Important International Current Affairs from 2nd Week of July 2024

Important International Current Affairs from 2nd Week of July 2024

1. Romania, Bulgaria, and Greece Sign Strategic Deal On July 11, 2024, Romania, Bulgaria, and Greece signed a significant strategic agreement. This pact aims to facilitate the rapid movement of troops and weapons across their borders, enhancing their defense capabilities as NATO members​​.

2. IMF and Pakistan Agree on $7 Billion Loan Program The International Monetary Fund (IMF) and Pakistan reached an agreement for a $7 billion loan under the Extended Fund Facility on July 12, 2024. This program is designed to support Pakistan's economic stability and growth over the next 37 months​​.

3. India-Thailand Maitree Exercise 2024 The joint military exercise "Maitree 2024" between the Indian Army and the Royal Thai Army began on July 1, 2024, at Fort Vachiraprakan in Thailand. This two-week exercise, concluding on July 15, 2024, aims to strengthen military cooperation and enhance interoperability between the two forces​​.

4. Global India AI Summit 2024 in New Delhi The Global IndiaAI Summit 2024 commenced in New Delhi, focusing on promoting responsible AI development and adoption. Hosted by the Ministry of Electronics and Information Technology, the event aims to position India as a leader in AI innovation and includes discussions on compute capacity, datasets platform, and skill development​​.

5. India and Russia Aim for $100 Billion Trade India and Russia have set an ambitious goal to boost bilateral trade to $100 billion by 2030. This objective includes enhancing collaboration in energy, trade, manufacturing, and fertilizers, with discussions aimed at reducing non-tariff barriers and exploring a free trade area between India and the Eurasian Economic Union​​.

6. Gagan Narang Appointed Chef-De-Mission for Paris Olympics 2024 Four-time Olympian and 2012 bronze medalist Gagan Narang has been appointed as India’s Chef-De-Mission for the 2024 Paris Olympics. This follows the resignation of Mary Kom due to health issues​.

7. PV Sindhu and Sharath Kamal Named Flag Bearers for Paris Olympics The Indian Olympic Association (IOA) announced that badminton star PV Sindhu and veteran table tennis player Sharath Kamal will be the flag bearers for India at the 2024 Paris Olympics. This decision continues the tradition of having two flag bearers set at the Tokyo 2020 Olympics​.

8. UNESCO Expands World Network of Biosphere Reserves UNESCO has expanded its World Network of Biosphere Reserves by adding new sites across the globe. This initiative aims to promote sustainable development and biodiversity conservation while fostering community involvement in environmental stewardship​​.

9. Bangladesh Joins Colombo Security Conclave Bangladesh has become the fifth member of the Colombo Security Conclave (CSC), which focuses on enhancing maritime security, countering terrorism, and ensuring regional stability. The CSC now includes India, Sri Lanka, Maldives, Mauritius, and Bangladesh​​.

10. Rachel Reeves Appointed as Britain's First Woman Finance Chief Rachel Reeves has made history by becoming the first woman finance chief in Britain. This significant appointment marks a milestone in the UK's political landscape and showcases the increasing representation of women in high-ranking governmental positions​​.

11. Vietnam Crowned Most Affordable Country for Expats in 2024 Vietnam has been recognized as the most affordable country for expatriates in 2024, according to a recent study. This recognition highlights Vietnam’s growing appeal due to its economical living costs and vibrant cultural experiences​​.

12. Malabar Naval Exercise 2024 The Malabar naval exercise involving the Quad nations—India, the United States, Japan, and Australia—is set to take place amid rising tensions with China in the Indo-Pacific region. This exercise underscores the strategic cooperation among the Quad countries to ensure regional security​​.