New Delhi, Oct 15, 2008With financial crisis gripping the developed world, Prime Minister Manmohan Singh on Wednesday [15 October] raised the pitch for reforms in the UN, G-8 and other international institutions of governance and emphasised that the voice of the developing countries should be heard.
Inaugurating the India-Brazil-South Africa (IBSA) summit here, he said the Doha round of World Trade Organisation (WTO) talks should be approached purposefully so that these negotiations are concluded in a "manner that promotes development and inclusive growth".
"We are meeting against the backdrop of international financial crisis," he said addressing the third Summit of the three leading economies of three continents.
"Our voice on how to manage this crisis in a way that does not jeopardise our development priorities needs to be heard in international councils," Singh said in the presence of Brazilian President Luiz Inacio Lula da Silva and his South African counterpart Kgalema Motlanthe.
The prime minister underlined the need for renewed effort, more than ever before, for the reform of institutions of international governance whether it is the UN or the G-8.
Singh also talked about the challenges posed by increase in energy and food prices and the problem of terrorism, saying these "threaten our development effort".
Underlining the importance of IBSA, he said the forum is "uniquely placed" to cooperate in these areas.
Noting that India, Brazil and South Africa are "dynamic developing economies" located in three different continents, the Prime Minister said "IBSA has an important role to play internationally."
He underlined that the three countries "have a key role to play in ensuring equitable global growth and in contributing to international stability."
Contending that IBSA has become a role model for effective South-South cooperation, Singh said the forum provides a platform for the three countries to learn from each other's experiences and to synergise complementaries in a mutually-beneficial manner.
He said the working groups of the IBSA are making efforts to identify concrete projects and activities for trilateral cooperation. "Our focus must constantly remain on implementation so that the benefits of our cooperation can be brought to the doorsteps of our people."
The prime minister said improving connectivity among IBSA countries "remains a challenge and must remain a strategic objective".
Source: PTI news agency, New Delhi, in English 0958gmt 15 Oct 08
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