With a view to stimulating trade and investment between Brazil, India and South Africa, representatives from the tax authorities of the three countries have been meeting in Pretoria to negotiate agreements regarding customs regulations.

As the three members of the IBAS group, Brazil, India and South Africa have been forging political and economic ties over the last three years.

Also under discussion in Pretoria were initiatives aimed at creating a free trade agreement between India and Mercosur, the South American common market consisting of Argentina, Brazil, Chile, Paraguay, Uruguay and Venezuela.

Source: Agência Brasil and Embassy of Brazil in London