In Today’s News:
- India-U.S. BECA signing today.
OPEC is hopeful that any second wave of COVID-19 spread will not affect the energy demands.
(Note: Member countries of OPEC are very important for exam point of view)
Prelims GS – International Organisations
- The Organization of the Petroleum Exporting Countries (OPEC) was founded in Baghdad, Iraq, with the signing of an agreement in September 1960 by five countries namely the Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. They were to become the Founder Members of the Organization.
- Currently, 13 member countries are there in OPEC.
- OPEC Secretariat: Vienna
- India is not a member of OPEC.
- Recently Qatar exited from OPEC in 2019.
Member countries of OPEC:
- Equatorial Guinea
- Saudi Arabia
Click here to know more about OPEC.
2. India-U.S. BECA signing today
India and the United States of America will be signing the last foundational agreement BECA at 2+2 ministerial dialogue today as per the statement of the Defence Ministry of India.
Prelims GS – International Relations
India-U.S. Foundational Agreements:
- India has already signed three of four foundational agreements with the U.S. till date namely:
- Logistics Exchange Memorandum of Agreement(LEMOA)
- the Communications Compatibility and Security Agreement (COMCASA)
- the General Security of Military Information Agreement (GSOMIA)
- Even India has signed the extension to the GSOMIA, the Industrial Security Annex (ISA) at the last 2+2 dialogue.
- India has still not signed the Basic Exchange and Cooperation Agreement (BECA) for Geo-Spatial Cooperation with the US and today that is expected to be signed.
- With this, India will complete the signing of all the foundational agreements with the US.
Mains GS2 – International Relations
Significance of signing Foundational Agreements with the US:
- The COMCASA allows the US to transfer communication equipment to India which facilitates secure transmission of data and real-time information between the armed forces of the two countries.
- The LEMOA, on the other hand, allows Indian and US defense forces to use each other’s facilities and establish procedures of easier access to supplies and services required by them.
- BECA will help India to use US expertise on geospatial intelligence and to enhance military accuracy of automated hardware systems and weapons like cruise, ballistic missiles, and drones.
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