SCO Interbank Consortium: Recently, under the chairmanship of India, the XIX Council Meeting of the Shanghai Cooperation Organisation Interbank Consortium (SCO IBC) was held in Goa. It was established by the member countries of the Shanghai Cooperation Organisation in 2005.It provides funding and bank services for investment projects sponsored by the governments of the SCO member states.The main objectives of the consortium are to provide financial services, promote trade, and facilitate investment among the member states.The SCO IBC Council meets ad hoc upon the consensus of all of the parties at least once per year. The Presidency of the Council is carried out on a rotational basis.It consists of major banks from the member countries, such as the Industrial and Commercial Bank of China, the National Bank of Kazakhstan, and the Bank of Russia.The first meeting of the SCO Interbank Association was held in Beijing in February 2006.
One Earth One Health – Advantage Healthcare India 2023: The Prime Minister inaugurated the 6th Edition of One Earth One Health – Advantage Healthcare India 2023 meet and expressed India’s commitment to making healthcare accessible and affordable not only for its citizens but for the whole world.The need for an integrated, inclusive, and institutional global response to healthcare challenges was discussed and India’s traditional healthcare systems that holds many answers to stress, and lifestyle diseases was highlighted.
The two-day conclave, attended by Health Ministers of several countries and other stakeholders from public and private sectors, aims to promote global collaborations and partnerships for achieving Universal Health Coverage through value-based healthcare.
The event also aims to showcase India’s strength in medical value travel as an exporter of healthcare workforce providing value-based healthcare services and its emergence as a major hub for world-class healthcare and wellness services.
European Free Trade Association: India and the four-nation bloc EFTA recently discussed ways to resume negotiations for a free trade agreement with a view to strengthening economic ties between the two regions. It is an intergovernmental organization established in 1960 by the Stockholm Convention. Objective: Promotes free trade and economic integration between its members within Europe and globally. EFTA currently has 4 member countries: Iceland, Liechtenstein, Norway and Switzerland. The EFTA countries have developed one of the largest networks of Free Trade Agreements (FTAs). These FTAs span over 60 countries and territories, including the European Union (EU). In contrast to the EU, EFTA is not a customs union. This means that the individual EFTA States are free to set their own customs tariffs and arrange other foreign trade measures vis-à-vis the non-EFTA States. EFTA’s highest governing body is the EFTA Council. It generally meets 8 times a year at the ambassadorial level and twice a year at the ministerial level. The headquarters of the EFTA Secretariat is located in Geneva. It assists the EFTA Council in the management of relations between the 4 EFTA States and deals with the negotiation and operation of EFTA’s FTAs. EFTA Surveillance Authority (ESA) monitors compliance with European Economic Area (EEA) rules in Iceland, Liechtenstein and Norway. EFTA Court is based in Luxembourg and has the competence and authority to settle internal and external disputes regarding the implementation, application or interpretation of the EEA agreement.
European Economic Area (EEA):It consists of the Member States of the European Union (EU) and three countries of the European Free Trade Association (EFTA) (Iceland, Liechtenstein and Norway, excluding Switzerland).The Agreement on the EEA entered into force on 1 January 1994.
It seeks to strengthen trade and economic relations between the member countries.
It is principally concerned with the four fundamental pillars of the internal market, namely: the free movement of goods, people, services and capital
Devka SeaFront: The Prime Minister, Shri Narendra Modi dedicated to the nation, Namo Path, Devka Seafront in Daman. The 5.45 km Devka Seafront is a one-of-its-kind coastal promenade in the country which is expected to boost the local economy and attract more tourists to the region while making it a hub for leisure and recreation activities. The Seafront has been transformed into a world-class tourist destination including smart lighting, parking facilities, gardens, food stalls, recreational areas and provision for luxury tent cities in future.