18 Oct '11, 10am

India, Brazil, South Africa discuss trade

India, Brazil, South Africa discuss trade

PRETORIA: The leaders of the emerging economies of India, Brazil and South Africa (IBSA) meet on Tuesday to discuss trade and investment opportunities in a summit dominated by the global economic crisis. "The objectives of the summit are to promote South-South cooperation as well as trade and investment opportunities amongst the three countries," the department of foreign affairs said in a statement. The countries had managed to surpass intra-trade targets set during the forum's inception in 2003. Addressing a meeting of ministers, South Africa's trade minister said trade relations amongst IBSA countries had shot up significantly in the wake of the global economic recession. "We have set ourselves a target of achieving $10 billion of a combined intra-IBSA trade by the year 2010, and in fact we achieved that in 2009, in the midst of the first wave of global economic recessi...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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