SA and India to reach $10bn trade target early :: Mmegi Online

Trade numbers between two of the world's most ambitious developing countries, India and South Africa, were on the rise with bilateral trade reaching $2,75-billion in the first quarter of this financial year, spurring hopes that the $10-billion trade target could be reached before the set date of 2012, said India Commerce and Industry Minister Anand Sharma on Monday.

He added that even though bilateral trade did take a dip in 2009, reaching around $7-billion, all indications were that if trade continued on its current trend for the next three quarters, the $10-billion target could be reached as soon as March 2011.

Speaking at the India Show in Johannesburg, South African President Jacob Zuma said that it was clear that South Africa's relationship with the world's largest democracy was starting to "bear fruit", especially after his official State visit to India in June. During the visit, over 200 business delegates accompanied Zuma and three different memorandum of understanding towards the strengthening of trade ties were signed.

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