New Delhi, Nov 19 (ANI): With the aim of enhancing co-operation between India, Brazil and South Africa (IBSA) in the field of small industries, the third tri-nation summit for small business development began here today.

Inaugurating the Summit the Union Minister of Micro, Small and Medium Enterprises Shri Mahabir Prasad raised hope that the summit will help the small industries of IBSA countries to meet global challenges.

The Minister said that in order to achieve this objective, it is essential to have synergy between the complimentary strengths of MSMEs of these three countries. This synergy will not only improve the competitiveness of small enterprises but will also enable them to enhance their participation in global market.

Stating that the government is preferring promotional approach to protection approach for MSMEs, Prasad said that the Government, in the post reform period, has taken many steps to build up their competitive strengths and improve their product quality.

India, Brazil and South Africa share a similar economic atmosphere and have stood together on various multilateral forums.

The delegates from the participating countries are hopeful that the tri-nation summit will provide a platform for meaningful business linkage between small enterprises of the three countries.

55 delegates representing Brazil and South Africa are participating in this important programme. After a series of successful talks organized earlier in South Africa and Brazil the third tri-nation summit promises to strengthen the existing relationship between the IBSA countries. (ANI)