India-Brazil Joint Statement

India-Brazil Joint Statement

Recently, India-Brazil have issued their joint statement on the occasion of G-20 summit.

The year 2023 also marks the 75th anniversary of diplomatic relations between Brazil and India as well as the 20th anniversary of the IBSA (India-Brazil-South Africa – IBSA) forum.

A look at the key points of the joint statement:

  • Both countries have decided to work together on the framework of G-4 and L.69. G-4 includes Brazil, India, Japan and Germany. Both these groups are demanding reforms in the ‘United Nations Security Council (UNSC)’.
  • On this occasion, Brazil has supported India’s candidature for the non-permanent seat of the UNSC for the term 2028-2029. Both countries are founding members of the ‘Global Biofuel Alliance (GBA). The GBA will facilitate the development and adoption of biofuels.
  • India has welcomed Brazil’s chairmanship of the BASIC Group. It should be noted that the basic group includes Brazil, South Africa, India and China. Additionally, India has also supported Brazil’s presidency of the 30th Conference of the Parties (COP30) to the UNFCCC in 2025.
  • Both countries have expressed their intention to harness the full potential of their economic partnership. For this, both the countries have agreed to work together for the expansion of the India-Mercosur Preferential Trade Agreement (PTA) during Brazil’s presidency of the Mercosur grouping. Mercosur is an economic and political organization. This includes Argentina, Brazil, Paraguay and Uruguay.
  • It has been decided to establish India-Brazil Business Forum for mutual cooperation in the private sector. Both countries have also agreed to expand joint projects in partnership with International Solar Alliance (ISA) and Coalition for Disaster Resilient Infrastructure (CDRI) in other countries of the world.

Source – The Hindu

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