1. International Labour Organization (ILO)
Introduction
The International Labour Organization (ILO) is a specialized agency of the United Nations (UN) that deals with labour issues, employment rights, and social justice. It was established in 1919 as part of the Treaty of Versailles, making it one of the oldest international organizations still active today. The ILO promotes decent work, social protection, and equal opportunities for all workers worldwide.
Structure and Membership
The ILO has a unique tripartite structure, consisting of:
- Governments
- Employers
- Workers’ representatives
This structure ensures that labour policies are developed through a balanced dialogue.
- The main governing body is the International Labour Conference (ILC), which meets annually in Geneva.
- The Governing Body acts as the executive council.
- The International Labour Office, led by the Director-General, serves as the secretariat.
The ILO has 187 member states.
Objectives and Role
- Promoting decent work and productive employment.
- Eliminating forced and child labour.
- Ensuring freedom of association and the right to collective bargaining.
- Abolishing discrimination in employment and occupation.
- Improving working conditions and ensuring social security for all.
Key Functions
- Setting International Labour Standards: Through conventions and recommendations.
- Monitoring Compliance: Countries are required to report progress on conventions they have ratified.
- Providing Technical Assistance: Helps governments draft labour laws, train labour inspectors, and develop employment programs.
Global Significance
The ILO has played a crucial role in advancing social justice, protecting workers’ rights, and promoting fair globalization. Its influence extends to issues like gender equality, migration, and occupational safety.
2. IBSA Dialogue Forum (India-Brazil-South Africa)
Introduction
The IBSA Dialogue Forum is a trilateral partnership between India, Brazil, and South Africa, established in 2003 through the Brasilia Declaration. It represents three major democracies and emerging economies from Asia, South America, and Africa that share similar challenges of development, inequality, and social transformation.
Objectives
- Strengthen South-South Cooperation in trade, technology, and development.
- Promote democratic governance, multilateralism, and human rights.
- Coordinate positions in international forums such as the United Nations and WTO.
- Enhance people-to-people relations through cultural and educational exchanges.
Institutional Mechanism
- The IBSA Summit (Heads of State/Government meeting).
- Trilateral Ministerial Commissions on foreign affairs, trade, and defence.
- The IBSA Fund for Poverty and Hunger Alleviation, managed by the UNDP, supports development projects in other developing countries.
Achievements and Importance
- IBSA promotes equitable globalization and reforms of global institutions like the UN Security Council.
- It enhances economic cooperation, scientific research, and sustainable development initiatives.
- IBSA has supported humanitarian projects in Haiti, Palestine, and Burundi, showcasing solidarity among developing nations.
3. BRICS (Brazil, Russia, India, China, South Africa)
Introduction
BRICS is a coalition of five major emerging economies — Brazil, Russia, India, China, and South Africa — formally established in 2009 (South Africa joined in 2010). It represents nearly 42% of the world’s population and over 25% of global GDP.
Structure
- BRICS Summit: Annual meeting of leaders.
- Foreign Ministers’ and Finance Ministers’ meetings.
- BRICS Bank (New Development Bank) and the Contingent Reserve Arrangement (CRA) for financial stability.
- Think Tanks Council and Business Council for policy collaboration.
Objectives
- Promote economic growth, trade cooperation, and financial stability among member countries.
- Reform global governance structures like the IMF and World Bank to reflect modern realities.
- Foster innovation, infrastructure development, and sustainable growth.
- Enhance South-South Cooperation and reduce Western dominance in global finance.
Key Achievements
- Establishment of the New Development Bank (NDB) headquartered in Shanghai, to fund infrastructure and sustainable projects.
- The Contingent Reserve Arrangement (CRA) to help members during balance-of-payments crises.
- Increased cooperation in energy, agriculture, health, education, and digital economy.
Global Role
BRICS acts as a counterbalance to Western economic blocs like the G7. It supports a multipolar world order, ensuring developing nations have a stronger voice in international decision-making.
4. European Union (EU)
Introduction
The European Union (EU) is a political and economic union of 27 European countries that share common policies on trade, environment, justice, and foreign affairs. It evolved from the European Economic Community (EEC) established in 1957 by the Treaty of Rome.
Institutions
- European Council: Defines general policy direction.
- European Commission: Proposes legislation and ensures implementation.
- European Parliament: Represents EU citizens and passes laws.
- Court of Justice of the EU (CJEU): Ensures uniform interpretation of EU law.
- European Central Bank (ECB): Manages the euro and monetary policy.
Objectives
- Promote peace, unity, and stability across Europe.
- Establish a single market ensuring free movement of goods, services, capital, and people.
- Uphold democracy, human rights, and the rule of law.
- Encourage sustainable development and innovation.
- Maintain economic and monetary union (EMU) through the Eurozone.
Achievements
- Creation of the Single Market (1993).
