Importance of IBSA
Solidarity among developing countries – Throughout the period of its marginalisation by BRICS, a strong body of officials and experts in the three countries has held the view that IBSA is the true inheritor of solidarity among developing countries, which was nurtured from the Bandung Conference (1955) through UNCTAD and G-77 to the BAPA+40 Declaration (2018).
South – South Cooperation – It is the champion of South-South Cooperation, and the advocate of a coordinated response by developing economies to secure the Sustainable Development Goals (SDGs).
Shared Values – The glue that binds IBSA countries together is their faith in democracy, diversity, plurality, inclusivity, human rights and rule of law. This was reiterated through the IBSA Declaration on South-South Cooperation, issued in Pretoria in June 2018.