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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India, Iran, Afghanistan hold first trilateral on Chabahar port project

The first trilateral meeting between India, Afghanistan and Iran of Coordination Council of Chabahar Agreement was held in Tehran, capital city of Iran. India, Iran and Afghanistan in May 2016, had signed agreement which entailed establishment of transit and transport corridor among three countries using Chabahar Port as one of regional hubs.

Highlights of Meeting

Detailed discussions were held between three sides on full operationalisation of trilateral Agreement for international transit and transport through Chabahar port. They shared view that full operationalisation of Chabahar port will promote connectivity and economic development of Afghanistan and region. They also reviewed its implementation.

They also decided to constitute follow-up committee that will hold its first meeting within two months in Chabahar port. This committee will discuss and aim to finalise protocol to harmonise transit, roads, customs and consular matters for making the route attractive and decrease logistic costs. It was also decided to hold next meeting of the coordination council in India in the first half of 2019.

Comment

The meeting assumes significance as strategically-located Chabahar port on energy-rich Iran’s southern coast was coming under ambit of US sanctions on Iran. The sanctions were announced after US under President Donald Trump administration withdrew from 2015 Iran nuclear deal that lifted most of embargoes on Iran imposed for its suspected nuclear weapons programme. India is committed to Chabbar project despite threat of US sanctions on nations doing business with Iran including buying oil or investing in the country. It also has conveyed to US importance of Chabahar project, saying it can be major link for trade with war-ravaged Afghanistan.

Chabbar project

Chabahar is strategically located in Sistan-Balochistan province on energy-rich Iran’s southern coast in Gulf of Oman. It is less than 100 nautical miles from Chinese built port of Gwadar in Pakistan. India in 2003 had first proposed developing Chabahar port. The port is seen as golden gateway for India to access landlocked markets of Afghanistan and Central Asian markets bypassing Pakistan. India and Iran had signed lease agreement for operation of Shahid Beheshti port or phase 1 of Chabahar in February 2018. Under the terms of this agreemetn, India Ports Global Ltd (IPGL), an Indian company was to take over interim operations of tport Chabahar and operate terminal for 18 months.

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Asian Economic Integration Report 2018: Key Highlights

The Asian Economic Integration Report 2018 was presented by Asian Development Bank. The report is an annual publication of ADB with a focus on progress in cooperation and migration.

Key highlights of the report

  • The report revealed that India hosts the highest number of outward international migrants in 2017.It was followed by China and Bangladesh.
  • About one third of international migrants were from Asia in 2017.
  • The number of Asian migrants headed to regional destinations declined shortly.
  • FDI in the Asian region remain stable with 517.5 billion in 2017.
  • Asia’s share of global inward foreign FDI reach up to 36.2 percent in 2017.
  • Labor demand is the main factor behind the international migration on such a large scale. 72.7 percent of the migrants enter the labor market in host countries.
  • This year in the report there was a special chapter “Toward Optimal Provision of Regional Public Goods in Asia and the Pacific”. The chapter stressed on that the optimal provision of Regional public goods can be a solution for development challenges in the era of economic interdependence.
  • Regional public goods are those are produced and collectively consumed by a public sector or by both private and public sector as appropriate and have potential to generate shared benefits among the countries. These includes climate change, anti corruption, good governance, human development, cross border infrastructure, cross border disease surveillance, and all other goods that have benefits beyond a single territory.

About ADB

The Asian Development Bank is a regional development Bank established in 1966 with Headquarters in Manila, Philippines. The bank is composed of 67 members out of which 48 are from Asia Pacific region. Takehiko Nakao is Present President of the Asian Development Bank. The bank helps its member countries by providing loans, grants and technical assistance to enable social and economic development and to eradicate poverty.

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