Nepal’s Prime Minister KP Sharma Oli announced that Nepal will be the host for the upcoming 2018 BIMSTEC Summit .

ii. This was announced during the bilateral talks between the Prime Minister of Nepal and India on commitment towards building the Bangladesh-Bhutan-India-Nepal initiative.
Key point:
On Prime Minister Narendra Modi’s two-day visit to Nepal , several talks were held among which the Prime Minister of Nepal announced that Nepal will be the host for the 2018 Bay of Bengal Initiative of Multi-Sectoral Technical and Economic Cooperation Summit (BIMSTEC).
BIMSTEC:
♦ Headquarters: Dhaka, Bangladesh.
♦ It is a sub-regional group of seven countries namely Bangladesh, India, Bhutan, Nepal,Myanmar, Sri Lanka and Thailand in the South-Asia region.
♦ Establishment : 6^th june 1997 through Bankok Declaration.
♦ Objective: To work in collaboration with its member countries in all 14 sectors including agriculture, poverty, counter terrorism, environment, culture , trade, technology etc. for better development in the South Asian region.