- Establishment of the Euro currency (1999).
- Expansion to include Central and Eastern European countries.
- Common policies on environment, consumer protection, and digital transformation.
Global Role
The EU is a major global economic and political actor, influencing trade, climate policy, and global governance. It promotes multilateralism and plays a key role in humanitarian and development aid.
5. The Euro
Introduction
The Euro (€) is the official currency of 19 out of 27 EU member states, collectively known as the Eurozone. It was introduced for electronic transactions in 1999 and as physical currency in 2002.
Purpose and Goals
- To promote economic integration and price stability.
- To eliminate exchange rate fluctuations within the EU.
- To facilitate cross-border trade, investment, and mobility.
- To strengthen Europe’s role in the global economy.
Governance
The European Central Bank (ECB) manages monetary policy, maintaining inflation below but close to 2%. National central banks collaborate with the ECB under the European System of Central Banks (ESCB).
Impact
- The Euro has become the second most traded currency in the world after the U.S. dollar.
- It has promoted economic stability but also faces challenges such as debt crises and fiscal coordination issues (as seen in Greece and Italy).
6. Eurasian Economic Union (EAEU or EEU)
Introduction
The Eurasian Economic Union (EAEU) is a regional economic bloc established in 2015, comprising Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan. It seeks to integrate the economies of its member states through a single market.
Objectives
- Create a common economic space with free movement of goods, services, capital, and labour.
- Implement coordinated policies in energy, industry, agriculture, and transportation.
- Enhance economic competitiveness and regional stability.
- Develop harmonized regulations and promote trade with external partners.
Structure
- Supreme Eurasian Economic Council: Heads of state.
- Eurasian Economic Commission: Executive body that develops policies.
- Court of the EAEU: Ensures treaty compliance.
Achievements and Global Role
- Establishment of a Customs Union among member countries.
- Trade agreements with nations like Vietnam, Iran, and Serbia.
- Growing cooperation with China’s Belt and Road Initiative (BRI).
The EAEU aims to make Eurasia a key economic bridge between Europe and Asia.
7. Eurasian Development Bank (EDB)
Introduction
The Eurasian Development Bank (EDB), established in 2006, is a regional financial institution promoting economic growth and integration among member countries of the Eurasian region.
Members
The bank’s main members include Russia, Kazakhstan, Armenia, Belarus, Tajikistan, and Kyrgyzstan.
Objectives and Functions
- Finance infrastructure, energy, and industrial projects that benefit multiple members.
- Strengthen regional economic ties and integration within the EAEU.
- Support sustainable development, innovation, and technology transfer.
- Facilitate cross-border investments and reduce economic disparities.
Role in Regional Development
The EDB serves as the financial arm of Eurasian integration, providing low-interest loans, guarantees, and technical assistance for projects in transportation, agriculture, and digitalization. It promotes economic stability and energy security across Central Asia and Eastern Europe.
8. South Asian Association for Regional Cooperation (SAARC)
Introduction
The South Asian Association for Regional Cooperation (SAARC) was established in 1985 in Dhaka, Bangladesh, to promote regional integration among South Asian countries. Its members are India, Pakistan, Bangladesh, Sri Lanka, Nepal, Bhutan, Maldives, and Afghanistan.
Objectives
- Promote regional peace, stability, and cooperation.
- Accelerate economic growth and social development.
- Strengthen cultural and historical ties among South Asian nations.
- Address common challenges such as poverty, illiteracy, and terrorism.
Structure
- SAARC Summit: Held biennially among heads of state.
- Council of Ministers: Coordinates and formulates policies.
- Standing Committee and Technical Committees: Implement programs in agriculture, health, environment, and education.
- SAARC Secretariat (Kathmandu, Nepal): Acts as the administrative body.
Key Initiatives
- SAARC Development Fund (SDF) to finance social projects.
- SAFTA (South Asian Free Trade Area) to promote intra-regional trade.
- Regional Centres focusing on agriculture, disaster management, and energy.
Challenges
SAARC faces hurdles such as political tensions (especially India-Pakistan relations), trade barriers, and lack of implementation of agreements. Despite these, SAARC remains vital for regional cooperation and people-to-people contact.
Global Importance
SAARC symbolizes the collective aspiration of South Asian nations for unity, prosperity, and self-reliance. Its success could turn South Asia into one of the world’s most dynamic regions.
Conclusion
International and regional organizations such as the ILO, IBSA, BRICS, EU, EEU, and SAARC play vital roles in shaping the global political and economic order. They promote cooperation, social justice, sustainable development, and shared prosperity.
While some focus on economic integration (EU, BRICS, EAEU), others emphasize social welfare and labour standards (ILO) or regional solidarity (SAARC, IBSA). Together, they reflect humanity’s ongoing effort to create a fair, balanced, and interconnected world.
