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Enterprise India vital in bilateral trade with S Africa

Written by: Staff
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New Delhi, Apr 13 (UNI) South Africa today said the growing trend of business generated in the Enterprise India shows in the country was complementary to the increasing bilateral trade between the two countries.

Stressing the need for a further thrust in trade between India and South Africa, Western Cape Provincial Government Premier Ebrahim Rasool, while inaugurating the Enterprise India in Cape Town, underlined the relevance of Enterprise India in South Africa and the scope of tremendous potential in the future.

Mr Rasool said holding of the World Cup 2010 and other various key events would result in a lot of business between the entrepreneurs of the two nations, specially the exchange of trained manpower from India to South Africa.

While highlighting the potential of the film industry, tourism and information technology among others, he was optimistic on the high potential of investment, trade and tourism sector opportunities, hospitality and health care sectors, providing bigger business opportunities in India.

Enterprise India 2006 is the sixth in the series of Enterprise India shows being organised by Confederation of Indian Industry (CII) in South Africa with active support from the Indian High Commission in South Africa.

The show is being held in Cape Town from 12-21 April, 2006, with a three-fold emphasis on the need for a long term commitment for doing business with India, a spirit of give and take in multilateral trade issues, and a more liberal framework for movement of people across borders to transact business.

Earlier, High Commissioner for India in Pretoria, South Africa Satyabrata Pal, in his welcome address had underlined that the recent growth of 75 per cent in trade between the two nations was encouraging.

Mr Pal mentioned that South Africa was becoming a gateway to south western Africa as well as the entire African continent.

Besides, public-private partnership was also recognised as a key to achieve growing business with South Africa.

CII Deputy Director General Gurpal Singh, while highlighting the important role played by Small and Medium Entrepreneurs (SME) of both the nations, said the prime reason for organising exclusive shows for small and mediums business was the one-point agenda of promoting and expanding bilateral trade between the two nations.

He also added that on an enterprise level it was imperative to look at joint ventures and long term partnerships to enhance the bilateral trade between SMEs in India and South Africa.

Over 70 Indian SMEs participated in this event with a variety of products from different sectors.

At present, the bilateral trade between India and South Africa ammounts to almost 900 million dollars.

UNI RA PV GC1607

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