Question:

Consider the following statements about “Kimberley Process Certification Scheme” (KPCS)?

1. India is the founding member of KPCS and will chair the Kimberley Process 2019.

2. It is an International Certification Scheme that regulates the trade of “Sweet Crude”.

3. KPCS came into effect by the United Nation General Assembly Resolution.

Choose the correct answer from the code given below

A. 1 only
B. 3 only
C.1, 2 and 3
D. 1 and 3 only

Answer: D

Explanation: KPCS came into effect in 2003 by the United Nation General Assembly Resolution. India is its founding member and is actively involved in KP activities to ensure that almost 99 per cent of the diamond trade in the world is conflict free.

What KPCS is all about?
KPCS aims to prevent the flow of conflict diamonds/ blood diamonds, while helping to protect legitimate trade in rough diamonds. African countries are rich in diamonds and other jewel stones and the rebel groups used to topple the legitimate Government by the use of money power which they used to get by selling of diamonds. So KPCS makes it binding on the party to have legitimate trade only (i.e. Diamond shall be marked KP Certified) in order to defeat those rebels.

Purpose of the Question:
India has been selected as the Chair of the Ad Hoc Committee on Review & Reforms to look into various issues pertaining to the Kimberley Process Certification Scheme from January next 2019.

Source: The Hindu

Question :

Consider the following statements about “World Custom Organization (WCO)”??

1. It is a specialized body working under the guidance & superintendence of World Bank.

2. WCO administers the technical aspects of the World Trade Organization (WTO) Agreements on Customs Valuation and Rules of Origin.

3. WCO Secretariat is at Geneva & is headed by Secretary General who is having 3 years term.

Choose the correct option from the code given below:

A. 1 only

B. 2 only

C. 1, 2 & 3

D. 2 & 3 only

Answer : B

Explanation: World Customs Organization (WCO) is an intergovernmental organization headquartered in Brussels, Belgium. So, it is not an organization working under World Bank.

Aim of WCO
It works for combating counterfeiting in support of Intellectual Property Rights & administers the technical aspects of the World Trade Organization (WTO) Agreements on Customs Valuation and Rules of Origin.
WCO Secretariat is at Brussels & is headed by Secretary General who is having 5 years term. So, statement 3 is wrong.

Purpose of the Question:
The 80th Session of the Policy Commission Meeting of the World Customs Organization (WCO) was held in Mumbai. Students shall be aware with the importance & features of this organization.