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India, Brazil pledge to push global trade talks
Brasilia, Sep 13 (IANS) India and Brazil Wednesday pledged to work together to put the global trade talks of the World Trade Organisation (WTO) back on track, boost bilateral economic ties and promote grater partnership in energy.
In a joint communiqué after bilateral talks between Prime Minister Manmohan Singh and Brazilian President Luiz Inácio Lula da Silva, the two sides also said a committee on bio-fuels would be created to develop alternate energy sources.
"They emphasized the significance of bilateral technological cooperation in all aspects of energy research and development, with a view to improve and diversify the energy supply," the communiqué said.
The two leaders also said efforts would be made to develop efficient, affordable and cost effective energy technologies.
"In this context, they encourage the development and use of alternative sources of energy particularly bio-fuels to enhance sustainability and reaffirmed that new forms of energy that are clean, safe and economically efficient should be fully explored."
According to the communiqué, constructive discussions were also held on how the two countries - responsible for founding the G20 pressure group on trade talks - can work together at WTO.
"They agreed the substantial political and technical work that has been carried out so far provides a solid platform for the continuation of WTO talks," it said, and hoped that WTO members would reengage in the negotiations in the near future.
The two leaders, according to the communiqué, took note of the robust growth in economic ties - including the five-fold increase in trade from $500 million in 2002 to $2.5 billion - and decided to push the engagement further.
"To this end, exchange of business delegations, increased participation in each other's trade events and promotion of mutual investment and setting up of joint ventures would be undertaken in a concerted manner," the communiqué said.
"The two sides will also encourage establishment of business linkages in banking and other service sectors. They committed themselves to encourage the public and private sectors of their respective countries to increase and diversify the bilateral flows of goods and services."
Manmohan Singh is on a four-day official visit here - the first by an Indian prime minister in 38 years - to hold bilateral talks and to attend the India-Brazil-South Africa summit.
He leaves for Cuba Thursday for the Non-Aligned Movement summit in Havana.


