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BRICS 2016: Major defence deals signed between India & Russia and their benefits

BRICS is an association of five major emerging national economies. It is the acronym of Brazil, Russia, India, China and South Africa. This acronym was first used in 2001 by Goldman Sachs. Initially, they were grouped in four i.e. “BRIC” and later South Africa was included in 2010. So far seven BRICS Summit have taken place. And all five BRICS members are G-20 members. The 8th BRICS Summit was hosted by India in 2016 at Goa. Important deals signed between Russia and India is explained in this article.

World Summit on Sustainable Development | Earth Summit II |Rio +10

The World Summit on Sustainable Development was also known as Earth Summit II or Rio +10 which was organised after 10 years of the first Earth Summit 1992 at Rio de Janeiro to discuss on the sustainable development by the United Nations. The Summit gives a political statement in the form of a "Johannesburg Declaration", to be agreed by world leaders, reaffirming their commitment to work towards sustainable development.

Pan American Health Organisation: Inter-American System for Health

The Pan American Health Organisation was founded on December 2, 1902 as the health organization of the Inter-American System. The prime objective and mission of the organisation revolving around the improvement and the protection of the public health.

UN Conference on Environment and Development

The UN Conference on Environment and Development is another name of Rio de Janeiro Earth Summit, Rio Summit, Rio Conference, and Earth Summit. It was the first conference on the global environment to rethink economic development and find ways to stop the destruction of irreplaceable natural resources and pollution of the Earth.

UN Capital Development Fund (UNCDF)

The United Nations Capital Development Fund (UNCDF) is one of the specialised agencies of UNO that creates investment path for the world’s 48 least developed countries. It increases access to microfinance and investment capital through which it creates new opportunities for poor people and their communities. It was established by UN’s General Assembly in 1966 as an autonomous UN organization affiliated with UNDP.

United Nations Industrial Development Organisation (UNIDO)

The United Nations Industrial Development Organisation is one of the specialized agencies of the United Nations System. It was formed as independent body in 1966 but converted as UN’s specialized agency in 1985 to promotes industrial development for poverty reduction, inclusive globalization and environmental.

International Atomic Energy Agency (IAEA)

The International Atomic Energy Agency (IAEA) is an intergovernmental forum for the scientific and technical co-operation in the nuclear field world-wide. It was established as autonomous organisation on 29 July 1957. The prime objective of the forum is to works for the safe, secure and peaceful utilisation of nuclear science and technology.

Universal Postal Union (UPU)

The Universal Postal Union (UPU) is one of the specialised agencies of the United Nation Organisation that coordinates the postal policies among member’s countries. It was established in 1874 with the name of "General Postal Union" under the influence of Treaty of Bern, but in 1878 the name was changed to "Universal Postal Union”.

Non-Governmental Organisations

A non-governmental organization (NGO) is a non-profit organisation which is task-oriented and driven by people with a common interest that organised at local, national or international level. It is diverse groups of organizations engaged in an extensive range of activities which is revolving around services like human rights, environment or health and humanitarianism. In 1945, the term "non-governmental organization" was firstly coined during the establishment year of United Nation Organisation.

International Bureau of Education | Institute for Curriculum Excellence

The International Bureau of Education is a leading UNESCO institute which was formed as a leader of the Global Centre of excellence in Curriculum and related matters. It was created as private organization in 1925 and in 1929, became the first intergovernmental organization that works in the field of Education.

European System of Central Banks

The European System of Central Banks was founded on 1 June, 1998 on the basis of the Maastricht Treaty and the Statute of the European System of Central Banks and of the European Central Bank. The prime objective of the institution is to maintain the price stability in the European Union and to improve monetary and financial cooperation between the Euro- system and member states outside the euro-zone.

European Investment Bank (EIB) | Lending Institution of European Union

The European Investment Bank (EIB) is a non-profit long-term lending institution of European Union (EU). It is established under treaty of Rome in 1958. It provides three types services: Lending; Blending; Advising and technical assistance.

European Commission (EC)

The European Commission (EC) is the administrating body of the European Union whose prime function is to propose legislation, implement decisions and uphold the EU treaties and managing the day-to-day business of the EU. It is established on January 16, 1958 as institution that represents the interests of the European Union as a whole (not the interests of individual countries).

Trade Policy Review Mechanism (TPRM)

The Trade Policy Review Mechanism (TPRM) is the instrument of transparency of the World Trade Organisation (WTO). It was founded at the Montreal Mid-Term Review of the Round in December 1988 to adhere the inherent value of domestic transparency of government decision making in the multilateral trading system.

