- What is IOR-ARC?
- Members of Indian Ocean Rim?
- Why IOA-ARC is important?
- Gurgaon Communiqué /Declaration (2012)
- 6- Priority areas
- What is blue economy?
- Mock questions
What is IOR-ARC?
- Indian Ocean Rim Association for Regional Cooperation
- Established in 1997
Importance of Indian Ocean rim?
- Indian Ocean is vital for the transportation of oil and conduct of other forms of global trade.
- >97 per cent of India’s international trade by volume passes through Indian Ocean.
- Indian Ocean rim region = rich precious minerals, metals and other natural resources, marine resources and energy.
Members of Indian Ocean Rim association?
|20 full time Members||6 Dialogue partners|
- China is not a “member”, just dialogue partner. Although they’re interested in becoming full time member.
- Some books mention Ocean Rim got only 19 members=outdated information. Because Comoros was recently added as 20th member.
Why IOA-ARC is important?
- Because it was established in 1997. Therefore, 2012 marks 15th anniversary year.
- Whenever something/somebody’s birth/death anniversary is in ‘multiple’ of five, it is important for UPSC!
- Secondly, their 12th summit was held in Gurgaon, India in Nov.2012.
Gurgaon Communiqué /Declaration (2012)
- When a summit/conference is over, the official statement is issued that “we’ve agreed to do this, this and this…)
- Such press statement is called Communiqué.
- In Gurgaon summit, member nations agreed to work on following 6 priority areas
They also agreed that
- We’ll continue economic cooperation @regional level
- We’ll aim for sustained growth + balanced Development
- We’are adding Comoros added as 20th member
- We’are adding USA as our 6th dialogue partner
- We’ll hold next meeting in Australia in 2013.
What is blue economy?
- Blue Economy concept emerged at Rio+20 Conference.
- seeks to integrate ocean-environment-ecology issues into economic frameworks. Sustainable use of marine and coastal resources.
- Reducing over-fishing.
- Stop destructive fishing practices.
- Stop illegal, unreported and unregulated fishing.
- Protect coral reefs.
- Combat climate change.
- Combat ocean acidification.
- Littoral= relating to a coastal or shore region
- e.g. IOR-ARC is an organization of littoral countries in Indian ocean.
Q1. Which of the following is correct about Indian Ocean Rim association (IOA-ARC)?
- It has member-states from two continents only: Asia and Africa.
- 12th summit of IOA-ARC was held at New Delhi, India.
- Iran is not a member of Indian Ocean rim association.
- Only 3
- Only 1 and 2
- Onlly 1 and 3
- None of them.
Q2.find Wrong match
||Island nation in Pacific ocean|
||Between Madagascar and Mozambique|
Q3. Correct order of islands from North to South in the atlas
- Seychelles, Comoros, Madagascar
- Madagascar, Comoros, Seychelles
- Comoros, Seychelles, Madagascar
- None of above.
Q4. Which of the following is correct about Blue Economy?
- It is a term associated with Socialist countries, having features of both red (communist) and green (capitalist) economies.
- It is a term associated with Economic unions and track blocs such as EU, NAFTA etc.
- It is a term associated with protection and sustainable use of maritime resources.
- None of above.
- Indian Ocean Rim Association for Regional Cooperation (5 marks)
- Suggest measures to combat ocean acidification and coral reefs destruction. What are the measures initiated by Government in this regard?(10m)
- Discuss the 12th summit of Indian Ocean Rim association (12m).
@anitha…here is the difference between two swaps u asked
Interest swap is when one party exchanges it’s floating rate obligations with other party’s fixed rate obligation…now question is why would they do so…because floating rate believes rates will increase in short time while fixed rate party belives rate will decrease in long term…means both have an incentive to deal at same time…for one it is an incentive…for other is disincentive..now the difference
1.currency swap is an agrement to exchange principal interest and fixed interst rate from one currency with another while interest rate swap is defined with respect to one currency only that is the parties own currency
2.although both are long term hedging technique but currency swap deal also takes care of risk which gets created due to fluctuations in rates…while interest rate swap is an innocent by-stander like UPSC aspirants who don’t revise their notes:-P
3 types of currency swap
1.forward contract-only principal rates are swapped
2.back to back loans-combination of principal loan with interst rate swap
3.here only interest payment cash flow on loans are swapped called as cross currency swap…hope this helps…for saudi arabia and libor I will write soon…regards from a first timer in upsc rat race
sir what’s for facebook adress, if i wud have to knw any explanation for any thing , whr shud i contact
Thanks to everyone who cleared my doubts.
It will be highly helpful if there is a compilation of all important bills,acts,commitees,commissions,plans of GOI of 2012 with updated information about them.
Sit it is very interesting to read your articles.Very easy to understand.
Sir please explain about Nigeria conflict.Why french troops are there.why not others.
@corelos why are you disturbing others.
Hi Mrunal Sir,
Thanks for an another important article. Sir, can you please post an article on the various facets of Presidents’ power to grant pardon (of Article 72) in the context of UPSC because this issue is very much in news as, After the hanging of Ajmal kasab and now a 60 yr old man in karnataka challenged the rejection of his plea.
Can u enlighten us on how to read n comprehend the atlas and techniques to get along with.
What is the difference between the dialogue partner and full time member?
you give us a better guideline for the competition prospective.
good explanation sir…
The topics which u post are so good & helps in easy understanding(as given under each heading)…applaude for ur work!!!!!IT HELPS A LOT!!!
Can anybody suggest measures to combat ocean acudification
CONCISE EXPLANATION FOR THIS LOOPHOLE TOPIC. THANKS A LOT.
sir, what is weighted factor in fuel pricing??