in South Africa
2 October 2007
A high-level South African business delegation will visit India next week to
expand trade relations between the two countries and explore investment
opportunities.
The delegation will be led by Essop Pahad, Minister in the Office of the
Presidency. It will also include senior leaders of industry, trade and commerce
as well as representatives from provincial development agencies.
The mission is jointly organised by the International Marketing Council of
South Africa (IMC) and the Department of Trade and Industry (dti). The IMC has
successfully undertaken a number of similar missions in the past including to
the United States of America, Western Europe and the Middle East.
"Our objective is to highlight opportunities for trade and investment in
South Africa to key audiences in important sectors in India," says Iqbal
Sharma, Deputy Director General of Trade and Industry South Africa at the
Department of Trade and Industry. "We also want to raise the profile of South
Africa as an important destination for tourists and visitors."
The mission will leave for India on 7 October and return to South Africa on
12 October 2007. Investment conferences will be held in Mumbai and New Delhi
and members of the delegation will also have special meetings with their
business counterparts in the two Indian cities.
Minister Pahad will be interviewed by the media and participate in Knowledge
Forums that will receive extensive media coverage. During the visit he will
also meet with several members of the Indian cabinet, including the Minister
for External Affairs, Anand Sharma.
Trade between South Africa and India has been growing at about 30% per annum
in recent years. The projections are that bilateral trade will quadruple in the
next four years, reaching more than R100 billion by 2011.
"We want to introduce the Indian business community to the wide range of
investment opportunities that are opening up in South Africa," says Iqbal
Sharma. "On this mission we will focus specifically on a few key areas that
should attract the specific interest of the people we will be meeting."
This includes business process outsourcing, the automotive sector, chemicals
and pharmaceuticals, infrastructure, information technology, and investment
opportunities in South Africa's provinces. These are also among the sectors
identified by the government's Accelerated and Shared Growth Initiative for
South Africa (AsgiSA).
"South Africa has positioned itself as a key destination for global trade
and investment on the basis of its strengths and potential. We now compete on
an equal footing with other comparable markets such as Brazil, Malaysia,
Australia, Singapore and South Korea," says Sharma.
"With sound financial policies in place as well as clearly defined economic
and industrial growth strategies there is significant potential for growth in
investment by Indian companies."
"Investors should grasp the opportunities available to them to reap the
benefits in years to come," says Yvonne Johnston, the CEO of the IMC.
South Africa is currently India's biggest trade and investment partner in
Africa and serves as an important gateway into markets on the rest of the
continent. Together with Brazil the two countries also form the India, Brazil
and South Africa (IBSA) alliance â representing the largest developing
economies on their respective continents.
"There are significant opportunities for growth in trade and investment in
South Africa," says Johnston. "This mission will demonstrate to the Indian
business community that South Africa is indeed Alive with Possibility."
For more information about the mission, or to schedule interviews, please
contact:
Claire Taylor
Meropa Communications
Tel: 011 772 1000
E-mail: clairet@meropa.co.za
Issued by: Meropa Communications on behalf of Department of Trade and
Industry
2 October 2007
