Showing posts with label Trade. Show all posts
Oct 10, 2015
High-risk area boundary of maritime piracy shifted from India’s western coastline
High-risk area (HRA) boundary of maritime Piracy has been shifted from 78 degrees East to the 65 degrees East longitude off India’s western coastline.
Decision in this regard was taken by European Union Chair of the Contact Group of Piracy off the Coast of Somalia (CGPCS) and will come into effect from December 1, 2015.
Background
- The HRA boundary was shifted from 65o E to 78o E longitude after surge in number of piracy cases from 2008 to 2013 off the east coast of Somalia in the Gulf of Aden i.e. near Horn of Africa (East Africa).
India, Ecuador ink Protocol to establish Ecuador Joint Economic and Trade Committee
India and Ecuador has signed a Protocol for the establishment of the India-Ecuador Joint Economic and Trade Committee (JETCO) to enhance bilateral trade and investment relations.
It was signed by Mentor Villagomez, Ecuadorian Ambassador to India and Rita Teotia, Commerce Secretary during the meeting between delegations of both countries.
India-Ecuador Joint Economic and Trade Committee (JETCO)
- JETCO aims to further improve, deepen and strengthen the existing trade relationship between India and Ecuador.
Oct 6, 2015
12 Pacific Rim countries sign Trans-Pacific Partnership (TPP) Agreement
12 other Pacific Rim countries have signed Trans-Pacific Partnership (TPP) agreement which covers about 40 per cent of the world economy.
These 12 countries are: Singapore, Malaysia, Vietnam, Brunei Darussalam, Japan, Canada, United States, Mexico, Peru, Chile, Australia and New Zealand.
The final agreement was signed after five days of talks in Atlanta, US which was under negotiation for five years and was delayed repeatedly by negotiations over drug patents.
It should be noted that China being world’s second-largest economy has been not part of the agreement.
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