India, Georgia to Study Free Trade Agreement Scope

A high level delegation led by the Minister of Economy and Sustainable Development of Georgia, Mr.Giorgi Gakharia called on the Commerce & Industry Minister Nirmala Sitharaman today on 11th April 2017, ahead of a Joint Statement on the launching of the Joint Feasibility Study on the Free Trade Agreement between the two nations.

Upon the completion of the Joint Feasibility Study the Republic of India and Georgia may proceed to negotiations on an FTA once the internal procedures are completed and the mandates on negotiations are approved.In this regard, the Joint Feasibility Study Group consisting of the officials of the two countries has been established. Joint Secretary, Foreign Trade (CIS), Department of Commerce, Government of India and Mr. Genadi Arveladze Deputy Minister of Economy and Sustainable Development of Georgia would be the leaders, respectively of Indian and Georgian side.

The purpose of establishing the Joint Feasibility Study Group is to provide an opportunity for more in-depth and systematic examination of potential FTA. The Joint Feasibility Study Group shall discuss the possible scope of a potential FTA and analyse the sensitiveness of specific sectors, while recommending possible ways to address them. Both the ministers expressed the hope that the Joint Feasibility Study Group shall issue a report with the relevant analysis and recommendations within a period of six months.

India is having positive trade balance with Georgia. In 2015-2016 the total export from India to Georgia was US$ 82.57 million and import from Georgia was US$ 24.47 million.During the period April -February 2016-2017 India’s export to Georgia stood at about US$ 83 million as compared to US$ 73 million April-February 2015-2016 and import from Georgia stood at US$ 28 million as compared to US$ 24 million in April-February, 2015-2016.

Both the countries expressed their confidence that the Joint Feasibility Study will further contribute to the mutually beneficial cooperation of the partners and bring it to a new level.

UK and US Share Similar Mindset? How?

UK and US share a similar mindset when it comes to horizontal drilling for shale energy, say Cardiff University researchers and colleagues. Though an entire ocean separates the UK from the US, when the issue of fracking arises, the great divide — philosophically speaking — narrows considerably.

Concerns about short-term and long-term impacts of horizontal drilling for shale energy are prevalent in both countries. According to a new study by Cardiff University researchers and colleagues, key issues include the risk of water contamination as well as preferences for renewable energy sources over fossil fuels to meet national energy needs.

“This — and other research we have conducted — shows that the public in both countries clearly want a move toward a cleaner, more sustainable energy system in the future,” said corresponding author Nick Pidgeon, a professor of environmental psychology at Cardiff University. “The results confirm that shale development is not compatible with that vision.”

Shale gas and oil production in the US has increased rapidly in the past decade, and the UK government is interested in potential development. Understanding public views is a crucial first step in creating more informed energy debates and promoting better decision-making.

The researchers held a series of carefully formatted, daylong deliberation workshops with diverse members of the public in four cities: London, Cardiff, Los Angeles and Santa Barbara. These in-depth discussions enabled the investigators to look beyond existing evidence on public views about hydraulic fracturing based primarily in already impacted areas.

“The results showed that shale development was widely seen as a short-term fix leading to an unwanted dependency on finite fossil fuels at the expense of renewables development,” said co-author Merryn Thomas, a research associate at Cardiff University. “Participants in both countries noted that the majority of proposed benefits, such as specialized jobs of limited duration, would be relatively short-term, while the risks, such as environmental degradation, would almost certainly be longer.”

The study found that those surveyed viewed potential impacts as inequitably distributed, arguing that the economic and employment benefits attributed to shale development were not unique and would apply equally to significant investment and scaling-up of renewable technologies.

Different concerns in the two countries reflected different models of governance of extractive industries. In the US, some participants wanted more standardized federal guidelines and long-term accountability. Conversely, in the UK, where regulation is predominantly at the national level, there were calls for more local control. Regardless of location, participants expressed deep-seated distrust of government and institutions.

In California, past and current experiences with the regional oil industry minimized concern for some about future shale development. However, for others, personal experiences of water shortages and earthquakes amplified this sense of risk. In the UK, where onshore oil and gas extraction is less common, participants drew on tangential experiences of coal and heavy industries when making sense of what shale development might mean for them in the future.