North Atlantic Council | Political Decision-Making Body of NATO

The North Atlantic Council (NAC) is the apex body political decision-making body of North Atlantic Treaty Organisation (NATO).  It was established through article 9 of North Atlantic Treaty in 1949.

Trade Related Investment Measures

The Trade Related Investment Measures (TRIMs) is a set of rules that apply to the domestic regulations a country applies to foreign investors, often as part of an industrial policy. The agreement was unanimously accepted by all members of the World Trade Organization and came into force in 1995.

Ozone Depleting Substances

The Ozone Depleting Substances are those substances that damage the ozone layer. Ozone is a special form of oxygen, found in the stratosphere that encircling the Earth and absorbs most of the Sun's ultraviolet (UV) radiation. The Montreal Protocol is the first worldwide agreement designed to protect human health and the environment against the adverse effects of the depletion of the stratospheric ozone layer.

Information Technology Agreement

The World Trade Organisation enforced an agreement of “Information Technology Agreement “to lower all taxes and tariffs on information technology products by signatories to zero. It came into force on July 1 1997.

Dispute settlement in the World Trade Organization

The Dispute settlement understanding is the central pillar of the multilateral trading system of the World Trade Organisation framed as a legal text containing the rules for dispute settlement in the WTO. The current dispute settlement system of WTO was created during Uruguay Round. It is embodied in the Understanding on Rules and Procedures Governing the Settlement of Disputes, commonly referred to as the Dispute Settlement Understanding and abbreviated “DSU”.

Union for International Cancer Control

The Union for International Cancer Control is a non-governmental organisation which was founded in 1933 to accelerate the fighting spirit of global health community against cancer.

Most Favoured Nation | Definition, Concept and Clause

The Most Favoured Nation is one of the principles of WTO (World Trade Organisation) which gives the privileges to the one country to another for non-discriminatory trade policy commitment on a reciprocal basis that means both the countries enjoy lowest import-duty and quota-restrictions on imports from each other.

International Olympic Committee

The International Olympic Committee was established on 23 June 1894 as an international, non-profit, non-governmental organization to encourage and support the promotion of ethics in sports as well as education of youth through sports.

United Nations Population Fund (UNFPA)

The United Nations Population Fund (UNFPA) is a specialised agency of UN for women and young people to lead healthy and productive lives. It starts working from 1969 as the United Nations Fund for Population Activities but in 1987, it was named as United Nations Population Fund (UNFPA).

Palestinian Liberation Organization

The Palestinian Liberation Organization (PLO) was formed in 1964 for the liberating Palestine from Israel through armed struggle. It is a broad national front or an umbrella organisation of organisations of the resistance movement, political parties and independent personalities and figures from all sectors of life.

Ballistic Missile Defence

The Ballistic Missile Defence has become political symbol as a weapon is a system to protect the homeland of concern countries to defend against attacks by one or a few missiles. The Countries like United States of America, Russia, China, India, Israel and France have developed Ballistic Missile Defence.

Technical Barriers to Trade

The Technical Barriers to Trade is a category of non-tariff barriers to trade that came into existence to avoid the non-discriminatory procedures of technical regulation, standards and conformity assessment and also to avoid unnecessary obstacles to trade. It was negotiated in the beginning of 1995 during Uruguay Round of General Agreement on Tariffs and Trade and came into force after the establishment of the WTO.

Inter-Continental Ballistic Missile

The Inter-Continental Ballistic Missile (CBM) is a guided ballistic missile designed for nuclear weapons delivery with a minimum range of 5500 kilometres. It was first developed under the team of Wernher von Braun by Nazi Germany for bombing on New York and other American Cities during World War II.

Trade Related Intellectual Property Rights

The Trade Related Intellectual Property Rights is an agreement of intellectual property regulation which is internationally accepted and administered the World Trade Organisation. The agreement was negotiated at the end of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) of 1994 when United Nation of America lobbied intensely with the help of European Union, Japan and other developed countries.

Arms Control and Disarmament Agency

The Arms Control and Disarmament Agency was established on September 26, 1961 as an independent agency of US Disarmament Administration with the objectives of the organisation is to strengthen United States national security by "formulating, advocating, negotiating, implementing and verifying effective arms control, non-proliferation, and disarmament policies, strategies, and agreements.

Common Market for Eastern and Southern Africa

The Common Market for Eastern and Southern Africa was established on December 1994 by replacing Preferential Trade Area (PTA) as an organisation of free independent sovereign states with an objective to form a large economic and trading unit that is capable of overcoming the barriers that are faced individual states.

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