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India-South Africa Strive to Boost Economic Ties

Oct 04, 2018

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An interactive meeting was organised in honour of H. E. Dr. H. N. Manzini, High Commissioner-Designate of the Republic of South Africa in India at MVIRDC World Trade Centre Mumbai on October 4, 2018. H. E. Dr. Manzini said, “The year 2018 marks the 125th year of the Pietermaritzburg railway station ‘incident’ involving Mahatma Gandhi. We would like to take forward this historical relationship. Even though South Africa is a small country, we have something to offer to our big brother, India”.

H. E. further remarked, “Economic diplomacy with India is the major focus area of Government of South Africa. We want to learn lessons from India, which is the fastest growing economy in the world. We invite Indian companies to participate at the President Global Investment Summit to be held in South Africa on October 26, 2018. The Summit will have representatives from all the countries including the BRICS members”.

H.E. Dr. H N Manzini invited Indian companies to consider South Africa as the gateway for entry into Africa as South Africa has signed the African Continental Free Trade Area (AfCFTA) agreement with the African Union.

Mr. Debasish Mallick, Deputy Managing Director, EXIM Bank of India said, “We support bilateral partnership by facilitating government-to-government projects, offering buyers’ credit and facilitating overseas investment by Indian companies”.

In order to promote trade and investment, Mr. Mallick suggested both the countries to restore direct air connectivity, which was suspended a few years ago.

Ms. Rupa Naik, Senior Director, MVIRDC World Trade Centre Mumbai said, “South Africa is the second largest trade partner of India in the African continent after Nigeria. Today, the bilateral trade volume stands at USD 10.66 billion and I hope this to double in the next three years under the leadership of H. E. Dr. H N Manzini.

Ms. Naik highlighted the potential for enhancing bilateral cooperation in the services sector viz. tourism and financial services. Ms. Naik also suggested promotion of trade among women entrepreneurs in both countries.

Ms. Naik invited H.E. Dr. H. N. Manzini and business delegates from South Africa to participate in World Trade Expo 2018 scheduled for October 2018 and 8th Global Economic Summit scheduled in March 2019.

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From (L-R): Ms. Rupa Naik, H. E. Dr. H. N. Manzini, Mr. Debasish Mallick and Ms. Maropene Ramokgopa.

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Ms. Rupa Naik felicitating H. E. Dr. H. N. Manzini.