News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 21 years ago
Home  » Business » India, Brazil, S Africa form Southern bloc

India, Brazil, S Africa form Southern bloc

June 07, 2003 12:35 IST
Get Rediff News in your Inbox:

India, Brazil and South Africa announced late on Friday they have formed a trilateral bloc to boost trade and pool their political muscle in talks with rich nations.

The new grouping follows soon after the G8 meeting of major industrial nations failed to act on a proposal for subsidy cuts to help Africa and a Brazilian plan to create a global fund to fight hunger.

"When countries like India, South Africa and Brazil speak with one voice, that voice will be heard," said Indian Foreign Minister Yashwant Sinha, flanked by his Brazilian and South African counterparts after their first trilateral meeting.

The first political goal of the three is to push the United Nations to reform its security council and create permanent seats for developing nations. The three would back each other to get seats. The 15-member U.N. Security Council includes ten members chosen on a rotating basis from the U.N. membership and five permanent members -- the United States, China, Russia, Britain and France.

"The first hurdle is to get that reform accepted," said South African Foreign Minister Nkosazana Dlamini-Zuma.

Brazil's new President Luiz Inacio Lula da Silva this week said the three nations, plus China and Russia, had to band together to get the attention of G8 nations preoccupied by the U.S.-led war on terror and global economic weakness.

"We have every interest that this G3 could become a G5," said Brazilian Foreign Minister Celso Amorim. "We will not be exclusive.

The new trilateral grouping, which will focus on stronger commercial ties in technology, defense and transportation, comes two weeks before Lula meets President George W. Bush on his first official visit to Washington.

Lula and Amorin have adopted a more activist foreign policy for Brazil and are intent on strengthening South America's international ties.

Trade between Brazil and India has more than doubled over the last three years while Brazil and South Africa have seen their trade rise 85 per cent. India and South Africa hope to set up free trade deals with South America's Mercosur trade bloc.

Get Rediff News in your Inbox:
Source: REUTERS
© Copyright 2024 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
 

Moneywiz Live!