Current Affairs - May, 2019

Latest Current Affairs May, 2019 with Current Affairs, news summary on current events of National and International importance of May, 2019 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Vice President undertakes four-day visit to Vietnam

Vice President of India M. Venkaiah Naidu commenced his four-day official visit to Vietnam on 9 May 2019. His visit comes after a series of high-level exchanges between India-Vietnam in 2018 which include visit of Vietnamese Prime Minister in January and President in March to India.

Key Highlights of Visit

  • The Vice President will participate in 16th United Nations Day of Vesak (UNDV) at Tam Chuc pagoda in northern Ha Nam province of Vietnam. He will also deliver keynote address at inaugural session of event, themed for which is “Buddhist Approach to Global Leadership and Shared Responsibilities for Sustainable Societies”.
  • This visit is expected to enhance India’s Comprehensive Strategic Partnership with Southeast Asian nation, Vietnam.
  • He will visit Ho Chi Minh Mausoleum, to pay homage to Former Prime Minister (and also President) of Vietnam.
  • He will meet Indian community and Vietnamese beneficiaries of ‘Jaipur Foot Artificial Limb Fitment Camp’ organized in 2018 by India under ‘India for Humanity’ initiative. It was launched to commemorate 150th Birth Anniversary of Mahatma Gandhi.
  • He will pay tributes to martyrs at National Monument of Heroes and Martyrs (Vietnam’s War Memorial).
  • He will also meet Nguyen Kim Thi Ngan, Chairperson of National Assembly of Vietnam (Vietnam’s Legislative Assembly).
  • He will interact with Dang Thi Ngoc Thinh, Vice President of Vietnam and hold delegation level talks.
  • High level talks will discuss issues including: trade and investment relations between two nation, exploring opportunities in oil and gas sectors, giving better market access to India’s exports, mutual cooperation in defence and space technologies, training and capacity building of Vietnamese defence forces, seeking support for Indian Pharmaceutical facilities in Vietnam and strengthening of cultural bonds between two nations.

About 16th United Nations Day of Vesak

  • Vesak (also known as Buddha Jayanti or Buddha Purnima) is celebrated to commemorate birth of Lord Buddha, his attainment of enlightenment (nirvana) and his passing away. It’s date changes every year based on lunar calendar.
  • It is considered sacred to Buddhists.
  • Indian Vice President’s participation at event is expected to strengthen ties between India and Buddhist communities worldwide.

It is expected to be attended by more than 10,000 Buddhist followers, 1,500 religious dignitaries, scientists and researchers from all over the world.

Month: Categories: National

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CBIC organises meeting of WCO’s Asia Pacific Region

Central Board of Indirect Taxes and Customs (CBIC), under Ministry of Finance is organising a meeting of Regional Heads of Customs Administration of Asia Pacific Region of World Customs Organisation (WCO) in Kochi (in Kerela) from 8th to 10th May, 2019.

As India currently holds seat of Vice Chairperson of Asia Pacific region (assumed on 1 July 2018) for a two-year period, it is hosting this meeting in this capacity.

Key Highlights of Meeting

  • It will discuss about progress being made in carrying forward various initiatives and programmes of WCO, in promoting, securing and facilitating cross-border trade in Asia Pacific region. It will also look into capacity building and technical assistance required to achieve this goal.
  • Pranab Kumar Das, Chairman of CBIC will chair the meeting.
  • Participants: includes customs delegations from over 20 countries of Asia Pacific region and senior officials of WCO and its regional bodies namey Regional Intelligence Liaoning Office (RILO) and Regional Office for Capacity Building (ROCB).
  • Key Focus Areas: of meeting includes, implementation of trade facilitation measures, building capacity of small island economies (in Asia pacific region), cross-border e-commerce transactions, performance measurement, trusted trader programmes, and on-going review of Revised Kyoto Convention (RKC).

About WCO

  • It was established in 1952 as Customs Co-operation Council (CCC) and in 1994 it adopted its current name World Customs Organisation (WCO).
  • It is headquartered in Brussels (in Belgium).
  • It is an independent intergovernmental body, which seeks to enhance effectiveness and efficiency of Customs administrations.
  • It is only intergovernmental organisation which exclusively focuses on Customs matters.
  • One of its crucial role is to streamline cross border procedures and enhance security of global trade.
  • The governing body of WCO is ‘WCO Council’, which brings together all Members of Organization one time every year.
  • Functions: to maintain international Harmonized System (HS, also known as Harmonized Commodity Description and Coding System) of tariff nomenclature, and to administer technical aspects of World Trade Organization (WTO) Agreements on Customs Valuation and Rules of Origin.
  • Members: It represents 182 Customs administrations globally (which collectively undergoes about 98% of world trade). Its membership is divided into 6 regions. Each of these six Regions is represented by regionally elected Vice-Chairperson to WCO’s Council. India holds Vice Chair of Asia Pacific region of WCO for a two-year period.

Month: Categories: International

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