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IBSA:- India, Brazil, South Africa
IBSA stands for India, Brazil, and South- Africa. The IBSA Dialogue Forum promotes international cooperation among these 3 countries. It aims at expanding the means of effective co-operation and understanding between these 3 nations as well as the continents of Asia, South America, and Africa.
BRICS is one of the supersets that IBSA represents. Agreements on shipping, maritime transport matters, a momentum of understanding on Agriculture, Biofuels, and co-operation on the Information Society etc. have been signed between the 3 countries. The IBSA dialogue forum was formalized in 2003 through the ‘Brasilia Declaration’. It has been financing countries of lesser economic development based on their capabilities in India, Brazil and South Africa and their practices to fight hunger and poverty. It does not have a headquarters or an executive secretariat. The formation of such an international tripartite grouping has deepened and strengthened their ties in various areas and have contributed to the building up of a new political and international architecture.