7th IBSA Academic Forum held with productive conversation on economic partnerships: MEA
Aug 11, 2021
New Delhi [India], August 11 : Ministry of External Affairs Secretary (Economic Relations) had a fruitful and productive conversation with 7th IBSA Academic Forum colleagues on economic partnerships, said the ministry on Wednesday.
"7th IBSA Academic Forum was held today virtually. Secretary ER had a fruitful and productive conversation with #IBSA colleagues on Economic Partnerships. Underscored the complementarities that like-minded major developing economies #IBSA partners enjoy.
According to an official statement, External Affairs Minister for state Rajkumar Ranjan Singh has inaugurated a two-day (August 11-12) of the 7th IBSA Academic Forum today.
"India, Brazil and South Africa, united in their practise of democratic ideals and longstanding battle against uprooting colonial legacies, have high stakes in expediting reforms of multilateral bodies including the UN, the IMF, the World Bank, the WTO and the WHO, The MOS said in an official statement.
He also highlighted that alliances in the Global South can help implement the development agenda with values of equality, non-conditionality, and non-interference at its core, while stressing the centrality of the Sustainable Development Goals and the principle of Common but Differentiated Responsibilities and respective capabilities.
The Minister appreciated the efforts under the ongoing IBSA fellowship programme and making an indelible contribution to advancing partnership and collaboration. He also noted the IBSA Fund which has performed exceptionally well all through these years since its inception, and represents a model of cooperation that truly reinforces the 'southern development' narrative and advances multilateral solutions for achieving SDGs.
The two-day (August 11-12) event is being hosted by the Research and Information System for Developing Countries (RIS), an autonomous think-tank of the Ministry of External Affairs, Government of India.
India is the incumbent Chair of IBSA. IBSA is a unique Forum that brings together India, Brazil and South Africa, three large democracies and major economies from three different continents, facing similar challenges. IBSA's success demonstrates, most vividly, the desirability and feasibility of South-South cooperation beyond the conventional areas of exchange of experts and training.
