Trade Current Affairs - 2020

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Corona virus: WHO increases global risk from moderate to high

On 27 January, 2020, the World Health Organization arrived in China to discuss the ways the Corona Virus is spreading. The death toll due to the virus has reached 106 and around 4,000 people have been infected so far.

Highlights

The WHO had earlier reported that the spread of the virus is moderate. However, it has now changed its status of risk of the virus as “high”.

Spread of the Virus

The virus has spread to France, China, Canada, US, Japan, Thailand, Sri Lanka. In India, an Indian medical student (Rajasthan) who recently travelled from China has been quarantined.

Effects of the virus

Several countries like US, Canada, India, France have warned against travel to China. The Global stocks have fell down and Chinese Yuan has dipped to its weakest level in 2020. The oil prices have hit a three-month low as China is making moves to keep its citizens at home. China has extended its Lunar New Year holiday to restrict people mobility in the country.

Chinese New Year

The Chinese follow a lunisolar calendar. The first day of the Chinese New Year always begins as a New Moon Day. The Lunisolar calendar divides a year into 24 solar terms.

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Haryana Government sets up new Foreign Cooperation Department

The Haryana Government has created a new department called Department of Foreign Cooperation. The aim of the department is to focus on initiatives that are taken by the state that promotes welfare of non-Resident Indians, investment and youth employment.

Key Features

  • The Foreign Cooperation Department will work to formulate country-wise strategies that will promote employment and investment in the state
  • The Department will work closely with the ministry of External Affairs to improve the international cooperation with the foreign provinces.
  • The Department will also help to increase engagement under twin city programmes of the Ministry of External Affairs

Objectives

  • The Department will pursue issues that involves cooperation between public and private sectors.
  • The main aim of the Department will be to work with bilateral and multilateral groups to promote the interest of the state in foreign countries.
  • It will focus on trade and investments predominantly
  • The Department will also maintain relations with Indian mission that are working abroad in matters that are related to the state of Haryana.

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