Brazil commits to $15bn trade target
President Lula has agreed to increase trade between Brazil, India and South Africa to more than $15 billion (£7.4 billion) by 2010.
The agreement emerged on the second day of the India-Brazil-South Africa (IBSA) summit held in South Africa this week.
Prime Minister Singh of India said: "IBSA is a unique model of trans-national co-operation. We come from three different continents but we share the same views.
"We also held very constructive discussions on the Doha Development Round of talks and it is important that we remain committed to achieve balanced, equitable outcome of this process."
President Lula echoed these sentiments telling reporters "we want the best for our people…[and] we know how to achieve that".
Discussions at the summit ranged from enhancing political and trade relations to improving air and maritime travel links between the countries.
The three nations are also expected to sign co-operation agreements regarding health, medicine, social issues, tax administration and wind resources.
IBSA aims to promote dialogue and co-operation between the three southern-hemisphere countries.
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