Thu, Feb 23, 2017 | updated 05:09 PM IST

India, SA acknowledge valuable contribution of BRICS, IBSA

Updated: Jul 08, 2016 23:32 IST
Pretoria (South Africa), July 8 (ANI): Acknowledging the valuable contribution of BRICS and IBSA in reforming the global financial and economic architecture, India and South Africa on Friday agreed to continue with the institution-building momentum in BRICS with an aim to further bridge the investment-gap in key economic sectors.

In a joint statement issued following bilateral talks, both countries also expressed satisfaction at the operationalization of the New Development Bank (NDB).

Prime Minister Narendra Modi, who is in Pretoria on a four nation Africa visit, and South African President Jacob Zuma led their respective delegations for the talks.

"Cognizant of the BRICS economies significant role in stabilising global economic growth in challenging times, the leaders agreed to further enhance cooperation and coordination within BRICS with a view to improve global political and economic governance, and to re-double the voice of emerging markets in international affairs," both nations said in the joint statement.

Both nations further reiterated the commitment to work together to enhance intra-BRICS trade, investment and financial cooperation.

Describing the India, Brazil, South Africa (IBSA) as "an effective Forum, embodying the democratic-spirit of three large democracies", India-South Africa reaffirmed their strong commitment to further consolidate the IBSA process.

Both sides applauded the good work carried out by the IBSA Fund in sharing experiences, expertise, and capacities with the developing countries in a South-South Development and Cooperation framework.

They noted that the IBSA Fund Agreement has been agreed by all parties and is ready for adoption.

Both sides agreed that South Africa will host the 8th Trilateral Commission Meeting and the 6th IBSA Summit, which will be hosted by India next year.

Furthermore, on Indian Ocean Rim Association (IORA), President Zuma noted that IORA gained new momentum when India took over as Chair and committed that it will be South Africa's objective to ensure that this momentum is sustained during its incoming Chairpersonship.

Both leaders noted the importance of the Ocean Economy, growing interest by other countries to join the organisation as dialogue partners, and the strategic nature the Indian Ocean can play in developing the Region.

India and South Africa today inked three Memoranda of Understanding and one Programme of Cooperation to take their "partnership in progress" one more step forward.

Earlier, Prime Minister Narendra Modi received a ceremonial welcome at the Union Building of Pretoria, which was followed by one-on-one private conversation with President Jacob Zuma and delegation-level talks.

In the evening, he visited the Nelson Mandela Foundation and participated in the India- South Africa Business Meet.

He also met prominent anti-apartheid revolutionaries and their families.

Prime Minister Modi arrived here on Thursday evening on the second leg of his four-nation five-day tour to the African continent with an aim to enhance mutual cooperation and understanding on major issues of common interest. (ANI)

New York [USA], Feb. 23 (ANI): Malaysia has asked Interpol to put out an alert for four missing North Korean suspects wanted in connection with the death of Kim Jong Nam, the estranged half-brother of North Korean leader Kim Jong Un, police said Thursday.

Full Story >>

New Delhi [India], Feb. 23 (ANI): The latest International Student Survey has shown a record 10 per cent surge in the number of international students coming to Australia to 5,54,179.

Full Story >>

Islamabad [Pakistan], Feb 23 (ANI): Pakistan's Federal Investigation Agency (FIA) has arrested the Director General of National Database and Regulatory Authority (NADRA), Tahir Akram, over corruption charges.

Full Story >>

Islamabad [Pakistan], Feb. 23 (ANI): The Pakistan Supreme Court (SC) today reserved its verdict on the Panama Leaks case and stated that a verdict would be announced at a later date.

Full Story >>

Lahore [Pakistan], Feb 23 (ANI): At least eight people have been killed and several others injured after a powerful explosion rocked an under-construction building in Lahore's busy Defence Y block area.

Full Story >>

Four killed, six injured in Lahore blast

Updated: Feb 23, 2017 13:07 IST

Lahore [Pakistan], Feb 23. (ANI): At least four persons were killed and six others injured after an explosion in Lahore's DHA Z-Block.

Full Story >>

Islamabad [Pakistan], Feb. 23 (ANI): Pakistan and Iran have agreed that the Border Security Commission of the two countries will meet soon to ensure that terrorists and smugglers are not able to operate from each other's territories.

Full Story >>

Islamabad [Pakistan], Feb. 23 (ANI): Pakistan Prime Minister Nawaz Sharif arrived at the Esenboga Airport in Ankara on a three day official visit to Turkey.

Full Story >>

Kampala (Uganda), Feb. 23 (ANI): Amin M. Mawji, OBE, Diplomatic Representative, Aga Khan Development hailed the growing partnership between India and Uganda, saying the relationship is building the foundation for future economic progress.

Full Story >>

Islamabad [Pakistan], Feb 23 (ANI): Pakistan has speeded up its efforts to fight terrorists as it is silently enhancing its military capability by acquiring equipment and weapons required to combat terrorism.

Full Story >>

Kampala [Uganda], Feb. 23 (ANI): Rahul Sikka, Larsen and Toubro's Vice President and Head Africa Power Transmission and Distribution, has welcomed the decision to manufacture in Uganda with Indian skills and expertise, saying the local population needs to be empowered for long-term goals.

Full Story >>

Kampala (Uganda), Feb. 23 (ANI): Rahul Sikka, Larsen and Toubro's Vice President and Head Africa Power Transmission and Distribution, has said Prime Minister Narendra Modi's move to demonetise high-denomination currency notes of Rs. 500 and Rs. 1,000 has brought more people into the periphery of tax-related activities.

Full Story >>

New York [USA], Feb. 23(ANI): Russia hits back over allegations that Moscow was involved in a failed coup in Montenegro and an attempt to assassinate the country's former Prime Minister Milo Djukanovic, stating the claims may damage relation between the two nations.

Full Story >>

New York[USA], Feb. 23(ANI): According to a recent poll, US President Donald Trump's approval rating has dropped over the last month, with a majority of voters now disapproving of his job performance.

Full Story >>

New York[USA], Feb. 23(ANI): Mexico indicated that it intends to take hard stand against Trump administration's new immigration directives that could have dramatic implications for the United States' southern neighbours, ahead of a visit by Secretary of State Rex Tillerson.

Full Story >>

New York [USA], Feb. 23(ANI): The Indian-Americans are likely to be impacted by the Donald Trump administration's issuance of tough new orders for a sweeping crackdown on illegal immigrants.

Full Story >>

London [UK], Feb. 23(ANI): U.S. President Donald Trump's government revoked landmark guidance issued to public schools, in defense of transgender student rights, which would permanently scrap transgender student protections in schools.

Full Story >>

London [UK], Feb. 23(ANI): U.S. Vice President Mike Pence condemned "vile act of vandalism" at a suburban St. Louis Jewish cemetery, where more than 150 headstones were damaged earlier this week.

Full Story >>

New York [USA], Feb. 23(ANI): Former leader of Hong Kong Donald Tsang has been sentenced 20 months imprisonment for misconduct in public office.

Full Story >>

Marine Le Pen's aides under investigation

Updated: Feb 23, 2017 05:07 IST

New York [USA], Feb. 23(ANI): The chief staff of French leader Marine Le Pen was put under formal investigation after a day of questioning over the alleged misuse of European Union(EU) funds to pay parliamentary assistants.

Full Story >>