Reform to bring wealth to developing nations, says Indian Minister of State

2008-10-14 00:00

Comprehensive reforms are needed in the UN general assembly, security council, the WTO and world financial systems to give the developing nations of the world their share of wealth, the Indian Minister of State for External Affairs, Anand Sharma, told delegates to the IBSA Editors' Conference yesterday.

The role of the India, Brazil, South Africa bloc in promoting this objective had gained in importance in a way that could not have been foreseen at the IBSA launch in 2006 and in the light of the collapse on Wall Street, he said. SA president Kgalema Motlanthe, Indian Prime Minister Manmohan Singh and president Lula da Silva of Brazil are expected to put forward a formal policy on united action by the three countries at today's (wed) summit in New Delhi.

Previewing the summit, Sharma said that a 'unipolar world cannot be'', and that IBSA's responsibility is to promote a world that is 'equitable, democratic and multipolar'. He praised South Africa and Brazil for their role in blocking a developing-world unfriendly policies at the July round of Doha talks, and asserted the right of nations to protect their vulnerable constituencies, in India's case its farmers. He also praised the two countries for the role of their courts and civil society in fighting for making generic medicine available more cheaply and taking on the pharmaceutical industry.

He cautioned, however, that it is important to start developing consensus among the nations of Africa and Latin America to give more weight to the efforts of IBSA in poverty alleviation and in developing democracy and participation in all global institutions.

For Yves Vanderhaeghen's blog on his India trip, click here.

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