Friday, March 11 2005 14:15 Hrs (IST) - World Time -

Durban: Noting that developing countries needed an equitable trading system, India, Brazil and South Africa vowed to strengthen their trade and investment links and work together to have greater impact on world affairs. "Developing countries need an equitable and transparent international trading system," External Affairs Minister K Natwar Singh said, at the tri-lateral Ministerial meeting of the India-Brazil-South Africa (IBSA) Commission in Cape Town yesterday (Mar10, 2005).

"We are happy that our three countries have played a leading role in shaping the World Trade Organisation (WTO) negotiations. This is only the beginning," he said.

"The more we speak together the more impact we will have on world affairs,'' said Brazil's Foreign Minister Celso Amorim.

South African Foreign Minister Nkosazana Dlamini-Zuma said that the three countries, with "unique geopolitical positions across three continents,'' would remain united ahead of trade negotiations in Hong Kong in December.

Soon after arriving in Cape Town yesterday, Natwar Singh reviewed bilateral ties in talks with Dlamini-Zuma, Indian Deputy High Comissioner to South Africa B.B. Harrison said today (Mar11, 2005).

"The two Ministers reviewed bilateral developments, following the visit of President Abdul Kalam to South Africa in September last year (2004)," she said.

"The two Ministers also reviewed extensively India's engagement with Africa and The New Partnership for Africa's Development (NEPAD). It would be recalled that India has announced its intention to make available $ 200 million in lines of credit for specific projects under NEPAD," Harrison said.

Singh also briefed the South African Minister regarding the India-Africa Project Partnership Conclave organized by Confederation Of Indian Industry (CII) in New Delhi last week.

Harrison said that Singh accompanied by Dlamini-Zuma and Amorim had also called on President Thabo Mbeki at his official residence in Cape Town.

"The three Ministers briefed the President regarding progress made by the IBSA initiative in various sectors.

"They also discussed with President Mbeki regional and international issues of mutual interest, including those related to the reform of the United Nations."

The three countries expressed their willingness to work together so that effective and meaningful decisions could be taken which should provide the present multi-lateral system its due legitimacy and credibility.

The IBSA Commission, which was launched in Brazil in June 2003, would continue with their discussions today.

The Ministerial Commission meeting had been preceded by a Senior Officials' Meeting and Joint Working Groups in the areas of trade, information society, science & technology, transportation, tourism, agriculture, education, culture and Defence.

The three countries have also launched a Business Council to promote greater economic and trade ties between the three countries.

Discussions were also held on an IBSA Seminar on Economic Development & Social Equity, which will be held in Rio deJaneiro in August 2005.