Union Minister of Commerce & Industry attends the ministerial meeting of Indo-Pacific Economic Framework for Prosperity (IPEF). 

• Key highlights 
  • Announced New effort under the Clean Economy pillar:
    • Four new Cooperative Work Programs focusing on carbon markets, clean electricity, employment shifts in the move to clean energy, and sustainable aviation fuels.
    • Details on the IPEF Catalytic Capital Fund: Established in collaboration with Private Investment Development Group for climate infrastructure projects in IPEF economies.
  • Published details text of key agreements 

Cabinet approves Inter-Governmental Framework Agreement (IGFA) with UAE on India-Middle East Europe Economic Corridor (IMEC).

• Aim of the IGFA: To enhance bilateral relations and further strengthen relations between the two countries in the Ports, Maritime, and Logistics sectors.
  • It also includes exploring further potential of future joint investment and collaboration for development of the IMEC.
• About IMEC
  • It is a proposed transit network that aims at integration of Asia, Europe, and the Middle East.
    • It consists of railroad, ship-to-rail networks (road and sea), and road transport routes (and networks)
  • MoU was signed between India, European Union, France, Germany, Italy, Saudi Arabia, UAE, and the US at New Delhi G20 summit to establish it.

• Significance of IMEC
  • Enhancing Prosperity: Through an increased flow of energy and digital communications.
    • The combined GDP of IMEC nations is about 40 percent of the world’s total GDP.
  • It offers an alternative approach to China’s Belt and Road Initiative.
  • It will make the global supply chain more resilient.
  • Speed up trade between India and Europe and help India to increase strategic engagement with the Arab world.
• Challenges:  Complex geopolitics of the region (present Israel-Hamas crisis), lack of commitment regarding the financial cost, etc.

In 2+2 (Defence and Foreign) Dialogue, both countries explored ways to expand cooperation in energy, critical minerals, technology, and counter-terrorism.

• 2+2 Ministerial Dialogue is a meeting of Foreign and Defense Ministers from two countries to discuss issues of mutual interest. 
  • India has 2+2 Ministerial Dialogue with US, Australia, Japan etc.
• India-Brazil Bilateral Relations 
  • Political Relations: Strategic Partners since 2006. 
  • Cooperation in Multilateral Forums: It includes UN, G20, BRICS, IBSA (India, Brazil and South Africa) etc. 
    • G4 (Brazil, Germany, India, and Japan), support each other for permanent seats in UNSC. 
    • Part of India led alliance such as International Solar Alliance (ISA). 
    • Also enabling India close cooperation with MERCOSUR (regional trading bloc in South America). 
  • Trade: India is 5th largest trading partner of Brazil (2021). 
  • Space: ISRO launched Brazil’s satellite Amazonia-1 (2021).
  • Security: Joint statement and action plan for enhancing defense and security cooperation were signed (2020). 
  • Cooperation in Bio-fuels: Brazil is the world’s second-largest producer of biofuels. It is also part of Global Biofuels Alliance (GBA), an India-led Initiative. 
• Mechanism like Trade Monitoring Mechanism, Strategic Dialogue (NSA) etc. are playing key role in enhancing relationship by resolving issues.

India launched Operation Indravati to evacuate its nationals from Haiti to the Dominican Republic.

• As part of the ongoing operation, 12 Indians were evacuated.
• Haiti has been under a state of emergency after some armed groups attacked the country's largest prison in Port-au-Prince earlier this month.

7th GECF Summit concluded with Algiers Declaration, which is related to Natural Gas for a Secure and Sustainable Future. 

• About GECF
  • GECF, an intergovernmental organisation, seeks to build a mechanism for a meaningful dialogue between gas producers and consumers to improve the stability and security of supply and demand in gas markets around the world.
  • Vision: To make natural gas a pivotal resource for inclusive and sustainable development.
  • Members:
    • Full-fledged Members: Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, UAE and Venezuela. India is not a member.
    • Observer Status: Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique, Peru and Senegal.
  • Together, they represent 69% of the world’s gas reserves, 39% of the marketed production, and 40% of global gas exports.
  • GECF member countries collectively account for more than half of world LNG exports (51%).

African Union established Africa Club [also known as Alliance of African Multilateral Financial Institutions (AAMFI)] at its 37th Summit.

• About Africa Club
  • Coalition of African Multilateral Financial Institutions (AMFIs) to address shortcomings in global and continental financial architecture.
  • Seeks to introduce innovative financial instruments and provide a venue for debt management discussions.
  • Core membership: African Export Import Bank, Trade and Development Bank, Africa Finance Corporation, African Reinsurance Corporation, etc.
  • Membership will be open to all African Multilateral Financial Institutions.

Prime Minister addressed the third edition of Summit for Democracy. 

• Summit for Democracy
  • Genesis: Launched by the US in 2021, the summit has emerged as an important platform where democracies share experiences and learn from each other.
  • Aim: To strengthen democratic institutions, protect human rights, and accelerate the fight against corruption globally. 
  • Presidential Initiative for Democratic Renewal: It was launched in the 1st summit and supports initiatives for advancing technology for democracy, defending free and fair elections, independent media, etc.
  • US also provides financial aid to this initiative.

China has delineated the baseline in the Gulf of Tonkin, known in Chinese as Beibu Gulf. 

• Baselines, under UNCLOS 1982, are used to determine limits to territorial waters and Exclusive Economic Zones.
• Gulf of Tonkin is located off the coast of Northern Vietnam and Southern China.
  • Until now both countries have maintained friendlier relations in this Gulf despite their overlapping claims in South China Sea. 
  • The Red River (which flows across China and Vietnam) empties into this gulf.

Darien Gap has emerged as one of the world’s most dangerous and fastest-growing border crossings for illegal immigration.

• This route is taken when people migrate from South America to North America.
• About Darien Gap
  • Connects northern Colombia and southern Panama. 
  • Part of the Isthmus of Panama.
    • Isthmus is a narrow piece of land, with water on each side, that joins two larger pieces of land.
  • It is a hot, humid area marked by tropical rainforests, mangrove swamps, and low mountain ranges with cloud forest vegetation (tropical mountainous regions).

• US envoy to Lebanon emphasised situation along the blue line has to change to guarantee peace and security.

• About Blue line:
  • Israel and Lebanon have no official border separating them, except the Blue Line.
  • It was set by the United Nations in 2000.  It is made of blue barrels and runs from the Mediterranean to the Golan Heights to the east.
  • Its purpose was to confirm the withdrawal of Israeli forces from the south of Lebanon.

Note: Blue Line is also a learning ecosystem created by the UN System Staff College.