Q. Consider the following pairs:

International agreement/ set-up Subject

  1. Alma-Ata Declaration – Healthcare of the people
  2. Hague Convention – Biological and Chemical Weapons
  3. Talanoa Dialogue – Global Climate Change
  4. Under2 Coalition – Child Rights

Which of the pairs given above is/are correctly matched?

a) 1 and 2 only
b) 4 only
c) 1 and 3 only
d) 2, 3 and 4 only

Answer: c) 1 and 3 only

Alma-Ata Declaration:
  • The Alma Ata Declaration was adopted at an international conference on primary health care held in Kazakhstan in 1978.
  • It was the first international declaration underscoring the importance of primary health care.
Hague Convention
  • The Hague Convention protects children and their families against the risks of illegal, irregular, premature, or ill-prepared adoptions abroad.
    • The Hague Convention is a multilateral treaty that came into existence on December 1, 1983.
    • The Convention applies to children under the age of 16.
Talanoa Dialogue
  • The Talanoa Dialogue is a process designed to help countries implement and enhance their nationally determined contributions by 2020.
    • The dialogue was mandated by the parties to the United Nations Framework Convention for Climate Change to take stock of the collective global efforts to reduce the emissions of greenhouse gases, in line with the goals of the Paris Agreement.
Under2 Coalition
  • The Under2 Coalition is a global community of state and regional governments committed to ambitious climate action in line with the Paris Agreement.
  • Signatories commit to keeping global temperature rises to well below 2°C with efforts to reach 1.5°C.

Q. Consider the following statements

  1. The value of Indo-Sri Lanka Trade has consistently increased in the last decade.
  2. “Textile and textile articles constitute an important item of trade between India and Bangladesh
  3. In the last five years, Nepal has been the largest trading partner of India in South Asia

Which of the statements given above is/are correct?

(a) 1 and 2 only
(b) 2 only
(c)  3 only
(d) 1 ,2, and 3

Answer: (b) 2 only

Notes:
  • The Indo-Srilanka trade reached its peak in 2013-14 in the last decade. 
  • Bangladesh is India’s largest trading partner in South Asia, followed by Nepal, Sri Lanka, Pakistan, Bhutan, Afghanistan, and the Maldives.
  • Cotton is the largest export item to Bangladesh from India, accounting for a fifth of India’s supplies to Bangladesh, followed by mineral fuels, automobiles and capital goods.
  • India’s imports from Bangladesh jumped 22% to $1.2 billion. Garment and textile products make up for around 40% of the imports

Also Read: India-Sri Lanka Relations

Q. In which one of the following groups are all the four countries members of G20?

(a) Argentina, Mexico, South Africa, and Turkey.

(b) Australia, Canada, Malaysia, and New Zealand

(c) Brazil, Iran, Saudi Arabia, and Vietnam

(d) Indonesia, Japan, Singapore, and South Korea

Answer:  a) Argentina, Mexico, South Africa, and Turkey.

Notes:
  • The Group of Twenty (G20) comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom and United States) and the European Union.

Q. The term ‘West Taxes Intermediate’, sometimes found in news to a grade of

(a) Crude oil

(b) Bullion

(c) Rare earth elements

(d) Uranium

Answer:  (a) Crude oil

West Texas Intermediate (WTI):
  • West Texas Intermediate (WTI) is a light, sweet crude oil that serves as one of the main global oil benchmarks.
    • This grade is described as light crude oil because of its relatively low density, and sweet because of its low sulfur content.
  • It is sourced primarily from inland Texas and is one of the highest quality oils in the world, which is easy to refine.
  • WTI is the underlying commodity for the NYMEX’s oil futures contract.
  • WTI is often compared to Brent crude, which is an oil benchmark for two-thirds of the world’s oil contracts based on oil extracted in the North Sea.
Difference between Brent and WTI
  • Brent crude oil originates from oil fields in the North Sea between the Shetland Islands and Norway, while West Texas Intermediate (WTI) is sourced from US oil fields, primarily in Texas, Louisiana, and North Dakota.
  • WTI with a lower sulphur content (0.24%) than Brent (0.37%), is considered “sweeter”.
  • Both oils are relatively light, but Brent has a slightly higher API gravity, making WTI the lighter of the two.
    • American Petroleum Institute (API) gravity is an indicator of the density of crude oil or refined products.
  • Brent crude price is the international benchmark price used by the OPEC while WTI crude price is a benchmark for US oil prices.
    • Since India imports primarily from OPEC countries, Brent is the benchmark for oil prices in India.
  • Cost of shipping for Brent crude is typically lower, since it is produced near the sea and it can be put on ships immediately. Shipping of WTI is priced higher since it is produced in landlocked areas like Cushing, Oklahoma where the storage facilities are limited.