SA to host largest ever Indian trade delegation

From 2 - 3 August 2007, BUSA will host a meeting known as 'India Calling', which forms part of the Indian Merchants Chamber (IMC) centenary celebration.

"India Calling is a very important date on South African business' calendar; we look forward to hosting our Indian counterparts and believe the conference will be educational and fruitful for all attending," said Jerry Vilakazi, chief executive officer of BUSA.

The event endeavours to promote and build business relations between India and South Africa and will in particular focus on the infrastructure, Information and Communication Technologies, pharmaceuticals, skills training, financial services, mining and media industries.

India Calling is to be addressed by President Thabo Mbeki, said the organisers, as well as India's Minister of State for Industry and various local and Indian government and business delegates.

The event is to take place in Johannesburg at the Sandton Convention Centre.

South Africa has been chosen by the sub-continent's powerhouse as a strategic investment destination.

India, Brazil and South Africa are partners in the IBSA forum, which is aimed at promoting closer cooperation between the three nations, particularly in stimulating economic growth and promoting co-ordination on global issues.

The partnership also seeks to advance the developmental agenda of the South and promote closer coordination on global issues among the three nations.

Trade between the three nations has risen sharply over the past few years and is expected to grow even more significantly once a formal trade agreement is in place between the IBSA partners.

Trade between Brazil and South Africa rose to more than R10 billion in 2005 from R6.6 billion two years earlier.

Trade between India and South Africa totalled more than R14 billion last year, more than double that of 2003.

In November last year, the South African Revenue Services (SARS) Commissioner, Pravin Gordhan, hosted his Indian and Brazilian counterparts, KM Chandrasekhar and Jorge Rachid respectively at the Union Buildings.

The IBSA partners agreed to streamline issues of tax and customs administration, to enhance cooperation on tax and customs among themselves.

The revenue heads of the three nations signed a joint declaration, committing their organisations to closer ties across a wide range of areas on both the revenue and customs fronts.

The countries agreed to boost trade and economic development while also seeking to thwart smuggling, drug trafficking, fraud and tax avoidance in the three nations.

Article published courtesy of BuaNews