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Home > News > Report

We have to take bold decisions: PM

Syed Firdaus Ashraf in Brazil | September 13, 2006 22:27 IST

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The first-ever summit of the India-Brazil-South Africa Dialogue Forum began on Tuesday in Brazil's capital Brasilia with leaders of the three countries stressing upon the need to empower millions of people living in Asia, Africa and Latin America.

Prime Minister Manmohan Singh, Luiz Inacio Lula da Silva, President of Brazil, and President Thabo Mbeki of South America discussed issues ranging from technological cooperation to improving air linkages between the three nations.

Addressing delegates, Dr Singh said: "IBSA needs to pursue with determination the target of $10 billion in intra-IBSA trade that was set in New Delhi in June 2003."

"It was just three years ago that our three democracies decided to come together, linking three great continents. The success of our experiment will empower millions of people in Asia, Africa and Latin America," he added.

Stressing upon the need to take bold decisions, the prime minister said: "Trade and tourism ties between the three nations have not yet reached its full potential. We have to take bold decisions to make things work."

"South Africa has a coal gasification technology and a well developed synthetic industry while Brazil is a world leader in use of Ethanol. India, on the other hand, has the expertise in wind and solar energy. IBSA can effectively utilize our respective competitive strengths to come up with alternative technologies," Dr Singh observed.

South African President Meki said: "IBSA can change the lives of our people for the better and erode poverty."

"And going by the number of delegates attending the meeting, it can be said that the initiative has been a success," he added.

India and Brazil had on Tuesday signed nine agreements ranging from scientific and technological cooperation to enhancing air services between the two nations. A memorandum of understanding between Brazilian company Petrobras and ONGC-OVL was also inked.

As part of the process of stepping up economic ties, ONGC Videsh acquired a 15% stake by investing $410 million in an offshore block in south-east Brazil in April. GAIL and Petrobras signed a cooperation and confidentiality agreement on June 21.

The next IBSA summit is proposed to be held at South Africa.

Meanwhile, Dr Singh will leave for Cuba on Thursday to attend the Non Aligned Movement summit.





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Number of User Comments: 3




Sub: Bold decisions !

"The IBSA can change the lives of our people for the better and erode poverty."


Posted by Dr. Cajetan Coelho





Sub: Error in the article

There is an error in the article: "Prime Minister Manmohan Singh, Luiz Inacio Lula da Silva, President of Brazil, and President Thabo Mbeki of South ...


Posted by Sudip Chowdhury





Sub: Have to ?

Let's go ahead and do it , rather than planning. Head of State can do it , caz he has the most power in his ...


Posted by Tapash




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