India, South Africa to discuss trade pacts in October
By IANSTuesday, August 31, 2010
NEW DELHI - Indian and South African officials will meet in the first week of October to finalise two agreements to boost two-way trade and investment.
During an interaction with the South African Trade Minister Rob Davies in Johannesburg, Commerce Minister Anand Sharma said both sides would try to resolve all pending issues so that a preferential trade agreement (PTA) could be signed at the earliest.
India has asked the South African government to expedite discussions on a Bilateral Investment Promotion and Protection Agreement (BIPPA).
“It was decided that this issue of BIPPA would also be discussed in the senior officials meetings slated in the first week of October 2010,” said a statement released by the commerce ministry here Tuesday.
Given the the current trend of growth in bilateral trade between India and South Africa, Sharma said he hoped the target of $10 billion set for 2012 could be achieved in 2011 itself.
The two countries are seeking greater collaboration in sectors such as infrastructure, manufacturing, mines and minerals, energy, banking and financial services, agro-processing, pharmaceuticals, information technology, automobiles and auto-components.
