Indian premier aims to boost trade with South Africa

Narendra Modi will visit 4 countries during his Africa tour

Indian premier aims to boost trade with South Africa

World Bulletin / News Desk

Indian Prime Minister Narendra Modi has arrived in South Africa to hold talks with President Jacob Zuma aimed at strengthening political and economic ties between the two countries.

Modi arrived Thursday night from Mozambique where he began the first leg of his four nation Africa tour.

Zuma will host Modi Friday in the capital Pretoria where they would hold talks on a host of issues, including trade.

“The visit will be used to further bolster cooperation on economic, political, social and international areas,” the South African president said in a late Thursday statement.

He said his country was keen to strengthen trade with India.

“To date, India is South Africa's largest trade partner with trade in 2015 being at almost 95 billion rand (about $6.5 billion). Trade with India represented 4.9 percent of SA [South Africa] imports and 4.1 percent of exports last year,” Zuma said.

South Africa and India are members of the BRICS strategic economic bloc, which includes Brazil, Russia, India, China and South Africa.

The two leaders are also expected to address a meeting of the joint South Africa-India business forum and the South Africa India CEO (chief executive officers) forum.

Indian companies have 82 projects, including those linked with financial services, software and IT services, in South Africa. According to the presidency, Indian investments in South Africa have created an estimated 10,660 jobs.

Meanwhile, South African companies have also expanded their investments in India with 24 projects. The leading sectors for South African investment in India are the financial sector, machinery and equipment as well as software and IT services.

South African investments in India have created an estimated 6,981 jobs.

Earlier, during his talks with Mozambican President Filipe Nyusi Thursday morning, the Indian leader agreed to strengthen defense and security relations. “President Nyusi and I recognize that terrorism is the gravest security threat facing the world today,” Modi tweeted shortly after the meeting.

The Indian premier will also visit Tanzania and Kenya during his Africa tour. 

Güncelleme Tarihi: 08 Temmuz 2016, 12:48
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