Another sign of growing South-South alliances: industrial federations from Brazil, India and South Africa have teamed up to advocate for Southern interests in trade negotiations and coordinate investment:
The [new group] will foster the development of an investment network geared to small, medium, and micro-enterprises. ...
"I think that they are increasingly speaking with one voice as three large democracies from three continents. We are obviously not exclusive, and we want to involve more countries in all of this as well, but it is a way to begin a cooperative effort," [Brazil's Minister of Foreign Relations, Celso Amorim] affirmed.
Since the creation of the IBSA - the abbreviation for the union between India, Brazil, and South Africa - in 2003, the three countries have made advances in political projects in the technological field, such as the defense of free software. Between 2003 and 2004, trade between Brazil and South Africa grew around 40%, reaching US$ 368 million (R$ 1 billion). Trade between Brazil and India experienced more modest growth, calculated at 17%.