SMEs form strategic alliance
The union minister of commerce and industry Mr Anand Sharma said that there is immense scope for co-operation and strategic alliances between the small and medium enterprises (SME) sectors in India and South Africa.
He also informed, talks regarding preferential trade agreement (PTA) between India and South African Customs Union (SACU) are expected to conclude soon.
On the investment perspective, Sharma said that South Africa is one of the attractive destinations for Indian investors and many Indian companies in the agro –processing, pharmaceutical, energy, tourism, mining, film industries, etc have established their footprints.
He later emphasised the need for sustained and institutionalised dialogue at the ministerial level on issues relating to trade and investment, speedy conclusion of various agreements like India –SCAU PTA and bilateral investment promotion and protection, agreement (BIPPA).
The president of the Republic Of South Africa, Jacob Zuma in an interactive session organised by Confederation of Indian Industry said that the two countries require strengthening and developing linkages between the SME sectors of the two countries so that they may take advantage of global opportunities.