Tuesday, November 24, 2015

International Organisations: SCO, ASEAN, AIFTA

We have already published one article on BIMSTEC, SAARC, SAPTA & SAFTA. If you haven't read that article read here. Here we will study another three organisations.

Shanghai Cooperation Organisation (SCO) 

It is a Eurasian political, economic and military organisation which was founded in 2001 in shanghai by the leaders of china, Kazakhstan,  Kyrgyzstan, Russia, Tajikistan and Uzbekistan. Except for Uzbekistan, the other countries had been members of the "Shanghai Five", after the inclusion of Uzbekistan in 2001, the members renamed the organisation. On July 10, 2015, the SCO decided to admit India and Pakistan as full members, and they are expected to join by 2016.

Association of Southeast Asian Nations (ASEAN)

ASEAN is a political and economic organization of ten Southeast Asian countries. It was formed on 8 August 1967 by Indonesia, Malaysia, the Philippines, Singapore, and Thailand. Since then, membership has expanded to include Brunei, Cambodia, Laos, Myanmar (Burma), and Vietnam. Regional Comprehensive Economic Partnership (RCEP) consist of all  members of ASEAN   and six countries (China, Japan, South Korea, Australia, India, New Zealand) which have a trade agreement with ASEAN countries.  RCEP covers 45% of world population and about a third of world's total GDP.
Note: India is not a member. India has trade agreement with ASEAN

If you can't explain it simply, you don't understand it well enough - Albert Einstein

ASEAN-India Free Trade Area (AIFTA) 

It is a free trade area among the ten member states of the ASEAN and India. The initial framework agreement was signed on 8th October 2003 in Bali, Indonesia and the final agreement was on 13th August 2009. The free trade area came into effect on 1st January 2010. India hosted the latest ASEAN-India Commemorative Summit in New Delhi on 20th-21st December 2012. India hosted the ASEAN-India Commemorative Summit in New Delhi on 20–21 December 2012.


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