1. Consider the Following Regarding Trade Agreements

1. FTAs, a form of trade pacts, determine the tariffs and duties that countries impose on imports and exports with the goal of reducing or eliminating trade barriers, thus encouraging international trade.
2. The Comprehensive Economic Partnership Agreement (CEPA) is equivalent to free trade agreement.
3. CEPA between India and South Korea was signed in 2009.

Which of the given above is /are Correct? 

1. Only 1 Statement is Correct
2. Only 2 Statements are Correct
3. All 3 Statements are Correct
4. None of The Above are Correct

2. Consider the Following With Context to International Court of Justice (ICJ)

1. The ICJ is the only international court that adjudicates general disputes between countries.
2. The International Court of Justice is composed of 15 judges elected to nine-year terms of office by the United Nations General Assembly.
3. Judges are Not Eligible for Re- Election.

Which of the above statements are Incorrect?

1. 1 only
2. 2 and 3 only
3. 1, 2 and 3
4. 3 Only

3. Consider the Following Statements in context to Basic Exchange & Cooperation Agreement (BECA) and choose the Incorrect Statement

• India and the United States on October 27, 2020, signed the Basic Exchange and Cooperation Agreement (BECA).
• BECA allows the militaries of the US and India to replenish from each other’s bases, and access supplies, spare parts and services from each other’s land facilities, air bases, and ports, which can then be reimbursed.
• BECA will help India get real-time access to American geospatial intelligence
• All Statements are Correct.

4. Consider the following statements regarding G7

1. The G7, originally G8, was set up in 1975 Under the Paris Treaty bringing together the leaders of the world’s leading industrial nations
2. G7 has its Permanent Secretariat in Geneva.

Which of the statements given above is/are correct?

1. Only 1 
2. Only 2 
3. Both 1 & 2 
4. Neither 1 nor 2 

5. Consider the following statements with reference to Indo Pacific Oceans Initiative (IPOI):

1. At the 14th East Asia Summit (EAS) in Bangkok, in November 2019, India announced its Indo Pacific Oceans Initiative (IPOI)
2. IPOI is an open, non-treaty-based initiative for countries to work together for cooperative and collaborative solutions to the common challenges in the region of Indo-pacific

Which of the above statements given above is/are correct?

1. 1 Only
2. 2 Only
3. Both 1 & 2
4. Neither 1 nor 2

Answers with Explanations

1. Consider the Following Regarding Trade Agreements

1. FTAs, a form of trade pacts, determine the tariffs and duties that countries impose on imports and exports with the goal of reducing or eliminating trade barriers, thus encouraging international trade.
2. The Comprehensive Economic Partnership Agreement (CEPA) is equivalent to free trade agreement.
3. CEPA between India and South Korea was signed in 2009.

Which of the given above is /are Correct? 

1. Only 1 Statement is Correct
2. Only 2 Statements are Correct
3. All 3 Statements are Correct
4. None of The Above are Correct

Answer: 2

Explanation

CEPA

• CEPA is a bilateral agreement that covers trade in goods and services, investment, competition & IPRs.
• India-UAE Comprehensive Economic Partnership Agreement (CEPA) entered into force in 2022.
• It is expected to increase the total value of bilateral trade in  goods to over US$100 billion and in services to over US$15  billion within five years. 
• The CEPA is likely to benefit about $26 billion worth of Indian products that are currently subjected to 5%  import duty by the UAE
• Around 90% of products exported from India to UAE will attract zero duty.

CEPA VS FTA

• A CEPA is more comprehensive and ambitious than an FTA because it includes services, investment, IPR, government procurement, disputes, and regulatory aspects of the trade. 
• An FTA, in contrast, focuses only on goods.

Additional Information

• India has signed CEPAs with South Korea and Japan.
• In 2021, India and the United Arab Emirates (UAE) formally launched negotiations on the India-UAE CEPA.
• India is also looking to advance a CEPA with Bangladesh.
• In 2022, India &  South Korea decided CEPA up-gradation negotiations as soon as possible in a time bound manner building upon support from relevant stakeholders, so as to try to achieve the target of USD 50 Billion before 2030.

2. Consider the Following With Context to International Court of Justice (ICJ)

1. The ICJ is the only international court that adjudicates general disputes between countries.
2. The International Court of Justice is composed of 15 judges elected to nine-year terms of office by the United Nations General Assembly.
3. Judges are Not Eligible for Re- Election.

Which of the above statements are Incorrect?

1. 1 only
2. 2 and 3 only
3. 1, 2 and 3
4. 3 Only

Answer: 2

Explanation

ICJ

• • The International Court of Justice is the principal judicial organ of the United Nations. 
  • Its seat is at the Peace Palace in the Hague (Netherlands). 
  • It is the only one of the six principal organs of the United Nations not located in New York (United States of America).

• The Court’s role is to settle, in accordance with international law, legal disputes submitted to it by States and to give advisory opinions on legal questions referred to it by authorized United Nations organs and specialized agencies. 

