SA, India in maritime pact
24 March 2006
South Africa and India have signed an agreement on merchant shipping that will see increased cargo shipping and trade between the two countries.
South Africa's Transport Minister Jeff Radebe signed the agreement with his Indian counterpart, TR Baalu, in Cape Town on Thursday.
The agreement "gives a signal to our private sectors in India and South Africa that the environment is being laid to cooperate [in maritime relations]", Radebe said after the signing.
The pact will encourage exchange of information for facilitating the flow of commercial goods at sea and strengthening cooperation between the two countries' fleets.
It will also encourage and facilitate the training of black South Africans in maritime skills, Radebe said.
Direct links
With trade between India and South Africa growing steadily, Baalu said, there would now be direct transport links between the Indian financial capital of Mumbai
and South Africa.
Trade between South Africa and India was worth over R14-billion in 2005, with imports from India valued at R7.02-billion and exports to India valued at R7.05-billion, according to the Ministry of Transport.
The ministry of transport said the agreement would boost the government's Accelerated and Shared Growth Initiative, as India was among the top five manufacturing outsourcing destinations in the world, while South Africa ranked among the world's top 12 sea-trading nations.
The agreement was several years in the making, according to an official from India's High Commission to South Africa.
A maritime liaison committee has been established to oversee the implementation of the agreement.
Source: BuaNews
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