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IBSA meet to talk trade on Oct 13

Economic Times, India

IBSA meet to talk trade on Oct 13

By Huma Siddiqui

8 October 2008

New Delhi/Business leaders from India, Brazil and South Africa are meeting here on October 13 to deliberate on trilateral trade co-operation and will also discuss issues related to tourism and student exchange programme.

During the two-day India, Brazil and South Africa (IBSA) summit from October 13, leaders are expected to evolve strategies to jointly meet challenges of energy and food security as well as global economic governance and development.

‘‘We expect a substantive outcome,’’ said an official here while talking about the third IBSA summit that will be attended by Prime Minister Manmohan Singh, Brazilian President Luiz Inacio Lula da Silva and South African President Kgalema Motlanthe.

Business delegations from these countries are likely to have interaction at the joint session organised by industry chambers Ficci and CII. The summit will also see the countries sign an agreement on tourism. The countries will commit to promoting co-operation among them in the area of tourism as well as provide better understanding, goodwill and friendship in various sectors.

The member countries will discuss an exchange programme for students and faculties between leading academic institutions in the tourism sector for tourism manpower development. They will also focus on global economic governance and development besides forging close cooperation in fight against terrorism and climate change. The challenge of energy and food security faced by the world is expected to be one of the key issues at the meet, sources said.

Leaders of the three countries will also review progress on the issue of the UN reforms, commitment to the goal of complete elimination of nuclear weapons and the WTO talks.

Recently, the three countries on the sidelines of the UN General assembly in New York had pledged to enhance their coordination on political and multilateral issues including reform of global governance institutions.

External affairs minister Pranab Mukherjee along with his counterparts-Nkosazana Dlamini Zuma, and Celso Amorim of Brazil, had also talked about improving the mechanism to streamline and fast-track disbursement of funds from the India-Brazil-South Africa Dialogue Forum (IBSADF) to the least developed nations.

They had discussions on global issues including those connected with the India-Brazil-South Africa Dialogue Forum (IBSADF).