INDIA & THE WORLD BILATERAL AFFAIRS DECEMBER 2009

INDIA & THE WORLD BILATERAL AFFAIRS DECEMBER 2009

• 12th Ministerial meet of Bay of Bengal Initiative for Multi Sectoral Technical and Economic Cooperation (BIMSTEC) nations was held in Nay Pyi Taw, the capital city of Myanmar. The External Affairs Ministers of the member countries, India, Bangladesh, Myanmar, Sri Lanka, Bhutan, Thailand and Nepal participated in this meet.
  
• India and Russia signed a path-breaking broad-based agreement in civil nuclear field that will ensure transfer of technology and uninterrupted uranium fuel supplies to its nuclear reactors and inked three pacts in the defence sector. Russia could build up to 20 civil nuclear reactors in India under atomic agreement.
  
• India and Russia signed six agreements in Moscow. They agreed on a cultural exchange programme over the next two years and a credit line for facilitating bilateral trade. It was decided to triple the modest bilateral trade of $7 billion to $20 billion in the next five years. They signed three pacts in the military sphere.
  
• India extended a $425-million credit to Sri Lanka for three rail projects to be executed by IRCON International in the Northern Province.
  
• India and Bhutan to sign four MoUs for hydel power projects.The two sides will also sign a pact on setting up a super-specialty hospital on the lines of the All-India Institute of Medical Sciences. The MoUs will be signed on initiating detailed project reports (DPRs) for the Amochhu (620 MW), Kuvi-Gongi (1800 MW), Kholongchhu (486 MW) and Chamkarchu-I (670 MW) projects.
  
• The Defence Research and Development Organisation (DRDO) has been given assent by the government to take up an offer of French firm Snecma to ‘partner’ with the Gas Turbine Research Establishment (GTRE) for jointly developing the Kaveri aero engine.
  
• India, Japan had deepened economic ties to finish Comprehensive Economic Partnership Agreement (CEPA) by 2010.