IBSA Forum Agenda

by Dave

The Financial Express

The IBSA Forum, created in 2003 to renew South-South cooperation, is an alliance oriented as much towards coordinating action to narrow global imbalances as towards fomenting trade and trilateral relations. The origins of IBSA go back to the alliance between several countries, including these three, which achieved flexibilisation of the rules on intellectual property at the WTO in 2001, permitting compulsory licensing of patented medicines in emergencies, such as the AIDS epidemic.

So far, around 16 working groups have been created to coordinate sectoral cooperation between the three countries, including public administration, energy, climate change and different social and economic areas. In addition to the sectoral cooperation that is under way, the IBSA Forum has also helped boost trilateral trade.

Trade between Brazil and India has more than tripled since 2003, to $3.1 billion in 2007.