Assignment No:1: Intetnational Trade

INTETNATIONAL TRADE
ASSIGNMENT NO:1
1. What was the purpose of the European Union?

Ans:
Objectives
The European Union’s main objective is to promote peace,
follow the EU’s values and improve the wellbeing of nations.
The European Parliament and other institutions see to it that
these objectives are achieved.
The main objectives are:
A common European area without borders
The objective is to create a free and safe Europe with no

internal borders. The citizens living in the area enjoy the rights
granted by the European Union.
• Internal market
The objective is to ensure smooth and efficient trade within
Europe. Competition between companies is free and fair.in
• Stable and sustainable development
The objective is to ensure Europe’s sustainable and steady
development. It means balanced economic growth and stable
prices. The European Union seeks to create a competitive
market economy which takes into account people’s wellbeing
and social needs. An important issue is environmental
protection. Efforts are made to protect the environment and
repair any damage made.
• Scientific and technological development

The European Union supports the advancement of science and
technology and invests in education. Another objective is to
achieve a skilled workforce and a high standard of
technological production.
• Prevention of social exclusion

The European Union works hard to prevent social exclusion. It
seeks to prevent people from drifting outside the labour
market and society. Efforts are made to eliminate poverty. The
Union works for equality. Minority rights are protected. Social
security is improved. Men and women must be treated equally.
Children’s rights must be protected and children given a happy
childhood. Old people must be looked after and respected.
• Solidarity
Solidarity between countries and people is promoted in the
field of the economy, social equality and regions. The member
states must be loyal to one another. It means that states must
take responsibility for and be understanding of one another.
• Respect for languages and cultures

The European Union respects the languages and cultures of the
individual countries. National cultures and the common
European culture are cherished and developed.
• Common foreign and security policy
The European Union seeks to promote peace not only in Europe
but also elsewhere in the world. It seeks to ensure that peace
is maintained in Europe and that people have security. With the
common foreign policy, the European Union wants to make
sure that the resources of the planet are used sensibly and that
the environment is not destroyed. The European Union also
wishes to respect other countries and nations. It works for free
and fair trade and tries to eliminate poverty. Human rights are
important all over the world. The European Union follows the
Charter of the United Nations and underlines the importance of
common international rules.
• The European Union’s general objectives are recorded in

the Treaties of the European
2. What is the role of India in SAARC on

International Pandemic?
Ans:
That an extraordinary situation warrants an extraordinary
response is not merely a cliché. COVID-19 is the living
example of this dictum. Every country is fighting its own
battle to save the lives of its respective citizens, but the
global pandemic cannot be disentangled from the global
interdependence that has developed over the past decades.
If the world benefits from the movement of people, ideas,

capital and technology, then it is imperative that we fight
back against this disease with vigor. The danger of infection
prevents us from making physical contact, but technology
has empowered us with virtual and social networks.
SAARC (South Asia Association for Regional Cooperation)
countries – Afghanistan, Bangladesh, Bhutan, India, the
Maldives, Nepal, Pakistan, and Sri Lanka – came together on
March 15, two days after Indian Prime Minister Narendra
Modi proposed a Virtual SAARC Emergency meeting on
COVID-19 to discuss and coordinate a regional response to
the deadly outbreak.
SAARC, one of the most densely populated regions in the

world, home to one fifth of humanity, has so far registered
cases on the scale of three figures. Countries in the region
face significant challenges in terms of access to
overstretched healthcare facilities. Open borders in several
sectors allow movement of people for pilgrimage,
employment and fraternal ties, and closing the border is not
an option because people, especially in border areas, would
face difficulty obtaining basic good.
Being the largest member of SAARC, India has time and

again emerged as the first responder in times of crisis, and
the COVID-19 pandemic is not an exception. For dealing with
this crisis, India’s guiding mantra has been “collaboration,
not confusion; preparation, not panic”.
According to Prime Minister Modi, policymakers should “not

underestimate the problem but also avoid knee-jerk
reactions”. In this spirit, India has proposed a COVID-19
Emergency Fund (CEF) to meet the cost of immediate action
and has offered an initial contribution of US$10 million. A
rapid response team of doctors and specialists in India,
along with testing kits and other equipment, are on standby
to assist neighboring countries.
On 15 March 2020, coinciding with the International Consumer
Rights Day the emergency fund was proposed by Indian Prime
Minister Narendra Modi during a video conference
of SAARC heads of government from New Delhi as a result of
the global coronavirus pandemic.[1] The purpose of this fund is
to tackle and mitigate the risks associated with the coronavirus
pandemic in the South Asian region. Other member nations
welcomed the decision of Modi for the proposal of coronavirus
emergency fund.[2]
India announced US$10 million as its initial contribution to
support the initiative and Modi stated that the contributions for
the fund from member countries would be voluntary.[3] As of
23 March 2020, the Emergency fund had accumulated sum of
US$18.8 million with the pool of contributions from seven
member countries except Pakistan.[4] Pakistan was sought to
have gone for the consent with China over the SAARC fund.[5]
Bangladesh announced it would contribute US$1.5
million, Nepal and Afghanistan each announced that they would
voluntarily contribute US$1 million.[6] On 23 March, Sri
Lanka announced it would contribute US$5 million which was
the second most highest contribution from a member country
besides India.[7] Maldives announced it would contribute
US$200, 000 while Bhutanannounced it would contribute
US$100, 000.[8][9]

Assignment No:1: Intetnational Trade

Uploaded by

Copyright:

Available Formats

Assignment No:1: Intetnational Trade

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Assignment No:1: Intetnational Trade

Uploaded by

Copyright:

Available Formats

INTETNATIONAL TRADE

1. What was the purpose of the European Union?

A common European area without borders

The objective is to create a free and safe Europe with no

• Scientific and technological development

• Prevention of social exclusion

• Respect for languages and cultures

• The European Union’s general objectives are recorded in

2. What is the role of India in SAARC on

If the world benefits from the movement of people, ideas,

SAARC, one of the most densely populated regions in the

Being the largest member of SAARC, India has time and

According to Prime Minister Modi, policymakers should “not

You might also like

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.