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Pdf 2012 www jagranjosh com - Dainik Jagran Hindi News

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Current Affairs PDF June <strong>2012</strong> Page 21INDIA ALLOWED FOREIGN DIRECT INVESTMENT FROM PAKISTANIndia on 8 June <strong>2012</strong> announced to allow foreign direct investment from Pakistan. The move isaimed at strengthening the bilateral economic relations between the two countries. Thedecision will also facilitate the economic integration in the South Asian region.The Union Finance Ministry had received a proposal by the Department of Industrial Policy andPromotion (DIPP) seeking changes in Foreign Exchange Management Act (FEMA) to allow FDIfrom Pakistan. Under the present FDI policy, a Pakistani citizen or an entity incorporated inthere is not allowed to invest in India. The Government had earlier allowed investments fromBangladesh under the FIPB route. The bilateral trade between India and Pakistan for the year2010-11 stood at 2.7 billion dollar. With 2.32 billion dollar exports, India dominated the trade,which grew at a rate of 47 per cent and also approaching forward to occupy 1 per cent share ofIndian global exports.SHANGHAI COOPERATION ORGANISATION SUMMIT <strong>2012</strong> CONCLUDEDIN BEIJINGThe Shanghai Cooperation Organization (SCO) <strong>2012</strong> concluded in Beijing on 7 June <strong>2012</strong>, withmember states agreeing to further cooperation in a variety of fields. Chinese President Hu JinTao, Russian President Vladimir Putin, Kazakh President Nursultan Nazarbayev, Kyrgyz PresidentAlmazbek Atambayev, Tajik President Emomali Rahmon and Uzbek President Islam Karimov,Turkmenistan President Gurbanguly Berdymukhamedov and Afghan President Hamid Karzaiwer among the top leaders who attended the summit.Leaders and officials from the four SCO observercountries of Mongolia, Iran, Pakistan and Indiawere also present at the summit. Leaders acrossthe participating nations held a broader discussionover the issues like Afghanistan crisis and theIranian nuclear programme.The member states of the SCO adopted 10agreements on the concluding day of the summit.The agreement includes the Declaration on Building a Region with Lasting Peace and CommonProsperity, the Strategic Plan for the Medium-Term Development of the SCO, and the SCORegulations on Political and Diplomatic Measures and Mechanism of Response to EventsJeopardizing Regional Peace, Security and Stability. The SCO also decided to grant Afghanistanobserver status and accept Turkey as a dialogue partner.Chinese President Hu Jintao offered a 10 billion U.S. dollars loan to the SCO which will be usedbe used to promote the development of SCO members. The SCO, an intergovernmental mutualsecurity organization, was founded in Shanghai on 15 June 2001. The group has six full timemembers at present namely China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan.The Central Asian nation Kyrgyzstan will host the 2013 summit of SCO.<strong>www</strong>.<strong>jagranjosh</strong>.<strong>com</strong>Page21Current Affairs PDF June <strong>2012</strong>

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