Leaders of developing countries are creating regional trade agreements with a unique flavor. Photo Credit: Flickr

The leaders of three major growing economies of the Global South - South Africa, Brazil and India - are meeting in Pretoria this week to promote trade and cooperation across three continents.

The second annual India-Brazil-South Africa (IBSA) summit will discuss ways to increase trilateral trade between the three countries from 7 billion USD to 10 billion USD a year.

The leaders meet on Wednesday. Their talks will be preceded today and tomorrow by academic, business and science and technology seminars.

According to a media briefing by the head the Asia and Middle East section of South Africa's foreign ministry, Ambassador Jerry Matjila, issues to be discussed include how to deal with gas-to-fuel and coal-to-fuel technologies, and setting up trilateral companies or joint ventures such as bringing airlines together to improve trade.

He said a forum for members of parliament of the three countries and a women's forum - which would address gender issues and the inclusion of women in economic life - would also be held.

Other issues that the leaders will deal with are:

• The reform of the United Nations;

• The stalled Doha Round of talks conducted by the World Trade Organisation;

• Poverty and under-development; and

• Disarmament and nuclear non-proliferation.

Matjila said it was agreed before the summit that the IBSA countries co-ordinate their skills bases to develop their economies.

Matjila said it was agreed before the summit that the IBSA countries co-ordinate their skills bases to develop their economies. It was also suggested that systems, regulations and frameworks be put in place to facilitate trade amongst the three countries.

At the first summit in Brasilia last year, five agreements were signed, one of which covered bio-fuels. Another dealt with aviation and maritime co-operation between India and Brazil, creating opportunities around their harbours. Jet Airways, an Indian private airline, will soon be flying to South Africa.

This year, said Matjila, "There are about six agreements at which we are looking… [on] public administration, higher education, health and medicines, social development, cultural co-operation, wind energy and a mutual assistance agreement on customs matters."

The heads of state will also discuss easier ways for goods to be transported from India to Latin America.

About 100 business people from India, 60 from Brazil and 100 from South Africa are expected to attend the summit, he said. "IBSA is about business - about unlocking the potential of the South, about creating jobs".

The IBSA countries have established the IBSA Fund to help the most disadvantaged of developing countries. Each of the three countries will contribute 1 million USD towards the fund each year. Guinea Bissau is currently being helped through the IBSA Fund.

"IBSA is about business - about unlocking the potential of the South, about creating jobs".

At the end of the summit a declaration focusing on the Millennium Development Goals will be issued.

The IBSA Dialogue Forum was launched in 2006 through the adoption of the 'Brasilia Declaration'. According to the website of the India-Brazil-South Africa (IBSA) Trilateral, the objectives of the forum are to promote:

• South-South dialogue, co-operation and common positions of international importance;

• Trade and investment opportunities between the three regions of which the IBSA countries form part;

• International poverty alleviation and social development;

• A trilateral exchange of information, international best practices, technologies and skills, as well as to complement each other's competitive strengths into collective synergies; and

• Co-operation in a broad range of areas, such as agriculture, climate change, culture, defence, education, energy, health, information society, science and technology, social development, trade and investment, tourism and transport.

India will host the third IBSA summit next year.




Contributed by Faatimah Hendricks, writer for allAfrica. Reprinted with permission from allAfrica.com.

To read another Global Envision article about regional cooperation, see South-South Cooperation Defies the North.



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