India-South Africa

India-South Africa trade target for 2012 achieved

India and South Africa are likely to achieve the bilateral trade target of USD 10 billion set for 2012 in the current financial year. The two countries are now working to achieve a higher trade target. At a meeting of India- South Africa Joint Ministerial Commission in New Delhi, the South African Minister of International Relations and Cooperation, Ms. Maite Nkoana-Mashabane and the Minister of External Affairs of India, Mr. S.M. Krishna agreed for an early finalisation of SACU-India Preferential Trade Agreement.

During the meeting the two sides discussed a wide range of subjects of bilateral interest covering political, economic cooperation, trade and investment, infrastructure, mineral resources, agriculture, information and communication technology, cultural relations, security cooperation and visa and consular matters.

India and South Africa have joined the United Nations Security Council as a non-permanent member for the period 2011-12 and would work together in the Council to hasten the process of reform of the United Nations including reform of the Security Council. The two sides reaffirmed their intent to cooperate at regional and multilateral fora including UN, G-77, G-20, IOR-ARC, IBSA and BRIC. India welcomed South Africa into BRIC, to which it has been recently admitted. South Africa also welcomed Indian Chairmanship of IOR-ARC and looked forward to work with India at IOR-ARC.

The South African side assured India of its active support at the Second India Africa Forum Summit to be held in Addis Ababa in May this year. They said that it was one of the most important partnerships in Africa and manifests India's long engagement with Africa.

All pictures and text are Copyright of THE BLUE MOON. No material should be used without written consent of the owner.
Designed & Developed by Yah Infotech