“This study found surprisingly high levels of environmental and societal concern about hydraulic fracturing in areas with no direct experience with the technology,” said co-author Barbara Harthorn, director of the CNS and a professor in the Department of Anthropology at UCSB. “This method provides strong evidence that diverse members of the public are able to weigh in thoughtfully and critically about local and collective energy system decisions and their impacts.”

The main funding for this research was provided by the National Science Foundation with supplemental support from the European Union’s Horizon 2020 research and innovation program.

Drawing on more than a decade of research developed by Cardiff University and University of California Santa Barbara Center for Nanotechnology in Society (UCSB-CNS) in the US, this is the first qualitative, interdisciplinary, cross-national study of UK and US public perceptions of shale extraction. The results appear in the journal Nature Energy.

South Asia SASEC Program of ADB Expands with Myanmar Joining as 7th Member

South Asian Subregional Economic Cooperation (SASEC) program of Asian Development Bank (ADB) has expanded with the inclusion of Myanmar aas the 7th member in 2017.

Shaktikanta Das, India’s finance secretary said on the occasion that Myanmar is key to realizing greater connectivity and stronger trade and economic relations between the SASEC sub-region and the countries of East and Southeast Asia. Myanmar’s membership in SASEC can offer a host of opportunities for realizing synergies from economic cooperation in the sub-region, he noted.

SASEC member countries are focusing on connectivity initiatives including Myanmar as road corridors in Myanmar provide the key links between South Asia and Southeast Asia. Ports in Myanmar will provide additional gateways to the landlocked North Eastern region of India and even Bangladesh can explore the potential of economic energy in the sub-region.

SASEC’s energy connectivity and energy trade prospects will be enhanced with the inclusion of Myanmar, involving its substantial resources of hydropower and natural gas. Moreover, developmental impacts of economic corridor in the SASEC sub-region will be maximized by exploring potential synergies with corridors in Myanmar that are linked to those in other Southeast Asian countries.

Myanmar was accorded an observer status of SASEC in 2013 when ADB’s annual meeting was held in Noida, India. Myanmar has been participating in annual SASEC Nodal Officials’ meetings as an observer since 2014. It was invited by the participating countries of SASEC countries to become a full member in 2015.

The SASEC program was formed in 2001 in response to the request of the four countries of South Asia – Bangladesh, Bhutan, India and Nepal – from ADB to assist in facilitating economic cooperation among them as part of the South Asia Growth Quadrangle (SAGQ), formed in 1996.

As a project-based partnership, the SASEC program has been helping realize regional prosperity by enhancing cross-border connectivity, facilitating faster and more efficient trade and promoting cross-border power trade. Maldives and Sri Lanka joined SASEC in 2014, further expanding opportunities for enhancing economic linkages in the sub-region.

India Signs 7 MoUs, Malaysia PM Razak Meets PM, President

Malaysian Prime Minister Mohd. Najib Bin Tun Abdul Razak called on President of India Pranab Mukherjee at Rashtrapati Bhavan today, April 1, 2017, as part of his state visit, reciprocating PM Narendra Modi visit to Malaysia in November 2015.

Welcoming PM Razak, the President said relations between India and Malaysia are centuries old and is best ever so far. The two countries have taken their strategic partnership forward, particularly after the state visits at a time when India and Malaysia are celebrating the 60th anniversary of India-Malaysia diplomatic relations.

Malaysia would like to achieve a target of US $15 billion bilateral trade by 2020 with India and as part of it, both countries signed seven MoUs in New Delhi. “Infra has been an area of fruitful partnership between us but we can do much more,” said PM Modi. “We are also converging efforts aimed at food security that are linked to well being of our farmers.”

Malaysian PM also referred to defence and strategic ties saying, “Defence and strategic partnership will be very important for us to fight global terrorism,militancy,extremism,that includes fight against IS.”

Both leaders focused on issues, including terrorism, bilateral as well as commercial agreements.