30 July 2007
Business Unity SA hosts the largest Indian trade delegation yet to visit South Africa this week, as the two countries seek to further cooperation in areas ranging from skills training to information communication technology.
Busa will host the delegation at Sandton's International Convention Centre on 2 and 3 August, with speakers at the event including South African President Thabo Mbeki as well as several other local and Indian government officials and businesspeople.
The meeting, known as India Calling, forms part of the Indian Merchants Chamber's centenary celebrations. India, one of the world's fastest growing economies, has chosen South Africa as a strategic investment destination.
"India Calling is a very important date on South African business' calendar. We look forward to hosting our Indian counterparts and believe the conference will be educational and fruitful for all attending," said Busa chief executive Jerry Vilakazi.
The two business associations will use the event to promote and build business relations, with particular focus on areas such as infrastructure, information communication technologies, pharmaceuticals, skills training, financial services, mining and media.
Building 'south-south' relations
South Africa, India and Brazil are partners in the IBSA forum, which aims to promote closer cooperation between the three, particularly in stimulating economic growth, promoting coordination on global issues and advancing the agenda of developing countries.
Trade between the three nations has risen sharply over the past few years and is expected to grow even more significantly once a formal trade agreement is in place between the IBSA partners.
Trade between Brazil and South Africa rose to more than R10-billion in 2005 from R6.6-billion two years earlier, while trade between India and South Africa totalled more than R14-billion last year, more than double that of 2003.
In November last year, the South African Revenue Services Commissioner Pravin Gordhan hosted his Indian and Brazilian counterparts, KM Chandrasekhar and Jorge Rachid, in Pretoria, where they committed to simplify issues of tax and customs administration and increase cooperation between each other in those areas.
The countries also agreed to boost trade and economic development while also seeking to thwart smuggling, drug trafficking, fraud and tax avoidance in the three nations.
Source: BuaNews
