WTO Agreement on Safeguards | Current Affairs | Vision IAS
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Posted 24 Apr 2024

8 min read

WTO Agreement on Safeguards

  • India and other members of the World Trade Organisation (WTO) criticised European Union’s decision to extend its existing safeguard measure on steel products.
  • Under WTO Agreement on Safeguards, members can temporarily restrict imports of a product if it threatens to cause serious injury to their domestic industry.

 

  • About WTO Agreement on Safeguards
    • Agreement prohibits grey-area measures – using bilateral negotiations to pursue exporting countries to restrain exports voluntarily. 
    • It sets time limits on all safeguard actions, which should not last more than four years, although this can be extended up to eight years.
  • Tags :
  • WTO
  • Import

ASEAN Future Forum

  • External Affairs Minister for India participated virtually in the first ‘ASEAN Future Forum’, held in Hanoi, Vietnam.
    • ASEAN (Association of Southeast Asian Nations) is an intergovernmental organization aimed primarily at promoting economic growth and regional stability among its 10 members.

 

  • About ASEAN Future Forum
    • It was proposed by Vietnam at the 43rd ASEAN Summit in 2023.
    • It is a common platform for ASEAN member states as well as partner countries to share new ideas and policy recommendations.
    • It aims to contribute to promoting and shaping ASEAN’s development path.
  • Tags :
  • ASEAN
  • Regional Stability

Schengen Area

  • European Union (EU) has adopted new visa rules for Indian travellers to allow multiple-entry Schengen Visa with longer validity.

 

  • About Schengen area
    • It is world’s largest free travel area comprising 27 countries.
    • 27 countries include 23 of the 27 EU members and all members of the European Free Trade Association (Iceland, Liechtenstein, Norway and Switzerland).
    • Started in 1985 as an intergovernmental project between 5 EU countries– France, Germany, Belgium, the Netherlands and Luxembourg
  • Tags :
  • Schengen Area

Miyawaki Method

  • Embassy of Israel in India joined ‘Million Miyawaki’ project, a community-led initiative aimed at improving air quality in Indian cities through mass afforestation urban spaces.

 

  • About Miyawaki Method
    • Based on work of Japanese botanist Akira Miyawaki, it enhances green cover within a limited area.
    • It involves cultivating multi-layered forests that exhibit rapid growth and replicate natural biodiversity found in native forests.
    • Such forests lack some qualities of natural forests, like medicinal properties and ability to bring rain.
    • Benefits: Mitigate ecological impact of mining activities, creating carbon sinks, etc.