[Prelims Spotlight] Ashgabat Agreement, G20

As a part of revision for Prelims 2018, Here’s a Factoid to brush up your concepts

Name : Ashgabat Agreement

Brief Intro : 1.Ashgabat Agreement, is an international transport and transit corridor facilitating transportation of goods between Central Asia and the Persian Gulf. 2.The transit agreement provides for a transit corridor across Central Asia and the Middle East through the continuous landmass between Kazakhstan, Uzbekistan, Turkmenistan and Iran before reaching the Persian Gulf and into Oman.

Objective : The objective of this agreement is to enhance connectivity within Eurasian region and synchronize it with other transport corridors within that region including the International North–South Transport Corridor (INSTC).

Type : Declaration

Category : Connectivity

Year : 2011

Importance (wr. Prelims) : High

Place : Ashgabat

Name : G-20

Brief Intro : 1.It was started in 1999 as a meeting of Finance Ministers and Central Bank Governors in the aftermath of the Southeast Asian (Tiger economies) financial crisis. 2.The Group of Twenty (G20) is the premier forum for its members’ international economic cooperation and decision-making. It is deliberating forum for the governments and central bank governors from 20 major economies on economic issues and other important development challenges. 3.In 2008, the first G20 Leaders’ Summit was held in Washington DC, US. The group had played a key role in responding to the global financial crisis. It comprises total 19 countries plus the European Union (EU), representing 85% of global GDP, 80% of international trade, 65% of world’s population. Its members include Australia, Argentina, Brazil, Canada, China, India, France, Germany, Indonesia, Italy, Japan, South Korea, Mexico, Saudi Arabia, Russia, Turkey, South Africa, UK, US and EU. 4.The 2016 summit was held in Hangzhou China.

Objective : It was established for studying, reviewing, and promoting high-level discussion of policy issues pertaining to the promotion of international financial stability.

Type : Summit/ Conference

Category : Economy

Year : 2008

Importance (wr. Prelims) : High