The ministers will hold talks at the two-day meeting starting today under the India, Brazil, South Africa (IBSA) Dialogue Forum established in June last year.
Brazil has reportedly been seeking a free trade deal among developing countries as a way of offsetting the trading clout of developed nations, and is keen to work on a trilateral agreement with India and South Africa.
"The foreign ministers are expected to work out a preliminary plan to explore such a free trade agreement," said Indian Foreign Secretary Shashank, who like many Indians uses one name.
India's foreign minister Yashwant Sinha and his Brazilian counterpart Celso Amorin and South African minister Nkosazana Diamani-Zuma will also discuss ways of creating strong trading partnerships with China and Russia to make their presence felt at the World Trade Organisation.
"The three countries are also likely to establish a trust fund under the aegis of the United Nations Development Program to address problems of poverty and hunger by providing greater access to education and health," said Shashank.
Seven interactive sessions on themes ranging from energy to development have also been planned during the two-day forum.
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