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With the end of the India-Brazil-South Africa (IBSA) first summit in Brazil, the world’s largest democracies in developing countries set common goals in the world’s political, economic, and social forums and promised better calibration of policy making. Upbeat officials of the three nations called the meeting “historic” as the range of agreements reached signaled a new watermark in the elusive South-South Cooperation. So far, the world had typically followed an agenda set by developed industrialized nations and always followed an underdog script.
Hence, for the first time, the three major democratic nations with developing economies challenged conventional norms and have agreed to pool resources to meet common challenges such as economic and social development, poverty alleviation, fighting diseases like HIV, etc. The significant trilateral agreements were:
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1. Cooperation in bio-fuels, agriculture, and related fields
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2. Improve maritime services, civil aviation, and build information society to bridge the digital divide in their respective societies
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3. International civilian nuclear cooperation under appropriate International Atomic Energy Agency (IAEA) safeguards, disarmament, and non-proliferation
4. Intensify efforts and cooperation to fight international terrorism
5. Explore increased trade possibilities between India and MERCOSUR (the South American group comprising Brazil , Paraguay , Uruguay and Argentina ) and India and South African Customs Union.
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This is the second trilateral grouping that India has been involved in. The other one was with Russia and China but that grouping is yet to take off
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