• The International Court of Justice functions in accordance with its Statute.

• The Court is composed of 15 judges, who are elected for terms of office of nine years by the United Nations General Assembly and the Security Council. 

• It is assisted by a Registry, its administrative organ. Its official languages are English and French.

• The International Court of Justice is composed of 15 judges elected to nine-year terms of office by the United Nations General Assembly and the Security Council. 

• These organs vote simultaneously but separately. 

• In order to be elected, a candidate must receive an absolute majority of the votes in both bodies.

• In order to ensure a degree of continuity, one third of the Court is elected every three years. 

Judges are eligible for re-election.

3. Consider the Following Statements in context to Basic Exchange & Cooperation Agreement (BECA) and choose the Incorrect Statement

1. India and the United States on October 27, 2020, signed the Basic Exchange and Cooperation Agreement (BECA).
2. BECA allows the militaries of the US and India to replenish from each other’s bases, and access supplies, spare parts and services from each other’s land facilities, air bases, and ports, which can then be reimbursed.
3. BECA will help India get real-time access to American geospatial intelligence
4. All Statements are Correct.

Answer: 2

Explanation

BECA

• BECA will help India get real-time access to American geospatial intelligence.
• This will enhance the accuracy of automated systems and weapons like missiles and armed drones. 
• Through the sharing of information on maps and satellite images, it will help India access topographical and aeronautical data, and advanced products that will aid in navigation and targeting.
• Just as your radio cab (or the GPS in your smartphone) helps you zero in on the path to your destination and helps you reach it quickly and efficiently.
• BECA will provide Indian military systems with a high-quality GPS to navigate missiles with real-time intelligence to precisely target the adversary.

Significance of BECA

• This is in sync with increasing formalization of QUAD, which can be seen in the joining of Australia in the Malabar naval exercises.
• India will be able to keep a close watch on the movements of Chinese warships in the Indian Ocean.

LEMOA

• LEMOA (Logistics Exchange Memorandum of Agreement) was signed in August 2016. 
• LEMOA allows the militaries of the US and India to replenish from each other’s bases, and access supplies, spare parts and services from each other’s land facilities, air bases, and ports, which can then be reimbursed.
• LEMOA is extremely useful for India-US Navy-to-Navy cooperation, since the two countries are cooperating closely in the Indo-Pacific. 
• To put the usefulness of this agreement in simple terms, it is like being able to stop at a friend’s garage or workshop to refuel your car or get it repaired when you are far away from your own home or workshop.

4. Consider the following statements regarding G7

1. The G7, originally G8, was set up in 1975 Under the Paris Treaty bringing together the leaders of the world’s leading industrial nations
2. G7 has its Permanent Secretariat in Geneva.

Which of the statements given above is/are correct?

1. Only 1 
2. Only 2 
3. Both 1 & 2 
4. Neither 1 nor 2 

Answer: 4

Explanation

About G7

• The G7, originally G8, was set up in 1975 as an informal forum bringing together the leaders of the world’s leading industrial nations.
• The summit gathers leaders from the European Union (EU) and the following countries: Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.
• The major purpose of the G-7 is to discuss and deliberate on international economic issues.
• It sometimes acts in concert to help resolve other global problems, with a special focus on economic issues.
• Russia was formally inducted as a member in the group in 1998, which led G7 to become G8. 

You Must Know

• The G7 is not based on a treaty and has no permanent secretariat or office. 
• It is organized through a presidency that rotates annually among the member states.
• With the presiding state setting the group’s priorities and hosting and organizing its summit.

5. Consider the following statements with reference to Indo Pacific Oceans Initiative (IPOI):

1. At the 14th East Asia Summit (EAS) in Bangkok, in November 2019, India announced its Indo Pacific Oceans Initiative (IPOI)
2. IPOI is an open, non-treaty-based initiative for countries to work together for cooperative and collaborative solutions to the common challenges in the region of Indo-pacific

Which of the above statements given above is/are correct?

1. 1 Only
2. 2 Only
3. Both 1 & 2
4. Neither 1 nor 2

Answer: 3

Explanation

Indo Pacific Ocean Initiative

• At the 14th East Asia Summit (EAS) in Bangkok, in November 2019, India announced its Indo Pacific Oceans Initiative (IPOI).
• India emphasised the need to work together to seek common solutions while following a rule-based international order. 

Vision of IPOI

• The IPOI sought a safe, secure, and stable maritime domain in the region. 
• Partnerships amongst Willing countries to –

• • Enhance Maritime Security
  • Sustainability of Marine resources
  • Disaster Prevention and Management

Pillars of IPOI

• Capacity Building and Resource Sharing
• Disaster Risk Reduction and Management
• Maritime Ecology
• Maritime Resources
• Maritime Security
• Science, Technology and Academic Cooperation
• Trade Connectivity and Maritime Transport

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