'Easy to do Business in South Africa'

Happenings

An interactive session with the South African High Commissioner H.E. Mr FK Morule was organised by PHD Chamber of Commerce and Industry on May 22, 2014, at PHD House in New Delhi.

The interaction emphasised on the potential of the proposed Preferential Trade Agreements, and bilateral economic cooperation between India and South Africa.

Sanjeev Sardana, Chairman, International Affairs Committee for Africa, highlighted the potential for investment between the two countries, and stressed on India setting up manufacturing bases in South Africa so as to facilitate investment.

High Commissioner HE Mr FK Morule said, “South Africa is forever indebted to India. The bilateral trade between India and South Africa has grown substantially from $7.5 billion in 2008-09 to $11.5 billion in 2013-14. Economic cooperation between the two countries could be diversified into areas such as transport equipment, computer software, engineering goods, metals, minerals, textiles, agro-processing, healthcare, water and sanitation. India is amongst the top 10 trading partners of South Africa and is now the country’s largest export destination and sixth largest source of imports. India’s investment in South Africa is estimated at around $6 billion till date and are expected to touch $7 billion in the coming years.”

Inviting Indian firms to South Africa, Mr Morule remarked, “We have a good story to tell. Come and explore us. It’s easy to do business in South Africa”.

Stefanus Botes, Minister Counsellor (Economic), High Commission of South Africa, gave a presentation on “Economic Environment and Opportunities in South Africa”. Showcasing the economic environment and investment opportunities, he expressed hope that with new governments, both in South Africa and India, negotiate the India-SACU Preferential Trade Agreement with renewed vigour.

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