Indian Delegation Visits Pretoria, South Africa for Second Session
A nine-member delegation from India recently convened with their South African counterparts for the Joint Working Group on Trade and Investment (JWGTI) meeting in Pretoria, South Africa, held on April 22-23, 2025. The discussions, characterized by a friendly atmosphere, focused on enhancing cooperation, addressing outstanding issues, and boosting trade and investment between the two nations. Both sides expressed enthusiasm for fostering greater people-to-people connections and exploring new avenues for collaboration.
Key Participants and Objectives
The JWGTI was co-chaired by Mr. Malose Letsoalo, Chief Director of Bilateral Trade Relations from South Africa’s Department of Trade, Industry and Competition, and Ms. Priya Nair, Economic Adviser from India’s Department of Commerce. The Indian delegation included officials from the High Commission of India in South Africa, the Department for Promotion of Industry and Internal Trade (DPIIT), and the Ministry of Agriculture and Farmers’ Welfare. The meeting facilitated active engagement between officials from both countries, focusing on potential areas for collaboration such as pharmaceuticals, healthcare, agriculture, micro, small, and medium enterprises (MSMEs), and jewelry manufacturing.
Major topics discussed included the revival of the CEO Forum, investment cooperation, market access for agricultural products, recognition of the Indian Pharmacopoeia, and the establishment of a Local Currency Settlement System. Additionally, the participants explored fast payment systems and the India-Southern African Customs Union (SACU) Preferential Trade Agreement (PTA) to further strengthen trade and economic ties.
Review of Bilateral Trade and Investment
During the meeting, both delegations conducted a thorough review of recent developments in their bilateral trade and investment relations. They acknowledged the significant untapped potential for further growth in these areas. South Africa stands as India’s largest trading partner in the African region, with bilateral trade reaching USD 19.25 billion in the fiscal year 2023-24. Indian investments in South Africa have exceeded USD 1.3 billion since April 2000, spanning various sectors including pharmaceuticals, information technology, automotive, banking, and mining.
The discussions highlighted the importance of identifying specific areas to enhance bilateral trade and mutually beneficial investments. Both sides expressed a commitment to fostering a conducive environment for trade and investment, recognizing the long-term benefits of collaboration.
Future Prospects and Relations
The deliberations during the second session of the JWGTI on April 22, 2025, were marked by a forward-looking approach, reflecting the amicable and special relationship between India and South Africa. Both nations are keen on expanding their economic ties and addressing any existing challenges. The enthusiasm displayed during the meeting indicates a shared vision for future collaboration, which could lead to increased trade and investment opportunities.
As both countries work towards strengthening their economic partnership, the outcomes of this meeting may pave the way for enhanced cooperation in various sectors. The commitment to addressing pending issues and exploring new avenues for collaboration signals a promising future for India-South Africa relations in trade and investment.
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