FAS Weekly News Update! 11th December 2023

This week we are covering the Universal Declaration of Human Rights, fishing disagreements between Russia & the Faroe Islands and bilateral agreements between Mexico and the US.

The United Nations celebrates the 75th Anniversary of The Universal Declaration of Human Rights

Azaria Mali

On December 10th, 1948, the United Nations General Assembly signed the Universal Declaration of Human Rights (UDHR). From 1950, this day was named Human Rights Day, an annual celebration for all member states to recognise human rights efforts and commemorate individuals through the five-yearly United Nations Prize in the Field of Human Rights and Nobel Peace Prize.

The declaration is not a binding document, like many of United Nations agreements, however it has greatly contributed to the international standard of human rights and inspired human rights resolutions, rulings and intervention justifications. The UDHR is the most translated document in the world (except for the Bible) with over 500 translations, meaning it is an accessible document for the championing of “universal, indivisible and inalienable rights recognizing the equal dignity and worth of everyone”. 

To commemorate the Human Rights 75, UN Human Rights and the Government of Switzerland will host a high level event in Geneva from 11-12 December 2023. The event will cover many themes and include recommendations, advocacy opportunities and talks on a range of issues relating to the future of human rights. Attendees will include member states, human rights activists, local governments, parliamentary representatives, civil organisations and artists that will perform in a human rights concert. 

United Nations Secretary General António Guterres stated “The Universal Declaration shows the way to common values and approaches that can help resolve tensions and create the security and stability our world craves."

As states meet to discuss the next decades of the UDHR, it’s important for world leaders to consider how the future will impact this key document for the United Nations.

Fishing agreement between the Faroe Islands and Russia becomes subject to international attention

Andreas Wittscheiben

The Faroe Islands and Russia have agreed on terms for the continuation of a reciprocal agreement in the fishing industry. This fishing agreement, which has recently received much more international attention than previously, has existed since 1977.

On the international stage, both Ukraine and the United Kingdom have called for the Faroe Islands to end the fishing agreements with Russia. However, the Faroe Islands have announced that they intend to continue their cooperation with Russia. The United Kingdom’s calls for ending the agreement have been replaced by seeking to influence the terms of the agreement. Specifically, the UK’s pressure on the Faroe Islands mean that the terms of the agreement have been altered, as it will no longer be possible for Russian fishing vessels to operate in the international waters between the Faroe Island and the UK. This limit on Russian fishing rights granted by the Faroe Islands has been requested by the UK since the beginning of the Russo-Ukrainian in 2022.

 Denmark is another country which has been invested in the questions regarding this agreement between the Faroe Islands and Russia. While some Danish politicians have expressed their dissatisfaction over the agreement, the Danish Foreign Minister Lars Lykke Rasmussen has maintained that the Faroe Islands make their own decisions regarding the fishing industry. 

Overall, the question of fishing rights has directed a significant amount of international attention towards the Faroe Islands.

US and Mexico sign agreement to screen foreign capital investments

Armaan Haji

On Wednesday 6th, the United States and Mexico reached an agreement to collaborate on enhancing investment screening to mitigate national security risks. The signing took place between U.S. Treasury Secretary Janet Yellen and Mexico’s Finance Minister Rogelio Ramirez de la O during Yellen’s three day visit to Mexico City. 

The initiative is focused on assisting Mexico in establishing a screening entity similar to the U.S. Treasury's Committee on Foreign Investment in the United States (CFIUS), which evaluates acquisitions of American companies by foreign entities and other inbound investments. The signing occurs at the backdrop of China’s increasing investments in Mexican companies in recent years, becoming the fastest-growing source of foreign investment in Mexico. It has been noted that the US-Mexico agreement could be displayed as a move by the US to prevent Chinese acquisitions of sensitive American technology through its other trading partners. 

However, according to Yellen, the focus on discussions with Mexico goes beyond China and emphasises the general importance of addressing national security concerns in foreign investments. The new agreement specifically tackles national security risks associated with certain foreign investments, particularly in critical technologies, infrastructure, and sensitive data.

For Mexico, the agreement presents opportunities to negotiate reduced remittance costs, a significant source of income for the country. Ramirez de la O highlighted that by integrating cross-border payment systems, both countries can benefit by lowering the costs of remittances, which are funds sent by foreign workers back to their home country.