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7th IBSA Academic Forum inaugurated

7th IBSA Academic Forum inaugurated

  • IBSA is a unique Forum which brings together India, Brazil and South Africa.
  • The two-day event is being hosted by the Research and Information System for Developing Countries, RIS an autonomous think-tank of the Ministry of External Affairs.
  • It features a conversation with IBSA Sherpas on economic partnerships that will help in creating resilient value chains post-Pandemic, accelerate the digital and green transition processes.

About Event

  • The event has three topical plenary sessions:
  1. Post-Pandemic imperatives for access to finance and economic recovery
  2. IBSA cooperation on trade and resilient value chains
  3. Creating post-pandemic resilience through technology and inclusive social sector development.
  • India is the incumbent Chair of IBSA.

IBSA

  • It is a unique Forum which brings together India, Brazil and South Africa, three large democracies and major economies from three different continents, facing similar challenges.
  • All three countries are developing, pluralistic, multi-cultural, multi-ethnic, multi-lingual and multi-religious nations.
  • The grouping was formalized and named the IBSA Dialogue Forum when the Foreign Ministers of the three countries met in Brasilia on 6 June 2003 and issued the Brasilia Declaration.
  • Cooperation in IBSA is on three fronts:
  1. As a forum for consultation and coordination on global and regional political issues, such as, the reform of the global institutions of political and economic governance, WTO/Doha Development Agenda, climate change, terrorism etc.
  2. Trilateral collaboration on concrete areas/projects, through working groups and People-to-People Forums, for the common benefit of three countries.
  3. Assisting other developing countries by taking up projects in the latter through IBSA Fund.

IBSA Leadership summit

  • IBSA does not have a headquarters or a permanent executive secretariat.
  • It counts on the Summits of Heads of State and Government at the highest level.
  • Five IBSA Leadership Summits have been held so far.
  • India as the current IBSA Chair has planned to convene the 6th IBSA summit virtually on 5th September 2021, under the theme “Democracy for Demography and Development”.

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