Nigeria and India must work together to reverse the imbalance in international financial and trading systems and make them more development friendly, Indian Prime Minister Dr. Manmohan Singh said in Abuja yesterday.

Addressing a joint session of Senators and members of the House of Representatives, Dr. Singh said: "The crushing burden of debt on the poorest of the poor, and barriers to trade in the form of restricted market access and distortion in subsidies need to be removed." According to him, such partnership is to steer the global political and economic agenda towards addressing the legitimate concerns of developing countries.

He said, "We have vital interest in preserving and promoting the effective role of the United Nations. For this, the structure and functioning of the organization has to reflect contemporary global realities. It has to become a truly representative world body."

The Indian Prime Minister also identified socio-economic disparities as the main cause of social tension in countries around the world. "The principal challenge before us remains the socio-economic development of our people. The information revolution and higher level of literacy have raised expectations. Disparities are leading to social tensions. Economic growth has to be accompanied by better distribution of its benefits," he said.

He further said, "Our partnership is for development. We need to share experiences on effective strategies for sustainable development, poverty alleviation, healthcare facilities and universal education. In this context, being largely agrarian societies, there is great potential for cooperation in agricultural research, soil and water management and food processing."

Dr. Singh said both Nigeria and India view acts of terrorism as a grave threat to human-kind. "We seek to upgrade our cooperation on security matters to meet these emerging threats and challenges to our social fabric." While thanking Nigeria for supporting India's bid for a permanent member status in the proposed expanded UN Security Council, Dr. Singh said; "We also believe that no reform of the Security Council would be complete without adequate representation from Africa. We support Nigeria's position that the General Assembly should resume its role as the pre-eminent organ of the UN, as originally envisaged in the UN charter."

The Indian Prime Minister said his country's trade with Africa has expanded, saying "India is also a large growing market. We wish to see many more African companies doing business in India. We will facilitate this process." He said India seeks to promote healthy relations with African countries, adding that "Ours is a partnership for peace, stability and security. Without peace, there cannot be sustained economic progress. Both India and Nigeria seek peace and stability in their neighbourhood. Nigeria's contributions to conflict resolution in Africa are well known."

Dr. Singh disclosed that technical cooperation between India and African countries has reached an outlay of over one billion US Dollars. "Annually, over 15,000 African students study in India. Many Indian engineers, doctors, accountants live and work in Africa."

He said India seeks much greater convergence with Africa and in line with that aspiration, "We have decided to create a high level dialogue with the great continent of Africa. The first meeting of the India-Africa Forum Summit will be hosted by us in New Delhi in April, 2008. We look forward to Nigeria's active contribution to this initiative."

In her vote of thanks, Speaker Patricia Etteh said both India and Nigeria have pursued similar ideologies at international organizations. "We share many things in common, and both countries have pursued fairly similar views at the UN, the Commonwealth, and the Non-Aligned Movement. While India is the largest democracy in the world, Nigeria is the largest democracy in Africa. We, therefore have a lot of things we can learn from one another."

Meanwhile, shortly before the commencement of the joint session, Senate President David Mark disclosed to senators that President Umaru Musa Yar'Adua will present the 2008 appropriation bill before a joint session of the Senate and the House of Representatives on Thursday, at 12 noon. The presentation by the President will precede a budget consideration retreat to be embarked upon by senators in Port Harcourt, the Rivers State capital, beginning October 28, 2007.

Meanwhile, Nigeria and India yesterday sealed four cooperation agreements on defence, world affairs and foreign services as well as protocol for foreign office consultations.

The agreements were sealed at the Council Chamber of the Presidential Villa as part of the three days bilateral talks between a delegation from the two countries in Abuja during the visit of the Indian Prime Minister, Dr Manmohan Singh who led his country's delegation while President Umaru Yar'Adua led the Nigerians.

The four Memoranda of Understanding (MOU) which are now to be known as the "Abuja Declaration on Strategic Partnership between India and Nigeria" are to be closely followed by an additional nine agreements that would be finalized and signed within the next six months.

The Memorandum signed by both leaders yesterday included that of Foreign Service between the India Foreign Service Institute and the Nigerian Foreign Service Academy; World Affairs (between India Council for World Affairs and the Nigerian Institute of Foreign Affairs); Protocol for Foreign Office Consultations; and finally the MOU on Defence Cooperation which was signed by the Permanent Secretary of the Nigerian Ministry of Defence and his Indian counterpart.

The follow up Agreements billed for the next six months are those on Double Taxation Avoidance; Investment Promotion and Protection; Inter Governmental Science and Technology; Air Service (Renewal of the 1976 Mutual Legal Assistance Treaty; Extradition Treaty; Trade; Cooperation against Trafficking of Drugs; and finally on Cultural Exchange Programme 2008-2010.

In a statement issued at the end of the talks, both countries agreed to significantly enhance mutually beneficial trade and investment exchanges in sectors such as infrastructure including railways, agriculture, food processing, small and medium enterprises, power generation, fertilizers, ICT, pharmaceuticals automobiles, auto-components and other sectors; with the fifth meeting of the joint Commission to be staged in the next few months.

Both sides agreed to further strengthen and encourage further cooperation in the oil and gas sectors, especially related companies in that sector; and as part of the agreement, the Indian government has agreed to establish two IT laboratories in the Nigeria Defence Academy (NDA). The two nations are also to collaborate in the area of peacekeeping under the United Nations.

Before the talks began, the Indian Leader had inspected A Guard of Honour mounted by the Brigade of Guards at the Presidential Villa. The visitor was accompanied by his wife.

Present at the ceremony were the FCT Minister Dr. Aliyu Modibbo Umar, Minister of Defence Alhaji Mahmud Yayale Ahmed, National Security Adviser to the President Gen. Abdullahi Sarki Muktar, the Chief of Staff, State House General Abdullahi Mohammed, Minister of State, Health Chief Gabriel Adukwu and the Minister of Foreign Affairs, Chief Ojo Madueke.