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IBSA: An Emerging Trinity in the New Geography of International Trade

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  • Lakshmi Puri

Abstract

This paper explores the opportunities for further economic cooperation between India, Brazil and South Africa in the context of the IBSA Trilateral Cooperation Forum. The IBSA integrative efforts are opening new avenues for South-South Cooperation in several areas, including on commodities, manufacturing and services exports, transport and energy issues, FDI and transfer of technology, etc. In particular, the paper looks at two tariff liberalization scenarios going beyond the minimalist preferential trade arrangements that have been agreed by IBSA countries. The CGE simulations suggest that significant trade creation gains can be reaped by all three countries. While intra-IBSA trade has tripled over the last decade, a comprehensive tariff liberalization scenario could lead to a doubling of their annual trade levels. The paper concludes with a number of policy recommendations that could help overcoming the remaining challenges for the IBSA trilateral economic cooperation.

Suggested Citation

  • Lakshmi Puri, 2007. "IBSA: An Emerging Trinity in the New Geography of International Trade," UNCTAD Blue Series Papers 35, United Nations Conference on Trade and Development.
    • Handle: RePEc:unc:blupap:35
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    File URL: https://unctad.org/system/files/official-document/itcdtab36_en.pdf?Repec
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    2. R. F. Mikesell, 1963. "The Theory of Common Markets as Applied to Regional Arrangements Among Developing Countries," International Economic Association Series, in: Roy Harrod & Douglas Hague (ed.), International Trade Theory in a Developing World, chapter 0, pages 205-229, Palgrave Macmillan.
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    Cited by:

    1. Suresh K G & Neeraj Aswal, 2014. "Determinants of India's Manufactured Exports to South and North: A Gravity Model Analysis," International Journal of Economics and Financial Issues, Econjournals, vol. 4(1), pages 144-151.
    2. Chandan Kumar & Nalin Bharti, 2020. "Why NTM is a Challenge in Trade Relations? Evidence from India–Africa Agricultural Trade," Insight on Africa, , vol. 12(2), pages 79-103, July.

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