International Current Affairs

Nepal, China sign three pacts to boost energy, economic ties

China and Nepal have signed three pacts to further boost their ties in power, energy and economic sectors. The agreements signed cover oil and gas resources exploration, economic and technological cooperation and promotion of investment.

These agreements were signed after visiting Chinese Vice-Premier Wang Yang held discussions with Nepal’s Deputy Prime Ministers Bijaya Kumar Gachhadar and Krishna Bahadur Mahara.

Key Facts

The agreements cover three different domains viz. (i) economic and technological cooperation, (ii) framework agreement on promotion of investment and economic cooperation and (iii) China-aid oil and gas resources survey project.

These pacts also include a feasibility study for excavating natural gas and petroleum in mountain areas and plains of Terai region of the Himalayan country. They will help to make significant contributions in Nepal’s socio- economic transformation.

Both countries also agreed to establish hydropower projects and transmission lines and take steps for technological development in Nepal, which suffers from acute shortage of electricity. China also agreed to upgrade 114-kilometre Araniko highway- an old route connecting two countries, which was damaged and subsequently closed after the massive 2015 Nepal earthquake.

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12 August: International Youth Day

The International Youth Day is observed across the world on 12 August to draw attention to a given set of cultural and legal issues surrounding youth.

The theme for this year is ‘Youth Building Peace‘. It aims at celebrating young people’s contributions in preventing conflicts and bringing about transformations along with social justice, inclusion and sustainable peace. It also reaffirms the important role youth can play in deterring and resolving conflicts, and are key constituents in ensuring the success of both peacekeeping and peacebuilding efforts

Background

The International Youth Day (IYD) was instituted by the United Nations General Assembly (UNGA) by passing resolution 54/120 in December 1999. It was first observed on 12 August, 2000.

The day was instituted by UNHA on the recommendation made by the World Conference of Ministers Responsible for Youth held in Lisbon (Portugal) from 8 to 12 August 1998.

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