The second heads-of-state summit involving India, Brazil and South Africa (IBSA) was held recently in Pretoria, Gauteng Province, and the representative of the countries decided to increase trade amongst them to more than US $15 billion by 2010.
Prime Minister Manmohan Singh of India, African President Thabo Mbeki and Brazilian President Lula da Silva, have taken collective efforts in motivating business and industry players.
They felt that business and industrial units of the concerned countries ought to be more ambitious in order to surpass the set target.
Deliberations at the summit also dealt with issues like poverty alleviation, strengthening of political relations, smooth trade and developments in view of World Trade Organization negotiations and the conclusion of the Doha Development Round.
The trio also agreed upon cultural cooperation, collaboration in health and medicine, and MOUs on social issues, higher education, tax administration and wind resources.
Get Free Weekly Market Insights Newsletter
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
