Third IBSA Summit will focus on financial crisis: Anand Sharma

October 14th, 2008 - 6:22 pm ICT by ANI  

Manmohan Singh

New Delhi, Oct 14 (ANI): Minister of State for External Affairs Anand Sharma on Tuesday said that the joint declaration to be brought at the end of the third India-Brazil-South Africa (IBSA) Summit will focus on the world financial crisis.

Sharma was speaking to reporters at the concluding session of Editors Conference today.

Ahead of the summit, which is beginning on Wednesday, business leaders, editors, women empowerment group and dialogue forum including journalists, women activists, intellectuals and policy makers of the three countries are holding discussions to prepare the agenda for the summit level talks.

During the summit, the three nations are set to focus on their role in evolving a global financial architecture.

Global financial crisis and energy security will top the agenda of the summit.

Besides, terrorism, multilateral trade negotiations, inclusive development and food security will also be the focus of the discussions.

Prime Minister Dr. Manmohan Singh, South African President Kgalema Motlanthe and Brazilian President Lula Da Silva will also discuss a host of other issues to strengthen, widen and deepen the IBSA cooperation.

External Affairs Minister Pranab Mukherjee in his inaugural address to the Dialogue Forum has called for greater cooperation among the IBSA countries for reforms in the international financial architecture that will serve the interests of the developing countries.

Mukherjee also called for exploiting the strategic potential of the grouping in building a more inclusive and equitable global economic order.

India , Brazil and South Africa collectively fight for the rights of developing countries at the Doha round of negotiations and have advocated reforms in the UN Security Council and other global financial institutions to bring them in tune with the changing times. (ANI)

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