The Hindu Business Line : India, Brazil, S. Africa to work beyond WTO issues

Mr Pant said that India was working towards a free trade pact with Brazil and South Africa in order to step up trade and investment through this trilateral co-operation, bringing synergies into fruition and taking advantages of complementarities and one another's core competence.

The Deputy Chairman, Planning Commission, Mr K. C. Pant, with the Minister in the Presidency covering Economic Development, South Africa, Mr Essop G. Pahad, and the Brazil Ambassador, Ms Vera Barrouin Machado, at a meeting to discuss issues including economic development and poverty alleviation in the back-drop of Brasilia Declaration in the Capital on Tuesday. --Ramesh sharma

New Delhi , Jan. 6

INDIA, Brazil and South Africa which formed an alliance among 21 developing countries pre-Cancun for presenting a united stand on agricultural negotiations today said that they would extend their co-operation and solidarity into other controversial WTO subjects such as Singapore issues of competition, transparency in government procurement, investment and trade facilitation.

Addressing a joint press conference here the Planning Commission Deputy Chairman, Mr K.C. Pant, Mr G. Pahad, Minister in the Presidency covering Economic Development, South Africa, and Brazil's Ambassador to India, Ms Vera Machado, after a review meeting of India, Brazil, South Africa (IBSA) initiative, recalled their foreign ministers meeting in June 2003 which provided for regular political consultations to exchange information on areas of potential trilateral co-operation on poverty alleviation and economic development.

They said that the Tripartite IBSA dialogue forum constituted a significant contribution to the South-South dialogue as the initiatives taken in Brasilia by these three like-minded countries representing vibrant democracies was hailed as a timely effort with the aim of examining themes on the global agenda and those of mutual interest.

Mr Pahad heaped praise on India's leadership role in welding developing countries together so as to wrest the best terms of trade for themselves in the international trading arena.

Later, talking to presspersons informally, Mr Pant remarked that India was working towards a free trade pact with Brazil and South Africa in order to step up trade and investment through this trilateral co-operation, bringing synergies into fruition and taking advantages of complementarities and one another's core competence.

He said the Brasilia Declaration has identified trilateral co-operation among them as an important tool for the promotion of social and economic development. He said that though each country belongs to one regional grouping or the other, the co-operation among the three-like minded countries drawn from different continents would help in heralding a new chapter for the welfare of the people in these countries.

Mr Pant also pointed out that India-SACU (Southern African Customs Union whose members include South Africa, Swaziland, Namibia, Lesotho, Botswana) Agreement is also likely to be signed soon to give a decisive push to India's quest for finding new partners for exchanging trade preferences, concession and enlarging co-operation.