SME Times News Bureau | 24 Sep, 2012
Bilateral trade
between India and South Africa is likely to touch $15 billion in the current
year, two years ahead of the official target, a government statement said
Sunday.
India-South Africa bilateral trade crossed $14 billion in 2011 and it is
expected to reach $15 billion this year itself, well ahead of the 2014 target.
India's Commerce and Industry Minister Anand Sharma and his South African
counterpart Rob Davies expressed this hope during a ministerial meeting,
according to a statement issued by the commerce and industry ministry.
During his two-day visit to South Africa that ended Saturday, Sharma also met
South African President Jacob Zuma and discussed global and regional
developments and areas of bilateral cooperation.
During the meeting, Sharma emphasised the need for early conclusion of
preferential trade agreement between India and the South African Customs Union
(SACU).
The two leaders also emphasised the need for boosting bilateral investments.
Indian companies have already invested over $8 billion in South Africa.