While highlighting the historical political and economic relations between the two countries, the Ministers agreed that a PTA would be of mutual benefit to both sides in the long term. They agreed that there were many areas where there was complimentarity of interests of both the countries and the PTA would further enhance the same.

Shri Sharma also met foreign Minister Ms. Maite Nkoana-Mashabane, Minister of Public Enterprises; Ms. Barbara Hogan, Minister of Public Enterprises and Deputy Minister of Foreign Affairs, Mr. Ebrahim. He also inaugurated the Conference on “Doing Business with India” along with Mr. Rob Davies, Minister of Trade and Industry, Government of the Republic of South Africa. He will be traveling to Durban as part of “The India Show” to mark the 150 years of the first arrival of Indians in South Africa. The Minister is in South Africa in connection with “The India Show”, which was inaugurated by H.E Mr. Jacob Zuma, President of the Republic of South Africa, yesterday.

The Indian Commerce & Industry Ministry was optimistic that given the current trend of growth in bilateral trade between India & South Africa, the target of US Dollar 10 billion set for 2012 could be achieved in 2011 itself. As India-South Africa trade expands, both countries will benefit by generating employment and other opportunities for the people of the two countries. He expressed satisfaction that the strategic partnership between India & South Africa has now matured in to a dynamic and multi-faceted relationship encompassing virtually all areas of human endeavor. He recalled that the two countries had identified the priority areas of bilateral cooperation, namely infrastructure and manufacturing, mines and minerals, energy, banking and financial services, agro-processing, pharmaceuticals, information technology, automobiles and auto-components.

Reiterating its earlier stand explained in the June 4, 2010 bilateral between the Trade Ministers, the Indian side expressed its keenness to have an agreement on Bilateral Investment Promotion and Protection Agreement (BIPPA) at the earliest. It was decided that this issue of BIPPA would also be discussed in the senior officials meetings slated in the first week of October 2010. The Commerce & Industry Minister mentioned that the state visit of President Zuma in June this year was a great success and a milestone in our bilateral partnerships. The understandings reached during his visit have elevated relationships between the two countries to a phase of increased intensity and closeness.