Global affairs remained as happening this week like they always endure. India and the UAE touched the new height of their amicable bilateral relationship while the tensions escalated between North Korea and the US as a US soldier, who was supposed to be sent to the US from South Korea, crossed the border between South Korea and North Korea, and reached North Korea. There is nothing new to write for Russia-Ukraine war; same destruction prevails.
Strengthening of ties between India and UAE
PM Modi’s recent visit to Abu Dhabi took the bilateral relationship between India and UAE to the next level. Both the nations are already exploring the strategic areas to engage, and this visit proved fruitful in taking this understanding between the two nations to the next level of partnership. During this recent visit of Modi to the UAE, the Reserve Bank of India (RBI) and its the Central Bank of the UAE signed two significant memoranda of understanding (MoUs). One established a framework to promote local currencies of India and UAE for cross-border transactions, while the second established a system for interlinking payment systems between the two nations. This will not only boost the economies of the two nations, it will also encourage local currencies of developing nations at the global level. UAE is looking forward to diversify its economy and wish to reduce its dependency on its conventional oil and gas-based trade. Although its oil & gas sector remains extremely important for nations like India. UAE is trying to develop its footprint in IT services sector, financial services, wholesale and retail trade, and real estate, and India has emerged as its trusted partner. India-UAE total merchandise trade in the first nine months of the financial year 2021-22 made UAE India’s third largest trading partner. Also, many reputed Indian companies have set up their manufacturing units in the UAE while many have invested in UAE in the areas of tourism, hospitality, catering, healthcare, retail and education. UAE is India’s one of the focused nations for Free Trade Agreement (FTA). India has prioritised few nations including UAE to liberalize trade between two nations so that the two can sustain the growth momentum. On the other hand, UAE positions itself as a striking export market for Indian electronics, automobiles and other engineering products. Since both the nations represent their region significantly, this strengthening relationship will also help in developing common market and trading among their respective regions. This will also help in promoting regional and global security.
TENSIONS PEAK BETWEEN USA AND NORTH KOREA
Regional security of East Asia faced a tremor when a US soldier crossed the border between North and South Korea, and reached North Korea. This incident heightened already existing tensions between Pyongyang and White House. In a shocking incident this week, a US soldier, who had just finished his term in a South Korean jail, escaped and crossed into North Korea. The United Nations Command that operates the Joint Security Area of the Demilitarized Zone between North and South Korea, first confirmed this news. The soldier was to be sent to the US. When he was escorted to the airport in Incheon, near Seoul, to take a flight back to the US, he somehow escaped and managed to join a border tour group and crossed in to North Korea. So far it seems that he deliberately took this step to ditch the impending disciplinary action on him in the US. He has been detained by the North Korean forces though. His timing of border crossing put a question mark on the security of the entire region. North Korea and the US are already facing sour relations. North Korea is continuously testing powerful missiles with the capabilities to carry nuclear warheads. It launched a new solid-fuel intercontinental ballistic missile this week itself. On the other hand, the US has deployed a nuclear-powered submarine in South Korea for the first time. In such tense situation, this incident of border crossing escalated the tensions from regional security’s point of view. Considering the bitter relationship between North and South Korea, tussle between North Korea and the US, and the fact that China provides unconditional support to North Korea (we should not forget how Chinese forces fought the Korean war between 1050-53 from the North Korean side!), this incident could be used for propaganda and bargaining chip by North Korea.
NEW MOVES OF RUSSIA ON WAR WITH UKRAINE
Who has the bargaining chip to end the Russia-Ukraine war still remains a question. Despite serious debates and discussions from various international platforms, Russia-Ukraine war is still going on. No diplomatic talk, no propaganda, no bargaining could work so far in bringing this dreadful war to an end. Putin has pulled Russia out of an important wartime deal ‘Black Sea Grain Initiative’, which enabled Ukraine’s exports of grain through Black Sea to reach many nations facing the threat of hunger. Putin’s this step could prove detrimental in worsening Russia’s relations with all such nations. But without any second thought, Putin has unbridled intense drone and missile attacks in Southern Ukraine not only killing several people, but also damaging critical infrastructure including grain and oil terminals. Destruction could threaten an enemy for some time, but it cannot earn you glory at the end of the day. True victory, or for that matter power, lies in peace, and we can only hope the leaders like Putin and Zelenskyy realise this soon.
