The Hindu : Andhra Pradesh / Hyderabad News : Call to improve Indo-South African trade ties

Online edition of India's National Newspaper
Thursday, Jul 13, 2006

Andhra Pradesh

Andhra Pradesh - Hyderabad

Call to improve Indo-South African trade ties

Staff Reporter

High Commissioner of the Republic of South Africa identifies areas like fruit processing, gemstone-cutting and polishing, IT, biotechnology,and filmmaking where the two nations can mutually benefit

STRENGTHENING RELATIONS: S.P. Moloi, High Commissioner of the Republic of South Africa, with J. Geeta Reddy, Minister for Tourism, at the Secretariat on Wednesday.

HYDERABAD: High Commissioner of the Republic of South Africa Francis Moloi on Wednesday invited Indian entrepreneurs to join hands and double bilateral business volumes that stood at US $ 3.1 billion as on date.

On his first visit to the State, he presented a detailed picture of bilateral investment opportunities in South Africa and India. He said areas where they could mutually benefit were fruit processing, gemstone-cutting and polishing, biotechnology, IT and filmmaking.

Mr. Molio was speaking at `Destination South Africa: Enhancing business opportunities' organised here by the Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI), Associated Chambers of Commerce and Industry of India (ASSOCHAM) and South African High Commission.

Power sector

A high growth potential area for investment and growth was the power sector where South Africa had expertise in producing oil and petrol from coal. Also, South Africa produced the cheapest unit of energy in the world, he said, adding they looked forward to cooperation with India on this count.

Mr. Moloi said he had originally come with a target of doubling the figure by 2009, when his assignment in India would come to an end. "However, President A.P.J. Abdul Kalam changed our business plan. Given the growth indicators, he said, there was a very good chance of increasing bilateral business volumes five-fold.

Minister for Tourism and Major Industries J. Geeta Reddy said she was confident of India and South Africa benefiting mutually. She gave Mr. Moloi an overview of strides made by the State in different sectors. Murali Venkatraman, ASSOCHAM vice-president, welcomed. Atluri Subba Rao, senior vice-president, FAPCCI, proposed the vote of thanks.

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