Current Affairs - International

The Indo-Turkiye Friendship Association (ITFA) was launched in Hyderabad on October 16, 2024, with the goal of enhancing bilateral cooperation between India and Turkiye in various sectors, including economic, cultural, tourism, educational, and technological exchanges. Turkish Consul General Orhan Yalman Okan noted a significant rise in Indian tourism to Turkiye, with 3.5 lakh visitors in 2023, projecting this number to increase to 4 lakh soon. This initiative aims to further strengthen the relationship between the two nations.

Colombia has become the 17th country to sign an audio-visual co-production agreement with India, aiming to pool creative, technical, and financial resources for filmmaking. This agreement enables filmmakers and producers from both countries to collaborate on various aspects of filmmaking, such as production, post-production, and marketing. The pact is expected to deepen engagement between the critical sectors of the film industries of both countries, unfolding a new chapter of collaboration. The agreement was signed by Union Minister L. Murugan and Colombia's Vice Minister Jorge Enrique Rojas Rodriguez.

The 23rd SCO Heads of Government Meeting took place in Islamabad on October 16, 2024, focusing on trade and economic collaboration among SCO member states. This meeting brought together leaders from China, Russia, Iran, and Central Asian countries, with Pakistan's Prime Minister Shehbaz Sharif as chair. India's External Affairs Minister, S. Jaishankar, represented India, emphasizing the SCO's multilateral agenda. The SCO aims to enhance regional cooperation and stability, founded in 2001. By hosting this meeting, Islamabad played a significant role in promoting economic cooperation and regional stability among SCO member states.

The United States has announced the deployment of the advanced THAAD (Terminal High-Altitude Area Defense) missile defence system to Israel. This strategic decision aims to enhance Israel's defence capabilities, particularly in light of threats from Iran and other regional adversaries. THAAD is designed to intercept and destroy enemy missiles during their terminal phase, making it an essential asset for national security. This move highlights the US's strong commitment to Israel's defence amidst rising geopolitical tensions in the region, reinforcing collaborative efforts in military preparedness and security cooperation.

Abu Dhabi has been crowned the world's richest city due to its substantial sovereign wealth funds, estimated at $1.7 trillion. This significant wealth is primarily attributed to the discovery of oil in the 1950s, making Abu Dhabi one of the world's top energy producers. The city holds 95% of the UAE's oil reserves and 92% of its gas reserves, solidifying its position as a global financial powerhouse. This ranking is based on the city's impressive capital reserves, surpassing other major cities like Oslo, Beijing, Singapore, and Hong Kong.