GS Paper 2
Topics Covered: Important International institutions, agencies and fora- their structure, mandate.
Context:
Prime Minister Narendra Modi delivered a video-address during the plenary session of the 6th Eastern Economic Forum (EEF) held in Vladivostok, Russia recently.
- It may be recalled that the PM was the Chief Guest for the 5th EEF in 2019.
About the ‘EEF’:
The Eastern Economic Forum was established by decree of the President of the Russian Federation Vladimir Putin in 2015.
- It supports the economic development of Russia’s Far East and to expand international cooperation in the Asia-Pacific region.
- It takes place each year in Vladivostok, a city in Russia.
- It serves as a platform for the discussion of key issues in the world economy, regional integration, and the development of new industrial and technological sectors, as well as of the global challenges facing Russia and other nations.
- Over the years, it has emerged as an international platform for discussing the strategy for developing political, economic and cultural ties between Russia and Asia Pacific.
Participants:
The Forum business programme includes a number of business dialogues with leading partner countries in the Asia-Pacific region, and with ASEAN, a key integration organization of dynamically developing nations in Southeast Asia.
About the FAR EAST:
- The Far East is the easternmost part of Russia.
- It borders two oceans, the Pacific and the Arctic, and five countries (China, Japan, Mongolia, the United States and the Democratic People’s Republic of Korea (DPRK)).
- The Far Eastern Federal District covers more than a third of the country’s territory.
- The Far East is rich in natural resources like diamonds, stannary, borax materials, 50 gold, tungsten, and fish and seafood.
- About 1/3 of all coal reserves and hydro-engineering resources of the country are here.
- Forests of the region comprise about 30% of the total forest area of Russia.
India’s interest in the EEF:
Going beyond the bonhomie and historical ties, India is also a key customer of the Russian arms industry.
- In March, India entered into a joint venture with Russia to manufacture the legendary Kalashnikov assault rifles in India.
- In 2018, Russia sold the S-400 advanced air defence system to India.
- India is interested in expanding the level of trade between the two countries.
- An area of special interest for India is the exploration of hydrocarbon reserves along the coast of Russia’s Far East.
Insta Curious:
How many time zones are there in Russia? Reference
InstaLinks:
- About the Arctic.
- About Asia Pacific.
- What are hydrocarbons?
- About EEF.
- About Russia’s Far East.
Mains Link:
Comment on India Russia bilateral trade and its significance.
Sources: Indian Express.
