The First Summit, held in Brasilia on 31 August and 1 September 2000, adopted the following Declaration on the Malvinas Islands: "The Meeting of Presidents of South America, held in Brasilia on 31 August and 1 September 2000, states that the colonial situation of the Malvinas Islands still exists in the South Atlantic. Convinced that maintaining colonial situations is incompatible with the ideals of peace, security and cooperation in the subcontinent, the Meeting of Presidents agreed that the two Parties should resume negotiations with a view to finding a peaceful and lasting solution to the sovereignty dispute as soon as possible in accordance with the relevant resolutions of the United Nations and the Organisation of American States". The Third Summit, held in Cusco (Perú) on 8 December 2004, reaffirmed its support for the legitimate rights of the Argentine Republic in the sovereignty dispute regarding the Malvinas Islands issue.