10 September 2006
The Deputy President of the Republic of South Africa, Phumzile Mlambo-Ngcuka
says India is a key strategic partner for South Africa. The Deputy President
said this while addressing the Business Forum meeting on the first day of her
four-day official visit to the sub-continent.
âOur countries are both members of a treaty together with Brazil known as
the India-Brazil-South Africa (IBSA) tri-lateral agreement since 2003. Our
political and economic relations are sound and are based on mutual respect and
concern for each other's development. The strength of our economic relations is
illustrated by the South Africa and India Chief Executive Officers' (CEOs)
forum that has been in existence for the past two years. The forum aims to
smooth working relations and to create conducive business environment between
the two countries,â said Ms Mlambo-Ngcuka.
The Deputy President noted that at a bi-lateral level, our objective was to
strengthen and deepen economic linkages through strong business and
governmental co-operation between the two countries. Such good relations, she
pointed out could only have true meaning if was co-operation between the two
nations.
Total trade between SA and India in 2005 saw a considerable increase from
2004. Exports increased by 100%, while imports increased by 55% making India
our 13th largest trading partner, both in terms of exports and imports. The
underlying reason for this increase can be attributed to growing awareness in
South Africa about opportunities in India, as well as Indian awareness about
opportunities in South Africa. India is among the top 10 investing countries in
South Africa, with investments estimated to the value of R10 billion.
She also placed emphasis on the importance of India, Brazil and South Africa
(IBSA) trilateral agreement. This agreement seeks to define a common economic
democracy for all three developing states.
âWe share the same vision of democratic and economic freedom for our people
and indeed we are all driving programmes that will ensure that our economic
growth is shared by all our people,â the Deputy President asserted.
With regard to India's investment in South Africa, Ms Mlambo-Ngcuka
highlighted the contribution by Indian people to the culture and economy in
South Africa as concrete and visible. The new investment in South Africa by
companies like Tata, Mittal Steel and Sahara follow in the footsteps of the
Indian pioneers. Tata recently chose South Africa over Australia and other
competitors.
The Joint Initiative on Priority Skills for South Africa (JIPSA) was given a
boost when seven more trainees were incorporated into the training programme
that commenced earlier this year. The candidates, all black ladies, joined 15
others in the TATA sponsored training course in various fields from town
planning to finance.
âYou have been given this opportunity to learn from this experience. We know
that you will be good ambassadors for our country and will contribute to the
growth of South Africa upon your return. It is an opportunity many others would
have liked to have so make the best of it,â encouraged the Deputy
President.
The Deputy President will be meeting, among others, with various Indian CEOs
with specific focus on tourism, metals and mining, information technology (IT)
and business processing outsourcing, banking and finance, pharmaceuticals,
jewellery, agro processing and South Africa business in India.
Enquiries:
Thabang Chiloane
Cell: 082 888 8783
Issued by: The Presidency
10 September 2006
Source: SAPA
