International Current Affairs - 2020

Latest International Current Affairs 2019 with news summaries and current events in International developments, geopolitical, organizations, groupings and fora related updates for India and world with all important national news updates and events for the year 2019.

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China moves against Pakistan in FATF, Turkey now the only supporter

China has joined India and United States in putting Pakistan on Grey list of the FATF (Financial Action Task Force). Both China and Saudi Arabia have joined US, India and other European countries sending stern messages to Pakistan against its actions of terror funding money laundering

Highlights

A Plenary session of the FATF is to be held in June 2020. China, Saudi Arabia and Turkey were the three countries that supported Pakistan against FATF move in putting Pakistan under Grey List. Now Turkey and Malaysia are the only supporters. 12 out of 39 votes are required to move out of FATF list which Pakistan will not be able to.

Pakistan is currently on Grey List of FATF and with its major supporters withdrawing their backing, Pakistan will continue to remain on FATF Grey list. Pakistan was put on the list in June 2018. It was given a plan of action which the country was supposed to complete by October 2019. Failing of which will place it under black list.

FATF Grey List and Black List

The FATF is a Paris based organization that combats terrorism funding and money laundering.

Grey List

The countries that are not safe and are supporting money laundering and terror funding are included in the list.

Black List

The countries that is uncooperative tax havens for terror funding. They are also called Non-Cooperative Countries or Territories (NCCTs).

Countries currently in Black List and Grey List

The lists now have been renamed to “Call for Action” and “Monitored Jurisdiction”. The Call for Action countries or the Black List Countries include Iran and North Korea.

The Monitored Jurisdiction or Grey List include Iceland, Ghana, Botswana, Syria, Yemen, Pakistan, Mongolia and Cambodia.

The above lists are updates as of February 20, 2020.

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Task Force Meet: India and Norway to strengthen their BLUE ECONOMY PARTNERSHIP

In January 2019, India and Norway jointly inaugurated a Task Force of Blue Economy for Sustainable Development. The third meet of the task force was held on February 18, 2020.

They also launched a new collaboration of Integrated Ocean Management and Research at the meet.

Highlights

India and Norway have been strengthening their ties making Indo-Norwegian Ocean Cooperation as a key pillar in their bilateral relationship. The task force aims at mobilizing stakeholders of India and Norway at the highest level to ensure progress across ministries and agencies.

Significance

India being the largest democracy plays a major role in sustainable development both globally and regionally. Also, 15% of Indian population residing in Norway are in the coastal region. Above all, 70% of the Norwegian Economy depends on maritime industry of the country.

The task force was set up at the India Norway Business Summit.

India Norway Business Summit

The Summit was held in New Delhi in January 2019 during the visit of Norwegian PM to India. Around 15 MoUs were signed at the summit. It includes sustainable sea food production, smart grids, energy markets, green shipping, digital solutions, etc. Green shipping is use of LNG.

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