• Power to Gordhan

    SONA 2016 has set it all up for Pravin Gordhan, it shows just how powerful he may be, says Daniel Silke.

  • Inside Labour

    The history of Valentine Day cards gives a glimpse of how technology resulted in job cuts, says Terry Bell.

  • Courage to do right

    A number of factors will impede Zuma’s opportunity to have a ‘Lula moment’, says Prof Dirk Kotze.

All data is delayed
Loading...
See More

Zuma sets $15bn target for SA-India trade

May 04 2012 09:26
AFP

Johannesburg - Trade between South Africa and India will reach the target of $15bn per year before a self-imposed 2014 deadline, South African President Jacob Zuma said on Thursday.

The two countries agreed to increase their commercial exchanges during Zuma's state visit to India in 2010.

But they are on track to reach the mark ahead of schedule, Zuma said during a return visit from Indian President Pratibha Patil.

"We set a target of $15bn of trade between South Africa and India, to be achieved by 2014. According to current trade statistics this could be reached earlier than anticipated," he told the South Africa-India business forum in the South African capital Pretoria.

"The figure by the end of 2011 was close to $7bn. We are on the right path indeed."

Africa's largest economy grew 3.1% in 2011, but is dragged down by a 23.9% unemployment rate.

Nigeria, the continent's most populous nation and largest oil producer, was India's largest trading partner at $10bn in 2010.

"Let me remind you that you are in the right continent at the right time. The African continent is the new frontier of economic growth and development," said Zuma.

india  |  trade  |  sa economy

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Will Jacob Zuma's State of the Nation speech help SA avoid "junk" downgrade?

Previous results · Suggest a vote

Loading...