"I have listened with great attention to the reports presented on the outcome of the IBSA Academic Forum, Business Summit, Editors Forum and Women's Forum. Together with the proposed Parliamentary Forum, these Forums are critical for mainstreaming and broad basing IBSA's cooperation activities.

It is only with the broadest possible participation of different segments of society, decision makers and intelligentsia that we will be able to attain the full potential of IBSA for cooperation.

The range of issues covered in the discussions of these Forums is indeed impressive. Discussions have covered reform of global economic governance and the UN, food and energy security, WTO, transportation and connectivity, role of bio-fuels, visa facilitation, climate change, gender equality and poverty eradication.

These are all vital issues that affect our three countries. Our collective experiences and joint activities would be of benefit not only to us but also to other developing countries.

We have set for ourselves a target for trilateral IBSA trade of US$ 15 billion by 2010. As per current trends, it appears that we would be able to achieve this. If President Lula and President Motlanthe agree, I propose that we set a target of US$ 25 billion by 2015. This would be a challenge not only for our three governments but also for trade and industry to work with greater enthusiasm and vigour.

A study prepared for the IBSA Business Summit concludes that the three IBSA countries have a lot to contribute to each other's economies to augment the process of international economic integration. However, the current levels of intra-IBSA economic linkages are far from optimal though growing rapidly.

I suggest that all the three governments reflect on some of the proposals that have been mooted at the Summit for greater trade integration and multi-sectoral linkages. These include a Comprehensive Economic Cooperation Agreement and a Protocol on Trade and Business Facilitation that includes the major business associations of the three countries.

We should also study some of the proposals made for enhancing connectivity and logistical linkages by encouraging private sector participation in IBSA routes. These include promotion of long term arrangements between shippers and carriers using incentives, development of a dedicated IBSA trans-shipment facility in South Africa to connect India and Brazil and strategic partnerships between the large domestic logistics operators of the three countries.

The Academic Forum is a valuable part of the IBSA process. Lively exchanges among our academics and scholars are essential to develop the intellectual basis for common understandings. I know that the Forum has had very substantive discussions on the current economic crisis over the past few days. The Forum must now think of how to develop mechanisms for structured interaction with the governments so that their findings can be factored into policy making.

The subject of women's empowerment is not often given the importance it deserves. As we saw from the presentation that was made, there are a number of issues, many of them cross cutting in nature, on which the Women's Forum has had substantive discussions. I commend the work of the Forum.

Each of our countries has a vibrant media. They will play the most important role in educating our people about IBSA and in general about each other. I do hope that the ideas presented today will be carried forward.

I am happy that we are discussing the establishment of an IBSA Parliamentary Forum. This will add a vital new dimension to our process of cooperation. The strengthening of the IBSA ethos in our Parliaments would help further strengthen our collective effort to bring our countries and people closer together.

Before I conclude, I would like to congratulate the participants in the different Forums and thank them for their contribution and efforts. I would urge them to widely disseminate the outcome of their endeavours in their countries so that we can further engender the IBSA spirit".