ISDS Case Map
Brazil
Brazil and the United States are closer than ever to signing a bilateral tax treaty, although a similar accord to protect investments in the two countries is a bit further off, officials of both countries said Tuesday.
As was anticipated Mercosur senior members Argentina and Brazil proposed Friday an increase of the common external tariff, (AEC) for certain products, and as was expected junior members Uruguay and Paraguay rejected the idea.
With the aim of enhancing co-operation between India, Brazil and South Africa in the field of Small Industries, the Third Tri-nation Summit for Small Business Development began in Faridabad. Inaugurating the Summit the Union Minister of Micro, Small and Medium Enterprises Shri Mahabir Prasad raised hope that the summit will help the small industries of IBSA countries to meet global challenges.
Last month, captains of industry from India, Brazil and SA (Ibsa) descended on the Indian capital for the third summit of the Ibsa Trilateral Business Council.
The figures are undoubtedly impressive. A total combined gross domestic product (GDP) in purchasing power parity (PPP) terms of more than $5,28- trillion, or 8% of the total global PPP GDP of over $65,6-trillion. A total population of more than 1,39-billion people, or just under 21% of the global population of more than 6,7-billion. These numbers show the combined weight of India, Brazil and South Africa (Ibsa), the three member countries of the Ibsa Dialogue Forum.
Can India, Brazil and South Africa (IBSA) together make more money than they can spend? This was the fervent of the South African High Commissioner Francis Moloi at the third IBSA Business Summit 2008 that recently took place in New Delhi. Considering the three countries lie in different continents, connectivity is a major issue. In fact, integrating the three economies may be the ideal way to combat the global downturn.
Developing countries have talked of the philosophy of South-south cooperation for development for a very long time. A number of initiatives was launched during the 1960s and 1970s. However, progress was modest because of lack of resources and institutional weaknesses in developing countries. With the emergence of countries like Brazil, India and South Africa in this millennium with considerable capabilities and collective development experiences that South-south cooperation has begun to be seen as a viable strategy.
Reflecting their growing economic ties, India, Brazil and South Africa (IBSA) have set an ambitious trade target of $15 billion between the three countries by 2010.
When leaders of India, Brazil and South Africa meet next week for their annual trilateral summit, the one issue on top of their minds
will be the unfolding financial crisis.
Business leaders from India, Brazil and South Africa are meeting here on October 13 to deliberate on trilateral trade co-operation and will also discuss issues related to tourism and student exchange programme.
