Paru on Friday (12 September) signed an agreement which opened the way for the formal establishment of an Iron Ore Exporting Nations Association.
Paru on Friday (12 September) signed an agreement which opened the way for the formal establishment of an Iron Ore Exporting Nations Association. The ceremony was performed by the Peruvian Ambassador to India, Dr. Alberto Maclean urzua, in the Indian capital, New Delhi, after final talks with the Indian Secretary for External Affairs, Shri V.C.Trivedi.
India has been the prime mover behind a series of negotiations towards the establishment of the new Association.
The agreement -- approved at an 11-nation meeting in Geneva last April -- comes into effect 30 days after the signature of the seventh nation....Peru. other signatories so far ;include Algeria, Australia, chile, India, Mauritania and Venezuela, while Brazil, Sierra Leone, Sweden and Tunisia are also expected to join.
Members of the Association have said that it will not be a price-fixing cartel, but will start with the exchange of information and mining techniques, and increased marketing co-operation.
Both Dr. Urzua and the Indian Secretary for External Affairs made formal speeches at the signing ceremony, welcoming the establishment of the new group.
Transcripts of each follow :-