Date:23/08/2007 URL: http://www.thehindubusinessline.com/2007/08/23/stories/2007082352162100.htm

Back India-S. Africa trade to cross $12 b by 2010

Our Bureau

Hyderabad, Aug. 22 The trade between Indian and South Africa is set to cross the $12-billion mark by 2010 from the $6 billion, according to Mr Jardine Omar, Economic Counsellor at the South African High Commission.

Asking the entrepreneurs from India to explore opportunities in the areas of skill development and small-scale sector, he said growth in commodities trade helped the rise in total trade..

Addressing the members of FAPCCI (Federation of Andhra Pradesh Chambers of Commerce and Industry) here on Wednesday, he said South Africa could offer its expertise in mining, agri-processing and wine making.

On the other hand, India could help South Africa in the areas of skill development to help it sustain the high growth rates it was recording in the last few years. Citing initiatives by Satyam Computer, he said the Indian private sector could contribute a lot in the areas of skill development.

He said his Government would help the Indian entrepreneurs in exploring the trade and business opportunities.

Mr Atluri Subba Rao, President of FAPCCI, said the bilateral trade volume recorded a phenomenal growth in the last 13 years. “From just $3 million in 1992-93, it touched the $4-billion mark in 2005-06.”