International Current Affairs - 2019

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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Cabinet approves signing UN Convention on Mediation

Union Cabinet chaired by Prime Minister Narendra Modi has approved signing of United Nations Convention on International Settlement Agreements (UNISA) resulting from mediation by India. It is scheduled to be signed in Singapore on 7th August, 2019 or at the United Nations.

UN Convention on International Settlement Agreement (UNISA)

It is also known as Singapore Convention on Mediation. It was adopted by UN General Assembly (UNGA) in December 2018.

It provides uniform framework for enforcement of international settlement agreements resulting from mediation and for allowing parties to invoke such agreements akin to framework that Convention on Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958) (New York Convention) provides for arbitral awards.

It defines two additional grounds upon which court may, on its own motion, refuse to grant relief. These grounds related to fact that dispute is not be capable of settlement by mediation or is contrary to public policy.

It ensures that settlement reached by parties becomes binding and enforceable in accordance with simplified and streamlined procedure.

It seeks to become essential instrument in facilitation of international trade and in promotion of mediation as alternative and effective method of resolving trade disputes. It also seeks to contribute to strengthening access to justice, and to the rule of law.

Benefits of signing for India

It will boost the confidence of investors. It will also provide positive signal to foreign investors about India’s commitment to adhere to international practice on Alternative Dispute Resolution (ADR).

Month:  Categories: International

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Sri Lanka exempts Visa Fees by Indian tourists

Sri Lankan Government has exempted Indian tourists from Visa Fees for tourism purposes. This decision comes into effect from 1 August 2019. With this move India is now among 48 countries whose citizens have been exempted from visa fees by Sri Lankan government.

Key Highlights

Visa fees, which ranged from $20 to $40, will not be charged for grant of 1 month visa for tourism.

Tourists can apply for electronic travel authorisations online or even apply for visa on arrival.

Measure will be implemented for 6 months initially and a decision will be taken later for extension depending upon its impact on revenue.

As per Sri Lankan Prime Minister Ranil Wickremsinghe revenues from enhanced tourism arrivals is expected to offset loss of the island nation.

Why Visa Exemtion?

Sri Lankan government asserted that security situation has retuned back to normal after Easter Sunday attacks as all criminal suspects have been taken into arrest. Due to the attacks Sri Lankan tourism has been impacted but tourism authorities claimed that there is a revival seen since July 2019.

Also Indian tourist constitute maximum number of tourist to Sri Lanka with around one fourth (25%) of total tourist arrivals.

Tourism is Sri Lanka’s 3rd largest and fastest growing source of foreign currency in 2018 which account for almost 5% percent of gross domestic product (GDP in 2018).

Month:  Categories: InternationalPlaces in News

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