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Singh to attend two summits in Brazilian capital

Prime Minister Manmohan Singh, who attended the Nuclear Security Summit in Washington, will head to Brasilia for the fourth India-Brazil-South Africa (IBSA) and the Brazil, Russia, India, China (BRIC) summits to be held on April 15 and April 16 respectively.

world Updated: Apr 14, 2010 19:58 IST

Prime Minister Manmohan Singh, who attended the Nuclear Security Summit in Washington, will head to Brasilia for the fourth India-Brazil-South Africa (IBSA) and the Brazil, Russia, India, China (BRIC) summits to be held on April 15 and April 16 respectively.

The fourth IBSA Trilateral Dialogue Process commenced on Monday in Brasilia with the inauguration of the IBSA Academic Forum and was attended by over 100 renowned representatives from the "three major democracies that are joining the world stage as global players", the Brazilian foreign ministry said.

"Our objective is to build a portfolio of cooperation based on successful experiences in promoting inclusive growth. I expect these historical events to have a great impact in rethinking South-South Cooperation", said Rathin Roy, Director of International Policy Centre for Inclusive Growth.

Ambassador Antonio Patriota, secretary-general of Brazil´s external relations ministry, argued that the IBSA countries should not forget their responsibilities towards the development of the global South.

According to a United Nations report, the three emerging economies have been successful in reducing poverty and promoting the well-being of its citizens through policy innovations originated in the South.

"We came out of the (2008-2009 economic) crisis faster than the others", recalled Patriota.

According to Marcio Pochmann, president of the Institute of Applied Economic Research (IPEA), "We need to build a renewed vision and perspective towards development - coming from the South". He argued that the 2008 crises showed the world that we need to rediscover the role of the state in promoting well-being and development.

"IBSA represents the making of a convergence regarding new proposals for development", added Pochmann.