CSEET CURRENT AFFAIRS- INTERNATIONAL AFFAIRS - PART 3

SOUTH ASIAN ASSOCIATION FOR REGIONAL COOPERATION (SAARC)

SAARC Charter in Dhaka on 8 December 1985. SAARC comprises of eight Member States: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. The Secretariat of the Association was set up in Kathmandu on 17 January 1987.

The objectives of the Association as outlined in the SAARC Charter are: to promote the welfare of the peoples of South Asia and to improve their quality of life; to accelerate economic growth, social progress and cultural development in the region and to provide all individuals the opportunity to live in dignity and to realize their full potentials; to promote and strengthen collective self-reliance among the countries of South Asia; to contribute to mutual trust, understanding and appreciation of one another’s problems; to promote active collaboration and mutual assistance in the economic, social, cultural, technical and scientific fields; to strengthen cooperation with other developing countries; to strengthen cooperation among themselves in international forums on matters of common interests; and to cooperate with international and regional organizations with similar aims and purposes.

Decisions at all levels are to be taken on the basis of unanimity; and bilateral and contentious issues are excluded from the deliberations of the Association.

H.E. Esala Ruwan Weerakoon of Sri Lanka assumed office of the Secretary General of the South Asian Association for Regional Cooperation (SAARC) on 01 March 2020.

SAARC Chairmanship Current Chair: Nepal

From Date: 26-11-2014 (Till Date)

(For more updates, students may visit http://saarc-sec.org/)

THE GROUP OF TWENTY (G-20)

About G20

The Group of Twenty (G20) is the premier international forum for global economic cooperation. The participants are leaders from 19 countries and the European Union (EU). In addition, leaders of invited guest countries and representatives of invited guest international organizations participate in the summit along with leaders from the G20 members.

The G20 Summit is formally known as the “Summit on Financial Markets and the World Economy”. The G20 has sought to realize an inclusive and sustainable world through its contributions towards resolving these global issues.

History of G20 Summit

The G20 Finance Ministers and Central Bank Governors meetings were centered on major economic and monetary policy issues amongst major countries in the global financial system and aimed at promoting cooperation towards achieving stable and sustainable global economic growth for the benefit of all countries. The participating members in the meetings were the same as the current G20 members.

In November 2008, the inaugural G20 Summit was held in Washington, D.C.

The G20 holds a strategic role in securing future global economic growth and prosperity. Together, The G20 members represent around 85% of the global GDP, over 75% of the global trade, and about two- thirds of the world population.

Each year, the Presidency invites guest countries, which take full part in the G20 exercise. Several international and regional organizations also participate, granting the forum an even broader representation.

The G20 was founded in 1999 after the Asian financial crisis as a forum for the Finance Ministers and Central Bank Governors to discuss global economic and financial issues

The G20 was upgraded to the level of Heads of State/Government in the wake of the global

economic and financial crisis of 2007, and, in 2009, was designated the “premier forum for

international economic cooperation”.

How the G-20 works?

The presidency of the G20 rotates every year among its members, with the country that holds the presidency working together with its predecessor and successor, also known as Troika, to ensure the continuity of the agenda. Currently Indonesia, India and Brazil are the Troika countries.

The G20 has no permanent secretariat.

G20 in News

• G20 Leaders’ Summit 2023

The 18th G20 Heads of State and Government Summit will take place on 9th-10th September 2023 in New Delhi. The Summit will be a culmination of all the G20 processes and meetings held throughout the year among ministers, senior officials, and civil societies. A G20 Leaders’ Declaration will be adopted at the conclusion of the New Delhi Summit, stating Leaders’ commitment towards the priorities discussed and agreed upon during the respective ministerial and working group meetings.

• Logo and Theme of G20 Leaders’ Summit 2023

The theme of India’s G20 Presidency - “Vasudhaiva Kutumbakam” or “One Earth · One Family · One Future” - is drawn from the ancient Sanskrit text of the Maha Upanishad. Essentially, the theme affirms the value of all life – human, animal, plant, and microorganisms – and their interconnectedness on the planet Earth and in the wider universe.

For India, the G20 Presidency also marks the beginning of “Amritkaal”, the 25-year period beginning from the 75th anniversary of its independence on 15 August 2022, leading up to the centenary of its independence, towards a futuristic, prosperous, inclusive and developed society, distinguished by a human-centric approach at its core.

Workstreams by India for G20 Summit

G20 Summit at Indonesia (November 16, 2022)

l Prime Minister Shri Narendra Modi visited Bali, Indonesia from November 14-16, 2022 to attend the

17th G20 Summit at the invitation of the President of Indonesia, H.E. Mr. Joko Widodo.

• During the Bali Summit, G20 Leaders deliberated extensively upon key issues of global concern under the Summit theme of “Recover Together, Recover Stronger”.

• The leaders promised to take coordinated action to address food security challenges and applauded the Black Sea grains initiative.

• In his address on Digital Transformation, PM Modi highlighted the role of India in global Financial Inclusion. Leaders recognised the importance of digital transformation in reaching the sustainable development goals.

• Leaders across the world expressed their continuous commitment to promoting a healthy and sustainable recovery which builds towards achieving and sustaining universal health coverage.

• On the sidelines of the Summit, Prime Minister Narendra Modi hold bilateral meetings with his counterparts.